Cost per Wallet Calculator (CAC)
Calculate what you're really paying to acquire a wallet — and whether that spend pays back.
Cost per Wallet Calculator (CAC)
Enter your acquisition spend and new wallets to instantly calculate cost per wallet and your LTV-to-CAC ratio.
What Is Cost per Acquisition?
Cost per acquisition (CAC) is how much it costs, on average, to acquire one paying customer or active user. It’s the spending side of the growth equation — the number you compare against lifetime value to know whether your acquisition strategy actually makes money.
Cost per wallet (CAC) = total acquisition spend ÷ new wallets acquired
In crypto, the “customer” is a wallet, and acquisition spend usually includes ads, KOL fees, quest incentives, and airdrops rather than a traditional sales or marketing budget line. Cost per wallet tells you what each new active wallet actually cost you to bring on — the number your wallet lifetime value needs to beat.
Cost per wallet vs. cost per click
Cost per click or cost per impression only measures traffic cost. Cost per wallet goes a step further and measures cost per genuinely acquired user — someone who connected a wallet and, ideally, transacted. It’s a much stronger signal of acquisition efficiency than upper-funnel cost metrics.
Reading your LTV-to-CAC ratio
Once you know cost per wallet, compare it to wallet lifetime value. An LTV-to-CAC ratio above 3x generally means acquisition is paying back comfortably; below 1x means you’re losing money on every wallet you bring on. Incentive-heavy channels like airdrops often have a low apparent CAC but a much lower LTV too, so always look at both sides together.
How to use it:
Enter your total acquisition spend — ads, incentives, quests, and rewards.
Enter how many new wallets that spend acquired.
Optionally add wallet LTV to see your LTV-to-CAC ratio.
Use Formo to track acquisition spend against wallet outcomes automatically, channel by channel.
Formo connects campaign spend to onchain outcomes automatically, so cost per wallet updates as you spend.
Your questions, answered
Find answers to frequently asked questions below.
What is a cost per wallet calculator?
How do you calculate cost per wallet (CAC)?
What's a good cost per wallet for a crypto app?
What's a good LTV-to-CAC ratio?
Why does cost per wallet vary so much by channel?
What is Formo?
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