How to Earn Money from Affiliate Programs

Everyone wants to earn a passive income. It’s easy money and let’s face it, who actually wants to work for their cash, right? Affiliate marketing is done by tons of different companies for one main reason: it works. Let’s use an example. Fortnite, the worldwide phenomenon, has taken over the kids, teens, and young adults. It’s free to play and some of the internet’s biggest streamers/content creators use it for content. Back when it wasn’t as popular as it is today, Epic Games, the developer of Fortnite, was making use of affiliate marketing by providing their most popular streamers affiliate links to help promote the game. With that affiliate link, fans of the streamers could sign up for free using the said link. The affiliates (or in this case, the streamers) would then get compensated for promoting the game.

It’s a pretty modern example, but let’s dive into the technical stuff.

What is affiliate marketing?

By definition, affiliate marketing is “a marketing arrangement by which an online retailer pays commission to an external website for traffic or sales generated from its referrals.” In layman’s terms, it’s a strategy where an individual partners with a business in order to make a commission by referring readers or visitors to a business’ particular product or service. It’s one of the most popular methods of earning money online and once it is established, it can serve as a great passive income. Although it seems simple enough, there’s a lot more to it.

Here’s another example, let’s say that you’re a blogger and you want to become an affiliate of a certain company. Your job would be to place a link, button, or banner within a blog post so that your readers will be led to the products or services of that company. With that being said, a good blogger and affiliate will utilize a number of different marketing channels to promote content.

Affiliate programs and cryptocurrency

Now that you more or less know what affiliate marketing is, how does it relate to cryptocurrency? Well, it’s pretty much the same thing. The biggest exchanges will offer their users a certain percentage of commission on all trades done by affiliates. The rates vary per exchange so obviously, some deals are better than others.

These affiliate programs are designed to draw more people to these exchanges thus helping them grow and expand their business. Here are some of the available affiliate or referral programs available:

Changelly – Affiliate program

Changelly is a cryptocurrency exchange where people can change their fiat into a wide range of cryptocurrency. It searches for the best exchange rate and then they buy it for you at that price. Their affiliate program offers its affiliates 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 the referred user. They usually allow payout the day after the transaction is made. Payouts are issued in bitcoin.

Coinbase – Referral program

Coinbase is one of the biggest bitcoin exchanges in the world so it’s no surprise that they have a referral program. Although Coinbase’s referral program is different from an affiliate program, it might be something you want to look into. Coinbase offers $10 for each person you refer that buys or sells at least $100 or more within 180 days of registration. Both you and your referral will receive $10 after the buy/sell. It’s not as profitable or practical as an affiliate program but it’s still a way you can earn a little extra money while using one of the biggest exchanges in the world.

Coinmama – Affiliate program

Coinmama is a bitcoin and Ethereum exchange. They offer a 15% commission for all your referrals that purchase from their platform using your personal referral link, including lifetime future purchases. They also offer banners that you can place on your website. The downside to their affiliate program is that their payout is monthly, toward the end of every month and you must have three successful orders made by at least three users to get a payout.

Paxful – Affiliate Program (BEST OPTION)

Paxful is one of the leading peer-to-peer bitcoin marketplace in the world. They offer hundreds of ways to buy and sell bitcoin with over 300 payment methods available. The Paxful affiliate program is by far one of the best programs out there as it comes in two tiers. Tier 1 affiliates are those that sign up on Paxful directly using your affiliate link. From trades done by these affiliates, you will get 50% of the escrow fee charged on Paxful. Tier 2 affiliates are those who sign up on Paxful using your Tier 1’s affiliate link. From trades done by these affiliates, you will get 10% of the escrow fee charged on Paxful.

Paxful working

As you can see, Paxful allows its users the biggest opportunity for the users to make passive income which makes it one of the best affiliate programs out there. Still have questions? Check out Paxful Affiliate Program instructional video to learn more.

Earn your passive income today!

There are a ton of ways to earn a passive income with cryptocurrency but affiliate programs are the best way to do so. Take a look at some of the examples given and explore each platform so you can find the best one for you. Once you do, you can be on your way to making money with an affiliate program!

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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