The Myth and the Fact of Crypto Ads in 2021

The Myth and the Fact of Crypto Ads in 2021

Have you ever wondered what is with all the fuss regarding crypto advertising in 2021? It’s no surprise. Lately, more and more projects have come into the market and tried to reach the right audience through carefully crafted ads.

It all started in 2011 when the concept of cryptocurrency advertising first came by. 

The advertising industry has started shifting its attention towards cryptocurrencies as Bitcoin’s price rose exponentially. From around $1 in April 2011, it jumped to $32 by June 2021.

With such an influx of money in a relatively short time, the cryptocurrency industry has started being flooded by countless services and products looking for advertising.

More specifically, as the crypto ads industry started taking form, the companies gained access to press releases, sponsored announcements, advertorials, native advertising, and display advertising. 

And as the demand rose, more and more crypto ads platforms appeared. 

Yet, cryptocurrency volatility goes hand in hand with the advertising niche. Therefore, promotions will have to suffer if the market goes down. And because of the incidents and scams, the restrictions started suffocating the crypto market by restricting their advertising capacities.

But by 2021, the world has progressed. The cryptocurrency stigma should have been no more, and legit hard-working crypto projects should be able to advertise as they need.

But that’s not the case. 

So, considering all the openness big advertising networks show towards cryptocurrency in 2021, let’s understand the myth and the fact of today’s crypto advertising niche.

The myths about crypto advertising

In 2018, after the Bitcoin craze started dialing down and the authorities started looking more and more into scams, the social media giants have published new policies regarding the ban of crypto adverts on their platforms. 

However, over time, the general cryptocurrency ban dialed down as well. So, many crypto marketers are confused as a result of this uncertainty.

In 2021, Google has begun allowing crypto advertising again, a long-awaited reversal of the 2018 decision to prevent all cryptocurrency-related ads from being deployed through their platforms. Now, Google appears to allow crypto exchanges and wallets to advertise in the United States. 

But to do so, they must first register with the Financial Crimes Enforcement Network (FCEN) or a federal bank entity and follow all applicable regulatory requirements and Google’s usual advertising standards.

The prohibition appears to have been lifted as well in Facebook and Twitter’s case. 

So, theoretically, crypto advertisers can promote themselves on Facebook, Twitter, and Google’s platforms.

In practice, the advertisers generally need particular confirmations from the admins, and they can’t promote ICOs and token sales under any circumstances.

The fact about crypto advertising

In 2018, the new policies started limiting the advertising possibilities crypto projects had. The advertisers had no other choice but to comply, adapt, and overcome.

And thanks to the crypto market’s resilience and growth, the major advertising networks such as Google Ads, Facebook Ads, and Twitter Ads have started reviewing the bans, reducing the restrictions to limitations and special confirmation.

However, the problem still remains that most projects, especially ICOs and DeFi protocols, are still largely outcasts and need to find other ways to promote themselves. 

Yet, the crypto advertising networks became more and more available for all the cryptocurrency projects that don’t want to deal with the major networks and their restrictions. 

Although many platforms appeared and disappeared, the crypto ads networks that stood the test of time and developed with the market have seen a lot of growth in 2021. 

With the 2021 bull run and the hype surrounding the crypto market, some have started even delivering over 1 billion impressions per month.

With such support from the crypto advertising niche, ICO marketing can once again be on the rise.

So, although it looks like the big players in the advertising world are opening up their arms to receive the ads budget coming from the crypto market, in reality, the cryptocurrency world it’s helping itself by growing its own solution.

And the less dependence cryptocurrency has on the mainstream media, the more the market can grow despite outside efforts to limit it.

Ogwu Osaemezu Emmanuel

Ogwu Osaemezu Emmanuel is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Emmanuel believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.