Four ways affiliates can cash in on cryptocurrency
Bitcoin may have celebrated its 10th birthday last fall, but cryptocurrency is still very much in its infancy when it comes to mass adoption. Currently, only 1.5% of the world's population is actively using crypto on a day-to-day basis.
While others saw FUD (fear, uncertainty and doubt) surrounding bitcoin and cryptocurrency futures, I saw a massive window of opportunity to get in at the ground level and carve out a name for myself in this early affiliate space.
After 12 years in the iGaming affiliate space, I decided to sell my affiliate sites to raise capital to launch Cryptocomparer.com. As the owner and only shareholder in the company, it was a well-thought-out and calculated risk that I was willing to take with my own money.
When I speak to people about cryptocurrency and my passion for the technology and the future it holds, it can often come across to the uneducated as a sales pitch. Some other affiliates have even referred to me as trying to sell them unicorn tears or magic beans.
Is crypto for everybody? No. Do you have to learn about its fundamentals and what the various currencies do? Yes. There is a learning curve.
With an average 24-hour volume of $15 billion to $20 billion a day and big institutional and Wall Street money buying in to it, the crypto market isnít going anywhere. It is the future of money as we know it. There has never been a better time to get involved in crypto affiliate marketing.
Whether you create a site that covers a wide range of different areas or you focus on just gambling-related companies, there is an opportunity for you to make money.
The majority of you reading are gambling-related affiliates, who make your money from promoting casino, bingo, poker, sports betting and lottery, and getting paid via rev share, CPA or hybrid. Nine times out of 10 you will get paid within 30 days, and you have to rely on the stats in the backend being accurate, while hoping players are not detagged and operators aren't moving the goalposts halfway through a campaign. Thereís a lot of trust involved, and it can often feel very much one-sided.
What if I told you that you could promote a casino, sports betting site, app game, wallet or exchange and get paid straight away?
Yes, straight away! One time, two times, or even 50 times a day. No waiting 30 days for outstanding commission, no raising invoices to affiliate managers, no watching a whale win big at the end of the month and wipe out your commissions.
Sound too good to be true? Still thinking I am selling you magic beans?
Guess again. Here's a list of just some of the ways you can make daily passive income from cryptocurrencies.iGaming
Those of you with non-U.K. traffic can sign up to any of these sports betting or casino sites and submit basic Know Your Customer information. Most pay you into a player account, but you can also withdraw any time.Dapps
Dapps are a digital application on the blockchain. Most are built on the Ethereum blockchain, however, there are some on the EOS and Tron networks, with more being added everyday.Forex and crypto exchanges
You can earn lifetime revenue on a percentage of each transaction fee for every person you refer to an exchange. Now this might not sound like a lot, but you usually get anywhere from 10% to 35% of each transaction fee. Most exchanges handle hundreds, if not thousands, of transactions per second. Itís a volume game, but this is why it helps to get into the market early.ICOs (initial coin offerings)
While this can be the most rewarding, it is also the most risky. You can earn bonus tokens for referring people to these offerings. But the company needs to use the money raised to then build on their concept and bring a working model to the market before you can get your commission paid out.
There have been a lot of these sites that have taken millions from investors and they are one of the main reasons why the SEC committee was formed, but thatís a story for another article.
Becoming a bitcoin/cryptocurrency affiliate while this market is still in its infancy is a wise move. However, this is by no means financial advice, and before taking the plunge I strongly encourage you all to do your own homework and due diligence on all of the above.Andrew Edwards has over 12 years of experience in the iGaming industry and is the CEO/Founder of Cryptocomparer.com. He also managing director of parent company MadAbout Media, which offers all aspects of online marketing, website building and optimization, as well as SEO, link audits and competitor analysis.