As the cryptocurrency's environment is spreading, there are a lot of opportunities that are arising. In this article, we are going to review the best services that offer an opportunity to earn and refer through a win-win situation. The best ones!
This means two things: first, you can earn just to be referred to some crypto services. Secondly, you can use this strategy to increase your earnings by referring this strategy to your friends. This could also be a good way to introduce cryptocurrencies to your loved ones, helping them with the upcoming recession. I have carefully looked at these services and I think that they are the best ones you can find in the crypto-space. As always, do your own research, you can find all the resources and information on the web.
Coinbase: up 10$ each + ~50$
Coinbase does not need a presentation, it's one of the biggest crypto exchanges out there. Despite transacting with this service is somehow costly, it offers a good chance to earn easily up to 10$ for each referred friend that purchases more than $100 of cryptos.
In addition, it has a program called "coinbase learning" where you can ask to be listed to watch some videos. Then, you have to answer some simple questions and cryptocurrencies would be accredited into your account. The cryptocurrencies you can learn are BAT ($10), Stellar ($50), EOS (50$), Dai ($6), Tezos (6$), Orchid ($50) and Compound ($9). If you want to try to speed up your acceptance try to look at the hyperlinks on the crypto, maybe, if you are lucky, you'll be listed before if advised by someone that has just completed the program. Some crypto earnings are higher because they can be referred too, so in that case, it depends on you.
Coinbase is great for those who want to start with cryptocurrencies while learning the basics, therefore is a very good choice when advised to friends. This is because, as well as having no costs in this way, it allows both to earn something.
Crypto.com: up to $50 each + 2% on deposit + the syndicate + %staking + chargeback
This exchange has been successful recently. Born from a debit card and a custody app, he quickly built an entire ecosystem to access several interesting services for cryptocurrencies. In summary, crypto.com offers two main services to which each one has been dedicated a token.
App + debit card
- Their mobile application is used to hold cryptocurrencies and to be able to spend them with their debit card. Furthermore, by depositing cryptocurrencies and binding them for a certain period, you can earn interest on deposits, as can be seen in the following image. You can earn on your deposit for a lot of cryptocurrencies and the average is 5%/year with an increase to 12%/year on stable coins. However, it has to be said that this application is not a wallet and it's centralized, even if they have insurance on deposits and they have created a wallet.
- Holding their token, MCO, allows you to have the higher rate of interest on the deposit of cryptocurrencies, but also to request their debit card.
- The card has its own advantages, in fact, it offers cashbacks based on the type of card you choose. In practice, for every purchase with the card you are refunded a percentage of what you spent, in their cryptocurrency. To apply for this card, you will need to bind a certain number of MCO tokens for six months and verify your identity.
- Finally, the crypto.com app offers a rich referral service, for example by following this link and downloading the application (using the ref ktktd7n3pm), we will both receive $50 in MCO, tied until you decide to order the card, if you decide to do so. However, there are no constraints for the simple use of the application and for all the other advantages.
- The native cryptocurrency of this ecosystem is called CRO, and is used to obtain benefits on the exchange. First of all, by depositing any sum in the exchange, a quantity of CRO equal to 2% as a bonus will be immediately deposited as a bonus, tied for six months.
- For the first 90 days there are no costs on transactions for each pair.
- By binding additional CROs up to 10,000 units, you will have further benefits such for example discounts on transactions and a priority on the new listings of cryptocurrencies into the exchange, in a process called "the syndicate".
- The syndicate allows you to access to the new listings with a discount of 50% of the actual price. For example, when cardano was exchanged for $0,08, with this event they sold it for $0.04 depending on the CRO holdings. In this image are displayed the last listings.
- It is possible to stake their currency, to earn up to 18%/year paid in CRO.
- Finally, the exchange allows you to earn a small percentage of interest also on other unconstrained cryptocurrencies on their exchange, not to mention that the costs of the commissions are very low.
These are the reasons for its recent success, in fact the crypto.com ecosystem is one of the most complete and most profitable in terms of depositing cryptocurrencies, as well as probably the only one that pays interest simply to hold cryptocurrencies in their exchange.
However, crypto.com and its app have recently been involved in the scandal of Wirex Card, a debit card issuing company that has declared to have lost funds for an amount of $2 billion in the corporate balance sheet. Although this scandal has affected all the debit card services in the sector, crypto.com has stated that the funds held on the application have not been affected in any way. In addition, the company took immediate action to resolve the problem by ensuring its users continue the service and start looking for other partners. Some doubts still remain, however, the main problem arose from Wirex's VISA circuit belonging to traditional finance and not from the crypto.com ecosystem, which has always worked well and has proven to respond quickly to problems.
