Binance.US starts affiliate marketing program to counter Coinbase who closed theirs.
- Binance.US opened an affiliate marketing program
- Coinbase is an American company that operates a cryptocurrency exchange platform. Instead, he closed his
- El programa busca incentivar a influencers a promover exchange
The market in generalized decline has the exchanges crazy: some continue to operate and expand despite the crisis; others, on the other hand, take measures such as staff layoffs to try to survive.
Ahora dos exchanges importantes de Estados Unidos anunciaron medidas distintas en relación a inversión en marketing.
Binance.US, the U.S. subsidiary of the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. of cryptocurrencies Binance, announces the launch of its affiliate marketing program. This comes just days after its rival Coinbase closed its affiliate program, citing bear someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.” market conditions.
The Binance.US affiliate program is a way to incentivize third-party influencers and entrepreneurs to promote the exchange through social media platforms and other means of advertising. “The program is an example of how much the company is leaning in as competitors and peers push back in today’s market an area or arena, online or offline, in which commercial dealings are conducted. environment.” according to a representative of Binance.US.
“In light of recent reports that Coinbase is shutting down its affiliate marketing program, Binance.US is launching its own affiliate program.” he told Coindesk a representative of Binance.US by email.
As Coindesk recalls, this isn’t the first time that Binance.US criticizes the reaction of Coinbase to this year’s cryptomarket slowdown. In June, the CEO of Binance.US Brian Shroder, said he would happily hire any applicant who was disappointed by having been fired from Coinbase.
Affiliates who join the affiliate program at Binance.US earn $10 for each referral who completes their first $100 in purchases and/or trades within 30 days of completing account an account is essentially a whose purpose is to track the financial activities of a specific asset/ verification, according to a blog post.
Coinbase close refers to the closing price; similar to the same term used in stock trading. program
For its part, the exchange Coinbase said it would close commissions through its affiliate program for at least the rest of the year.
As it continues to cut spending, Coinbase is “temporarily shutting down” its U.S. affiliate marketing program, according to report from Business Insider y Decrypt.
Influencers who were part of the program aimed at acquiring new users through social media were notified via email that their commissions would disappear as of tomorrow, according to emails reviewed by Business Insider.
“We regret to inform you that Coinbase will be temporarily closing its Affiliate Program in the United States as of Tuesday, July 19.” said the email sent to the influencers.
The company cited the crypto-winter as a major factor in putting its affiliate program on hold, as well as the deteriorating economic conditions that have emerged so far this year.
“This was not an easy decision, nor was it taken lightly, but, due to cryptomarket conditions and the outlook for the remainder of 2022, Coinbase cannot continue to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. incentivized traffic to its platform.” the email said.
According to reports, the exchange told influencers that it plans to relaunch the program sometime in 2023, but did not provide specifics on when. The email said: “We have established many valuable partnerships through our affiliate platform a place to buy, sell and store cryptocurrency that we look forward to renewing in the future.”
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