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TikTok cryptocurrency content creators such as Lucas Dimos claim that they are trying to educate consumers about this emerging market, they say they have been greatly affected by the rapid changes in this social media company for those who address these types of topics.
Last month, TikTok implemented a system that can block videos that violate its policies, the company updated your content rules. The promotion of financial services, such as cryptocurrencies, can be blocked, unless users report the content through a branding option in the application .
CNBC interviewed 11 creators who address the topic of cryptocurrencies, claim that they publish educational videos of cryptography, but their content is being marked or removed permanently with little explanation from TikTok.
Most influencers said they haven’t been paid to promote any crypto content on TikTok in recent weeks, and that visits to videos and new followers have decreased since July. They consider that this has to do with the new content policies that have been implemented .
Given what happened, some of the creators told CNBC that they are considering switching to platforms such as YouTube, Twitter, Instagram, as well as Google’s Discord chat application, where they say they have more freedom to share content .
The creators expose that updates are guaranteed to crack down on spam accounts or fraudulent money-generating schemes, where people goad users to buy a crypto, prop up the price, and withdraw.
They ensure that the way the security system is configured is affecting all those content generators that only try educate your audience about cryptocurrencies and its impact on the financial world ro.
Interviewees comment that in recent weeks, creators say they cannot use words like “Binance”, “decentralized finance” or specific currencies like bitcoin or ethereum in a video without them being removed. Content creators ensure that when using these words the algorithm is alerted and they are immediately sanctioned .
Finally, the creators claim that when trying to communicate their concerns with TikTok about the banning of an account or a retired video, the majority claim that have been ignored or received an automatic reply .
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