Cryptocurrency and blockchain technology can be easily considered one of the most prominent innovations of the 21st century. In this day and age, more and more people are becoming aware of the digital coins, and concepts such as initial coin offering, cryptocurrency exchange, and open ledger are increasingly becoming part of the common vocabulary. The digital coins ecosystem has also given prominence to the crypto affiliate marketing, a concept based on the broader aspect of affiliate marketing. Sample the huge popularity of Gladio.com, and you will want to know what this crypto affiliate revolution is all about.
Cryptocurrency Affiliate Marketing
Although the underlying mechanism in crypto affiliate marketing is quite similar to processes used in affiliate marketing, the former is more complex and intricate than the latter. It is quite on expected lines given that the cryptocurrency field is still in its evolutionary phase, and changes are happening every other day. In this article, we will explain the complete process of crypto affiliate marketing, its operating principle, and how the program can prove beneficial for you in terms of having a steady stream of secondary income.
Types of Crypto Affiliate Program
Depending upon the payment approach adopted by the crypto affiliate program, the crypto affiliate marketing program can be of two types. Some schemes will pay their affiliate marketer in cryptocurrencies, while others will be crediting the account of their affiliates with standard currency.
To join a cryptocurrency affiliate program, you need to sign up with the network and then access the referral links that you need to promote among the target audience. Once the prospective customer takes the desired action (in terms of purchasing the cryptocurrency or patronizing the exchange), you will get the agreed commission.
Transactional Mechanism
It is important to identify the main stakeholders involved in the process to understand the transactions in the cryptocurrency affiliate marketing program. The affiliate network is primarily represented by the company that wants its product to be promoted among prospective customers. The second important part of the ecosystem is the affiliate marketer, who is tasked with promoting the company’s product among the target audience. The third important stakeholder is the prospective customer, who is at the center of the attention of both the affiliate network and the affiliate marketer.
Under the cryptocurrency affiliate marketing program, the particular network will give the affiliate marketer responsibility to promote its products/services among the target customers. For accomplishing this task, the network will provide some referral links to the affiliate marketers who, in turn, will promote these links among the target audience.