Affiliate programs are the cornerstone of incentivizing the use of a company’s product. Almost every business has an affiliate program. Some video game companies make use of it to get people to play their games and even bigger companies like Adidas have similar affiliate programs.
You can define affiliate programs as an agreement between a retailer and a seller. This agreement will include how much a retailer will give (from each purchase) a seller for the facilitation of a sale of their products. It’s a method of marketing that has been around for ages. It targets multiple audiences including influencers, non-influencers, businesses, entrepreneurs, and consumers.
All of these people have the ability to use an affiliate program and all of them use it in different ways. For example, influencers can use affiliate programs as their main source of revenue (from commissions) as most brands and companies target this demographic when they create their affiliate program. On the other hand, customers can use affiliate programs to earn a little bit of money on the side or perks from the platform. They do this by simply purchasing from a brand. Some brands will even offer discounts for sharing specific links or codes with their friends.
Just like the familiar brands that administer, maintain, and operate these affiliate programs, bitcoin and other cryptocurrencies have their ways as well.
Bitcoin affiliate programs
In the case of bitcoin, it’s the bitcoin exchanges and marketplaces that dole out money for using their platform. Sometimes called referral programs, they aim to get more users to trade on their exchanges. Even if you aren’t an influencer, there are still ways to earn enough money via affiliate programs to make a solid passive income. Essentially, exchanges and platforms will give you commission for bringing your friends and family.
There are a ton of options when it comes to bitcoin affiliate programs. All the biggest exchanges and marketplaces offer their own version of an affiliate or referral program and some are definitely better than the others. Each of them has its own rate of commission as well as other benefits. Here are some of the best referral/affiliate programs out there:
Paxful (BEST OPTION)
Paxful, a leading peer-to-peer marketplace in the bitcoin industry, has the best affiliate program out there. It allows people to make money not only from their direct affiliates but also their affiliates’ affiliates. The Paxful affiliate program comes in two tiers:
- Tier 1 affiliates – These are your direct affiliates. They’re the users who signed up on Paxful using your direct link. From these affiliates, you’ll get 50% of the collected escrow fee per completed transaction.
- Tier 2 affiliates – If your tier 1 affiliates are those that signed up using your link, tier 2 affiliates are those that signed up using the link of your tier 1 affiliate. From these tier 2 affiliates, you’ll get 10% of the collected escrow fee per completed transaction.
If you gather enough affiliates using this program, then you’ll be able to make a solid passive income.
Coinmama is most known as a Bitcoin and Ethereum exchange. With their affiliate program, you’ll be able to receive a 15% commission for all the purchases made by your referral. This commission per purchase is lifetime and will literally last forever as long as your referral keeps making purchases.
The payout of their affiliate program is at the end of every month. You will also need to have three successful made transactions by at least three users to get a payout.
Changelly is not only a bitcoin exchange but it’s also an exchange that offers a wide range of different cryptocurrencies. It searches for the best exchange rate and then it buys it for you at that price. In terms of its affiliate program, it offers a 50% revenue share for the life of the customer you refer to them. This means that you get a 50% commission for the deals made by your referred user.
The payouts are issued in bitcoins and you can be paid out the day after the transaction has been made (at the earliest).
Weighing your options for a better passive income
Now that you’re familiar with at least some of the best affiliate programs out there, there’s no doubt that affiliate programs are some of the best ways to earn a passive income in the bitcoin industry. With the right amount of affiliates, you could actually earn a lot from these programs. Combined with a person who actually knows how to buy bitcoin and how to use it to his or her advantage, he/she could even make this a full-time job (assuming all the proper quantity and quality of research has been done). If you wish to make it your full-time job as well, it is recommended that you do a ton of research and learn everything you can so that you’ll be able to minimize all the risks.
This also applies with all the possible affiliate programs out there. I’ve rounded up some of the best for me, but what’s best for you? As said earlier, there are tons of affiliate programs out there so don’t be afraid to explore them.