Are you looking for a way to successfully advertise your crypto company or platform on social media platforms?
According to a Civic Science report, 66 percent of US consumers have not yet invested in crypto but would like to do so. Meanwhile, 7% plan to invest in cryptocurrency, while 18% have never heard of it.
Would you like to be the go-to company or platform for people when they decide to buy crypto?
The market for crypto-related information is growing daily, but the ban on crypto advertising on most platforms makes it difficult to reach this market.
Despite the buzz around cryptocurrency, many Americans do not know what it is or do not know enough to want to invest in it. One of the reasons for this is that most crypto companies or platforms do not run their ads on major social media platforms like Facebook, Twitter, and Reddit.
Crypto advertising will get you a diverse market of people looking for a reliable cryptocurrency company or platform to use.
Is there a way to use these platforms for crypto marketing without risking account deactivation or suspension?
Here is what we will cover in this guide:
- How to Get Approved to Run Crypto Ads on Reddit, Facebook, and Twitter: An Introduction
- Why the Ban on Crypto Ads Social Media Platforms?
- Can Your Crypto Ads be Approved on Reddit?
- Can your Crypto Ads be Approved on Facebook?
- Can your Crypto Ads be Approved on Twitter?
Read on to learn more.
How to Get Approved to Run Crypto Ads on Reddit, Facebook, and Twitter: An Introduction
The relationship between Reddit, Facebook, and Twitter with crypto advertising has been like cat and rat since a few years back. In fact, on multiple occasions, these social media giants have issued statements on the ban of crypto ads on their platforms.
Within the blink of an eye, these social media platforms will begin to say that there has never been a ban and that crypto marketers are free to market their business on them.
This indecision has made a lot of crypto marketers confused. Presently, many crypto owners, platforms, and marketers don’t know for sure if there is a ban on these social media platforms or not.
Why the Ban on Crypto Ads Social Media Platforms?
Why did social media platforms like Facebook, Reddit, and Twitter start banning crypto ads?
The reason why these social media platforms started this ban is not far-fetched.
Many people started using these social media platforms to scam people in the name of advertising cryptocurrency.
CipherTrace reports that global cryptocurrency theft rose from $370.7 million in 2019 to $513 million in 2020.
(Source: Finances Online)
So in early 2018, for example, Facebook started banning and blocking ads that carry crypto promotions as their way of trying to checkmate the activities of fraudsters.
Facebook’s old policy read, “Ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency.”
Facebook’s product management director, Rob Leathern, commented on the prohibited financial products and services in January 2018. He said, “We also made clear that this policy is intentionally broad while we work to better detect deceptive and misleading advertising practices.”
Following Facebook’s ban on crypto ads, a Twitter spokesman spoke about the restricted content policies around financial services in March 2018. He said, “We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency.”
“Under this new policy,” he continued, “the advertisement of Initial Coin Offering and token sales will be prohibited globally. We will continue to iterate and improve upon this policy as the industry evolves.”
As far back as 2016, Reddit started the ban on ads carrying crypto promotions, and their reason is also not far from that of Facebook and Twitter. However, this is surprising in the case of Reddit because it is one social media platform that has large cryptocurrency followers.
That same year, Reddit management issued a statement, as seen in Section 11.5 and Section 11.6 of its Advertising Policy. It said, “Unsubstantiated financial products, services, tradable financial assets, promotions, and advertisement of single securities are all prohibited.
Despite the vulnerability of cryptocurrency to crimes like money laundering, there is still hope. According to CoinTelegraph, only 1.1 percent of the total crypto volume is illicit. Hence, more people are getting interested in the cryptocurrency business.
(Source: Smart Cash)
Do you want to know if you can run your crypto ads on these platforms?
How can you be approved to run your cryptocurrency ads on any of these platforms?
Can Your Crypto Ads be Approved on Reddit?
We know the question in your mind right now will be, “can your ads be approved on Reddit?”
You don’t need to be losing sleep on that because the answer is a big YES.
Reddit has become one of the best platforms where you can advertise your crypto business. Although there was a time when this was impossible, you can now run crypto Reddit marketing.
Several blockchain companies like HodlTree and BlockFi have been running advertisements on Reddit. Coinbound, for example, has been running Ads on the platform since around September of 2020, recording tremendous business success through the platform.
Like any platform, there are still restrictions for cryptocurrency companies and this also depends on the type of crypto company (token, exchange, etc.).
How to Run Crypto Ads on Reddit
It is straightforward to start up crypto advertisements with Reddit.
The first thing you will be required to do is to set up a Reddit Ads account. You will be required to provide the company username that will appear on the ads, password, company name, business email address, first name, last name, business phone number (this is optional), industry, and country.
Once you finish with this, click on the check box that says “I work with or at an advertising agency,” then click on sign up.
Note: Under the industry option, you are to select the financial services option. As soon as you do so, review our ad policy will pop up; ensure you go through it so that you will understand their policies and your boundaries.
If you have successfully done that, you will see another dashboard - verify your email. When your email is verified, go back to the create campaign dashboard. Fill in your campaign name and make the required payment. Then click continue, and you are good to go.
Failure to follow Reddit Ad Policy will result in your account being suspended or canceled. Therefore, ensure you read and understand the ad policy for your ads to continue running on the platform.
As expected, cryptocurrency will be subject to more scrutiny, but it is no different than any other financial company. We have found that it is best to speak to a Reddit Ads Sales Representative to ensure proper facilitation of ads and to make sure that you are in compliance with their policy.
