The advertising industry begins to accept the crypto industry
The popularity of cryptocurrencies has increased significantly in recent years, reaching a number one trend in google searches in the days when the halving took place.
Crypto advertising on social media
The popularity of cryptocurrencies has increased significantly in recent years, reaching a number one trend in google searches in the days when the halving took place (halving the recommendation that miners receive for their contribution of processing power to network). However, despite its great popularity, the crypto industry was left out of the world of advertising that circulates on the internet. The year 2018 was a difficult year for cryptocurrencies due to the hype that existed in relation to the initial coin offerings (ICO) that ended in a strong bearish correction, in what they called the "crypto winter". In the midst of this context, Facebook and Twitter announced the ban on all ads related to cryptocurrencies and, especially, ICOs and binary options.
The objective of the prohibitions was to avoid the scams that were common currency in the field related to cryptocurrencies. Currently, the restrictions for the crypto industry are still in force but some special measures were developed to verify each announcement related to cryptocurrencies and thus allow legitimate announcements related to the crypto industry. The head of business development for the crypto ad network Bitmedia, Tanya Petrusenko, said: "Today, things have changed, and now they allow some ads, but to launch a campaign, a crypto company must undergo a series of procedures, show multiple licenses, and there is still no guarantee that, even if everything is fine, Google or Facebook will approve the ad in the end. This limits the freedom of marketing for many companies because even if someone runs a store where crypto is used as a means of payment , it will be difficult for them to advertise it using traditional digital channels."
For his part, creative director at crypto-focused marketing agency Paradox Group, Milo McCloud, said: "With recent developments on both platforms [Google and Facebook ads] that allow blockchain-related content to be advertised only afterward. undergoing strong scrutiny, it is the first step in the right direction for the general acceptance of blockchain technology as a major industry that can address many of the problems we are currently facing."