Cryptocurrency has gained popularity as an investment option, with many advocating for its wider acceptance as a mainstream currency. However, not everyone has been supportive of this idea. This was evident when TikTok previously banned all content related to cryptocurrency and financial services.


Interestingly, TikTok is now making a change. They are working on a program that will allow cryptocurrency companies to advertise on the platform. Although there will be restrictions, this marks a significant step forward for crypto marketing on TikTok.


The TikTok crypto community has been pioneering new trends. Ever since it skyrocketed Dogecoin’s popularity (more on that later), TikTok has become a hub for educating, promoting, and introducing crypto startups to an eager audience.


On TikTok, Crypto has amassed a staggering 20.7 billion views, and this number is climbing daily, solidifying TikTok as a major platform for crypto discussions. Cryptocurrencies, unlike traditional currencies, don’t rely on a central authority but instead use shared ledgers for transaction verification. The emphasis on “shared” is crucial here. TikTok offers an ideal space for fostering content sharing about crypto, driving its adoption and expansion.


So, why should your crypto startup focus on TikTok? Well, it’s one of Gen Z’s favorite social platforms, with 63% of them using it every week. This generation is tech-savvy and always on the lookout for innovative ways to enhance their lives. This is where crypto comes in, offering new possibilities and solutions they’re eager to explore.


Welcome To The Crypto Generation


The crypto wave has swept across Gen Z, known for their quick embrace of tech innovations. As cryptocurrencies like Bitcoin surged in popularity, this younger demographic eagerly joined the conversation. Surprisingly, over 94% of crypto owners belong to either the millennial or Gen Z cohort. 


They’re not just casual observers; they’re actively monitoring their investments and dreaming big about their financial futures. A study revealed that many Gen Z investors are optimistic about crypto’s potential to make them millionaires, with 59% believing in its wealth-building capabilities. This keen interest explains why they’re closely tracking the crypto market.


TikTok stands out as a potent platform for promoting crypto to this generation. The numbers speak for themselves, showcasing TikTok’s influence in the crypto realm.


Who Does This TikTok Crypto Program Impact?


TikTok’s new Crypto program directly affects registered crypto companies in the US and Canada. These companies must be approved by specific regulatory bodies like FinCEN in the US and FINTRAC in Canada to run ads on TikTok. 


These ads target TikTok users aged 18 and above, educating them about cryptocurrency and promoting crypto-related services. Due to the volatile nature of cryptocurrency, TikTok is cautious about these promotions. 


While registered companies can post organic content about crypto on their TikTok profiles, they are currently restricted from running paid ads. However, TikTok is exploring ways to allow paid advertisements from these companies in the near future.


Why Is This important?


In 2021, TikTok’s temporary ban on crypto content, including advertisements, created a challenging landscape for crypto companies looking to reach a wider audience. This ban was a part of TikTok’s advertising policy, which had a “Restricted” list that included various financial products such as cryptocurrencies, initial coin offerings (ICOs), and token sales. Despite these restrictions, some crypto companies managed to run paid ads on TikTok before the ban took effect.


One such company was Lolli, known for its Chrome extension offering bitcoin cash back rewards. Lolli’s experience highlights the changing dynamics of advertising in the crypto space on social media platforms. They were able to run a few ads on TikTok in 2021 but faced sudden restrictions that halted their advertising efforts on the platform.


For crypto companies, losing access to a platform like TikTok, which has a massive user base, could significantly impact their marketing and outreach strategies. This ban underscored the challenges faced by crypto companies in navigating advertising policies and regulations across different social media platforms.


Now, TikTok is taking steps to revise its approach to crypto-related content and advertising. The platform is beta-testing a new program that allows registered crypto companies, accredited by specific regulatory bodies like FinCEN in the US and FINTRAC in Canada, to run ads targeting users above 18 years old.


This move is significant as it opens up a major advertising avenue for crypto companies, helping them reach a broader audience interested in cryptocurrencies and related services.


Moreover, TikTok’s emphasis on regulatory compliance ensures that only legitimate and regulated crypto companies can advertise on the platform. This restriction not only promotes a safer environment for users but also adds credibility to the crypto advertising landscape on TikTok.


Overall, TikTok’s new crypto beta program marks a positive step forward for crypto companies, offering them a platform to engage with users and promote their services in a regulated and responsible manner.

Promoting Cryptocurrency On TikTok: Tips For Legitimate Brands


If you’re handling marketing for a cryptocurrency brand, standing out from scams in the industry is crucial. This means digital marketing plays a significant role in proving your brand’s legitimacy and value.


Despite TikTok’s stricter policies on crypto, there are positive developments like the TikTok Crypto beta program. This program, although currently limited to select brands, offers a chance for legitimate cryptocurrency companies to establish trust online.


The beta program is ongoing, without a specified end date yet. Once fully implemented, regulated brands approved by financial institutions can run paid ads on TikTok.


