September 09, 2021 0 953

Generating $103 795 by Promoting Crypto Offers on Facebook at a 397% ROI

Today we bring you a grey hat crypto case study from one of the affiliates working with CMaffiliates. In this case, the affiliate was able to make $103 795 revenue with a 397% ROI by promoting two crypto offers using Facebook ads.

Read along to learn how he was able to make this crypto campaign work on Facebook and how he was able to survive the bans and attain a high ROI that left him with a profit of $82 919.

Campaign Details​

  • Traffic Source: Facebook
  • Affiliate Network: CMaffiliates
  • Offers: Bitcoin Profit Greece, BTC System Portugal
  • Geos: Greece, Portugal
  • Cost: $20 875
  • Revenue: $103 795
  • Profit: $82 919
  • ROI: 397%

Getting Started
At the end of April 2021, the affiliate wanted to test a bunch of non-trivial GEOs for crypto offers using Facebook ads. Considering the fact that the GEOs were not large, he expected Facebook moderation to be less aggressive in those countries.

He then reviewed the campaign resources and began to plan on how to test. The biggest task he had with this campaign was to push and convert the old aggressive pre-landers with celebrities, but remaking them in a new way.

The affiliate managers suggested that he should test offers on a CPL basis to reduce the risks and ad costs. The affiliate then chose to start with a couple of GEOs that have native call centers which were Greece and Portugal.

The affiliate then dug up old pre-landers and also asked the affiliate managers to provide him with some landing pages, which they did. He then modified and retouched them, then put them to test.

Below is one of the landing pages that he customized and used in Greece. This was the best-performing lander:

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This was the best landing page in Portugal:

The affiliate used an aggressive marketing approach on these landers because, at the end of the day, the landers would get banned. This celebrity angle helped him to gain high trust from the audience but it led to bans, which he had to endure.

The Creatives
He tested two angles on the creatives:

  1. Pictures with celebrities. It was a weak approach, but when promoted aggressively, it converted a lot of leads at a cheap CPA. Facebook kept on banning this angle.
  2. 10/20/30-second videos with professional voice acting in the native language. Here the situation was much more interesting. Facebook still allows pushing in rather aggressive approaches on videos with celebs.

The Results

The main feature of these campaigns was the creatives. In symbiosis with highly converting offers and native call centers, they squeezed out the maximum profit from incoming leads.

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All of the winning video creatives were outsourced. Using originally made creatives helped the affiliate acquire leads at ridiculously low prices and minimize bans.

Placements that were used:

  • Facebook feed
  • Instagram feed

He kept the targeting as wide as possible (M/F age 35+).  This helped to increase the email list for the advertiser which has a high lifetime value.

Below are the results after 3 weeks.


  • Reg2FTD: 3-4%
  • Cost per lead: $5-8


  • Reg2FTD: 6-7%
  • Cost per lead: About $10

Total Cost: $20 875
Total Revenue: $103 795
Profit: $82 919
ROI: 397%

Tips for Working with Crypto Offers​
The affiliate had taken several years without seeing such a high ROI. This test got him good results and it made him realize the several components that can build successful crypto campaigns today.

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  • History repeats itself​
    As this campaign shows, all old landing pages work well, even the aggressive ones. They just need a fresh twist in the form of original creatives that Facebook and users haven't caught on.
  • Offers and high-quality calling of leads​
    You can send a ton of traffic, but if the advertiser doesn’t do his job of converting them very well, then all your costs and efforts will go down the drain. The expertise of the affiliate network is important here.

  • Perseverance
    Don't give up after the first setbacks. To find winning campaigns, you need to test dozens of them. From his experience, if the campaign immediately starts at a point where it’s breaking even or with a positive ROI, then it is a stroke of great luck.
    For affiliates with a few resources, start with the crypto offers that convert on a CPL basis. This is an easy way to test your hypotheses. CMaffiliates have many CPL GEOs, both the expensive and less expensive ones.
  • Test rare GEOs
    Don’t be afraid to test rare GEOs even if you don't know the language or it is difficult to translate it on your own. There are always freelance translators and online tools. You can start with Google Translate. Generally, such rare GEOs bring the greatest profit.

Finally, don’t forget to do preliminary reconnaissance on the geo in which you plan to promote because each geo has its own characteristics. Be sure to ask your affiliate manager for advice.

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