‘Scotland, your capital is at risk’: Fintech campaign highlights crypto dangers
A fintech’s new advertising campaign aims to help Scots that are new to crypto understand the risks and rewards in investing, with the slogan: “Scotland, your capital is at risk”.
Ziglu, a London-headquarted money app, launched its campaign in Edinburgh as more people start to invest in cryptocurrencies for the first time and the sector becomes more mainstream.
Its bold statement will appear in over 200 outdoor locations and will run until 5 September.
Other companies promoting cryptocurrencies have been fined or had advertising banned for only focusing on the benefits of cryptocurrencies and ignoring the risks.
Ziglu, which offers users access to a range of cryptocurrencies such as Bitcoin and Ethereum, wants to raise awareness of how to manage the risks – by investing safely, little and often, for example.
The firm chose to drive its message in Edinburgh – “a leading fintech hub” – after conducting a study in January this year which revealed that seven per cent of Scottish residents had bought cryptocurrencies.
By April, when Bitcoin and other cryptocurrencies had seen a dramatic rise in value, its research suggested this had increased to 12 per cent. Additionally, 15 per cent of Scots interviewed said they thought it was likely they would buy cryptocurrencies in the year ahead.
Mark Hipperson, founder and chief executive of Ziglu, said: “Our app has been specifically designed to help investors that are new to crypto understand the risks and rewards in investing. For example, we enable investing small sums of money – starting from £1 – so that our customers can test the market first before deciding whether crypto is right for them. We believe crypto is a long-term play, and everyone should have the opportunity to invest in it for the future – but also to be able to do so wisely.
“We chose to launch our latest campaign in Edinburgh because being a capital city, we felt the audience here would recognise the underlying message, but also because it has a long history as a financial centre and is a leading fintech hub.”
Following the recent price correction in Bitcoin and other cryptocurrencies, and their subsequent recovery, Ziglu says now is a good time for investors to reassess their holdings and plan for the long-term by focusing on regular monthly investment in the market.
During the recent crypto price slump around two-thirds (65 per cent) of Ziglu customers were buying cryptocurrency, taking advantage of the price fall, while 35 per cent were selling.