PolarixGrowth Partners Search/
Discuss a project
Industry

Crypto

Exchanges, swap services, trading platforms, trading bots, crypto cards and Web3 apps: each segment has its own funnel and its own target metric. Here a deposit is not the finish line but the starting point: a campaign is measured to the first trade or to an active address, and retention is judged by return visits rather than repeat top-ups.

Funnel

How we measure the path to deposit

Visit to site or appCTR 0,8–3,5%Traffic from X and Telegram clicks better than paid ads: a click driven by a creator recommendation outperforms a banner. Paid buying delivers a noticeably lower CTR.
Sign-up or wallet connect4–15%On a CEX it is email registration; on a DEX it is a one-click wallet connect. DEX conversion is higher but entry value is lower: no commitment and no user data.
Verification (KYC)55–75%The campaign's key interim metric. The pass rate is driven by country and platform requirements: the more documents requested, the steeper the drop-off.
First trade15–40%Verified-user-to-first-trade conversion. On an exchange offering a first-trade bonus it approaches 40 percent; without an incentive it sits around 15 percent.
Day-30 retention20–35%Share who made a repeat trade within a month. Below 20 percent the source is bringing curious onlookers, not traders.
Typical mistakes

Where budget gets lost

Mistake 01

Country restrictions shift mid-flight

An exchange accepting users from a country today may close sign-ups tomorrow. The permitted-jurisdiction list is cross-checked before every launch, not once at onboarding — otherwise budget flows where registration is already closed.

Mistake 02

KYC bleeds budget silently

A cost-per-registration report looks good until the share who reach verification is counted. At a 50 percent KYC pass rate the real cost per target action is double what the report states.

Mistake 03

Inflated trading volume

Wash trading and self-deals inflate turnover on paper. Spotted by unique addresses per unit of volume: when one address generates an abnormal share of turnover, the reported figure does not correspond to real users.

Mistake 04

Yield promises shut down the channel

Mentioning returns, APY or payback guarantees in ad copy violates platform policies and, in many jurisdictions, the law. Google, Meta and Apple pull such ads without warning; repeat cases lead to account lockout.

Results

Anonymised launches

South KoreaAPAC · Exchange (CEX)
YouTube · X
$58 0006 weeks410 first trades$141.5 per trade

YouTube breakdowns accounted for 60 percent of trades on 40 percent of the budget. KYC pass rate reached 68 percent, above the Asian market average.

Country and sources
SingaporeTier 1 · APAC · Trading platform
Google Ads · Crypto KOL
$44 0008 weeks195 first trades$225.6 per trade

An expensive market with a demanding audience: the average first-trade size covered the acquisition cost within one week of trading.

Country and sources
IndonesiaTier 3 · APAC · Swap service
SEO & Organic · Telegram
$18 0005 weeks4 200 completed swaps$4.29 per swap

Position in rate aggregators produced 70 percent of requests. Organic traffic on USDT swap queries matched paid by week four.

Country and sources
VietnamTier 3 · APAC · Mini App (Web3)
Telegram Communities · Paid Social
$14 0004 weeks7 400 active addresses$1.89 per active address

Of 28,000 who opened the app, 7,400 remained active on day seven — just over a quarter. Entry cost was $0.50, but measuring by it is meaningless.

Country and sources
ArgentinaLATAM · Trading bot
Paid Social · X
$25 0005 weeks580 first trades$43.1 per trade

The X audience converted three times better than the paid one: people arrived after a strategy breakdown, not from an ad banner.

Country and sources
EgyptMENA · Exchange (CEX)
Crypto KOL · Telegram
$36 0006 weeks280 first trades$128.6 per trade

KYC pass rate was 57 percent. Arabic-language KOL channels brought a higher-quality audience than English-language ones — the share reaching a trade was 40 percent higher.

Country and sources
Coverage

Regions for this industry

Deposit price corridor by region. Each region has its own page with the source matrix and countries.

All regions and the source matrix

How the niche works

What blocks buying directly

Google Ads and Meta reject crypto products in most regions; where they don't, they require a local license. That leaves search, affiliates, and people.

$8–24CPM
$9–40Cost per registration
35–60%Reach KYC
4–8 weeksFlight
Channels

Where the volume comes from

YouTube analytics

Fee and liquidity breakdowns. Long shelf life, indexed by search.

long tail

Telegram

Fast reach timed to a date, easy to track via promo code.

spike around a date

Crypto Twitter

Threads and quote tweets. Cheap, but burns out within a week.

burns out in a week

Discord and AMA

Closed communities. Low reach, high conversion.

steady and small
Metric

What counts as a result

Verified sign-up, not an app install. More than half drop off between the two.

Media plan in 48 hours

Calculated for your GEO and budget

Describe the product, GEO and budget — we come back with a media plan in 48 hours. Free and without obligation.

Get the media plan
Media plan in 48 hours