Facebook is reversing its ban on cryptocurrency ads. Advertisers will need to apply, but ICO ads are still banned.

Facebook is reversing its ban on cryptocurrency advertisements and will now allow some preapproved advertisers to promote crypto businesses and services, like exchanges.

Facebook banned all crypto ads on the service back in January, around the height of the bitcoin price surge, to prevent people from promoting “financial products and services frequently associated with misleading or deceptive promotional practices.”


Now, advertisers that are approved by Facebook through an application process can promote crypto products, though ads promoting binary options and ICOs, initial coin offerings, are still banned.

Interested advertisers may have to show Facebook “licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business” in order to receive permission to run crypto ads.

The crypto bubble has declined considerably since late 2017, when the price of bitcoin was close to $20,000. (This morning, it’s just above $6,000 per coin.)

That sudden rise in crypto created a mad dash by consumers who wanted in on the craze, and some shady businesses were trying to capitalize by promoting scams, hence the ban by Facebook. Others like Google, Twitter and Snapchat also banned crypto ads.

But crypto still has a lot of believers, and it easy to see why Facebook wants to sell crypto ads: It’s a growing, exciting industry with a lot of potential advertisers. So long as Facebook’s users aren’t getting scammed, the company would certainly love to take on the extra ad revenue.

Plus, Facebook seems to think the crypto craze is at least somewhat legit. The company started its own internal blockchain team earlier this year to explore the technology that’s used as the foundation for all cryptocurrencies. It seems likely that Facebook will take a hard look at cryptocurrencies in the process.

Interested crypto advertisers can apply here.

Rank Site Location +currency Buy
with…
Score
1 etoro London, UK

USD
derivatives

CFD
+ bank transf.
+ card
+ paypal
+ webmoney
9.85
2 coinbase San Fran, USA

USD EUR GBP
buy bitcoin credit card

+ bank transf.
9.80
3 iqoption Limassol, Cyprus

USD EUR
derivatives

CFD
+ bank transf.
+ card
9.75
4 localbitcoins local

all currencies
buy bitcoin with cash

+ paypal
+ bank transf.
9.55
5 cex London, UK

USD EUR GBP RUB
buy bitcoin credit card

+ bank transf.
+ Ethereum
9.50
6 changelly

cryptocurrency exchange
Prague, Czech Rep.

35+ crypto pairs
cryptocurrency
CRYPTO- CURRENCY

+ credit card
8.65
8 binance

cryptocurrency exchange
Shanghai, China

30+ crypto pairs
cryptocurrency
CRYPTO- CURRENCY
8.60
9 hitbtc

cryptocurrency exchange
Copenhagen, Denmark

25+ crypto pairs
cryptocurrency
CRYPTO- CURRENCY
8.30

Past performance is not an indication of future results. Also, leveraged products can carry a high degree of risk. eToro offers protective measures to manage risk effectively, but in rare occasions it is possible to lose more money than invested. This content is for information and educational purposes only and should not be considered investment advice nor portfolio management.

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