No, you can’t. If you do, your blog will be suspended or deleted. These instructions relate to the Paypal donate button. Reselling and blogger-initiated paid advertising are against the Terms of Service.
Also, familiarize yourself with the differences between wordpress.COM blogs and self-hosted wordpress.ORG blogs. On self-hosted blogs, you have virtually no restrictions other than those placed on you by the third-party web host. It could be that you were seeing ads and affiliate links on self-hosted blogs.