Social media is the hottest talking point of the 21st century. 21st-century people love talking about everything on social media platforms. Social media platforms offer unlimited potential for business growth on a very large scale. This is why modern business owners prefer business promotion on social media platforms. Even Cryptocurrency is being promoted on social media platforms for the same reason.
Social media has played a huge role in the growth of Cryptocurrency. Cryptocurrency is actually gaining value for two big reasons:
- The technology utilized in its making.
- The power of social media for spreading a word about it.
The Role of Social Media in the Development and Marketing of Cryptocurrency:
The idea of Cryptocurrency development gained enough attention and sparked online discussion worldwide. A number of social media channels spread this discussion in all parts of the world. For example:
- IRC (Internet Relay Chat)
- The Linux Foundation
- P2P Foundation
Even the apps of popular social media websites have spread a word about the development of Cryptocurrency through their apps. This contribution of social media websites made Cryptocurrency development a talk of the town throughout the world. This list of apps includes the following:
The Connection of Social Media With the Growth of Cryptocurrency:
Social media is actually the driving force to carry out the development and operation of Cryptocurrency. Social media platforms are now also acting as a communication channel among businesses, Cryptocurrency development teams and journalists covering relevant operations with social media apps like Facebook. Telegram, Slack, and Reddit etc. These social media apps help them coordinate their efforts about Cryptocurrency development and operations.
The Role of Social Media in the Development, Growth, and Operation of Cryptocurrency in Future:
There are a number of Cryptocurrencies available now. But Bitcoin has gained the most popularity. News spreading like a wildfire through social media platforms has played a key role in the popularity of Bitcoin. The news about Cryptocurrency/Bitcoin doing rounds on social media platforms also determines its market value largely. In other words, social media is a platform that blows the wind in any way about Bitcoin/Cryptocurrency without any warning. They help Cryptocurrency traders make or break their Cryptocurrency investment game, in other words.
All in all, processing of information plays a vital role to help develop and operate Cryptocurrency. This is what social media platforms do effectively. This is one of the many reasons why Cryptocurrencies investments are being trusted worldwide.
In simple words, the future of Cryptocurrency development, investment, and operations seem to be safe.
But Every Coin has a Flipside Too:
Cryptocurrency development technologies are getting advanced day-by-day. Fintech industry Is already predicted to witness 20% correction and a lot more growth by 2019. Take the following as a solid proof:
- Exchanges are indexing Cryptocurrencies.
- Funds are being raised successfully using token sales.
But will development and growth of Cryptocurrency continue in the time to come? It is a very question to answer. That’s right! The future of Cryptocurrency development and operation seems to be in difficulty.
You Can Blame Facebook for It:
Actually Facebook, the largest social media network in the world has decided to ban Cryptocurrency Adverts. As for reason, most of the Cryptocurrency adverts doing rounds on Facebook are turning out to be misleading or a scam. The company is banning Cryptocurrency Adverts under its “Policy for Improving Integrity and Security of Financial Products and Ads.”
So What Does it mean?
It means a lot for the future of Cryptocurrency development and operations. It means even legal and legitimate Cryptocurrency advertises will also not be allowed to advertise about Cryptocurrency on Facebook. This ban is also applicable on ICOs (Initial Coin Offering) as well as binary options, says a Facebook blog post.
Some More Reasons Why Facebook is Banning Cryptocurrency Ads:
This ban also means that the company will not display Cryptocurrency ads even on platforms where they are sold. It is a kind of setback for the Cryptocurrency developers.
- Facebook has seen a lot of people being driven towards Cryptocurrency scams through the adverts doing rounds on Facebook.
- Some Cryptocurrency companies are illegal, illegitimate.
- Many Cryptocurrency companies are not adhering to the advertising policies of Facebook.
All in All:
Social Media has all the power to carry Cryptocurrency development and operations out. But it also has all the power to halt relevant development and operations. It is clearly visible with the way the direction Cryptocurrency growth has been determined by the social media every day.
So we now have to wait and see which way the wind blow!