How We Scaled a Crypto Exchange Through 2 Channels and Tested 2 Different Acquisition Models
Services
Challenge
Kuna Exchange is a Ukrainian cryptocurrency exchange. Its core business model is bringing users into the app, where they register and perform trading operations. The goal was to scale installs and identify the most economically efficient growth model. At the same time, YouTube was tested as an audience warm-up channel.
Goal
Increase app installs and lower acquisition cost. Test YouTube as a warm-up channel and compare its performance with the direct install model. Build a scalable system through Google Ads and Meta.
Results
Key problems before launch
- scaling was not systematic — without deep audience segmentation
- YouTube was used without clear ad logic and KPI
- there was no understanding of which acquisition model was cheaper and more scalable
- optimization was not based on clear performance metrics
Two competing hypotheses — direct and content-based acquisition — needed to be validated with numbers.
Google Ads — the main scaling channel
We launched App Campaigns on Android and iOS optimized for app installs:
- different audience segments
- banner creatives and videos
- message testing
- work with algorithm signals
YouTube ads were also launched through Google Ads as part of the content-model test.
Google result: 190,000+ installs, CPI ~$0.55–0.60. The channel became predictable and scalable.
Meta Ads
Meta was used as an additional channel: installs, engagement, traffic, and YouTube support. Through the YouTube campaigns, we also gained 3,000+ subscribers.
Testing two models
Model 1 — direct: Ad → Install → Registration → Trading
Model 2 — content-based: Ad → YouTube → Subscription → Trust → Exchange
By the numbers, the direct model delivered faster results, clearer analytics, and better economics. The content model worked, but required more steps and had weaker transparency.
What Worked
A focus on installs rather than on a beautiful concept — the direct acquisition model proved more effective and profitable.
The right setup in App Campaigns: audience segmentation, creative testing, message testing, and strong algorithm signals.
Using YouTube as a test rather than an all-in bet — we validated the hypothesis with numbers and made decisions based on data.
The synergy of Google App Campaigns + Meta as an additional channel to reach different audience segments.
Decision-making based on numbers — rejecting a more complex content strategy in favor of a scalable direct model.
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