Full reviews of the top Bitcoin advertising networks.
I have personally used every network listed here, if you have any questions ask in the comments below.

Last Updated: October 13th, 2017

BitMedia.io

• Payment Frequency - On Request
• Minimum Payout - 0.01 BTC
• Commission Type: CPC, CPM

Bitmedia is a PPC (pay per click) and CPM (cost per thousand impressions) network. Bitmedia has fairly strict requirements for becoming a publisher and they review every site carefully before accepting it in their advertising network.

Bitmedia claims to take a 20 30% cut from publisher earnings, which is on par with many other ad networks in the industry.

Bitmedia does accept sites in any genre, however they definitely prefer to work with cryptocurrency and Bitcoin related websites.

From the advertiser side, Bitmedia offers geo targeting, device targeting, day parting, frequency capping and ad retargeting. The offer both image and text ads.

Overall Bitmedia is one of the higher quality Bitcoin advertising networks and has a solid reputation in the industry. Strict approval guidelines keep the shadier sites out and improve the experience for advertisers and increase earnings for publishers.

The top CPC (cost per click) for Bitmedia is currently around $1.50. Which means publishers would earn about $1.00 per click for the top bids. However, you can expect to earn closer to $0.15 to $0.60 per click on average.

MellowAds.com

• Payment Frequency - Daily
• Minimum Payout - 0.0001 BTC
• Commission Type: CPC, CPM, PPV, Pay Per Day

Mellow ads is one of the most well known advertising networks in the Bitcoin space. They are very transparent and provide full stats of their advertising network. Mellow ads currently offers PPC, CPM, Popunder & link shortening for publishers and advertisers.

Mellow ads is currently only accepting new sites with an Alexa Rank of less than 200,000 that are over 3 months old. This previously used to to be 1 million, so one could assume they are trying to increase the quality of their network.

CPM campaigns run from 0.0002 to BTC to 0.0005 BTC while CPC campaigns average 0.00002 per click. That currently works out to roughly $2.50 for CPM campaigns and $0.10 per click. Mellow ads only takes a 10% cut from publishers so you can expect to earn close those amounts. Of course actual earnings will depend on traffic quality and the daily network pool (how many advertisers and funds their are).

Popunder campaigns on Mellow Ads are in the 0.0008 BTC to 0.001 BTC range - currently about $4.00 per 1000 popunders.

Mellow ads also offers a link shortening service for Publishers, similar to Adf.ly.
Shorten your links and send traffic to them for extra earnings. You will earn based on the % of the traffic you send for the day, and will be rewarded with your share of the network pool.

Additionally, for advertisers, Mellow ads offers a free Bitcoin faucet that pays out from 1,000 to 10,000 Satoshis every day. The faucet earnings can only be used to pay for campaigns on Mellow ads however.

A-Ads (Anonymous Ads) - A-Ads.com

• Payment Frequency - Automatic When Threshold Reached
• Minimum Payout - 0.0001 BTC
• Commission Type: CPC, CPM, PPV

Anonymous Ads is an interesting network. You do not need to create an account to advertiser or to become a publisher (though you can if you want). Instead, you simply use your Bitcoin address to manage your account.

Anonymous ads offers both image and text ads and works on a CPM and CPC basis. They offer full transparency and stats for the network and you can track your own ad units stats in real time as well.

Earnings seem to fluctuate wildly on Anonymous Ads, based on the number of advertisers currently running campaigns. You can expect to earn pretty low CPM's and CPC's. I've seen EPC's as low as 50 Satoshi, though they usually seem to be closer to 200 Satoshi (less than 1 cent still).

That said, they are definitely worth trying out - the ad units are simple to create and it only takes a few minutes to test them out on your website.

If you're an advertiser you can select targeting options based on site quality and choose which categories or specific websites you would like to advertise on.

RunCPA.com

• Payment Frequency - On Request or Hourly, Daily, Weekly
• Minimum Payout - No Minimum
• Commission Type: CPA, CPL, Revenue Share

RunCPA is a CPA (cost per action) only network. Publishers only earn when their traffic converts and advertisers only pay when they get a conversion.

