Do you want to get rich easily, Why not join us for a business opportunity to make you rich for life. You have definitely come across such a message from scammers some of whom use the term Bitcoin as a bait given Bitcoin has come out to be popular than any other cryptocurrency you may have heard about. Well, Facebook is banning all ads that promote cryptocurrencies including Bitcoin which is seen as a new move to make social network (s) a better place.
Bitcoin being the fast rising cryptocurrency currently trading at $10,885 per coin or around UGX 39,000,000 in Museveni shillings has now been flagged by big blue to protect is community. The same can be said of Initial Coin Offerings (ICOS) and cryptocurrencies have turned out to be quite popular with and online Scammers have joined the craze victimizing more unsuspecting users.
Facebook’s new effort is aimed at preventing people from advertising financial products and services frequently associated with misleading or deceptive promotional practices. Cryptocurrencies will soon not have any advertising space on social media as Twitter may as well issue a similar policy. But then what next for Crypto miners.
Facebook’s new policy
Facebook Ads that violate the new policy will be marked as spam and banned from all affiliated networks including Instagram together with the Facebook core app. But then does this imply that Crypto Currencies shall depreciate in terms of Value since their demand will decline as the Facebook’s ad tech director added.
” This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices” – Rob Leathern, Facebook’s tech director.
Logically Bitcoins are seen as a dream come true for crypto miners. But then the cryptocurrency boom has instead given scammers brand new opportunities to develop effective internet threats such as the 2017 rawnsome attacks.
Nevertheless cryptocurrencies act as a payment option for various services offered, just like the Japanese based Beforward trusted the crypto revolution and accepts payment in form of Bitcoins for Car trade. However with Facebook’s new policy banning any Crypto related ads, do we see cryptocurrencies lose their viral popularity in 2018 or expect their demand to increase on a large scale. Just like Bitcoin is expected to hit $50,000 by 2019.
