Definition:
Fintok
is a new trend within the social network TikTok in which supposed financial experts make viral videos giving advice on economics to their followers. These Tiktokers focus especially on investing and cryptocurrencies. Some of these videos have raised interest in Dogecoin and GameStop.
Investments in Fintok
These videos show young people how to make money with little effort. They focus especially on cryptocurrencies and activist investments, but also on other economic aspects such as personal finance. The ease of this platform to make your videos viral together with the dynamics of it have made this type of content grow so fast. Some of the protagonists of these videos are renowned financial experts.
The success of these videos of up to 60 seconds is in short and fast content to consume in which they are given from tips or advice applicable in the daily domestic economy to others how to help buy a thing and even how to invest in cryptocurrencies. Another of the most popular tips is trading, which consists of buying and selling assets.
Financial information
In most cases these are experts in economics and finance,but it cannot be proven that all the content is true. Therefore, although this trend is positive since it is educational content, some platforms such as the Wall Street Journalwarn that not all information can be truthful. It is important to know how to recognize which are the real experts of those people who only want to gain notoriety in social networks.
An example of this are Laura and her sister Holly Holland started on other social networks and have subsequently expanded to TikTok, where they accumulate more than 22,000 followers. These followers,belonging to generation Z or millennials, learn from financial trends to tips for renting or buying a house, among others. Other famous creators of this type of content such as David Poku have managed to reach more than 330,000 followers in just one year.