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Facebook Changes its Mind – Crypto Ads can Return to the Platform

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Facebook has decided to go back on its decision to ban cryptocurrency-related ads from the platform. The original ban came earlier this year, in January, due to a large amount of fraudulent advertising. Now, the ads will return, but only those belonging to pre-checked firms.

Crypto ads return to Facebook

Back in January 2018, one of the biggest social platforms, Facebook, decided not to allow cryptocurrency-related businesses to post ads. The ban came after the platform noticed that the increase in the value of cryptos has started inspiring a lot more people to join the crypto world. This by itself is not harmful, but the increase in crypto prices also inspired many to start offering fake services and trick the new, unsuspecting investors.

Facebook decided that these deceptive and misleading ads are not tolerable, and has, thus, banned all crypto-related advertising material. Now, the company came to a new solution to the problem, and the ads can finally return, like the platform promised at the time.

As part of their increase in security, those wishing to advertise crypto-related services will have to submit a special kind of application. The application will also have to contain proper licenses, as well as various documents that prove that the firms actually have a legitimate business background. The documentation will then be reviewed and checked by Facebook’s staff, which will then approve or deny the companies from posting ads on the platform.

Facebook is not the only social platform to have done this, and many have recognized the dangers that their users can face due to these fake ads. Only a few months after Facebook introduced its ban, Google did the same. Twitter and Snap decided that they need to improve their ad policies as well.

The decision to allow ads back to the platform will not include all ads, however. According to Facebook’s new policy, ads on ICOs and binary options still won’t be accepted by the platform. Apart from these two, all other aspects of the crypto world will once again be advertised as long as their documentation checks out.

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Despite this, Facebook’s team has encouraged users to report all inappropriate ads that they might encounter. This might mean that not all ads will be checked, only the companies that wish to post them. For the time being, Facebook’s team will listen to the customer feedback, and make new decisions accordingly.

Blockchain and cryptos: potential & speculation

The decision to return ads to Facebook is not that surprising, considering that the growing popularity and interest in cryptos will allow the platform to profit from the ad revenue. Not only that, but the company also seems to have developed an interest in the blockchain technology as well. In fact, according to some reports, Facebook has even prepared an entire team led by David Marcus, dedicated to studying blockchain, and proposing ways that it can be used for bettering the platform.

Some reports even claimed that Facebook might develop its own cryptocurrency in the future and that it might be used for microtransactions, such as those involving gaming. No official statements on this have been released, and for now, it all comes down for speculation by the crypto community.

Additional rumors say that Facebook’s interest in cryptos has grown so large that the company might even try to acquire Coinbase. Neither Facebook nor Coinbase commented on this, but the speculators believe that doing something like this would be extremely beneficial to both companies.

Coinbase is currently serving around 10 million customers, but the number of Facebook’s users exceeds 2 billion. This means that any crypto that Facebook might choose to introduce in the future will have an unimaginable reach than any other currency, traditional or crypto. Still, until some major issues have been resolved, mainly the question of centralization vs decentralization, it is not likely that Facebook or any other large social platform might make this step.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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