Why Facebook Bans Crypto Ads? How To Advertise It Properly?

Facebook Bans Crypto Ads refers to the policies that Facebook has set out to tighten the management of cryptocurrency fraud on this platform. So why Facebook bans this kind of ads? How can I promote Crypto product/service on Facebook? Follow my entire article to understand the important ban as well as the latest updates about it. In the following part of this article, I also focus on analyzing how to run Facebook Crypto Ads properly. So please stay tuned till the end.

facebook bans crypto ads
Facebook Bans Crypto Ads

Why Facebook Bans Crypto Ads?

In 2018, Facebook banned Crypto Ads due to concerns about organizations committing cryptocurrency fraud.  However, in 2019, this Policy has been relaxed with 3 types of electronic currency licenses accepted for advertising. However, running Facebook Ads for Crypto product/service was still very difficult at that time.

why facebook bans crypto ads
Why Facebook bans Crypto Ads?

In 2021, after there was official information that David Marcus (a person who is trying to develop a Facebook Crypto project called Diem) will leave the company. Facebook has loosened its Ads Policy and created conditions for Crypto Advertisers to operate on Facebook. And from here, keywords related to crypto are also on the List Of Banned Words On Facebook.

So now you can see ads for crypto platforms, crypto wallets, crypto services, NFTs, etc. appear more often than before. However, Crypto Advertisers will still be banned by Facebook Crypto Ads if they have suspicious behavior or do not provide transparent information for Facebook to review.

In short, at the present time, you can advertise crypto wallets and e-wallets used for crypto transactions without having to confirm important documents with Facebook. More specifically, it is as follows:

You NEED permission from Facebook to advertise:

  • Cryptocurrency exchange: A place to buy and sell cryptocurrencies such as Bitcoin, Ethereum,… For example: Binance, Remitano,…
  • Cryptocurrency borrowing/lending service: Borrow or lend cryptocurrency. For example: Aave, Celsius,…
  • Cryptocurrency wallets have additional services: For example: Wallets allow buying, selling, exchanging cryptocurrencies, betting,… For example: Binance Wallet, Metamask,…
  • Cryptocurrency Mining: The activity of creating new cryptocurrencies. For example: Bitcoin miners,…

You DON’T NEED permission from Facebook to advertise:

  • Tax services for cryptocurrency companies
  • Cryptocurrency/blockchain events, education, news: As long as it does not advertise crypto products/services
  • Non-cryptocurrency blockchain services/products: For Example: NFT Tokens
  • Cryptocurrency wallets only store, do not have cryptocurrency trading, exchange, or betting services

If you want to learn more about the 27 cryptocurrency licenses that Facebook accepts for advertising, check out this link.

facebook crypto ad copies
Facebook Crypto Ad Copies

However, if you advertise for a crypto exchange or exchange application, Facebook bans crypto ads is a situation that will happen to you. Or if you still persist in setting up Crypto Product/Service on this platform, you may encounter permanently banned from Facebook Ads.

How Can I Advertise Crypto On Facebook?

Facebook only restricts advertising to certain crypto services and service types. If you want to advertise crypto wallet or e-wallet for crypto, this is very normal and there are no problems. However, if you want to advertise for other crypto services, you need to follow the following:

Submit a Cryptocurrency ad request

You are required to submit a form so that Facebook can receive important information about the type of crypto service you want to advertise. Please visit this link to learn or fill out your crypto business information. It basically consists of 7 parts, you just need to complete each step as my instructions below:

Why are you applying?

You tick the answers as in Facebook’s instructions. However, if you have other reasons for running Crypto Ads on Facebook, you can add them in the field below.

Provide Ad Account ID

If you are logged into Facebook then you just need to select the advertising account where you want to run Crypto Ads. Note that you should choose an account that has never violated Ads Policies if you do not want to have your request rejected.

cryptocurrency ad request
Cryptocurrency ad request

Provide business information

You need to provide the following business information: Registered Business Name, Country of business, Business Address (Street Address, Floor of suite, City, State of Region, Zip code, business email) and website domain. This is the most important information in the request form. The more accurate and transparent you provide, the faster the review process will be.

Provide documentation

In this section, you must provide all of the business’s electronic money announcement registration documents, or a copy of the license, screenshot of electronic money registration confirmation, etc. of any required regulatory licenses or certifications. Please ensure that the uploaded documents are in English or an official, notarized translation is in English.

Contact information

In this section, you just need to fill in your Email in the blank box. This email is the email for Facebook to send a confirmation or rejection email to your request (different from the business email above, but you can also put your business email here if you own it).

submit cryptocurrency ad request
Submit Cryptocurrency Ad request

General description

For this section, Facebook asks you to enter a brief description of Crypto Business/Product/Service. Anything that generalizes and speaks to your activities, you can write down. And make sure it is highly accurate about the Crypto you are trying to promote.

Meta Cryptocurrency Ads Addendum

Extremely simple, you just need to tick the box to agree to the terms that Facebook sets out for cryptocurrency advertising. Then, click “Submit” and wait for Facebook to respond. After about 1 week (or longer depending on the status), Facebook will contact you about the review status via the email you provided them in section 5. If you are approved, please confirm their email. to start running Facebook Crypto Ads. If not, you need to contact again and find out the reason why the request was rejected.

>>> Related article: Why Do I Get Facebook Dropshipping Ban? 9 Reasons & How To Avoid It

Pay attention to banned crypto-financial content

Crypto ads on Facebook is a quite hot topic related to finance. Therefore, you also have to pay attention to some terms from Facebook for this type of content. Keywords related to finance that are banned on Facebook are listed in the article List of banned words on Facebook.

You can refer to this article to learn more specifically. Basically, inappropriate keywords that shock and force customers to click on the ad will not be accepted.

In addition, content related to financial goals such as dramatically improving revenue with crypto, committing to getting rich quickly with crypto, etc. will all be banned by Facebook mercilessly.

Crypto Ads review process

If you’re looking to advertise other cryptocurrency services, want to advertise a cryptocurrency exchange, or a cryptocurrency trading app, you’re required to pass Facebook’s review process. It basically has 2 steps:

  • Ad review: Facebook’s Ad Review determines whether an ad falls within the scope of the cryptocurrency advertising policy.
  • Ad account review: Once it determines that an ad is within the allowable scope, Facebook will conduct a check to see if the associated ad account is approved to advertise crypto products and services or not.
crypto ads review process
Crypto ads review process

In general, the Crypto Ads review process will take longer than the review process for regular ads. Simply because this is a quite special type of advertising (not even in the Special Ad Category) with complex terms. And Facebook also does not want to let cryptocurrency fraud take place on this platform.

Conclusion

Efforts to advertise crypto and avoid Facebook banning crypto ads require you to have documents, contracts, and transparent cryptocurrency registration verification available. However, cryptocurrency advertising on Facebook still requires you to pay attention to many more things. Specifically, the advertising experiences and advanced techniques I share in Facebook Ads Tips. You can follow it regularly so you don’t miss the latest things. If you need assistance, you can also contact SpeedX Agency for support.

Author

  • Phung Thai Hoc

    Phung Thai Hoc is a digital marketing expert (content marketing; social marketing; ppc;...) with more than 10 years of experience and founder of SpeedX Agency. He has successfully implemented hundreds of projects, each project bringing in 2 to 3 times more revenue than normal. In addition, he is also trying to share his knowledge with everyone to optimize marketing campaigns

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