Cryptocurrency advertisements are failing to put truthful content for public
Since the cryptocurrency market is flourishing across the world, cryptocurrency advertisements are gaining momentum and space on TV or newspapers. But the crypto industry has raised an alarm over these advertisements on cryptocurrencies for the public. The main issue is related to the high volatility of cryptocurrency prices that can affect the promises on these crypto ads for the public. Let’s dig into the reasons for raising alarms by the global crypto industry.
Advertisements are known for being truthful and real promises to attract existing customers as well as potential ones towards a brand. If there is customer satisfaction, the brand will gain popularity and promotion in the global market. The cryptocurrency market has started promoting cryptocurrencies to attract potential crypto investors. In the world of influencers, there have been multiple influencer-based paid partnerships for promoting a cryptocurrency exchange platform with the utmost safety and security.
But, the Government of India and certain professionals in the crypto industry have raised an alarm for these crypto ads for the public. The Government advised these agencies to stop promoting advertisements on cryptocurrencies because of the transparency issue. Gradually, it was suggested to go slow on these cryptocurrency advertisements or to promote them in a better responsible way.
Some cryptocurrency exchange platforms are experiencing stiff competition to attract new crypto investors for maximum growth. The crypto ads for the public are highly risky for beginners or the common public to understand the entire mechanism and process of the cryptocurrency market. They may get into a trap and incur a huge loss in the future with all their savings. It is not an FMCG product with high stability and reliability. Cryptocurrencies are highly risky and at any point, the prices can drop to the floor or hit the ceiling.
There should be a mandatory regulation for these crypto exchange platforms to provide cryptocurrency lessons to have a strong understanding of the place people are about to enter. Content creation on cryptocurrencies is profitable, but misleading advertising and questionable content can be a risky investment for followers or common people. Meta, formerly known as Facebook, has put strict advertising policies on cryptocurrency products and services. Meanwhile, the UK has banned some cryptocurrency advertisements for failing to highlight potential risks in this venture.
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