At the beginning of the year, Facebook decided to blanket ban all crypto related ads. Understandably, some sort of regulation was necessary after the ludicrous bull run we saw in 2017. Many people got scammed, hacked, or bought into ICO’s with very little substance. This allowed for mediocre and illegitimate coins to explode in price.
But Facebook has now decided to re-examine their original plan to ban all crypto related ads. They have announced that they will now have a careful review system, requiring licenses and an application process. Still, Facebook will not allow for the advertisement of ICO’s or binary options, which were the bulk of the reason for the original ban.
How Facebook will moderate these application processes is still unknown. Facebook admits that it will have to review its policy periodically to stay a step ahead of deceptive tactics.
As a legitimate service with no scams or ICOs, this is great news for Bitcoin Depot. Since our service is physical, our business depends on people’s awareness of the closest location to them.
So, what does this mean for you? If you follow us on social media, then you may already be seeing the new locations being installed daily (follow us if you haven’t already). Now, you’ll see ads by us whenever there’s a location near you. This also gives you, the user, a platform to give us feedback based on the location. All in all, this change will be good for us and you, the customer.
Take a picture at any of our ATMs to win free merch from us! Just post the picture on Twitter, Facebook, or Instagram and tag us (bitcoindepot)or use the hashtag #bitcoindepotwin.