Cryptocurrency is no longer just a buzzword, it has become a legitimate asset class with millions of people investing in it. And as the market grows, so do the opportunities to earn passive income from it. One such opportunity is through crypto affiliate programs. In this article, we will explain what crypto affiliate programs are, how they work, and how you can earn passive income through them.
What are Crypto Affiliate Programs?
Crypto affiliate programs are essentially referral programs that pay you a commission for referring new customers to a particular cryptocurrency exchange or platform. When someone signs up for the platform using your unique referral link or code, you earn a commission on their trades or other transactions.
These programs work similarly to other referral programs, such as those offered by credit card companies or e-commerce websites. However, in the case of crypto affiliate programs, the commissions are paid in cryptocurrency instead of cash.
How do Crypto Affiliate Programs Work?
To start earning through a crypto affiliate program, you will first need to sign up for it. Once you are approved, you will be given a unique referral link or code that you can share with your audience. You can promote the referral link or code through your website, social media, email newsletter, or any other channels you use to reach your audience.
When someone clicks on your referral link or uses your referral code to sign up for the platform, they become your referral. Any trades or transactions they make on the platform will earn you a commission. The commission percentage and structure vary from program to program, so it’s important to read the terms and conditions carefully before signing up.
Historical Alterations in Crypto Markets
Cryptocurrencies have been around for over a decade now and have gone through many ups and downs in their history. In 2017, the market saw an unprecedented boom, with Bitcoin reaching an all-time high of nearly $20,000. However, the market crashed in 2018, with Bitcoin losing more than 80% of its value.
Since then, the market has recovered and is now more stable than it was in the early days. In fact, the total market capitalisation of cryptocurrencies has reached over $2 trillion as of April 2023. This means that there is a lot of money to be made in the crypto market, and affiliate programs offer a great way to earn passive income from it.
Statistics on Crypto Affiliate Programs
According to a report by ShareASale, the affiliate marketing industry is expected to grow to $8.2 billion by 2022. While there is no specific data on crypto affiliate programs, it’s safe to say that they are a growing segment of the overall affiliate marketing industry.
One of the most popular crypto affiliate programs is the Binance Affiliate Program. According to the program’s website, affiliates can earn up to 50% commission on trading fees for their referrals. The program has paid out over $2 billion in commissions to affiliates since its inception.
Another popular program is the Coinbase Affiliate Program, which pays a flat commission of $10 in Bitcoin for each new user who signs up using your referral link and buys or sells at least $100 worth of cryptocurrency.
Tips for Earning Passive Income through Crypto Affiliate Programs
If you’re interested in earning passive income through crypto affiliate programs, here are a few tips to get you started:
- Choose a reputable platform: Before promoting any crypto platform, make sure it’s a reputable one with a track record of security and reliability. You don’t want to refer your audience to a platform that turns out to be a scam.
- Promote the platform to your target audience: To maximise your earnings, promote the platform to your target audience. For example, if your audience is interested in trading altcoins, promote a platform that specialises in altcoin trading.
- Use multiple channels: Don’t rely on just one channel to promote the platform. Use multiple channels, such as your website, social media, email newsletter, and even paid advertising if your budget allows. This will help you reach a wider audience and increase your chances of earning more commissions.
- Provide value to your audience: Don’t just promote the platform without providing any value to your audience. Write informative articles, create videos, or host webinars that teach your audience about cryptocurrencies and how to trade them. This will help build trust with your audience and increase the chances that they will use your referral link.
- Stay up to date with the market: Cryptocurrency is a fast-paced market, and it’s important to stay up to date with the latest trends and news. This will help you promote the platform more effectively and provide valuable insights to your audience.
Crypto affiliate programs offer a great way to earn passive income from the growing cryptocurrency market. By promoting reputable platforms to your target audience, you can earn commissions on their trades and transactions. Remember to choose a reputable platform, promote it to your target audience, and provide value to your audience through informative content. With these tips, you can start earning passive income through crypto affiliate programs today.