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Trading is not the only way to make money on digital asset exchanges. Many marketplaces offer users an alternative source of income — joining affiliate programs. Unfortunately, not all suggestions are worth your attention. We are going to dwell on this topic in detail in this article. Let’s figure out how it all works and how you can make money on it.

What are affiliate programs?

Marketplaces need new customers and are willing to pay those who can help attract them. For this reason, exchanges create affiliate programs. Their members recommend the project on social networks or other platforms and receive a reward for each attracted user.

crypto piggy bank

illustration by Krestovskaya Anna

Another aspect that will help you understand what affiliate programs are is the process of earning money on them. Due to the differences in approach, each platform will have a different mechanism. Let's consider the most popular options.

Why will affiliate programs be always relevant?

Almost every cryptocurrency platform has affiliate programs. It is not difficult to become a member. You just need to attract new players to the site and receive bonuses, discounts, or digital coins in return.

A referral program is a certain type of cooperation in which a company pays its partner for bringing new clients (referrals) to the company. As a rule, both the one who’s bringing and the one who is brought receive bonuses. Each organization chooses the method and amount of remuneration independently. Referral and affiliate programs are popular in almost all areas, and the cryptocurrency industry is no exception.

Referral programs on crypto exchanges

Coinmarketcap.com lists 309 platforms that offer users to buy and sell digital coins. What’s important to note is that this list is constantly growing. The competition among crypto exchanges and currency exchangers is quite high. Therefore, the creators of such platforms are constantly coming up with new ways to attract users, motivating the already registered players to bring in new customers.

The Coinsbit crypto exchange recently announced the payment of up to $300 in CNB tokens to everyone who registers using the referral link. You can also receive bonuses of $175, $75, $50, and $25 in CBN tokens for the second, third, fourth, and fifth-level referrals.

In early March 2020, representatives of the bitcoin exchange Bittrex Global spoke about a major update on the mobile platform and the launch of a new referral program. The site began to support credit cards for buying digital assets and pending orders on mobile devices. The affiliate program allowed Bittrex Global clients to receive an additional fee percentage from the transactions of clients who came via the referral link.

On April 2, 2020, Hong Kong exchange ZBG launched a new referral program called "Super Commission". According to the terms, users will be able to receive up to 80% of the trading commission on the transactions of invited referrals. However, only owners of sites or video blogs with a large audience can become partners of the ZBG exchange.

Cryptocurrency affiliate programs on many platforms are often one-off affairs. They are valid only at the beginning of the launch of digital platforms, at the time of major updates, or as part of IEO. However, there are crypto exchanges with permanent affiliate programs. One of the most stable and profitable cryptocurrency affiliate programs in the market is offered at Godex. It is an anonymous, decentralized exchange with an easy withdrawal procedure and transparent user dashboard.

Benefits of crypto affiliate programs

  • The success of the cryptocurrency market. Three months ago, the rate of Bitcoin was about $18 thousand. At the time of this writing (March 2021), the price of one BTC exceeds $50 thousand.
  • During an uptrend, new participants enter the market en masse. They usually bring billions of dollars to the digital economy. So why not take this opportunity and get your slice of the pie?
  • There are not many webmasters in this field, especially when compared to merchandise affiliate programs.

Conclusion

Of course, each affiliate program has its own advantages and drawbacks. Exchanges have the right to set their own requirements for referrals and partners. Before choosing a program, you should carefully study its conditions and terms. You should also pay attention to the following nuances:

  • Not all exchanges allow you to receive income from a referral endlessly.
  • Even anonymous exchanges may require personal information for connecting an affiliate program.
  • Some marketplaces have high requirements for connecting to affiliate programs.

Also, don’t forget to make sure that the jurisdiction of the exchange extends to your country before choosing an affiliate program.

It is possible and necessary to make money on crypto affiliate programs as long as the niche has not exhausted itself. Nobody expects such an outcome in the near future though. On the contrary, experts predict a long-term bull market.

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