Major update for online advertising: Facebook ads loosens policies to allow more cryptocurrency and blockchain companies to advertise on their platform. Facebook’s parent company, Meta, announced to expand advertising options for crypto marketers.
Changes to Facebook Ads Policies for Crypto and Blockchain
Facebook ads used to require a long application including licenses the crypto or blockchain company has, then they may or may not have been approved to run crypto ads on Facebook. Since the change in 2021 to Facebook ad policies for crypto, the company says they will accept ads for cryptocurrency exchanges, crypto wallets, and have other eligible regulatory licenses.
Facebook ads policy for blockchain and crypto related ads was much stricter in the past due to mainly bad ICO offerings and deceptive advertising practices. However, since their major crackdown years ago, Facebook ads has changed their policies for blockchain and crypto related ads. Especially if you want to know how to run Facebook ads for blockchain technology, crypto news, or crypto events – they have expanded their official policies and help articles.
With Facebook Parent Company Meta Expanding Advertising Options for Crypto, this may lead to much more opportunity for blockchain technologies and crypto companies. This is also great news for companies that are related to crypto or blockchain, but not necessarily their main product or service – such as news or events around this industry.
Who Can Use Facebook Ads in Crypto and Blockchain Technology?
On the Facebook Policies for Cryptocurrency Products or Services Page, Facebook ads explains some of the companies that need prior permission to run Facebook ads include: platforms, software apps or products related to trading, related to lending or borrowing. It also references cryptocurrency wallets that allow users to buy, sell, swap or stake their cryptocurrency tokens, and also hardware or software related to cryptocurrency mining. These policies are stricter when currencies are involved.
However, the policy names a large list of cryptocurrency companies that don’t need prior permission to run ads on Facebook. This includes crypto tax services, events, education, or news around crypto, blockchain technology news, services or products related to blockchain technology like NFTs, and wallets that only store. The policy later explains what exactly is required to get the prior permission to run ads on Facebook. These policies are less strict when moving currencies is not involved.
What the New Facebook Ad Policies Mean for Blockchain and Cryptocurrency Companies
Since Meta made the announcement to change Facebook ads policies for cryptocurrency and blockchain companies at the end of 2021, this is an amazing opportunity for advertisers to get more exposure than they ever have through Facebook ads. Cryptocurrency exchanges can now expand users through Facebook ads, blockchain technologies can increase awareness and technology usage, cryptocurrency news and events will have an easier time getting the word out, and cryptocurrency apps can drastically increase downloads through Facebook ad campaigns!
With Facebook ads lifting restrictions on blockchain and cryptocurrency, we are assuming that Google ads will likely do the same soon. Hopefully both of those PPC ad platform giants will adjust their policies to be even more crypto friendly in the near future!
If you have questions about Facebook ads for crypto or marketing for blockchain technologies – contact our amazing team here.