Crypto Advertising Is Coming
An important development in the cryptocurrency industry, Google announces it will allow advertising on its platforms for cryptocurrency exchanges and wallet services. The company banned advertising of cryptocurrency in general since March of 2018. In September 2018, exchanges were allowed to start advertising in countries such as U.S. and Japan but they had to become certified advertisers.
The reason originally that cryptocurrencies and related crypto-businesses have seen such pushback on their advertising abilities can be very similar to what happened in the Cannabis industry as it started to get more legal and institutional adoption. At the start of a new “craze”, regulations and boundaries are likely not set (or they are simply outdated).
This causes a lot of speculation on that new craze’s future. Cannabis companies also had initial trouble advertising and likely still have many tight advertising standards to follow even today. The same can be said for companies such as Uber & AirBNB that transform existing markets.
If crypto is following the same pattern, it indicates a few things:
- Google’s Announcement implies more institutional interest in cryptocurrency (at the very least, top ones such as Bitcoin & Ethereum)
- Regulations are starting to come-up, whether its being made by for-profits (Google) or governments
- Cryptocurrency is starting to lose some of its negative stigma – similar to cannabis.
However, with an increase in cryptocurrency advertising from exchanges and wallets, there is likely to be more situations of scam ads. You don’t want your ad to be confused for a scam, and you especially don’t want your customers mistaking scammers for your services. It’s important to know what is the best way to direct honest traffic to your website.
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