How to Monetize Your Website with Cryptocurrency
Online advertising has become troublesome for all parties involved – customers are tired of annoying ads that disrupt their user experience and sometimes contain malware, businesses have no way of knowing if the clicks data are even accurate, and large-scale advertising platforms like Facebook are fighting ad blockers.
Enter Bitcoin and blockchain: learn how cryptocurrencies and distributed ledgers will revolutionize online advertising and make it into a win-win situations for all stakeholders.
Online ads slow down the pages being downloaded, hide the page content and sometimes contain malicious software (even on such high-profile websites as bbc.com). Users are increasingly avoiding ad-filled pages or using ad blocking software. As a result, advertising industry including ad giants like Facebook are losing profits and businesses lose visibility.
A recent study conducted by Facebook showed that younger consumers are more willing to accept online advertising and data collection, but across the spectrum, the users prefer personalized ads that are relevant for them.
Blockchain and cryptocurrencies could change the way online ads are purchased, delivered and valued, and even may lead to the emergence of accurate ad tracking statistics and more targeted advertising.
Ad Buys to Help Build Trust
A perennial problem for an online business is counting clicks or followers and distinguishing real customers (people) from bots or hired clickers. According to the research , businesses lost over $7 billion of lost profit to bots in 2016.
Blockchain is transparent and immutable, so all the ad viewing statistics is easily traceable to customers, and businesses are able to determine if those who viewed their ads belong to their target audience or not. This will help them save millions in ad budgets. An example of such blockchain is adChain, an Ethereum ad ecosystem where users get access to campaign auditing and encrypted impression tracking.
Getting rid of intermediaries
Leveraging the benefits of blockchain, companies can pay their target audience directly for paying attention to their ads and bypass the ad purchase process. Besides, the businesses will know for sure that the audience paid attention to the ads by using micro-currencies and micropayments to reward users.
A good example is Basic Attention Token (BAT) introduced by the Brave browser. It allows businesses to pay users for viewing their ads, thus making it possible to connect with people who will be really interested in buying and using their products.
Blockchain will help advertisers to build the customer profile using the data submitted by the customers themselves. This option allows businesses to cater directly to the specific customer’s needs and make huge savings on their advertising budget.
Cryptocurrencies for Paywalls
Customers would prefer to avoid paying bank or card fees each time when they need to pay a couple cents to read a post behind a paywall. Bitcoin and other cryptocurrencies will allow them to eliminate middlemen and still remain anonymous.
There are a number of technologies in the pipeline that allow users to make cryptocurrency micropayments for their favorite websites in one click. For example, the Brave browser blocks ads while making it possible for users to pay content providers directly.
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