Crypto Affiliate Marketing: The Key to Earning Crypto Passively
Cryptocurrency is one of those things that everybody keeps tabs on speculating whether it will be the next big thing or will it become obsolete with time, just like movie rental stores and phone books.
We are only beginning to understand the possible aftermath of digital coins and the technology behind them. Although we are aware of the potential of blockchain technology, we don’t exactly know how it will unfold.
Having said that, cryptocurrencies have not only disrupted the fintech space but have also enabled hodlers to earn passively with it. One such way of earning passively with crypto is through crypto affiliate marketing! In this article, we explore what is crypto affiliate marketing and learn how one can become a crypto affiliate marketer.
What are the Different Types of Cryptocurrencies?
Bitcoin is known to be the oldest and most sought-after cryptocurrency in the market to date! However, there are various other cryptocurrencies that have a different purpose behind them. In essence, we can divide crypto into three categories:
- Tokens: Cryptocurrencies under this category usually represent various valued elements; they could be anything from real estate to money. For instance, DAI and LINK.
- Apps: This type of cryptocurrency allows you to build decentralized apps, otherwise known as dApps. These applications may serve purposes like real-world trading commodities. Since you cannot transfer a physical object via the internet, these objects are represented by tokens. One such famous dApp is Ethereum.
- Value: This type of crypto is used to store and pass the value. For instance, Bitcoin. The market sets the price for it, and people trade or pay with it too.
The fun thing about cryptocurrencies is that they can be used creatively in various ways. Nevertheless, you can always create a new currency that fits the specific purpose you have.
But what if we told you about a risk-free route of making the cryptocurrency (that you already hold) work for you? This is where crypto affiliate marketing shines!
What is Crypto Affiliate Marketing?
To understand crypto affiliate marketing, you first need to know what affiliate marketing is. Simply put, affiliate marketing is a way of generating passive income by promoting other people’s services or products. Every time someone buys these products/services through you, you earn a commission!
There are several affiliate marketing programs that businesses use to reward the customers who bring in new customers. It is a way of marketing where customers get an incentive every time they bring a new customer.
Likewise, various crypto exchanges and crypto lending platforms offer crypto affiliate marketing that allows users to earn a commission with each referral.
How Does an Affiliate Program Work?
The main difference between a regular affiliate marketing program and a crypto marketing program is the mode of payment. A crypto affiliate program will pay in cryptocurrencies. Various platforms such as Binance, Coinbase, Hodlnaut, Kraken, and the like offer crypto affiliate programs.
The amount and form of payment for an affiliate program depend entirely on the platform. For instance, Hodlnaut offers a 10% commission from your referred friend’s interest, and on top of it, your referred friend gets a sign-up bonus of $20 if they deposit US$1000 in a single transaction 1 week from the first deposit. Do note that the 10% commission is NOT taken out of your referees' interest.
What Type of Traffic is Good for Crypto Affiliate Marketing?
Truth be told, if you are a good advertiser, you will make crypto affiliate marketing work on any type of traffic. However, to make it easy for you, we have listed down the top traffic types that will help you earn passively by being a crypto affiliate marketer.
- Native ads: Native ads can blend effortlessly with the context of a web page and look like an informative piece of content. It matches the platform’s format on which it appears, so it can be an editorial article, a video, or an advertorial. Thus, if you have a website that offers content, you can include your referral link in the posts and start earning passively in an instant!
- Push ads: These ads make users take immediate action, and you can prompt users to use your affiliate link/code to earn rewards.
- Email: If you have a decent email database, emails can be an effective way to provide credible content and share your affiliate link while you are at it. Add your referral link in the newsletter to target the group of people who will be interested in cryptocurrencies.
- Video: If you own a Youtube channel with a targeted audience, you can also share your affiliate link to start earning passively. Introduce the affiliate program in your video and add your unique link in the description too.
Steps for Becoming a Cryptocurrency Affiliate Marketer
As mentioned above, most cryptocurrency exchange platforms offer affiliate marketing programs to reel in new customers. So as to become a crypto affiliate marketer, you can follow these simple steps:
- Sign up for the crypto exchange or lending platform.
- Confirm your identity. This step usually involves a KYC procedure whereby you need to verify your identity.
- Get your referral link. The platform will give you a unique referral link.
- Share your unique link with your audience, followers, friends, and family.
- When someone clicks on your link, the person will be taken to the exchange or lending platform. After he/she signs up and starts trading, you will get your reward.
And it is that simple to start earning passively while being a crypto affiliate marketer. If you do not have a lot of followers on social media or own a YouTube channel, you can still earn passively by sharing your referral link in your network. Simply leverage your own social media and share the link with your friends and family.
Steering Clear of Crypto Affiliate Marketing Scams
Choosing the right crypto affiliate marketing program is very important to set up a passive income stream. This also means that you need to stay away from scams and fake offers. Here are the three tell-tale signs of a scam to watch out for.
This is one of the most common types of affiliate scams wherein a crypto affiliate scheme fails to credit all your earned commissions. When enquired, the platform might state that your commission has been reduced for unforeseen reasons.
Manipulation of referral bonus
Cryptocurrencies are known for their volatile nature. However, some fake crypto affiliate programs can manipulate the commission they disperse, stating the price fluctuations of crypto as a reason. Such schemes may take advantage of your lack of knowledge of the crypto market and dupe you under the excuse of market fluctuations.
Fly by night programs
With the rapidly growing crypto affiliate space, new schemes enter the market every day. Some of these scammy websites have no intention whatsoever to pay your commissions, while others might be so poorly managed that they go bankrupt. Programs set to scam will often set up a new business all over again just to catch unwary customers.
Take into consideration these potential scams while deciding on the best cryptocurrency affiliate marketing program for you to join. The best way to alleviate the risk of falling prey to such scams is to always vet the platform thoroughly. Check what others have to say about the platform on websites like Trustpilot and SourceForge, where customers share their genuine opinions and ratings of the platform.
Cryptocurrencies are soon gaining traction, and their increasing adoption is proof of their potential. If you would like to benefit from the growing popularity of crypto, then becoming a crypto affiliate marketer is a great option!
As an affiliate marketer, your job is to ease the fear of crypto holders and explain to them that crypto might soon integrate with our everyday lives. Regardless of the channel you use, you can deploy a professional ad tracker in your campaigns to measure the results.