Binance

Binance needed to acquire verified new traders in target markets through a channel that could reach crypto-active users with sufficient precision to justify the cost at scale. Four obstacles defined what that required:

Key Obstacles

• Platform restrictions: Google and Meta restrict crypto exchange advertising in several of Binance's key acquisition markets, limiting reach on the highest-volume paid channels.
• Audience depth: Reaching retail investors with demonstrated crypto intent required more than interest-based targeting. Broad networks could not identify wallet-active users at the segment level.
• Retargeting infrastructure: Converting users who had already engaged with Binance required a platform capable of building and activating a verified retargeting audience within a crypto-native environment.
• Conversion efficiency: The campaign needed to demonstrate CPA efficiency across both cold prospecting and warm retargeting to justify ongoing investment in the channel.

Standard programmatic networks served Binance impressions to broad financial interest audiences rather than verified crypto participants. Google and Meta imposed advertising restrictions in several target markets, and broad retargeting networks lacked the crypto-native publisher environment needed to reach users already evaluating exchanges. Blockchain-Ads provided the wallet-level targeting and retargeting infrastructure Binance needed through four capabilities:

• Middle-of-funnel audience targeting: The Retail Investors (MOF) segment reached crypto-active users who had demonstrated investment intent through verified on-chain behaviour.
• Retargeting capability: A dedicated retargeting campaign activated warm audiences separately from cold prospecting, allowing spend and CPA to be read independently across funnel stages.
• Crypto-native publisher inventory: Ads ran in environments where the audience was already consuming crypto content and actively evaluating trading platforms.
• Engagement quality signal: The platform provided time-on-site and bounce rate data at the campaign level, enabling creative and audience quality to be assessed beyond click volume alone.

• New traders acquired: 4,100 across a 1-month campaign window.
• Retargeting delivered 41% of all verified conversions at 19% of total spend.
• Impressions: 2M+ delivered across Southeast Asia, Eastern Europe, and Latin America.
• CTR: 1.09% blended across all display placements.
• Trading volume attributed: $170,848 across the campaign window.

The campaign launched across five Retail Investors (MOF) creative variants, KV11 through KV15, running in parallel against crypto-active audiences across Southeast Asia, Eastern Europe, and Latin America. Each variant tested a distinct creative approach against the same audience segment to identify which messaging drove the strongest engagement and conversion signal. Display ads ran at consistent spend levels across all five variants to generate comparable performance data within the first two weeks.

Creative performance data revealed differentiation across variants. KV14 produced the highest conversion volume among prospecting variants at 6 conversions and $25,971 in attributed trading volume, while KV11 generated the highest impression volume at 418,500. Retargeting activated in parallel during this phase, targeting users who had clicked through from the prospecting campaigns but had not yet converted. The retargeting segment delivered a 45% bounce rate against the prospecting average of 78%, confirming meaningfully stronger engagement quality from warm audiences.

The retargeting campaign scaled as the primary conversion driver in the final phase. It delivered 39 of 95 total verified conversions at a CPA of $41, less than half the prospecting CPA of $125. Retargeting users spent an average of 1 minute 57 seconds on site against 19 seconds for cold prospecting traffic. The campaign closed with 4,100 new traders acquired, $170,848 in attributed trading volume.