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Author : My Dirty Little Bitcoin Secrets PDF EBook by Ofir Beigel
Bitcoin mining affiliate programs. Cex.io. A company which trades in mining power. The mining power you purchase can be used on Ghash.io, the largest Bitcoin mining pool to date. If you refer users to Cex.io you get 3% of the mining power they purchased as commission. You can then use that mining power to mine on Ghash.io. Additional Bitcoin affiliate programs. Lynda. An online video training website. They have an introductory course about Bitcoin. Payment varies between $10 to $37.5 depending on what subscription the customer purchases. Udemy. Also an online video training website. They have several Bitcoin courses for sale in different price ranges. You earn 25% of each sale you make. The difference between Udemy and Lynda is that Lynda brings their own instructors and Udemy allows anyone to create a course. Amazon associates. Probably any physical Bitcoin item or book you can find online can also be sold on Amazon. Commissions vary from 4% to 8% depending on your sales volume. Later on in this chapter I’ll tell you about my unfortunate experience with Amazon Associates. I don’t recommend working with them (and later on you’ll see why) but it is an option to consider. Chapter 3.4: What to Check When Applying For an Affiliate Program. Before we conclude this chapter and the affiliate marketing section, I’d like to give you a little heads-up about what you need to look for when applying to an affiliate program. Even though the concept of affiliate marketing is the same on every different program, the terms may vary.
When you first sign up to an affiliate program, read the affiliate program terms carefully. I don’t just say that to get myself off the hook. Read it ALL and read it thoroughly, as you may be surprised at what you’ll find there. Here’s a breakdown by order of importance of what to check. Is the product any good? I hate promoting lousy products for two reasons. One, it undermines my credibility with my readers, and two, I don’t make enough revenue off them because there are many refunds. By the way, if I wasn’t clear about this before, when a user refunds a purchase, your affiliate commission is taken away as well. Before promoting a specific product I tend to either use it myself or read a bit of reviews about it online. I mainly look to see if it’s not actually a scam since so many Bitcoin scams are out there. In fact I’ve been burnt by this in the past. I started promoting an “investment program” called Bitcoin Trader which later on ran off with the investors’ money (including my own). Imagine how I felt when angry emails came my way from people who deposited money in that program due to my recommendation. Sometimes you can even ask for a free trial or a sample to test out the product from the merchant. Just tell them that you want to promote them as an affiliate and you need to get first-hand experience of the product. If you don’t manage to get your hands on the product you’re promoting, I highly advise to state that when you promote it.
Transparency and credibility are key when trying to build a loyal audience which will follow your recommendations. What are the payment terms of this specific program? Here are some questions to ask yourself when inspecting the payment terms. How much is the payout? Is it a CPA model, rev share model or hybrid? Is this a recurring payment? Am I getting paid in dollars or Bitcoins? When will I get paid? Some companies pay you immediately and some can hold your funds up to 90 days from the date the deal was made (e.g. Amazon). Is there any threshold to my payment? (Do I need to surpass a minimal amount of sales before I can get paid?). Some of these questions may not seem critical now, but if you want to build a sustainable Bitcoin business, you’ll have to know the answers for these questions. For example, if you’re going to get paid only 90 days after you bring in customers that can seriously hinder your cash flow. Another example is if you get paid in Bitcoin and not in dollars. This means that. A. You are subjected to the ever-fluctuating Bitcoin exchange rate. B. You will also need to pay additional fees for converting these Bitcoins back to dollars (if you intend to do so). What is the cookie length? It’s important to know if your cookie expires after 24 hours (e.g. Amazon) or if it lasts for three months (e.g. Local Bitcoins). This will affect how many paying customers you’ll be able to bring onboard. Since if the cookie lasts longer, you’ll get paid even if the customer decides to purchase at a later date.
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