What is an Affiliate Program?
As a trader with a following, an affiliate program is the most common way to increase revenue growth. As an affiliate, your role in the ecosystem is simple – to bring in users. You do not have to worry about your product, development , security or customer service. Simply focus on understanding a product and funneling interested users onto the platform to reap the benefits.
The first recorded online affiliate marketing strategy was used by marketing genius, Jay Brahan. Even during early adoption of the internet, affiliate marketing was able to help businesses and affiliates earn simply through promoting. This results in many users online relying on such rebates and affiliate programs to achieve high reoccuring passive income.
Why do Affiliate programs provide passive income?
Unlike influencer marketing you see on Instagram or Twitter, affiliate marketing heavily relies on the tech behind it. In each link that directs your users to the product page, it is tagged and tracked. This allows the business to know which affiliate is bringing in users, and as users deposit/trade in the platform, you gain a referral fee. Depending on the referral program structure, some platforms even reward you each time the trader makes a trade. This allows your passive income to scale.
How To Earn Passive Income with Crypto
Currently, there are only five schemes for earning a passive income with Crypto on the market: Affiliates fee, trading, play & earn, mining, and liquidity mining.
Trading crypto through an exchange. A typical beginner trader, you may find difficulty in trading due to its long learning curve. Some key challenges is the volatility of the crypto market and that it never sleeps. It becomes extremely tough for normal working users to trade whilst doing your day job.
Play and Earn is a concept used for blockchain games. Passive income is earned only whilst playing. Games will usually also need you to create a on chain wallet to collect coins from their blockchain. Rewards are also usually given out when you refer new players into the ecosystem.
Mining has become less popular for retail investors as the returns are diminishing compared to a decade ago. Because of halving, the ratio of computing power to returns is significantly less efficient. The rising cost of electricity is also another factor as your mining rig will require to be powered and cooled 24/7 for it to mine effectively. In most developed countries, it is almost certain that mining will not make you money in the long run.
Liquidity mining and staking are newer ways to earn passive income in Crypto. It is favorable as the lock up period allows us carry on with life whilst it generates a small amount of profit. Staking stablecoins is a way to generate a passive income with minimum risk. However, with the collapse of Luna, the market is once again suspicious of stablecoins projects. Despite its relatively safe methods, staking and liquid mining are both short-term strategies.
BingX Rebate Program VS Binance VS Coinbase VS Bybit
Coinbase Affiliate Program
Coinbase is the largest Crypto spot trading platform in the United States. Coinbase rebate program has a 50% transaction fee as commission to the affiliate partner. However, it is only for 3 months. This means that, when users trade after the 3 months mark, affiliate partners do not get the commission anymore.
Binance Affiliate Program
In addition to the continuous rebate that is only given for three months, unlike Coinbase, contract transactions have a maximum of 40%. It is the lowest commission rebate for all contract transactions on the market. Although the spot gives a high commission of 50%, users who buy the spot do not trade frequently and do not use leverage, so the money that this plan can earn is very small.
Bybit Affiliate Program
Bybit originally offered a commission of up to 60%, but as Bybit’s product line increased, Bybit’s commission is only 30%.
BingX Affiliate Program
The BingX agent rebate program is currently the most mature and the highest payout rebate program in the market. The payment can be up to 60%, depending on the role of the participant. If the participant has a basic salary, the commission is lesser, and if there is no basic salary, the commission is higher. In addition, new users and old users who complete certain tasks have different rebates.
The biggest difference is BingX’s agent rebate program. If selected as an ambassador, in addition to a basic salary, users will receive a series of support and training. Even a wider range of cooperation, to ensure that ambassadors can earn satisfactory income.
It has also become a passive income for the Web 3 centralized community among its peers.
What company is BingX?
BingX is the world’s top 5 Crypto derivatives exchange, and the best exchange in the world in 2022 by TradingView.
