HOW CRYPTO EXCHANGES MARKET THEMSELVES: EXPERT TIPS

Marketing a crypto exchange isn't just about "buying traffic. It’s a complex system with dozens of tools — each one only works when backed by a solid strategy. Based on the expert interviews, this guide reveals how top exchanges attract and retain users.

How do exchanges make money?

Many assume exchanges earn only from spot trading fees. In reality, it's more nuanced:

• Futures are the key revenue stream. They generate the highest volumes and fees.
• Institutions are already here, responsible for up to 80% of volume, but not necessarily profit. Chainalysis reports that over 90% of crypto volume comes from transfers over $10,000. Coinbase stats reflect this trend.

Sourse: TheBlock, Total volume on Coinbase. Updated quarterly, 2018-2025

• The retail audience is a key source of profit — up to 65% of revenue comes from regular users. That’s because fee structures vary between segments, meaning higher volume doesn’t always translate into higher revenue. For example, P2P trading isn’t a significant source of income compared to futures. VIP programs, volume-based discounts, and rebates for large players make them valuable to the exchange in other ways, but not in terms of fee revenue.
• A sustainable business model for a modern exchange doesn’t rely solely on retail traders. It’s crucial to attract high-volume players — HFT traders, scalpers, brokers, prop trading firms, and others — as this segment is essential for building liquidity.

So, the goal is to bring the exchange to traders’ attention. How can we do that? Let’s break it down step-by-step.

Source: Interviews with active traders

Step 1: Build Hype with Influencers, Referrals, and Tournaments

• Influencers are a key channel for attracting retail users — almost every trader follows someone. In the beginning, it’s better to focus on trusted crypto KOLs rather than just big-name celebrities — they’re more credible and convert better. Mainstream influencers without a crypto focus are great for reach and awareness. They work well for loud launches or scaling when paired with posts from niche KOLs.
• Referral programs don’t just motivate users, they also become a viral traffic channel. They’re often promoted through influencers and built with multi-level structures: referrals and sub-referrals. Exchanges also use “financial engineering” in referral design, structuring incentives so the token encourages users to keep inviting others. A strong referral program is one of the pillars of successful exchange marketing.
• Tournaments are a powerful tool that serves multiple purposes at once:
  • A strong PR hook for marketing campaigns and increasing visibility;
  • A way to activate the community and get users engaged in trading;
  • And at the same time — an additional revenue stream! Yes, fees from participant volume often more than cover the cost of prizes and promotion.

Step 2: Build Trust and Presence

Up to 80% of the budget goes to acquisition, and only 20% to reputation, even though that’s what determines the project’s survival.

• Reputation is built through PR, SEO, and SERM — not just media buys. Sure, these channels won’t bring quick conversions and take months of work, but over time, organic traffic can account for up to 20% of the exchange’s flow. Our research shows that traders only start once they trust the platform.

• Offline events, online activities, and ambassador programs help build a loyal core community and turn users into brand advocates. This is especially important for new exchanges or those entering a new market — it’s how you build and maintain user trust.
• An exchange also needs a spokesperson — someone who puts a human face on the brand, easing user anxiety and building trust.

Step 3: Build a strong community and leverage airdrops

• Airdrop hunters aren’t just “freebie chasers” — they’re a short-term growth driver. With the right approach, many of them can stick around and become active traders.
• Exchanges often list projects with airdrops — it boosts visibility. But it’s crucial that the project is solid and brings a real, engaged audience with it.
• Hint at upcoming exchange and partner project drops in advance — through social media, roadmaps, and “leaks” from KOLs. This alone creates buzz and gives people a reason to join the community. However, it’s critical to maintain interest up to the drop through consistent updates and engagement.
• The most important part comes after the drop — retention. That requires strong community management, engaging activations, and well-designed product mechanics that motivate users to trade. Want to know how to build a strong community? Read more here.
• Don’t waste traffic before you have a core community. At least 1,000 active, engaged members is the baseline. Without that, paid ads won’t convert. Build the community first, scale performance later. Community is not a campaign — it’s a continuous process.

Step 4: Use tokens as a marketing tool

• An exchange token is a powerful channel for free marketing — if the mechanics are designed right to encourage its use.
• Many users come to an exchange for a specific coin. Asset variety is one of the main reasons traders decide to try a new platform. That’s why some exchanges even list shitcoins — and yes, it’s not a bug, it’s a deliberate strategy.
• Risky instruments — like high leverage or access to “dangerous” assets — attract traders and generate higher fees. But they require extra oversight from the exchange. It’s always a strategic choice: more user interest and volume, or more safety. 
• Hype token listings are powerful marketing moments. But it’s not just about adding the token — the key is to actively collaborate with the project: co-marketing, cross-posts, joint AMAs, Spaces, events, and other collab formats. This helps attract the token’s audience and boost visibility.

Step 5: Make onboarding and education easy

• Gamify onboarding — with tasks, demo accounts, non-withdrawable bonuses. Add gamified learning too: badges, NFTs, tokens for course completion.
• Embed video tutorials directly into the interface so users understand why they’re here and how to get started. Also publish educational videos and walkthroughs on YouTube — it helps with discoverability, onboarding, and building trust.
• Exchanges with an educational hub have a long-term advantage. For some, up to 80% of their organic traffic comes from their learning platform.
• Content should come in two formats for two audiences:
  • Simple — for SEO and attracting newcomers.
  • In-depth — to win over active, experienced traders
• Brand experts and representatives should be the ones creating educational content — it reinforces the exchange’s reputation and builds trust in the team behind it. Alternatively, you can co-produce courses with KOLs and trading schools, turning their audiences into loyal users.

Sounds like a lot of work? Connect us — we’ll help