Facebook’s relationship with crypto and blockchain has been a complicated one. At one point they’ve issued statements outright banning cryptocurrency companies from using Facebook and Instagram for advertising. At other points, they’ve claimed the ban did not, in fact, exist and that crypto companies need not worry. Facebook has even gone so far as to start their own cryptocurrency project, Libra.
With all this flip-flopping and lack of clear answers many blockchain entrepreneurs are wondering if its possible to advertise crypto on Facebook.
Here we take a deep dive into our own experience as well as those of other crypto marketing teams.
Can you advertise crypto on Facebook?
Like many crypto advertising questions whether you can advertise your cryptocurrency brand on Facebook is a matter of “it depends”.
Facebook’s public stance on blockchain and crypto has been a confusing one. Within the past few years, Facebook has gone from publically decrying Facebook as a dangerous means of money laundering and scamming to working on their own blockchain-based currency Libra. After months of regulatory pushback on the Libra project, Facebook seems to have returned to its previous stance of “Crypto Bad”.
As far as Facebook’s ACTUAL crypto advertising policy, the tech giant claims it does not outright ban blockchain project ads, but approval is needed in most circumstances.
According to Facebook’s support page on crypto advertising:
Under the cryptocurrency products and services ads policy, advertisers planning to run ads promoting cryptocurrency, cryptocurrency exchanges, cryptocurrency mining software and hardware, and cryptocurrency investment advice must first receive confirmation for eligibility.
The cryptocurrency products and services ads policy requires advertisers to be approved in order to help prevent misleading advertising for these products and services. Learn more about the scope of the cryptocurrency ads policy and how these ads are reviewed.
To actually apply for approval to advertise crypto on Facebook, this form can be used.
What the experts say
Based on the information made publicly available by Facebook, it’s fair to assume most blockchain projects that aren’t holding an ICO or offering anything nefarious shouldn’t have an problem.
According to Smith:
I think Facebook’s crypto advertising policy available on their site is mostly a PR move. We’ve worked with tons of great blockchain projects over the years and never has a Facebook ad campaign for them not been rejected. We can occasionally get a campaign approved but within days it gets removed and they’ve gone as far as permanently ban advertising accounts.
None of the projects we’ve seen rejected have been in violation of Facebook’s crypto advertising policies either.
Based on this, it appears the true nature of Facebook’s crypto ad policy is more complex than it may first appear.
Can you advertise cryptocurrency on Instagram?
Instagram, being a Facebook owned company, adopts a similar (if not same) policy towards crypto ads. That said, we have seen at least one advertising campaign from a cryptocurrency company on Instagram.
One such company to successfully get crypto ads on Instagram (for a short time at least) is CoinTracker, a crypto portfolio and tax reporting software company based in San Francisco.
That said, it appears most brands should not rely on Instagram to promote their brands.
Where can you advertise crypto?
With advertising behemoths Facebook and Instagram basically out of the picture, cryptocurrency companies are looking for other ways to boost awareness and drive user acquisition. Below are some advertising channels available to blockchain companies:
Despite once banning crypto ads, Twitter’s advertising policy has since loosened up. For crypto marketers looking to expand their growth via a programatic social media channel, Twitter is still a viable option.
Google is another PPC advertising option available for crypto companies. While ad variations are occasionally blocked, account bans are rare and it is still very much possible to turn a positive ROAS with Google Ads.
Because influencer marketing allows brands to circumvent the need for ad approval from advertising platforms like Facebook, it has blossomed into one of the most popular advertising strategies for blockchain.
Coinbound manages the world’s largest network of crypto influencers across YouTube, Instagram, Twitter, Podcasts, Blogs, and more.
Search Engine Optimization has also become a very popular focus for blockchain marketers. Because SEO allows for organic and recurring traffic without the need to be approved by a third party.
Here’s a great podcast episode on why crypto companies should focus on SEO.
Similar to Google ads, it is possible to run display ads accross a number of crypto publishers and news sites and relatively good CPM rates.
Here are the top crypto display ad networks.
Coinbound is the leading Web3 marketing agency. Coinbound works with major crypto brands like eToro, Cosmos, MetaMask, Litecoin, Tron, OKCoin, and Voyager to boost brand growth through influencers, publishers, PR, SEO, social media management, community growth, and paid advertising.