Facebook Bans Crypto And Binary Trading Ads

John Medley

The overheated ICO and cryptocurrency market suffered another blow yesterday. Facebook is now banning ads on its social media site that promote cryptocurrencies, particularly ICOs and binary options. The announcement came from a Facebook blog post written by  Rob Leathern, Product Management Director.

“We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.”

Rob Leathern

User complaints of the ads are thought to have caused the decision. ICOs and binary option trading for cryptocurrencies are exceptionally risky and none of the ads represent this risk accurately inevitably leaving many retail investors holding the bags.

They even included some examples that may look familiar:

Facebook ad ban.png

Bitcconnect suffered a collapse of 90% in a matter of hours last month and it was coins like this that were using Facebook advertising to drawn in retail traders. Which is why many have welcomed the news as they see it as an important step towards clearing up the ICO market that has become rife with malpractice and scam activity.

Advertising on sites like Facebook was one of the best ways for ICO scammers to get into the pockets of retail investors. Without out this option ICO evangelists hope this will sort the wheat from the chaff.

Grayscale Study: 43% of Investors Interested in Bitcoin are Women

  • A study published by crypto investment firm Grayscale shows 43% of investors interested in bitcoin are female.
  • Men and women hold similar perceptions on the potential and future of cryptoassets.

A new study by Grayscale suggests that the industry of bitcoin and crypto may not be as male-dominated as previously believed. 

According to a report published by the crypto investment firm Grayscale, 43% of investors interested in bitcoin are women. The study involved 1,100 U.S.-based participants between the ages of 25 and 64 currently active in personal investing with at least $10,000 in investible assets and a $50,000 household income. 

The survey found that women and men share “similar perceptions” on bitcoin, particularly in the investment age range of 25 - 54. While many of the qualities of bitcoin resonate with both men and women, the study found the two groups invest differently. 

According to the report "women are generally less optimistic about investments and more risk-averse.” Almost identical percentages of men and women (56.4% vs 56.2%) see significant growth opportunities in digital assets, with 49.8% of women and 49.9% of men commenting that bitcoin’s finite supply will drive demand price higher. 

Women also commented that more education on crypto-assets would lead to a greater interest, More women than men indicated that they lack familiarity with Bitcoin (76% vs. 52%) and significantly, an overwhelming majority of female investors (93%) indicated that they could be more open to the asset class if they had more educational resources available to them.

After finding 43 percent of those interested in bitcoin to be female, Grayscale concluded,

Bitcoin conversations tend to focus on a predominantly male investor audience, and yet data indicates women have a healthy interest in Bitcoin as well.

Featured Image Credit: Photo via Pixabay.com