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How We Achieved FTD CVR 3.1 Times Higher Than KPI For CoinSwitch Cryptocurrency Exchange Platform

Download the PDF version of the case study

Campaign Goals worked with our partner, digital marketing agency Social Donut, to acquire engaged users for CoinSwitch Kuber cryptocurrency exchange platform.

Along with the ultimate goal of First-Time Deposit CVR, we were given a set of KPIs representing user flow at different stages of the user funnel: CPI, Registration -> KYC (Know Your Customer) ratio, and KYC -> FTD conversion.

Results at a Glance:

Campaign Scaling

within six months of starting the campaign


higher than KPI

KYC to FTD ratio

higher than KPI



Our proprietary programmatic DSP is integrated with all major SSPs and can process more than 1.5M QPS of in-app inventory. The use of an ML algorithm allows us to apply user-level targeting, based on real-time request data and aggregated data from our DMP, to run effective UA.’s platform infrastructure is designed to focus on user behavior, rather than just ad placements, and enables us to reach the most relevant users at the most opportune time.

The initial campaign setup, based on an analysis of the unattributed data provided by the client and our proven strategies to build a lookalike audience interested in crypto and stock trading, brought results well above KPI. In the first month alone, we achieved three of four KPIs (CPI, Registration -> KYC conversion, and FTD CVR). Once the ML model established a robust install-target model, we scaled it up by 15% to bring more users who were targeted based on the criteria determined by ML during the learning period. was able to acquire users with a high probability of conversion based on four KPIs, which resulted in our second campaign scaling by 116%. Process Machine learning

“We are a crypto company and our goal was customer acquisition through innovative marketing creatives. We were facing a significant challenge with our partners, especially in terms of quality and scale. had shown us significant improvements in both engagement and growth. ”

Mayukh Bardhan, Digital Marketing Manager @ CoinSwitch

Campaign Results


Following the analysis of the unattributed data provided by the client and the aggregated data from our DMP, the initial user segmentation and campaign performance has produced CPI below the KPI. As more data was collected throughout the campaign, we were able to better classify users for enhanced performance.

Graph 1. CoinSwitch Campaign CPI over The Course of Months


During the initial ML model training period, the data collected enabled the models to classify users into two key groups:

1) users who were likely to convert by registering in the app, filling in the KYC form, and making their first deposit (FTD), and

2) non-converting users who would not complete the funnel.

Following the user classification, the bottom-line KPI—the FTD CVR—began to steadily increase. 
As the campaign continued to run and the scale increased, was able to produce FTD CVR 3.1 times higher than the KPI.

Graph 2. FTD CVR vs. KPI



Being a machine learning-based data-driven DSP, provides exceptional performance as the ML algorithm is adjusted based on the specific conversion targets and continuously optimizes the campaign toward KPIs.  

The ML model optimization, along with constant campaign optimization, leads to spiking increase in KYC to FTD deep funnel conversion. Following the constant model optimization and campaign optimization, accomplished KYC to FTD conversion 3.7 times above the KPI by Month 6.

Graph 3. KYC to FTD CR over the Course of 6 Months


About CoinSwitch

CoinSwitch Kuber is a secure, user-friendly crypto trading platform for users in India. It allows users to buy 80+ cryptocurrencies—like Bitcoin, Ethereum, Ripple, etc., —easily and at the best rate, with a variety of payment options being offered. After completing the KYC/AML procedures, users can access the pooled liquidity of the leading cryptocurrency exchanges in India to get the best rate and trade instantaneously. The CoinSwitch Kuber app is the best cryptocurrency exchange for Indians, as it provides them a seamless user experience through a simplistic user interface.

“ is a powerful programmatic platform that is easy to set up and use for our agency. provides us with a 360° view of our customer acquisition process. This helped us move away from the traditional customer acquisition channel and provide actionable insights that helped us optimise and scale quickly.”

Himanshu Pandey, Digital Head @ Social Donut

About is a mobile-first DSP operating worldwide. Using our proprietary bidder and machine-learning algorithms, we offer transparent, performance-driven, highly-targeted UA and retargeting solutions at scale with access to over 1.5 Million ad auctions per second. We are trusted by CoinDCX, Games24x7, Ubisoft, Tilting point and many others. strives to be more than just a vendor for its partners, but a partner that helps generate actual value, growth, and broad marketing insights that can be used across channels.

“We are truly happy to associate with the team that believed in the medium, and was open to suggestions and ideas. Our long-term association is a true example of how important our partnerships have been in the User Acquisition journey.”

Rajesh Fatnani, India Country Manager @
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