Keystone

Keystone needed to acquire hardware wallet buyers across European crypto markets efficiently, reaching multi-chain investors who value open-source security architecture over closed proprietary alternatives.

Two challenges defined what that required:

• Niche audience: Reaching open-source advocates and multi-chain investors required precise behavioural targeting beyond broad crypto holder segments with no self-custody intent.
• Purchase cycle length: Hardware wallet buyers research security architecture extensively before committing. Moving prospects from awareness to purchase required sequential messaging across multiple touchpoints.

Keystone needed an ad network with verified crypto-native audiences and the inventory to reach security-conscious multi-chain holders across research and application touchpoints simultaneously.

Blockchain-Ads provided the targeting infrastructure and channel mix to reach high-intent hardware wallet buyers at every stage of the purchase journey through four capabilities:

• Multi-chain investor and DeFi user targeting: Campaigns reached verified multi-chain holders and DeFi-active wallets with demonstrated self-custody interest and diverse portfolio management behaviour.
• Hardware wallet segment access: The platform identified users actively researching hardware wallet solutions, capturing prospects at peak purchase intent.
• Multi-format inventory: Display, native, and in-app wallet placements covered editorial research environments and decentralised application interfaces across Europe.
• CPA-based optimisation: Campaigns optimised toward completed wallet purchases from day one.

• Wallet purchases: 572 at $52.45 CPA
• Total revenue: $93,000 inclusive of steel backup accessory sales
• ROAS: 3.1x return on $30,000 spend
• Impressions: 2M+ delivered across European crypto and finance inventory
• CTR: 0.91% blended across both phases
• CPC: $1.64 blended across both phases
• Conversion rate: 3.12% from click to completed purchase

The objective was to establish baseline purchase performance across European crypto audiences. Budget allocated across display (60%), native (25%), and in-app wallet inventory (15%).

Three creative angles launched simultaneously:

• Open-source firmware transparency and verifiable security architecture.
• Air-gapped QR code transaction mechanics versus USB and Bluetooth alternatives.
• MetaMask and software wallet compatibility messaging.

Early data showed native placements generating a disproportionate share of conversions relative to budget allocation. Thus, indicating strong purchase intent among research-stage buyers in crypto editorial environments. Retargeting tags captured users who clicked through but did not complete purchase.

Retargeting campaigns activated against Phase 1 non-converters using sequential air-gapped security demonstrations and MetaMask integration messaging. Native inventory received increased allocation based on its Phase 1 conversion efficiency. All three creative angles were retained given consistent performance across their respective audience segments. The campaign closed with 572 verified wallet purchases at $52.45 CPA. It also recorded $93,000 in total revenue and 3.1x ROAS inclusive of steel backup accessory sales across the European cohort.

This campaign ran on native advertising and display advertising. See how Blockchain-Ads supports crypto advertising. Related case study: Mercado Bitcoin.