TikTok is one of the most popular social media platforms at the moment. At the same time, cryptocurrencies are taking the financial world head-on. But, it would seem that the two just can’t get along. Why is the situation like this, we can’t say with certainty, but we can tell you what we know. As you probably know, BTC and similar crypto are advertising all over the place, and TikTok was no different up until now.
So, what changed? Why was the ban on digital currencies instilled on this social media platform? If this is the answer you seek you’re in the right place. But, to an extent, this will remain a mystery for many, even after reading these few lines we have to share. So, let’s see, are the rumors true, can you talk about cryptocurrency on TikTok?
Money Talk
As you know, there’s a lot of money to be earned in mining and trading cryptocurrencies. For those who managed to make a name for themselves on social media platforms, there’s a third option – promoting. Yes, Facebook, Instagram, Twitter, and now TikTok are all platforms used for promotion. It can be done for your persona or it can be done to promote a product or a service. In recent weeks and even months, TikTok has been taking over as the leading platform if you want to promote a product.
Influencers who gained success on this network are not shy from making money from promotion. Their encounter with cryptocurrencies was a signal that they should do the promotion and be paid in return. This trend started with YouTube users such as Logan Paul who were the first to make crypto their endeavor. Of course, some of it proved to be a scam, and now people from TikTok are afraid that this could happen to them. This is why they went to an all-out war against digital currencies on their network. The adverts promoting crypto have become more frequent than ever. Despite the fact there was money to be made for TikTok creators, they were stripped of the opportunity to earn this way.
Who Is Affected?
Many companies involved with both crypto and this social media platform will be devastated. Trust us, we’re not talking about few and far between. No, many entrepreneurs and firms headed the TikTok way to promote their work. So, many saving apps, crypto exchanges, and crypto trading firms will be stripped of the chance of getting promoted here. But, TikTok isn’t budging an inch. The reason is simple. They’re not heading against these firms and individuals. They’re sanctioning their creators, and want to reduce their fees for accepting to promote cryptocurrencies. It is nothing personal, but in the sea of legitimate firms and people wanting to get their business promoted, there were even more of those who were looking to scam someone, get-rich-quick schemes, and debit card fraudsters. So, drastic measures were needed, and the first steps were already taken some months ago. There are no more paid crypto promotions on TikTok. If you’re looking for a contribution to your venture outside this platform, and crypto is your thing, you can always visit profitbuilder-app.com/de.
Is There a Joint Future?
The way things stand right now, there isn’t. Juventus managed to ship Aaron Ramsey to Rangers in Scotland, and TikTok is doing the same to cryptocurrencies. The changes preventing crypto are already in power, but this doesn’t make creators hopeless. No, many of them are still trying to push their content without a second thought. The matter of the fact is that many of them do not even know what they’re promoting, but are still doing it. Once established as a good and well-paid material for promotion, crypto was abused by creators, and mostly wrongfully.
The biggest issue is the thin line between promoting true cryptocurrencies and businesses that want to get involved with them, and spam content intended to fool people. Users who want to do honest work, are asking the company for stricter guidelines that will help them earn money and remain on the platform without breaking the rules. This might pose an issue, as not even digital currencies are fully regulated and we’re sure that TikTok doesn’t have the full set of rules put in place for a situation like this one. The worst part is that a direct line of communication between people in TikTok and the creators still hasn’t been established.
While TikTok is right to defend its interest and the platform which is progressing amazingly, many creators are already announcing their plans of switching to other platforms. This doesn’t concern the company too much as the number of their users continue to grow in all the right demographics. Furthermore, their policy is already in place and they’re backing on it. The company is adamant about keeping the feud with crypto ongoing. They don’t have issues with prompting other financial instruments on their platform. Of course, they’re only allowed to target users older than 18. But crypto is off-limits for everyone.
Conclusion
While TikTok was swift to clean the playground for crypto bullies, not everything is dark. At the moment the doors are closed for digital currencies and creators dealing with them, but things could change in the future. Ads promoting crypto are banned as of now, but who’s to say it will remain like that? The situation was similar with Google and crypto, and we now have that situation and advertising resolved. While TikTok is growing each day, they’re nowhere near the size of what Google is. Their stance could change, and it might in the future. After all, they’re not the cleanest company in the world. We all make mistakes, and while rules are rules, we might start seeing them more as guidelines. And talking about guidelines, they might become clearer even as we speak. In the same way, Google did, TikTok should allow the promotion of cryptocurrencies, e-wallets, and all other services involving crypto on their platform. Everyone would benefit, and their user’s most of all.
