Crypto exchange Bitfinex on Thursday launched an affiliate program for the traders on the exchange.
Similar to any other affiliate program, it will have a tiered commission structure, allowing the affiliates to earn a percentage of the trading fees for up to three levels of referrals within their network.
The Bitfinex Affiliate Program is here!
— Bitfinex (@bitfinex) October 17, 2019
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The exchange believes that this will increase community engagement among the traders.
“We strive to provide our clients with the most engaging and social trading experience,” Paolo Ardoino, chief technology officer at Bitfinex, said. “We’re proud to launch the Bitfinex Affiliate Program and we believe that this program will help grow our crypto community even further.”
Lucrative incentives to the affiliates
The exchange detailed that the clients signing up for the program can earn fees of more than 38 percent in commission from three levels of affiliate’s referral network. In addition, the exchange will also offer a rebate of six percent to those signing up with an affiliate link.
“The Bitfinex Affiliate Program’s tiered commission structure enables affiliates to earn a percentage of the trading fees for up to three levels of referrals within their network,” the exchange noted. “When affiliates and their referrals meet certain requirements, such as verifying an account and/or accumulating holdings of at least 500 Tethers (USDt) worth of UNUS SED LEO tokens, affiliates will also be entitled to multipliers of up to 2.16x on their commission.”
Though Bitfinex has just introduced its affiliate program, most of its rivals have been using the strategy for a while to incentivize use of their respective platform.
“Everyone can be an ambassador for crypto. You don’t need to be an experienced crypto trader or a technologically savvy person who understands cryptographic calculations to promote the ecosystem. You only need to believe in crypto,” Bitfinex noted.