In the meantime, there are ways for crypto brands to create organic content on TikTok. Here are some strategies to consider:


  1. Educational Content: Share informative content about cryptocurrency, explaining its benefits and potential risks.


  1. Engage with Trends: Participate in trending challenges and use popular hashtags to reach a wider audience.


  1. Collaborate with Influencers: Partner with TikTok influencers who align with your brand’s values and target audience to reach more users authentically.


  1. User-Generated Content (UGC): Encourage users to create content related to your brand or cryptocurrency experiences. Reposting engaging UGC can enhance your brand’s visibility.


  1. Interactive Content: Create interactive videos like quizzes or polls related to cryptocurrency to engage users and encourage participation.


By leveraging these strategies and adapting to TikTok’s evolving policies, crypto brands can effectively promote their offerings and build a positive presence on the platform.

How Crypto Startups Can Win On TikTok


Absolutely, crypto startups can leverage TikTok effectively, despite the platform’s policy changes in 2021. While TikTok initially restricted the promotion of financial services, including cryptocurrencies, they now allow it through a branded content option. This means that users must disclose when they are promoting financial products like cryptocurrencies.


This transparency is crucial in the crypto space, where openness and trust are paramount. TikTok’s nature as a trend-setting platform can be advantageous for crypto startups. The platform’s algorithm promotes engaging content, even from small communities, to a wider audience. 


For instance, Dogecoin gained immense popularity on TikTok, leading to a surge in its value. However, this also raised concerns about potential misuse by bad actors to artificially inflate investments. The branded content requirement helps mitigate such risks by ensuring transparency and accountability.


Despite the regulatory adjustments, TikTok remains a valuable platform for crypto startups. Many cryptocurrencies, including Bitcoin, Ethereum, and Chainlink, are widely discussed on Crypto TikTok. Additionally, startups like Sweatcoin, which incentivizes users to earn cryptocurrency by walking, have found success on TikTok. 


The platform’s popularity among Gen Z makes it an ideal place to engage with an enthusiastic audience and spark conversations about crypto startups. It’s an opportunity to educate people about cryptocurrencies, instilling confidence and understanding in this evolving financial landscape.


To stand out amidst the crypto buzz on TikTok, startups can focus on creating engaging and informative content. This includes sharing insights about their projects, highlighting unique features, and participating in trending challenges or hashtags related to cryptocurrencies. 


By leveraging TikTok’s reach and engaging content strategies, crypto startups can effectively connect with their target audience and elevate their brand presence in the crypto community.


1. Work With influencers


Working with influencers can significantly boost your crypto startup’s visibility and credibility on TikTok. With thousands of cryptocurrencies in the market, users often turn to influencers for guidance on investing in the right ones or engaging with promising crypto startups. 


TikTok crypto influencers play a crucial role in educating their followers and introducing them to new cryptocurrencies or apps. Research shows that 52% of Gen Zers trust influencers’ advice, highlighting the power of influencer marketing in this space.


When searching for the right influencer for your crypto brand, several factors come into play:


  1. Alignment with Your Cryptocurrency: Ensure that the influencer’s values and interests align with your cryptocurrency. Authenticity is key on TikTok, and followers trust influencers who genuinely believe in what they promote. Look for influencers who demonstrate a sincere interest in your offerings rather than simply focusing on follower count.


  1. Conduct Research: Follow creators in your niche to gauge the quality of their content, engagement levels, and community interactions. Pay attention to the types of comments they receive and how their audience responds to their content. This research helps you identify influencers with a loyal and engaged following.


  1. Transparency in Collaboration: When reaching out to potential influencers, be transparent about your cryptocurrency and the collaboration expectations. Building a strong partnership requires honesty and clear communication from the start. 


  1. Compliance with TikTok Guidelines: TikTok has specific guidelines for branded content, including the disclosure of sponsored collaborations. Ensure that your influencer content complies with these guidelines to avoid content takedowns and maintain a positive reputation on the platform.


By strategically partnering with TikTok influencers who resonate with your brand values and target audience, you can leverage their influence to reach a broader audience, build trust, and drive engagement for your crypto startup.


Working With A TikTok Crypto influencer


Working with a TikTok crypto influencer requires a nuanced approach to create engaging and informative content that resonates with Gen Z audiences. Unlike traditional ads, TikTok users prefer content that is genuinely helpful or entertaining, rather than overly promotional. This means your crypto startup should focus on creating authentic and engaging content that adds value to viewers’ experiences.


Influencers play a crucial role in bridging the gap between complex crypto concepts and the average user’s understanding. They have the ability to simplify crypto topics and make them more accessible, which can encourage users to explore the world of cryptocurrency on their own terms. By collaborating with influencers, your startup can tap into their expertise and reach a wider audience that may be hesitant or curious about crypto.


