A Quick Look At Referral Programs
How to choose the most suitable referral program for you
Referral programs usually offer a win-win-win situation for all parties involved. Both the referee and user being referred will earn either a commission or rebate. The company receives new users and a new source of revenue. Every party is happy.
With such strong benefits associated with hosting a referral program, almost every Cryptocurrency exchange and project has a referral program. ABCC Exchange is no exception. (You can sign up here)
However, not all referral programs are equal and most suitable for you based on your situation. The general factors users can look at for comparison are the following:
- Amount of commission earned
- Program flexibility
In this article, we explore and compare the different referral programs offered by exchanges for you to make a decision based on your preference. Read on to find out more!
Disclaimer: This post is not in any way an attack on the referral program of other exchanges. Different users have varying preferences and you should always do your own research to find the most suitable referral program for yourself.
Amount Of Commission Earned
ABCC Exchange
Under the ABCC referral program, you can earn up to 70% commission of the trading fees generated from your referred users. There are 4 different tiers in total, with the commission percentage for each tier shown below:
In addition to the commission earned, users that just joined are automatically placed in the Silver Tier for a 15-day window. Thereafter, placement in referral tiers will be dependent on the accumulated trading volume of referred users. i.e. For the first 15 days, you can earn commission without any prerequisites.
Binance
Based on this announcement from Binance, users earn 40% commission provided they hold at least 500 BNB tokens. For the rest of the users who do not meet this requirement, they will earn a 20% commission.
Huobi
For Huobi, the rewards of the referral program will be in the form of a rebate for trading fees, with the rebate rate set at 30%. In other words, the inviter will receive a rebate amount of 30% of the total trading fees of the invitee. You can find the details here.
While both Binance and Huobi do not have a minimum amount of trading volume as a prerequisite, ABCC rewards higher trading volume with a higher percentage of commission. In other words, if the users you referred have a high trading volume you stand to earn more commission from ABCC.
Program Flexibility
In any referral program, it is useful to have the flexibility to ensure most users are able to participate in the program and to maximize their returns. In this regard, many exchanges do not offer a lot of flexibility to their users and offer a fixed rate for commissions.
More often than not, users will earn a fixed percentage of commission that is dependent on the trading volume of the users they referred. However, this does not take into account the power of network effects whereby the user you referred may want to refer users with high trading volume herself.
With ABCC Exchange, you can achieve this flexibility by setting your own commission after discussion with your referred user.
For example, one of your referred user Bob cannot meet the basic tier requirement on his own, and he wants to earn a commission as well. He can use your referral code to refer his friend after entering into an agreement with you, and earn a portion of the commission. We explain this concept in more detail in this article.
In Summary
In terms of maximum possible commission earned and the flexibility of the referral campaign, ABCC Exchange offers one of the most rewards for users. If you are a user that knows of many traders that trade frequently, this referral program may be suitable for you.
In addition, the allocation of tiers is based on the cumulative trading volume of your referred users. This means that you do not need to refer users on a consistent basis and can carry out referrals on a flexible basis.
We are still recruiting ambassadors to our program. Click here to sign-up now!
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