Crypto affiliate marketing can be very rewarding and profitable. However, it does require research and hard work. That is true even if you’ve had a chance to work in the cash-based affiliate industry before. If you’re reading this article, the chances are that you are already familiar with affiliate marketing and how to make money from it. If you’re interested in affiliate marketing cryptocurrency, want to know how crypto affiliate marketing works and how to become a crypto affiliate yourself, you’ve come to the right place.
How Do Crypto Affiliate Programs Work?
There are two different types of cryptocurrency affiliate programs. First, there are affiliate programs that deal with cryptocurrencies but pay you in standard currencies. The other type offers products and services. They usually deal with cryptocurrencies, but not always. They will pay out your affiliate commissions in cryptocurrency.
The critical thing to keep in mind with this type of affiliate program is that your commission’s worth depends on market fluctuation. It could go anywhere between being a significant loss to a huge win. The cryptocurrency market is volatile, so there’s no right or wrong, as long as you understand the risk in choosing this method. These programs are similar to regular affiliate networks and referral programs that you might be used to. You find a site you want to work with, sign up and get your referral link. Then, advertise your link to your crowd, and once someone uses your connection (either to sign up or to carry out some action), you get a commission.
Choosing a Crypto Affiliate Network
Affiliate marketing programs are sites that act as the middleman between merchants and affiliates. Since it can be hard for merchants and affiliates to find each other, these sites act as a gateway for the relationship. The program you choose is the bridge that helps you find the right and most profitable partnerships, making you choose wisely! Keep in mind a few factors when choosing a crypto affiliate network. Important things include how much commission you will make, what types of merchants are using this affiliate program, and are there other affiliates using this program? Make sure to do your research and choose the best deal for you.
Our best tip is to use an existing affiliate program that also offers crypto options. That is the safest way to go! If you’ve worked with one before and were satisfied with it, that’s even better! You’ll know exactly what to expect.
Selecting a Niche
Picking a specific market is an integral part of becoming a crypto affiliate. Hypothetically, crypto networks can serve any niche, and the number of affiliate networks is constantly growing. Even though there are many, we’ll take a look at a few of the most popular ones.
Online storefronts that also accept crypto payments. They offer referral programs when you bring customers to them.
Casino and Online Gaming
Online casinos and gambling sites are always looking for innovative ways to make money. Allowing people to gamble with cryptocurrencies is a good way for them to deal with people anonymously. It is a profitable niche.
Adult Dating Services
Paying in cryptocurrencies allows an additional degree of anonymity for the buyer or user.
Cryptocurrency Exchange and Wallet Services
They trade in cryptocurrency or offer conversions for users. These services tend to have affiliate programs to get more people to adopt crypto and expressly to adopt it through them.
Picking the Right Cryptocurrency for your Affiliate Program
In general, crypto markets are highly volatile. Cryptocurrency affiliate marketing constantly changes, mainly because regulations for them are still not stable. That is something to take into consideration when you become a crypto affiliate. The risk is most likely worth it, though, because of the high value of your payouts. More than 6,700 different cryptocurrencies are traded publicly [according to CoinMarketCap.com], and that indeed is not the end of it.
Cryptocurrencies continue to multiply, raising money through initial coin offerings or ICOs. The total value of all cryptocurrencies on September 2, 2020, was more than $370 billion, according to CoinMarketCap, and the total value of all bitcoins, the most popular digital currency, was valued at approximately $210 billion. Bitcoin is the most common of all the cryptocurrency offerings, as well as generally the strongest and most stable. Thus, making it the safest choice at the moment. However, don’t forget that crypto markets can be highly unstable.