Can your Crypto Ads be Approved on Facebook?
The good news about Facebook related to your crypto advertising is that you can get approval to run an ad on Facebook. However, you must follow all its ad policies because doing otherwise will lead to the suspension of your account, which tends to happen fairly often and quickly.
To get advertisement approval on Facebook, you will have to apply first. The application will require you to provide information about your crypto business. Also, you need to provide proof of regulatory licenses and any document that shows that your business, if traded, appears on a public stock exchange.
In addition, you should read Facebook's terms and conditions for crypto advertisements on their platform. Facebook has some stipulated rules and may suspend a defaulter from using the platform. Also, Facebook may reject your application if you are still on the application level.
Facebook addendum specifies that “Your eligibility to display cryptocurrency ads may be subject to such conditions and restrictions as Facebook may determine, and may be withdrawn at any time with or without notice.”
With that being said, the policy is quite vague, but this gives Facebook the ultimate power to determine what it will and will not allow on its platform. Facebook will also require that you “promptly give Facebook all reasonable co-operation and assistance in the event of any regulatory investigation or legal action relating wholly or partly to your use of Facebook.”
Facebook Cryptocurrency Ads Addendum is in seven sections, namely:
- Cryptocurrency Ads
- Your Responsibility
- Representation and Warranties
Reading through this will give you a better understanding of Facebook’s terms and conditions, which, when followed, increases the chances of your Ads getting approval.
Your application will not be approved if your company runs ads promoting binary options, initial coin offering (ICOs), and contracts for difference (CFDs) because such ads are still not accepted on the Facebook platform.
The current section on prohibited financial products and services says, “Ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices.” It went ahead to list Initial Coin Offerings, Binary Options, and Contract For Difference Trading as “Not Allowed.”
How to Run Crypto Ads on Facebook
If you want to get started right away, go to Facebook cryptocurrency product and services onboarding request. There are some details you will need to provide when filing your application.
Below is the step by step details needed:
- Why you are applying
- Facebook ID Account ID
- Website domain and related business information associated with the account
- Business registration name, country of business, and business address
- Brief description of the products, services, or other cryptocurrency-related content you intend to promote.
When you finish filling in these details, click on the Facebook Cryptocurrency Ads Addendum and submit.
If you obey Facebook’s terms and conditions and fill in the required information correctly, you ensure that you will have the best change to get approval to run your crypto ads on Facebook.
Can your Crypto Ads be Approved on Twitter?
Many blockchain marketers are very interested in marketing their crypto business on Twitter because, unlike other social media platforms, getting your business to the world is faster on Twitter. In a few seconds, you can get your business out to the world using Twitter.
In addition, tweets on Twitter provide the latest information. Other platforms can have materials dated a couple of days or weeks ago, unsuitable for the crypto business. Hence the need to commence running crypto Twitter ads.
The crypto community needs to know what is happening in the market from time to time, and most importantly, you can tweet several times a day. Hence, you can keep your customers updated as many times as possible.
As of late July 2021, Twitter’s position on allowing crypto ads was unclear after they issued a statement banning it in early 2018. However, Twitter CEO Jack Dorsey confirmed to investors that Bitcoin would be a “big part” of the company’s future.
While waiting for that future to come, you will be wise to seize the opportunities present to advertise your business because of the many advantages Twitter has.
You can use threads, memes, announcements, features, milestones, updates, tweets, etc., to advertise your crypto business pending when there will be a clear policy on crypto Ads on Twitter.
How to Run Crypto Ads on Twitter
Do you already have a Twitter account?
To use Twitter to advertise your crypto business, you will need to have a Twitter account.
If you don’t have one, keep following as we’ll show you steps on how to get your Twitter account and start advertising.
1. Create a Twitter Bio
A Twitter bio is essential if you want to get a good follower base for your business. The bio should be short but precise. For example, you can include your website link and email but avoid crypto hashtags.
2. Cover Image
What people see on your cover photo is very important. Unfortunately, most people make the mistake of using any random image on their cover photo. You should avoid doing this if you want to use your account to advertise your crypto business.
Your cover photo should be attractive and speak more about your business and what it offers because, most times, that is one of the first things people see whenever they are on your page.
3. Pin Your Tweet
Using pinned tweets is a great way to advertise your crypto business. Whenever you see a tweet of high performance, be sure to take advantage of it. Throw in a similar hashtag and pin in your mouth-dropping content about your business.
You will not get approval to run ads on Twitter yet, but you will slowly get adverts on Twitter to grow your business.
Leverage Social Media Ads for Marketing Your Crypto Company
Many social media platforms are reassessing their approach to cryptocurrency as a whole. With major platforms like Facebook, Reddit, and Twitter partially lifting their bans on cryptocurrency, it is essential to leverage this new development and commence your crypto advertising on social media.
Are you ready to launch your crypto company or platform through social media ads?
Flying V Group can help you come up with unique digital strategies for your crypto marketing campaign. Our experts can work with you to ensure your company or platform gets the desired attention on social media. Contact us.
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Robb Fahrion is a Co-Founder and Partner of Flying V Group. He is passionate about helping businesses grow using the power of the internet. Robb graduated from Chapman University in Orange, CA and currently resides in Costa Mesa, CA. Robb enjoys writing about digital marketing, helping his clients turn their dreams into reality, and he is a HUGE Mike Trout fan.