Britain is misleading Bitcoin advertising

The Advertising Standard Authority, an independent UK regulator, has banned Luno Exchange from displaying and encouraging individuals to buy Bitcoin. According to the watchdog, the posters only tell people to buy the dominant coin, but eliminate the risks associated with purchasing a coin.

“Time to Buy” ads

The regulator added to the risk factor that BTC investments are typically technical and volatile and could result in financial losses. This rule follows certain events that occurred weeks earlier, including the 30% drop in the price of BTC and a comment from the Bank of England Governor that crypto investors should be prepared for losses.

Since December 2020, posters with the words “Time to Buy” have been circulating on the bus network in the capital and throughout the London Underground.

The disadvantages of investing in BTC

Like other digital currencies, Bitcoin is prone to price fluctuations and lets traders miss out on lucrative buying and selling opportunities. The digital currency only relies on a technology that digitally mines coins, and the blockchain is maintained by miners who validate transactions.

A technology-based cryptocurrency exposes users to online fraud or cyber threats. Additionally, Bitcoin regulations threaten his investments as they are either a commodity or a currency due to different jurisdictions. A user needs to be on the highest alert with market shifts and make minimal investments that do not result in losses.

For the most part, regulations limit the use case of Bitcoin as the majority of platforms and companies do not accept digital currencies as a legitimate medium of exchange.

Via Luno Exchange

The moon acts as a bitcoin exchange platform designed to make the trading experience easier for users. Since its launch in 2013, Luno has gained massive amounts of user trust and processed numerous transactions in 40 countries around the world. Aside from Bitcoin, the exchange supports other types of cryptocurrencies such as ether, XRP and Bitcoin Cash.

Luno is designed to accommodate both seasoned and new traders as it offers easy ways to trade crypto and fiat currencies. A secure online wallet is also built in for users who want to temporarily store their digital coins.

The exchange offers its users enhanced security measures, where 95% of the funds are kept in the cold store, and an additional 2FA procedure. Luno is now on the ASA’s radar as it advised the platform’s marketing communications to clarify the crucial fact that BTC’s prices are variable.

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