The crypto industry is booming, and whether we like it or not, cryptocurrencies are here to stay! Due to digital currencies becoming ever more popular in the present day, we’re beginning to see an increasing number of companies in the crypto market, all vying for attention.
Your crypto business has to stand out from the crowd. One of the critical steps to gaining brand recognition in the crypto industry is developing a well-constructed brand identity and that starts with finding a good brand name.
The right name can make a huge impact on how customers perceive your brand and whether or not it stands out among the rest.
Creating a successful brand name is a delicate process that requires careful consideration balanced with creativity and solid research—all while keeping in mind the core values of your brand.
Developing a great name is essential for keeping your brand identity consistent. And to help you do that, we’ve prepared this article to walk you through the process of crafting a catchy and memorable brand name.
Let’s begin.
Six Tips That Can Help You Create a Powerful Name for Your Crypto Brand
1. Align Your Name With Your Crypto Brand’s Positioning
When setting up your brand name, it is important to be sure it fits the overall positioning of your crypto brand. Your brand positioning will tell your customers who you are, why you exist, and the problem you’re prepared to solve. It provides the foundation from which all your branding decisions will be made.
The first step in crafting solid crypto brand name ideas is to identify the fundamentals of your brand and clearly define your target audience. Make sure to consider any competitive advantages you provide and articulate your brand mission in a few words.
Knowing who you are and your core values will help in forming an effective brand name. The name should convey the purpose of your brand and inspire your target audience to connect and engage with you. Your brand should tell a story and evoke an emotional response in your clients.
2. Consider Using Metaphors, Visual Imagery, and Emotional Words
Metaphors, visual imagery, and emotions are powerful tools that can be used to represent your crypto brand in a distinct and intriguing light.
Metaphors take abstract concepts and make them concrete and relatable. They offer an easy way to explain something complex. Visual imagery is also useful as it makes it easier for your customers to remember and recall your brand’s name.
Finally, emotional words can be helpful in triggering memorable experiences and inviting your customers to explore your brand further.
Together, these three elements can create brand names that stand out, have an impact, and are easy for people to remember. It’ll also show customers what to expect from your business.
To get the creative juices flowing, consider a few examples of successful crypto and blockchain brands that use metaphors, visual imagery, and emotions to their advantage.
3. Study Other Crypto Brand Names
When naming your brand, it’s always important to look at the names of the top crypto brands. By doing this, you can identify any trends or prevailing conventions in the crypto world.
To help you with this, we’ve listed some top crypto brands in the market and analyzed how they leverage metaphors, visual imagery, and emotions.
- Binance: Using the idea of combining binary options with finance, suggesting a data-driven approach to investing.
- Coinbase: Leveraging the concept of a coin being guarded or stored in a base, suggesting a secure, trustworthy platform for investing.
- Kraken: Evoking the image of a fierce sea creature, suggesting strength and power in the cryptocurrency market space.
- Circle: Drawing on the idea of a circle, representing a safe and enclosed space for transactions, investments, and information.
4. Start Brainstorming for Names Ideas
Now that you’ve got a solid understanding of how metaphors, imagery, and emotions can be used and how your name must align with your brand, it is time to begin brainstorming.
Try to write down as many unique ideas as possible, leveraging your brand’s story, positioning, and target audience.
Consider brainstorming or using a trusted naming platform to run a business naming contest. Running a naming contest makes it a lot easier to get a customer-approved business name.
Here are some excellent crypto brand names from Squadhelp.
- RocketZone
- DefiCode
- ZFi
- BlockchainExpert
- WholeCrypto
- NFTbull
- BlockJet
- Boosted
- BitLegacy
- FractionChain
- EtherQueen
- YieldBay
- BoomExchange
- TruthChain
- ChainPilot
- ShellBlock
- ReapWallet
- Bitry
- NodeMachines
- ChainChief
5. Use Audience Testing Before Making Your Final Decision
At this point, if you’ve gone through all the preceding steps, you’re sure to have more than one name that you can choose to represent your business. So, you’ll need to begin narrowing down your list of brand name options to get the best one for your business.
While evaluating your name options, don’t forget to test them with your audience. You can do so by asking people which names draw attention, inspire action, and best convey your brand’s ideas.
When interviewing your audience, be mindful of the questions you ask. Don’t ask leading questions, as this will skew the results you get. A good practice is to start with an open-ended question, such as “What do you think of when you hear this name?” This will allow the respondent to answer without any kind of bias.
Finally, make sure to ask questions about the emotional resonance and practicality of the name in question. See how the name makes the respondent feel and if it is easy to say and memorable.
6. Validate Your Name With Trademark Research
Once you have generated a list of possible brand names, the next thing to do is validate the suggestions by performing in-depth trademark research with the USPTO. Researching the name under the appropriate authorities will ensure that the name is legally available and can be legally secured for your business.
Not researching a name in advance can present serious legal repercussions. Every year there are numerous cease and desist letters sent out to companies that unknowingly use brand names that are already taken.
Don’t let this happen to you. Ensure you protect your brand name and your legal rights by getting your name trademarked.
Conclusion
Finding the perfect brand name for your crypto business is a process whose importance can’t be understated. After identifying a list of ideas, validate the names through trademark research, and use audience testing to make the final decision.
The best brand name will make a big impact on how customers perceive your brand. Follow the steps outlined in this article, and you’ll be well on your way to finding a name that can instantly resonate with your target audience and help your business stand out from the competition.
Read Also: Jack Dorsey’s Square Inc. Rebrands To Block To Resonate With Its Target Market
Written by: Grant Polachek | Edited by Rakhi Shah
About the Author
Grant Polachek is the head of branding at Squadhelp.com, a 3X Inc. 5000 firm that creates memorable business names for thousands of growing startups and several established Fortune 500 companies that embody their goals and ideas. Squadhelp have assessed over a million brand names and compiled a vast list of the most intriguing and unique company names online.
