The largest crypto platform Binance offers a service similar to multi-level marketing programs,where the client attracts others to generate income, without the actual need to make transactions on the platform.
According to the creators of the platform, referralThe program will be beneficial for both parties. New users will be able to trade with lower commissions, and referrers will be able to earn "more than 1000 bitcoins." Referral bonuses will be credited instantly, without restrictions on the number of referrals and the amount of commission.
To become a member of the program, you must fill out an application and meet the requirements of Binance:
⁃ have 5,000 followers or subscribers on social networks such as YouTube, Twitter, etc.;
⁃ have a user base of at least 2000 people to organize a business;
⁃ be the leader of the crypto community with more than 500 members.
Such cryptoreferal programs are played by allmore important role in the cryptocurrency environment. Almost every crypto platform, including BitMex, Ethfinex and KuCoin, has a referral or affiliate program. Thus, exchanges are trying to attract more users and motivate trading behavior of existing ones.