- The exchange believes that it will increase community engagement among the traders.
- Users can earn a commission of more than 38% of the trading fees.
Bitfinex, one of the biggest crypto exchanges in the world, launched an affiliate program in the interest of traders on the exchange. The program will have a tiered commission structure. The program allows customers to earn a commission on referrals within their network. As per the exchange, this will increase community engagement among the traders.
Paolo Ardoino, chief technology officer at Bitfinex, said:
“We strive to provide our clients with the most engaging and social trading experience. We’re proud to launch the Bitfinex Affiliate Program and we believe that this program will help grow our crypto community even further.”
The exchange noted the clients signing up for the program can earn a commission of more than 38% of the trading fees from three levels of affiliate’s referral network. The exchange will also grant a rebate of 6 percent to those signing up with an affiliate link. Bitfinex said:
“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. 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.”
However, other crypto exchanges were already using this strategy to incentivize their clients before Bitfinex introduced the program. Bitfinex further added:
“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.”