Last updated on April 3rd, 2023 at 06:59 pm
Affiliate marketing has always been a very good way to earn passive income. It has made its way into the crypto space and lots of exchanges these days offer affiliate programs to earn good money.
With the crypto environment experiencing downtrends for some time, it might be difficult to continue earning passive income on your cryptocurrency. We know that the bear market is practically a good time to buy crypto, it also is a good time to get your friends, associates, audience or even your customers to be involved in the crypto space.
If you have a good audience, it might be advisable to introduce them to cryptocurrency and further earn percentages on their sign-ups. In this post, we will look at the affiliate and referral processes on different exchange platforms and see which one is best for you.
Just in case you are not very familiar with what an affiliate and referral program is, I will give a brief description below.
What is Affiliate Marketing?
Affiliate marketing is an arrangement where an online retailer pays commissions to other websites in exchange for traffic or generating sales through referrals for a particular product.
Affiliates earn as much as 30% to 50% promoting a particular product. In affiliate marketing, the more traffic you get to a product, the more likely you generate sales on the product and earn good money from it.
Some common ways to promote and get traffic to a product in affiliate marketing include display ads (such as banners), links, and content.
What is Referral Marketing?
Contrary to Affiliate marketing where you promote products by sending traffic through ads, links, and content, referral marketing simply gives incentives to existing customers for inviting their family, friends, and even co-workers to purchase a particular brand’s product or service.
Referrals are done through a referral code or link which is created and tied to the account of the referrer on a particular platform. This code will be shared with people you are looking to get to try the product, and then you get commissions when they sign up with your link and also do purchases.
Different platforms offer various types and amounts of commission. In most cases, you earn money from purchases or trades made by your referrals. Not all referral reward is the same, so before you put in your effort to promote products, you should be aware of which platform offers the best incentive for a referral.
Affiliate and Referral in Crypto
With the information stated above, you should already have a clear idea of what referral and affiliate program is in crypto. In this case, the product you are selling or referring people to are crypto exchanges.
Crypto exchanges offer incentives and commissions for affiliates and referrals. You will have to sign up on the platform, get your referral code, and then proceed to share with friends or any other way you wish to drive traffic for people to sign up through your link.
Commissions differ on different platforms so it is good to do proper research before deciding on which one to sign up with. Below are our top 5 crypto exchanges to earn affiliate and referral Income.
Binance is one of the most popular crypto exchanges available today. It is a largely popular cryptocurrency exchange among traders and crypto experts. The platform was founded in July 2017 by Changpeng Zhao.
You can buy Bitcoin on Binance along with more than 600 other altcoins. The exchange has its native token Binance Coin (BNB) which has since surpassed just being a utility token and has gained popularity in the crypto market.
Binance referral program works like this – after you create your referral link, you give it to a new user and then they create, verify their account and deposit more than $50 into the account within the space of 14 days.
Once they do this, both you and the referee (the person who you referred) earn $100 USDT. Binance pays your referral commission with Tether (USDT). The more people you refer to on Binance, the more money you earn.
There are different levels of referral rewards. These different level rewards take place in your 3rd, 5th, 8th, 12th, 17th, and 20th referrals. You can get a gift card worth 200 BUSD in these different levels once your referrals have signed up and deposited more than $50 within 14 days.
Finally, there is also referral commissions on Binance spot trading and futures. You receive a commission on futures and spot trading done by your referee when they sign up with your link. Learn more in our Binance review.
Shakepay is a platform that makes it easy for Canadians to buy/sell Bitcoin and Ethereum and also pay their friends. It is a CashApp alternative in Canada. The referral program with Shakepay is pretty moderate.
Just like other platforms, the referee will have to sign up and create an account through your referrer code. After the signup process, they will have to spend at least $100 on digital assets before you as the referrer can earn the $30 referral award.
Furthermore, Shakepay also offers merchandise rewards known as “Shakepay Swag”, where they give out stickers and other merch for future referrals.
CashApp was first created in 2009 and was later launched by Block, Inc. on October 15, 2013. It is a money transfer app that quickly gained popularity in recent years as a quick and easy way to send money to friends and families through a mobile app.
In the referral part, you earn a commission when your invitee signs up and sends $5 or more within 14 days. You and your invitee earn up to $30 in referral income. Looking at these amounts, it is not a huge sum but the more invitees you have, the more money you make.
There is no limit to the number of referrals you can bring, so as long as people keep using your referral code, you keep earning and it can pass to be a continuous stream of income. You should note though that for Americans, CashApp only supports Bitcoin and stock trading.
eToro is one of the popular cryptocurrency exchanges available in the US and most of the world. The referrer earning is quite simple with eToro.
When you refer a user and they sign up with your link, they are expected to verify their account with their personal information and then spend $100 or more on the eToro platform within 30 days of using your link. Once they do this, you and your invitee can earn up to $30 in commission.
This is also another popular crypto exchange platform available in 90 other countries including the United States. They offer referrer commissions just like the other platforms listed above.
They require the invitee to register and stake some amount of money on the platform. Once the invitee completes the registration process, they will have to stake a minimum of 1000 CRO (the native cryptocurrency used in its blockchain) on the platform.
You receive $10 in a referral payment once the invitee completes these steps. You can earn commissions for up to 12 months on your referee activities.
Disclaimer: The views expressed in this article are solely of the author who wrote this post and is in no way a recommendation from 36crypto. You are always advised to do extensive research before participating in anything regarding cryptocurrency.