In many ways, the cryptocurrency world is one of a kind. The market is still higher than it has been in the last 10 years, yet the bear market gossip never ceases.
And in the same way, we keep seeing ads about cryptocurrency, yet we generally know that most advertising platforms don’t allow that.
What’s going on here?
Crypto Ads, in simple words
To begin with, in order to understand why we keep seeing ads about trading cryptos, we need first to know what they are. Crypto ads is a broad term that covers the promotion of cryptocurrency-related products, services, and events such as:
- Cryptocurrency exchanges
- Gaming & Gambling websites
- Wallets and payment solutions
- Various dapps
- Emerging cryptocurrency projects
- Token sales, ICOs, IEOs, etc.
As everybody knows by now, 78% of the 2017 ICO’s were identified as scams. And that led to the banning of cryptocurrency and blockchain content when it came to advertising and media communication.
Yet, that did not mean the end of the ICO marketing or the complete end of cryptocurrency advertising.
And in 2021, as the market has reached new proportions, the ads concerning cryptocurrencies are more visible than ever.
Where can you advertise crypto projects?
I bet the first advertising options you would think about are Google Ads, Facebook Ads, Twitter Ads.
You wouldn’t be completely wrong, but neither right.
Since August 3, 2021, Google Ads has allowed the advertisement of cryptocurrency-related businesses and services to US citizens. But only as long as the advertisers are registered to Financial Crimes Enforcement Network (FinCEN) as a Money Services Business and with at least one state as a money transmitter; or a federal or state-chartered bank entity. Additionally, they have to comply with relevant legal requirements and ensure their ads and landing pages comply with all Google Ads policies.
However, ICOs, DeFi trading protocols, ads promoting the purchase, sale, or trade of cryptocurrencies or related products, as well as ads destinations that aggregate or compare issuers of
cryptocurrencies or related products are not allowed.
When it comes to Facebook Ads, you must first receive confirmation for eligibility to run ads promoting cryptocurrency, cryptocurrency exchanges, cryptocurrency mining software and hardware, and cryptocurrency investment advice.
However, you may not promote ICOs or token sales.
Twitter includes its cryptocurrency ads policy under the Financial Products and Services ads policy.
So, the crypto ads policy vary by jurisdiction.
Projects that offer banking services, loan products and services, payments solutions, investment advice and opportunities, insurance products and services, securities, cryptocurrency exchanges, and cryptocurrency “hot” wallets are allowed to advertise but restricted according to the jurisdiction they are targeting.
However, ads promoting payday loans, cash loans, ICOs, cryptocurrency token sales, binary options, and bail bonds are prohibited globally.
Is the crypto ads industry still alive, then?
Although, in appearance, the main ad networks appear to take steps towards integrating cryptos, in reality, the industry is still suffocated by restrictions.
But as the cryptocurrency market has revived in the last few years, the Bitcoin ad networks grew consistently, supporting the advertising needs of the projects that can’t access the generalist ad giants under any circumstances.
And as Bitcoin reached a new all-time-high in 2021, some crypto niche ad networks expanded so much that are now able to offer over 1 billion impressions / month only from cryptocurrency-related websites.
So, the Cryptocurrency industry is very much alive. The majority of the crypto projects are still not able to access the big advertising solution. But with the dedicated ads networks, even ICOs can meet their advertising needs.