Why Indian Crypto Exchange not Spending on Ads? – Katoch Tubes
Crypto exchange
& Ad Spending
Crypto exchange
& Ad Spending
The Good Old Days
The Good Old Days
In 2021, when BTC hit $69,000. Crypto exchanges burnt considerable cash in advertisement like celebrity endorsement.
The Spending Share
The Spending Share
The Ad spent breakup -1. CoinSwitch Kuber: 49%2. CoinDCX: 22%3. WazirX: 10%4. ZebPay: 10%5. Other: 9%
The market Crash
The market Crash
In 2022, Crypto markets witnessed the worst year. The trading volume in Wazirx alone fell by over 70%.
The Spending Plunge
The Spending Plunge
The top Indian crypto exchange like WazirX have witnessed 88% drop in crypto ad spending due to poor market conditions
The Taxation issue
The Taxation issue
In India, it wasn't just the market crash but heavy taxes on cryptos that discouraged users from trading on the platform.
More trouble
More trouble
Apart from taxation & slowdown, Indian exchanges are also facing money laundering charges that has added insult to the injury.
The Global Slowdown
The Global Slowdown
The Global ads spending by crypto exchanges have slowed down. Crypto.com reduced its budget from $15 million in Nov 2021 to just $2 million in July 2022