The competition amongst trading platforms has begun to reach a boiling point as they race to implement cutting-edge technologies to enhance user’s experience, and traders are increasingly looking towards generous and client-centric affiliate programs to bolster their profitability.
Last week, popular cryptocurrency exchange Bitfinex entered the affiliate game, unveiling a new referral program similar to the already popular 4 tier program offered by PrimeXBT – a popular margin trading platform. PrimeXBT also recently announced an unprecedented CPA program, which will open a new monetization channel for individuals and companies alike.
Bitfinex and PrimeXBT – two of the largest and most popular margin trading platforms for cryptocurrency traders – are currently locked in a fierce competition to attract more traders to their platforms; but which platform will prevail as the most popular option for prospective affiliates?
Bitfinex Versus PrimeXBT: The Basics
Bitfinex and PrimeXBT are both trading platforms that allow users to utilize leverage to trade cryptocurrencies, which enables users to expand the trading potential of their principle capital in order to maximize their profitability.
Unlike Bitfinex, which only offers its clients a maximum of 3.3x leverage, traders on PrimeXBT can tap into leverage as high as 1000x – depending on the asset that a user is looking to trade.
Additionally, while users on Bitfinex are limited to trading a select number of cryptocurrencies, PrimeXBT offers their clients access to multiple forex trading pairs, precious metals, and commodities, in addition to popular digital assets like Bitcoin.
The lack of assets beyond cryptocurrencies is certainly a disadvantage for Bitfinex, and the limited leverage it offers may hurt the bottom line of traders who are looking to capitalize on the volatility of the crypto markets.
On the flipside, Bitfinex is an older and more established platform than PrimeXBT – which is relatively new with an initial launch date in 2018. Some users may find solace in this fact and may also appreciate the spot trading capability that Bitfinex offers, while users on PrimeXBT do not currently have the option to trade without using leverage.
Which Platform Should Prospective Affiliate Members Use?
Both platforms have been upping the ante when it comes to their affiliate programs, but there are a couple of key differences that prospective participants should be aware of.
The first key difference is that Bitfinex limits affiliates to receiving referral bonuses from up to three degrees of connections, while PrimeXBT allows affiliates to receive commissions from four degrees of indirect referrals from the affiliates that are recruited beneath them.
When it comes to multi-tiered referral programs, having greater depth could entitle a participant to exponentially more income from their network, so PrimeXBT does have an edge over Bitfinex in this regard.
Another key difference that potential affiliates should bear in mind when deciding which platform to sign up with is that PrimeXBT offers higher commissions from the referrals’ trading fees, with affiliates receiving 20% of all commissions from level one referrals, 15% from level two referrals (those referred to the platform by the level one users), 10% from level three referrals, and 5% from level four referrals.
In comparison, Bitfinex offers affiliate partners 18% of their first degree referrals, 6% of their second-degree referrals, and a mere 2% of their third-degree referrals.
Once again, PrimeXBT is offering a more enticing offer to prospective affiliates, which may allure significantly more traders to utilize the platform in order to bolster their bottom-line revenue.
According to PrimeXBT’s affiliate leaderboard – which transparently displays the earnings of all the biggest partners utilizing the platform – the top three traders have just under $1 million in combined USD earnings.
This is evidence that referral programs are gaining major traction amongst traders and influencers alike.
PrimeXBT Opens New Monetization Channel for Influencers And Resource Owners With New CPA Program
In addition to offering users a greater share of their referral’s commissions and offering affiliates the ability to earn revenue from their fourth-tier referrals, PrimeXBT also recently introduced a new and unprecedented CPA program that allows users to directly monetize their network or other traffic channels.
Users who want to participate in this program can chose from three different options that allow them to directly receive a consistent income from each client they bring to the platform, which could be particularly useful for influencers, bloggers, and website owners who are looking for ways to monetize their traffic and network beyond just using ads and sponsorships.
CPA participants who successfully generate leads can receive payments through a variety of different forms, including via a bank transfer, Bitcoin, Skrill, Neteller, and more.
The platform notes on their website that CPA partners who generate qualifying leads can receive anywhere between $950 per month if 10 traders are brought to the platform, up to $38,000 per month if 400 traders are inducted.
It is important to note that PrimeXBT has implemented Affise software to give partners deep insight into all the statistics surrounding their commissions, payouts, and all the engagement activity with their unique partner link.
It does appear that the fierce competition between platforms like Bitfinex and PrimeXBT has led to the formation of incredibly generous conditions for potential affiliates, and it seems that for the time being the conditions surrounding PrimeXBT’s affiliate program are more enticing than those offered by Bitfinex.
As these programs continue to gain further traction, it is probable that the competition between the platforms will continue to heat up, which may lead to even more beneficial terms for prospective affiliates and partners.
Disclaimer: This a paid post, and should not be treated as news/advice.