Digital Transformation

Facebook, Google and Twitter crypto ad bans unlikely to stem exchange traffic

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By John McCarthy | Media editor

March 28, 2018 | 3 min read

Facebook, Google and Twitter’s bans on cryptocurrency advertising are unlikely to make a sizable dent in traffic to crypto exchanges, according to SimilarWeb.

Bitcoin

Paid search accounts for only 1% of cryptocurrency traffic

While the major digital platforms stepped in to block crypto ads on account of fraud fears, paid search in particular only drove less than 1% traffic to these sites in 2017.

The report read: “There is little chance that this will have a major impact on the flow of traffic to the top cryptocurrency exchange sites.”

50 sites dedicated to cryptocurrency exchange were analysed for the report. Traffic to these portals was up 18 times in the year from January 2017 to January 2018 (55.7m monthly visits globally to 980.7m). This showed a booming interest in the crypto market.

Coinmarketcap.com contributed 8.5% of all US desktop traffic to the exchanges, making up 39.4% of referral traffic.

The report also largely tied the value of Bitcoin to searches for exchanges.

It concluded: “At least for now, the changing fortunes of key cryptocurrencies are closely tied to the earning potential of the leading cryptocurrency exchange sites through advertising.”

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