PrimeXBT, an award-winning multi asset margin trading platform best known for its massive variety of CFDs, long and short positions, and Covesting copy trading module, has grown considerably for a number of key reasons.
The recognition from industry awards, network effect from the peer-to-peer copy trading community, and much more. However, there may be no more clear reason for such reach than the company’s four-level referral program.
It is a self-driving program because it encourages users to share referral codes actively and offers plenty of incentive to do so, while also offering enough value as a platform that users are more apt to sign up and fund an account to generate referrals.
Here is a guide on how to get the most out of one of the most lucrative referral programs in the financial space today.
What Does The Four Level Referral Program Have To Offer?
To start, let us review what the current offering is at PrimeXBT related to the four level referral program. At any instant market conditions could change which could encourage the platform to tighten or loosen commissions based on demand so be sure to check back regularly for the latest offer. The current offer starts with a 20% commission paid out on any and all eligible trading fees.
Any directly referred users will generate this 20% trading fee commission each time they trade for the life of the account, once the account has been funded for the first time.
If that directly referred user then goes and enlists another referred user to the platform, then anyone they bring in will also generate an additional 15% for the first person to refer anyone to PrimeXBT.
If the second-level referral brings someone in, they generate 10% and finally that level three referral can bring in the fourth and final level of referrals which generate 5% in commissions. A 5% commission might seem small, but considering a user might have done none of the footwork and still gets a cut is just one of the many ways PrimeXBT puts clients and growth first. It also allows for a network to grow virally.
All About PrimeXBT And The Value Proposition It Provides
As a crypto-products trading platform, referrals are paid out in whichever base margin cryptocurrency the referred user trades with. This can allow anyone to grow their capital and crypto holdings without ever buying cryptocurrency or trading on their own. Users can also sit back, rake in referral revenue, and then use that to trade with what is essentially risk-free capital.
Base margin currencies started with only BTC, but a recent PrimeXBT V2.0 upgrade added support for ETH, and ERC-20 stablecoins USDT and USDC. If a user has a preference over one base account currency than the other, PrimeXBT also recently introduced a currency exchanger service where one type of coin can be instantly swapped for another.
In such situations, an account holder might earn BTC or ETH in referrals, but prefer to trade with a stable base margin account currency like Tether or USD Coin. By exchanging one’s holdings, the type of base margin currency can be altered on the fly.
Base Account Currencies Give Referrals Options To Choose From
With these types of currencies in mind, it is time to develop a marketing plan to grow your referral network and attempt to make it go viral. It all starts with a referral link located within the PrimeXBT account dashboard in the referral section. Once you have arrived, there is a deeper explanation of the program and how the four levels work.
There is also information on how much crypto has been earned and how many accounts have been referred or funded.
Users can copy and paste their unique referral link and then share it with others who can use it to sign up. If they do sign up, a referral will be tracked and once the account is funded, will begin generating revenue with each trade the user makes.
Top earning partners have made over $2 million individually, with more than $5 million in the top three earners alone. Payouts are made each day directly to a secure PrimeXBT cryptocurrency wallet. All PrimeXBT wallets are protected by two-factor authentication and compulsory address whitelisting.
Selling Points To Help Promote The Referral Code
Bank grade security and the fact there has never once been a hack are among the top selling points users can point out as to why others should join the platform and try it for themselves. Other important features to note when discussing the value the trading platform offers, are the wide list of CFDs ranging from crypto to forex, stock indices to commodities, and everything else in between. There are also long and short positions, built-in technical analysis software, and much more.
Beyond the advanced trading tools there is also a peer-to-peer copy trading community called Covesting that is an opportunity to profit further off the referral program. Not only can you earn revenue from any referrals brought in, but becoming a strategy manager and encouraging your followers to also join Covesting and copy your trades is another way to bolster the success of the referral program.
The one-two punch combines the impact of the referral program itself with all that Covesting has to offer the trading community. The Covesting copy trading module connects followers with strategy managers who regularly show success through their rankings within a global leaderboard system.
Total profits, risk, and other important metrics are offered up for all followers to see, so they can choose which strategy manager best suits their needs. Transparency keeps these strategy managers honest, and the fact that they make money when their followers do keeps them engaged and active.
Covesting strategy managers add promoting the PrimeXBT referral program to their strategy each time they share their PnL screenshots online. And any potential followers these screenshots attract can rest assured that whatever the Covesting module says the strategy manager has for a win to loss ratio, ROI, or other metrics, that it is accurate and up to date.
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