Celsius Network: up to $20 each + $20 bonus
Celsius Network is a mobile app that allows you to buy, earn, and borrow cryptocurrencies. Although it related to decentralized finance, the network is coordinated by a company with headquarters in the UK and USA, therefore it is centralized. However, as they claim in their site, they share 80% of the revenues with the users of their application, and the capital deposited is ensured up to $100.000.000 by insurance partners such as FireBlocks. They have their token, CEL, which is used to take advantage of the services inside the app, in a system which is very simple and intuitive to use. They also have a referral and an affiliate program. With the first, through the app, we both get 20$ if you download their app on your phone with this link, and you deposit at least $200. The second, through email, give $50 but only to the referer, so I opted for the first, so you can get more. Then you can insert the promo code "SUMMER" to have another $20 bonus for another deposit of $200, a bonus that will expire soon. Summarizing, the basic services of the Celsius Network are three:
- Earn. You can earn interest by depositing a cryptocurrency in their app, with the rate listed in the image below. There is no minimum deposit, there are no fees for withdraws and funds aren't locked up. The interest in green are calculated if you decide to be paid in CEL, their native token, which increases your returns more or less 30%. You can withdraw your funds whenever you want and interests are paid weekly just for depositing. They also have a calculator for returns that you can check out here.
- Borrow. You can get the cash you need by using cryptocurrencies as collateral. Borrowing crypto has two advantages, even if it seems contradictory to lock more crypto than you get. First of all, you can use the liquidity you borrow without moving your cryptocurrencies, so you can use money as you want, promising that you will repay your debt on the expiration date. Secondly, it has fiscal advantages, indeed, by taking a loan without selling crypto, avoids you paying capital gains legally (depending on your country). Loans start at $1000 with an interest rate from 0.70% APR if using CEL, otherwise they start from 1% APR.
- CelPay. This service allows you to transfer quickly and freely your crypto to your contacts. It is as simple as sharing a link, and it does not need a wallet, which can be a good or a bad feature, depending on points of view.
The app is nice and easy to use, and it offers a loyalty program of token holders. It also offers an overview of its users, which is very useful to observe how statistics are changing though the community.
Blockfi: up to $10 each
BlockFi is a similar product to Celsius or the Crypto.com app, however, the main difference is that they don't have their native token, but they concentrate on the most influential crypto in the space. The referral program allows both the referred person and the referer, to earn $10 with a deposit of $100. After 5 referrals the bonus goes up to $20. Here you can see a comparison of BlockFi with other services.
Interests are accumulated every day and are paid the first of the month. Deposit and withdraw are not bound, so you can take your crypto whenever you want, but the interest accumulated is not paid for that month if you withdraw before the expiration date. The rates of interest are shown below.
Similarly to other services like Celsius, the BlockFi system allows you to borrow money, with the same aims and the same logic as before. You can deposit your crypto to use them as collateral and, in turn, get liquidity. You can learn more about their services here. Looking for security aspects, their funds are secured with Gemini, one of the most famous exchanges run by Cameron and Tyler Winklevoss. As they claim in their site:
BlockFi client assets are securely deposited with our primary custodian Gemini at a unique wallet address generated by Gemini, a New York trust company licensed by the New York State Department of Financial Services. Gemini is a fiduciary under §100 of the New York Banking Law and held to specific capital reserve requirements and banking compliance standards. Gemini also has digital asset insurance coverage and is SOC 2 Type 1 security compliant on its exchange and custodian platform.
Eidoo: up to 2$
Eidoo is a multicurrency wallet integrated with a hybrid exchange. This means that you can exchange your tokens without losing control of your private keys. The app offers also an overview of your portfolio and a debit card, which allows you to spend your cryptos in a decentralized fashion. Here you can find more details about the ecosystem, however, they recently merged with ProvableThings to give their customers a way to participate in the decentralization of finance. For instance, they allow you to use Compound tokens to generate a passive income. The app for desktop and mobile is very easy to use, and, even though the referral is not so generous, their hybrid exchange makes them unique in their kind.
Other crypto-referrals you may be interested in
These are other good services which give the possibility to take advantage of their referrals. However, in most cases, there are only benefits to the referer.
- Brave Browser. Brave is a safer and more private search engine which allows you to speed up your web experience. It gives 5$ for each friend referred.
- Publish0x. Did you know that Publish0x has a referral program? For each friend referred you can earn up to 5% on their tips.
- Ledger. Buying this hardware wallet through referral allows you to earn 10% on each sell.
- Exchanges. There are a lot of referral programs made by exchanges, which offer you a percentage of the transaction's fee of people you refer. If this post gains some interest, I could dive in more detail on these benefits for each exchange.
- Trading View. This is one of the tools most used for trading. They have a free plan, in which you could analyze chart data on most of the financial assets and create your own trading system, and a subscription plan, which allows you to use several charts at once and to take advantage of other features such as the volume profile.
Summarizing, it is possible to earn by referrals in a win-win situation up to $92 for both sides, with additional returns by taking advantage of their other services. For instance, Coinbase could increase your rewards by $50 and the interest paid on deposit from Crypto.com, Celsius and BlockFi, allows you to increase even more your funds. All these earnings could be a starting point for the creation of passive income. In addition, the future of cryptocurrencies seems to be bright, therefore it could potentially add more gains to your portfolio through revaluation of cryptocurrencies, which finally doubles benefits.
As a final thought, using these services is a good way for risk differentiation, indeed, having all our funds in just one hardware wallet could be risky too. For instance, when you lose your crypto there is no way to recover it, but with these services you are somehow ensured for that fraction of capital that you use. Diversifying in more services allows you to mitigate that risk even more. Moreover, in some countries diversification also adds fiscal benefits, in that it allows you to divide your capital without accounting your holdings in one account, avoiding problems with taxation.
Good crypto to you!