It’s 2021 and everyone wants to earn extra income effortlessly.
The cryptocurrency industry, which has been booming in the past few months, offers a great way to earn digital assets through affiliate programs.
It’s easy to get involved in cryptocurrency affiliate programs and you can earn great passive income simply by referring your friends to the right platform.
In this article, we will look at what affiliate programs exist in the cryptocurrency space, how they work, and also compare how much you can earn as a partner with three different digital asset exchange providers.
What are cryptocurrency affiliate programs and how do they work?
Affiliate marketing is one of the best channels for attracting new customers to your products and services.
This strategy has proven to be effective in the crypto space, and many projects are using this model to reward existing users for inviting new customers to their platforms.
Affiliate programs provide great benefits to both the cryptocurrency business and the users involved.
In a crypto affiliate program, users receive a unique link from a crypto project that they use to invite their friends (and their friends).
The partner helps both the cryptocurrency project and the participating users track how many new users they have attracted.
In the crypto industry, affiliate rewards can range from simple discounts (like trading commissions on exchanges) to high monthly earnings, giving users excellent passive income.
Since users do not need to invest money (but do need to invest time) in affiliate programs, this method carries very low risks and provides a fairly high potential return.
Plus, it’s very easy to work with affiliate programs where participating users can use a variety of methods – from simple messaging with friends to posting articles, blogs and videos with affiliate links – to attract new customers.
How does the Binance Affiliate Program work?
Binance cryptocurrency exchange is one of the most popular exchanges in the world; a status that she managed to achieve in just a few months after launch. Many experts believe that this success is achieved through the use of various affiliate and referral programs and by offering sufficient incentives for users to facilitate their transactions with lower fees.
It should be noted that Binance also offers users its own cryptocurrency that can be used to get up to 50% discount on exchange fees. While this discount is shared and everyone can get it, referral and affiliate programs are only available to customers who can be considered influencers with over 5K followers.
Terms of participation in the Binance Affiliate Program
Binance Cryptocurrency Affiliate Programs are available to both businesses and organizations and individuals. However, the qualification conditions in these cases are different. Companies wishing to participate in Binance affiliate programs must meet the following requirements:
- The presence of a user base of at least 2 thousand people
- Availability of a wallet
- Market analysis platform with at least 5,000 website visits per day.
- Industry media platform / website presence
- Availability of a cryptocurrency fund
- Availability of an aggregated trading platform
These requirements are required for businesses and organizations that wish to participate in Binance affiliate programs, while individuals must meet the following requirements:
- Be a social media influencer with at least 5,000 subscribers on one or more social platforms: YouTube, Twitter, Facebook, VKontakte, Instagram.
In addition to businesses and individuals, cryptocurrency communities can also use affiliate programs, subject to the following requirements:
- The presence of a community of at least 500 members
- Having a leader in the financial industry
- Having a leader in the blockchain industry
- Be a community or group on Telegram, WeChat, Facebook, QQ, VKontakte
As you can see, the prerequisites for participating in Binance cryptocurrency affiliate programs are not that simple. However, customers participating in these programs can earn up to 50% transaction fees for new users.
How does the OKEx affiliate program work?
Unlike Binance, which requires some pre-existing channels in order to qualify someone to participate in cryptocurrency affiliate programs, OKEx allows individuals and organizations without any large networks to join their affiliate program.
Users can join its affiliate program by referring 10 customers who make purchases over $ 100. However, OKEx also requires a network of resources from users who have participated in its affiliate program, but this is not as important as Binance. Another important feature of this program at OKEx is its period, which has been extended to 180 days. In other words, users who have joined OKEx affiliate programs can only profit from their activities after 6 months.
OKEx platform requirements include compliance with its risk management measures, which prohibit any kind of fraud or gambling with accounts. Members are also prohibited from using the brand name in false information to invite people to join OKEx. These are just a few of the requirements of this platform.
How much can you earn as a partner on various cryptocurrency exchanges (Binance, OKEx, Nominex)?
Now that you know the basics of affiliate programs, let’s see how much you can earn with them in the cryptocurrency industry.
To find out, we looked at the referral and affiliate programs of the crypto exchanges Binance, OKEx and Nominex. We used the data we found on the websites of each provider to calculate our potential affiliate revenue.
Interestingly, while Binance only rewards direct referrals, Nominex and OKEx affiliates can also receive bonuses from referrals and sub-affiliate activities.
On OKEx, there is only one tier for sub-affiliates, while Nominex uses an unlimited number of tiers, allowing users to receive rewards even from the activity of someone 1,000 levels below them (for example).
In addition, Nominex offers 7 types of affiliate bonuses such as:
- Bonuses from trading expenses of direct referrals: 20-40% of the expenses made by direct referrals on the exchange.
- Team farming bonus: 5-20% of the lowest total spending generated by all people in one of the teams.
- Direct referral staking bonus: 5-20% of the farmed with direct referrals
- Leadership Bonus: 10% ($ 2.5) of every team reward received by a direct referral
- Promotion Bonus: a one-time payment for the end of a certain number of command cycles
- Team Help Bonus: Get up to $ 25 depending on the activity of your direct referrals.
- Fast Start Bonus: $ 50 to the first completed command cycle, subject to reaching a certain rank. A team cycle occurs when both teams to the right and left of the partner spend $ 250-250 on trade commissions.
Binance users receive 20% of the trading commissions of their direct referrals, which can be increased up to 40% if they have at least 500 BNB. We will calculate the partner reward with an investment of $ 10,000, which equals 36 BNB. Since we don’t have 500 BNB in our accounts, we will only receive 20% commission on trades from our direct referrals to Binance.
OKEx affiliates earn 30% on direct referrals and an additional 10% on trading fees after users are invited by sub-affiliates. Trading commissions for marketers are 0.1% on Binance and Nominex and 0.15% on OKEx, which we will use to calculate affiliate rewards.
For the calculation, let’s assume that we managed to get 50 direct referrals on each exchange, while all our sub-partners invited 10 people each. Affiliates at the second level also refer 10 new users, each referring 10 customers.
As a result, you have 50 direct referrals on the first level, 500 users on the second, 5000 on the third and 50,000 on the fourth, that is 55,550 people below us.
Nominex referral program
In Nominex, users below us are divided into two teams of 27,775 people each (one direct referral has one team of 555 users each).
Let’s say all of your direct referrals and their affiliates are trading $ 500 worth of crypto every week on the exchange’s spot market.
Based on the data above, your Binance and OKEx affiliate income will look like this:
At the same time, Nominex offers the following partner rewards (we will use the maximum rate for both direct and team rewards, which is 40% and 20%):
Earn passive income as a cryptocurrency affiliate
Based on our tests, while OKEx users can earn almost 10 times more than Binance, Nominex offers much better rewards for hardworking partners, which are over 79 and 777 times higher than OKEx and Binance. respectively.
Nominex affiliates earn over $ 15K per month, which is considered a highly competitive salary even in the richest countries.
And since it’s passive income, you don’t need to make any effort at all to generate it once your teams are created.
Sounds great, doesn’t it?
Visit the Nominex referral program to become its partner!