Airdrops Drive 35% of New User Registrations on MEXC

MEXC, a prominent global cryptocurrency exchange, has released a report indicating that airdrop campaigns are a significant driver of new user registrations, accounting for up to 35% of new sign-ups during peak months. This finding underscores the effectiveness of airdrops as a marketing tool for crypto projects aiming to attract new users and foster engagement.

The report highlights several key points. Firstly, airdrops are not only a marketing strategy but also a means of financial inclusion, particularly in regions with limited access to traditional banking services. Secondly, user behavior is evolving, with deeper mobile penetration and the involvement of gamification mechanisms influencing participation in airdrop campaigns. For instance, games like Hamster Kombat, Notcoin, and Yescoin have attracted millions of users, many of whom had no prior experience in crypto.

According to the report, 76% of users who sign up via airdrop campaigns remain on the platform. Of these, 18% become active traders, while 58% trade occasionally. The remaining 24% are one-off users who withdraw their funds without further engagement. Active traders, in particular, demonstrate significant trading volumes, with some achieving daily volumes exceeding $31 million.

The regional breakdown of airdrop participants shows that the CIS region leads with 67% involvement, followed by Southeast Asia at 51%, and South Asia at 32%. These regions are characterized by low levels of access to banking services, which aligns with the high rates of crypto adoption as reported by Chainalysis. The limited financial inclusion of these regions into the international banking system has paved the way for cryptocurrencies to serve as alternative means of payment both domestically and internationally.

The report also notes that users in regions like Pakistan and the Philippines are more likely to withdraw their airdrop tokens to fiat or use them for their needs, further emphasizing the role of airdrops in financial inclusion. The evolving nature of airdrops, from a mere marketing tactic to a tool for user engagement and financial inclusion, is a testament to their growing importance in the crypto industry. The ability to attract a significant portion of new users through airdrops, particularly in regions with high crypto adoption rates, positions airdrops as a powerful instrument for expanding the crypto industry and advancing its maturity.