The Cryptocurrency Ad Ban
In 2017, we saw the rise in popularity of cryptocurrency. What is cryptocurrency? Cryptocurrencies are forms of digital currencies that the government doesn’t regulate. Instead, they are regulated by encryption techniques and algorithms. The most popular cryptocurrencies are Bitcoin, Ethereum, and Litecoin. Find out more about cryptocurrency.
Unfortunately, because of cryptocurrencies’ unregulated nature, there has been an increase in scams related to cryptocurrency advertisements. Due to the increase in fraudulent behavior, many major companies have banned crypto-related advertisements.
Facebook was the first to start the crypto ad ban in February**. Google and Twitter have recently followed in Facebook’s footsteps and announced that they will begin banning crypto-related ads, with Twitter taking action now and Google starting in June 2018. Even Snapchat is regulating crypto ads. Unlike the other companies, Snapchat will only be banning ads related to Initial Coin Offering (ICO), allowing more general crypto ads to still appear.
With the largest ad company and most prominent social media companies banning cryptocurrency advertisements, where should these businesses turn?
**In late June, Facebook reversed their decision on cryptocurrency advertising ban.
Bing, the second largest search network after Google, should be the first place crypto companies turn to continue advertising their businesses. Although Microsoft is currently evaluating its position on cryptocurrency, the company has yet to give any indication it’s banning crypto-related ads. Through Bing Advertising, you can advertise your company similarly to how you would on Google through search, display, and video ads.
Apple App Store
For cryptocurrency businesses that are app-based or have an app, the App Store is a great place to advertise. In-App Search Ads help consumers discover apps on iPhones and iPads. By investing in these In-App Search Ads, your crypto app will be more searchable and easier for consumers to find.
Another option is to buy ad spaces from individual websites. Cryptocurrency businesses should research specific websites with traffic that falls within their target consumers. CoinDesk, MinerGate, and other crypto-related websites would allow your business to reach audiences already interested in cryptocurrency.
Search Engine Optimization
Last but not least, with these new restrictions on advertising, cryptocurrency companies should focus on search engine optimization (SEO). By optimizing for search engines, your business will be searchable without paid ads. The better optimized your website is, the better chance there is for your site to rank organically on the first page of Google Search, where 75% of the clicks go.
With the increasing regulations on cryptocurrency advertising, legitimate cryptocurrency businesses need to look beyond Google, Facebook, and Twitter to advertise their companies. Bing, the Apple App Store, and cryptocurrency-related websites are great places to start. Another first step is to improve your website’s SEO. If your crypto business needs help with SEO or setting up and managing a Bing Advertising account, don’t hesitate to contact Online Optimism!