When we talk about affiliate programs, we are essentially talking about schemes that allow you to market products and services, and you’ll get paid a percentage of profits earned from your referrals. If you are here right now, chances are that you already know about the standard or typical affiliate marketing programs. You know how to get your referral link and share or market them to your audience. What you don’t know is how to get into the cryptocurrency affiliate niche. Why? Because you don’t know enough about the industry, processes, and risks — or what programs are legit. These are all issues you’ll get to learn before the end of this article. Cryptocurrency affiliate marketing is quite different from regular affiliate marketing programs. How? Keep reading to explore!
All You Need to Know About Cryptocurrency Affiliate Programs
When delving into cryptocurrency affiliate marketing programs and forums, you have to be mighty careful of the programs you join and the terms you agree to. You must understand that the cryptocurrency affiliate marketing vertical is a relatively new one. There are specific attributes of cryptocurrencies like Bitcoin that have made this new affiliate marketing program very attractive to affiliates. Things such as decentralized financing, flexibility, the absence of regulation, and the recent upsurge in these virtual coins’ value. However, you should be conscious of other less advertised attributes; for example, consider the unpredictability and fluctuating value of cryptocurrencies.
Generally, there are two major types of cryptocurrency affiliate marketing programs. These two branches set the tone for the operating policy and payment conditions of affiliate marketing programs. The first branch involves those programs or businesses that handle payments in cryptocurrencies but pays out affiliate marketer’s commissions in fiat currency. The second one involves companies or services that accept or process cryptocurrency transactions, trades, conversions, and so on and pays out affiliate commissions in crypto assets.
You should assess and investigate these two branches or types of programs. That is especially true before joining any cryptocurrency affiliate marketing program. You need to consider currency valuations and value; if you’re taking your payment in crypto assets, you should consider the fluctuating nature of crypto assets. It will better serve you to sign up for a program that provides you with a fixed conversion rate for your cryptocurrency assets.
How to Earn Cash with Cryptocurrency Affiliate Programs
Most affiliate programs you’ll find in the crypto affiliate niche are probably already made programs. They could be looking to branch out into this new and exciting affiliate marketing niche and target new customers. While the other type of people you’ll meet are newbies, affiliates with no experience in how affiliate marketing programs work. It doesn’t matter which category you fit in for this; you must use the same rigorous standards you use in analyzing normal affiliate programs to evaluate cryptocurrency affiliate marketing programs.
Generally, the process of following a cryptocurrency affiliate marketing program is the same as what you do when you join a standard affiliate marketing program. The process involves registering for the program, getting your personalized URL referral link, and sharing the link by posting it on your blog, website, social media accounts or running it as ads. You’ll start earning commissions when people click on your link to register and process a transaction on the merchant platform. Your commission will be remitted either in cryptocurrency or regular currency. The payment may also be remitted immediately or after some months.
Potential Risks and Issues
The cryptocurrency affiliate marketing industry is a relatively new niche. However, it holds so much potential in terms of income and wealth generation. Thus, many affiliates and affiliate networks are currently branching into the industry. Some affiliate networks are also branching into this new program to expand their scope of influence. However, the potential and attractiveness of the cryptocurrency affiliate marketing programs attract a particular crowd, too. Some of the people getting into them do so simply as a means of making fast money. To do this, they cook up schemes to cheat unsuspecting affiliates of their hard-earned money.
For this reason, you must complete proper research before joining an affiliate program. Instead of signing up for new or unknown affiliate programs, you should go for established and reputable ones. The following are the common risks or scams that are peculiar to the cryptocurrency affiliate marketing programs:
This practice is a fairly common scam in crypto affiliate marketing programs. What happens here is that after working your ass off to earn top dollars for yourself, by the time you want to withdraw your funds, the affiliate network or program might, under the guise of a shady or ambiguous policy, withhold part or all of your money. The usual excuses given here are that you referred a customer from a blacklisted region or something else.
Conversion Rate Manipulation
Another scam technique regularly used by disreputable affiliate marketing networks is conversion rate manipulation. What happens here is that affiliate networks take advantage of the volatility of cryptocurrencies and try to convert your crypto assets into regular currency with a wrong conversion rate. Doing this will reduce the total amount of funds that will be remitted into your account. That is why experienced affiliates will advise that you only choose cryptocurrency affiliate programs that promise you a fixed conversion rate.
These people are downright frauds that have broken into the marketing affiliate niche. Every sector has scam artists, including crypto. They are in the business only to cheat affiliates out of their commissions. These types of affiliate marketing networks are easy to spot. You only need to read the fine print in the affiliate’s terms and conditions. This action may take extra time, but it is essential to avoid scams. In fact, you should always read the fine print when doing business with anyone.