Ad Campaigns Plus Positive News To Lure New Retail Investors In

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Today Bitcoin edged closer to the R1 Million mark which is quite crazy considering the Rand used to hold some serious value. R1 million today wont buy you that much but is still more than what the average South African earns and will take most of them longer than 10 years to achieve. No wonder many locals are dabbling with what they can afford and we will see many get involved over the next 3-6 months depending on how long this bull cycle lasts. Unfortunately many will lose out as they don't understand a bloody thing and have zero clue.

Here is the link to their add as no idea why it wont load on Leofinance, but does on Peakd.
Tackle Bitcoin with Luno

What has been interesting to see is we are seeing more and more of a presence in the media locally regarding crypto. Luno is behind this as they have been running an advertising campaign to raise their presence to the public. This started with rugby style Luno adds around 3 months ago.

Yesterday there was an article stating Luno had opened 1 million new accounts in the last 4 months. If one read carefully as that was the headline this is nothing out of the ordinary as they had 4 million new accounts over the last 12 months which means the 1 million growth is normal. Spinning a positive story out of thin air as there is no news

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Just last week there was an article that Binance was taking away the obvious trading options for South African's like many other countries have forced them to do. This applies to futures, options, margin, and leveraged tokens which I have no problem with to be honest.

The Binance FUD we saw a couple of months ago was quite timely and kind of knew something was not kosher with what was happening. Luno pays taxes in South Africa and Binance obviously doesn't so who are the local regulators going to favor as it obviously benefits them. What I found amusing was how simple the tactics are as the Binance article with the watch dog warning and scam alert was right next to this article of 1 million new users for Luno. The regulators along with Luno are trying to keep the bull cycle profits at home this time around and this is all planned long in advance. Binance along with every other foreign exchange they would like removed out of the equation as it affects their profits and taxes.

This Binance FUD was all part of their advertising campaign to try and get the locals to buy into their "overpriced" offerings enriching the owners of the company and the Government. Like most things in Africa the scams are not to complex as they can't be due to the lack of education with the masses. They are easy to manipulate as they don't understand the reasons why things just happen.

The problem I see with Luno is it may be easy for many to get into crypto but the reality is the selection of coin offerings is not there. When an exchange is limited it can be useful as a gateway or onboarding mechanism but that is what it remains as and never grows any further.
Here is a prime example of their response to new listings which is utter bull dust. Wait for it we can expect to hear the protecting of customers in this somewhere and they wont let us down.

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I haven't looked lately but we are talking the obvious Bitcoin and Ethereum along with XRP, Bitcoin Cash and Litecoin as their only offerings. Good luck taking advantage of a Bull cycle with just those. This I think many will understand as they see headlines of all the other coins they cannot buy pumping. This is why Luno is important for onboarding and will never be taken seriously, but it does serve a purpose as there is nothing else available here in South Africa. Everyone I know who is involved with crypto locally uses Luno and nothing else.

Still a positive thing really as the more that get involved now the better for the entire crypto industry in general.

Posted Using LeoFinance ^Beta