When working with influencers, it’s important to prioritize authenticity and transparency. Start by having an open conversation about your collaboration goals and expectations. Allow influencers creative freedom to communicate with their followers in their unique voice and style. This approach fosters a genuine connection with the audience and builds trust, ultimately leading to a more positive reception of your crypto brand on TikTok.


2. Be educational


Educating your audience on TikTok is key to connecting with Gen Z, who are naturally curious and resourceful when it comes to learning. TikTok’s focus on education, especially through partnerships with charities and organizations, aligns well with this generation’s mindset of seeking information independently.


For crypto startups, this presents an opportunity to share valuable insights about the crypto world in a way that resonates with Gen Z’s thirst for knowledge. Instead of promoting FOMO (Fear Of Missing Out), it’s crucial to emphasize the importance of research and understanding. Matt Sherratt, Senior Campaign Manager at Fanbytes, highlights the need for factual and informative content that avoids being overly sales-oriented.


When creating videos for your crypto startup, keep them concise, factual, and engaging from the start. Gen Z has a short attention span, so capturing their interest quickly is essential. Avoid being too promotional and focus on providing value and education. This approach not only builds trust but also encourages viewers to explore more about your crypto offerings in a meaningful way.


3. Keeping it Fun: Crypto on TikTok


TikTok is all about fun, and crypto can join in too! People love TikTok for its creativity and the chance to have a good time. So, why not show how enjoyable and exciting crypto can be?


Making crypto entertaining might seem tricky since it’s virtual, but there are ways to do it. One way is to mix information with fun content. For example, Sweatcoin asked users to share videos of themselves earning crypto while walking in different places. They even shared the best videos and memes on their page, making it engaging and enjoyable.


Understanding your audience is crucial. Think about how your crypto fits into their lives and how they use TikTok for entertainment. By getting into their mindset, you can create funny and relatable videos that people love watching.


Keep your content casual and friendly, like chatting with friends. People want genuine advice, so be real, empathetic, and maybe add a touch of humor. And if you’re not sure, partnering with a TikTok crypto influencer can help you connect with your audience in a fun and authentic way.


TikTok’s Updated Crypto Policy Explained


In 2021, TikTok introduced new rules that affected crypto content creators. They started blocking videos that broke their guidelines automatically. Additionally, they announced a ban on promoting financial services, including cryptocurrencies, which frustrated some creators.


However, there’s a way around this ban. TikTok allows branded crypto content, but you must use the Branded Content toggle. This shows TikTok that there’s a collaboration between the creator and the business. Forgetting to do this can lead to TikTok taking down your video.


This change in policy was partly due to many scam ads circulating on TikTok. By making these changes, TikTok aimed to clean up the crypto community and promote trust. After all, trust is crucial in the world of crypto and blockchain.


Tom Sweeney from Fanbytes commented on the policy change, noting the importance of transparency in influencer marketing. It’s vital to be clear about any gains influencers might make from their followers’ investments, especially in platforms like TikTok where rules are strict.


Crypto startups and influencers should also watch their language. Using certain hashtags or words like “bitcoin” or “decentralized finance” can lead to policy violations.


So, what’s the lesson here? If you want to promote your cryptocurrency on TikTok, play by the rules, use branded content, and keep things positive and informative. This approach will help your company thrive and reach the vast audience of crypto enthusiasts on TikTok.


To sum it all up


TikTok has emerged as a powerful platform for engaging young audiences in discussions about virtual products and innovative spaces, especially within the vibrant crypto community. This community has not only embraced cryptocurrencies but also delved into the intriguing world of Non-Fungible Tokens (NFTs), creating a dynamic space for exploration and discovery.


The platform’s influence extends beyond casual discussions, as evidenced by Meta’s strategic use of TikTok influencers to amplify its message about the metaverse, signaling TikTok’s relevance even in broader tech conversations.


However, the allure of TikTok comes with responsibilities. Navigating TikTok’s complex policies, especially regarding financial services and cryptocurrencies, can be challenging. Ensuring compliance and fostering safe user experiences are paramount for any crypto business looking to leverage TikTok’s reach effectively.


Despite these challenges, TikTok remains a prime location for crypto marketing, especially considering the demographic landscape. Gen Z, known for its interest in digital assets, is three times more likely to invest in digital assets than older generations. Moreover, TikTok is their preferred hangout spot, making it a strategic platform to promote crypto startups and spread awareness about their offerings.


Nevertheless, engaging in crypto marketing on TikTok requires a nuanced approach. Collaborating with experienced professionals who understand the platform dynamics, influencer marketing strategies, and the intricacies of the crypto industry can lead to impactful and successful social media campaigns.


By leveraging the expertise of such professionals, crypto startups can navigate TikTok’s policies effectively, create engaging content that resonates with Gen Z, and ultimately, build a positive reputation within the crypto community. If you’re looking to capitalize on TikTok’s potential for crypto marketing, reaching out to industry experts can pave the way for impactful and successful campaigns.


May 2024