In the months leading up to our launch in 2017, we had a gimmick: refer a friend to the platform before our launch, and you’ll both get a free trade. By the time the gates opened in October 2017, over ten thousand people were ready. The network effect of the referral program was a huge success; it allowed the platform to skip the chicken-and-egg hurdle of creating a new marketplace.
It’s no secret that word-of-mouth has been a huge growth contributor to LocalEthereum before and after our launch. According to a user survey, 1 in 5 traders signed up after they heard about LocalEthereum from a friend. We want to keep the community network effect flowing by adding a cash bonus to referrals. Referring new users to the platform is now incentivised.
If you have a website, blog, newsletter, forum, mobile app, or you’re just a really popular person, our new referral program is for you. As well as earning a passive income stream, you have the opportunity to improve the overall liquidity on LocalEthereum.
When somebody signs up using your unique link, you earn a 20% commission on trading fees incurred over the lifetime of their account. There’s no limits and there’s no fine-print.
The referral program is currently by application only. This basic vetting process is intended to limit bad actors from sharing the platform by means of spam e-mail or unsolicited messages. We kindly ask all our users to only promote the platform on legitimate mediums and to be careful not to make any false representations.
To apply for the referral program, head to the “Account” tab. Tell us in a few sentences why you’re applying for the program and how you’re going to be sharing your unique link. Once approved, you’ll be able to grab your special link from that same page and view your live referral statistics.
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