Crypto ads faced a crackdown recently, with major platforms blocking and banning them. In this post we discuss the reasons and the implications.
Back in January the Facebook is start banning the ads Related to Wallets ,ICOs ,new Coins and BlockChain. In June the google enact the same policy which means that crypto companies are start facing some serious challenges.
What triggered the ban
On March 14 the google has clarified about it,s new policies ...
Members of the crypto community are understandably upset. Cryptocurrency and blockchain are meant to be safe and traceable, so why are they being bundled with other advertisements Google is cracking down on, like gambling and fraudulent rehabilitation centers?
The reason is that the cryptoverse is still largely unregulated. Despite being on peer-to-peer networks, cryptocurrency values fluctuate all the time. ICOs are sometimes outright scams where fraudsters provide nothing in return to investors. Besides, blockchain is yet to go mainstream, so the general public is wary, as can be expected. Currencies with no government affiliation and physical form? It’s no wonder mainstream internet users find the general premise nerve-wracking and volatile.
Scott Spencer, director of sustainable ads at Google, told CNBC:
The Register reported that Bitcoin’s value fell from $9,144 to $8,700 after news of the ad ban reached the public.
Twitter is expected to follow in the footsteps of Google and Facebook. However, Bing and others are still accepting crypto advertisements, which will hopefully help slow the bleeding.
What does this mean for crypto companies?
Cracking down on crypto ads will be beneficial for weeding out scams but troublesome for people hosting legitimate ICOs or investment firms that specialize in cryptocurrency transactions. Many businesses are afraid they won’t be able to market themselves properly, and if an ICO fails, the product or service behind it may follow suit.
Ivan Goldensohn, chief marketing officer of Dispatch Labs, believes the move to ban these types of advertisements is a double-edged sword. Goldensohn states:
However, some companies are finding ways to circumnavigate the ad crackdown. One of the pioneers is a business named ZEN. Founded by Frank Erik Banks, ZEN is an app that enables teenagers to converse with one another and share short videos; it’s similar to Instagram, but the experience is monetized with ZENCoin cryptocurrency. Users earn these coins by building a social media audience on the platform, and then the company connects them to advertisers targeting their demographic.
Banks’ secret was hosting his ICO through a platform approved by the Securities Exchange Commission (SEC). StartEngine is the first US platform to offer SEC-registered ICOs and, as the company advertises itself and its clients, it also publishes the StartEngine Index -- a list of all its campaigns and how successful they are. It can help get the word out to investors and encourage them to participate.
You may have noticed that the consequences of this ad ban apply mostly to startups rather than established blockchain companies. So, what else can new businesses exploring blockchain do?
Stan Schroeder from Mashable spoke with Darren Marble, CEO of CrowdfundX, who said:
Networking and relationship building are what startups need to focus on. In any case, few people who participate in ICOs act on a cue from Facebook. Once projects are funded, blockchain companies should still leverage connections to advertise — there are many outlets available, and worthy blockchain opportunities will still excite the right people.
Exchanges
Binance : https://www.binance.com/?ref=17219803
Coinfalcon : https://coinfalcon.com/?ref=CFJSBSTKGNCW
Cryptopia : https://www.cryptopia.co.nz/Register?referrer=Ghost_Light
Note : (This is my personal research I am not a financial adviser.According to my Opinion the right time to buy these coins are when they are in a dip.The more news about these coins are coming and market works according to news and FUDS. You can make your own research before buying.
Credits : Cryptovest
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