If you have high quality traffic you can do very well with RunCPA. However, if you have a high volume of low quality traffic you probably will not get very many conversions and are better off sticking with CPM and CPC campaigns.

Offer payouts range from $0.10 to $10 per lead and there's a wide variety of offers to choose from. They also offer ongoing revenue share (affiliate programs) which can add up over time if you're driving a lot of leads.

CoinZilla.io

• Payment Frequency - On Request
• Minimum Payout - 0.01
• Commission Type: CPM, CPC, Pop Unders

Coinzilla is one of the highest quality Bitcoin advertising networks. They have fairly strict acceptance guidelines and only accept websites with an Alexa rank of under 1 million. Websites also have to be over 3 months old and use a unique design (no cookie cutter websites). They offer a 0.01 BTC bonus for all new publishers upon account approval.

Coinzilla is primarily a CPC and CPM network but they also offer popunder traffic. They focus mostly on Bitcoin related websites but do accept websites in other categories as well.

Overall, Coinzilla is a solid network with higher then average payouts and higher quality traffic than most networks. You will see Coinzilla ads on a majority of the most popular Bitcoin websites as well as most of the highest traffic Bitcoin faucets.

If you can get accepted as a publisher they are definitely worth trying out.

ImageTwist.com

• Payment Frequency - On Request (1 - 7 day wait after requesting)
• Minimum Payout - $4.00
• Commission Type: Image Viewing URL's

Imagetwist is a little bit different then most ad networks. You upload as many images as you want to the service then share the image URL's. Every time a user clicks the image URl (and clicks "Continue") to view the image, you will be paid.

Most of the ads displayed on ImageTwist are adult and NSFW, so keep that in mind.
Payout rates in Tier 1 countries (US, UK, AU, CA) are very competitive at around $5.00 per thousand views. Teir 2 and Tier 3 traffic does not pay very well.

Imagetwist has a strong reputation for paying out on time and they have been in business for years. Highly recommended if you have a lot of viral or image related traffic.

You can also upgrade your account to Premium for $3.00/mo in order to get faster payout processing and unlimited image hosting.

CoinHits.com

• Payment Frequency - On Request
• Minimum Payout - 0.01 BTC
• Commission Type: CPM, CPC

Coinhits is a middle tier network that offes both CPM and CPC campaigns. They use an off the shelf advertising script that I've seen in use by many smaller fly-by Bitcoin advertising networks. However, they do seem like a solid network and have earned a reputation for paying out consistently.

Coinhits does not seem to have very many active advertisers - you tend to see the same 3 or 4 ads over and over again, which can lead to lower CTR's. That said, they payout roughly 800 Satoshis per click (about $0.05 currently), so if you have a lot of traffic you may do alright.

Worth testing - sign up and approval is straight forward and quick. Stats are slightly delayed but to seem to update every hour or so.

Note: As an alertive you can also try BitcoAdz which uses the same script as Coinhits but seems to have less advertiser activity and much lower EPC's (50 Satoshi per click - ouch!).

Bee-Ads.com

• Payment Frequency - On Request
• Minimum Payout - 0.01 BTC
• Commission Type: Pay Per Day

Bee-Ads is a smaller bitcoin advertising network which works on a pay per day revenue share model. Publishers are paid based on the percentage of impressions they delivered for a particular campaign (or the network total).

There doesn't seem to be a lot of activity on Bee-Ads but it's worth trying out if you can't get approved in one of the more well established networks.

CoinUrl.com

• Payment Frequency - On Request
• Minimum Payout - 0.01 BTC
• Commission Type: Interstial - URL SHortener

CoinURL works like a typical URL shortener. You get paid every time a user visits the URL and watches the ad/website for 10 seconds and clicks through to the destination website.

They appear to pay out between 15 and 45 Satoshis per click, which works out to $0.85 to $2.40 per 1000 clicks. Payouts will of course vary by country, traffic quality and the current advertiser pool. That said, this is quite a bit lower then most major URL shorteners like Linkbucks, Short.est and Adf.ly