Binance.US takes shot at Coinbase, starts affiliate marketing program

Binance.US, the American subsidiary of Binance, the largest cryptocurrency exchange by trading volume, is launching its affiliate marketing program in the midst of a bearish cryptocurrency market. This comes as other cryptocurrency platforms and exchanges are struggling, particularly Binance.US rival Coinbase, which days ago, closed its affiliate program, citing bear market conditions.

The Binance.US affiliate program is a way of incentivizing third-party influencers and entrepreneurs to promote the exchange through social media platforms and other means of publicity. According to a Binance.US representative, the program is an example of how much the firm is “leaning in while competitors and peers pull back in the current market environment.”

The representative also mentioned via email, “In light of recent reports that Coinbase is shutting down its affiliate marketing program, Binance.US is launching its own affiliate program.”

What you should know

• This is not the first time Binance.US has taken a swipe at Coinbase’s reaction to this year’s crypto market slowdown. Back in June, Binance.US CEO, Brian Shroder said he would happily hire any applicants disappointed by Coinbase’s job cuts and hiring freeze.
• According to the blogpost by Binance.US, those affiliates joining the Binance.US affiliate program will earn $10 on every referral that completes their first $100 in buys and/or trades within 30 days of completing account verification.
• It also mentions that After the one-time $10 reward, earn 20% commission for every eligible buy and/or trade placed over the first six months of completing account sign-up.
• To be a part of the program, Binance is looking for applicants, “with a minimum of 6,000 followers who have a platform or presence in finance, crypto, or tech, though we also consider applicants who produce high-quality content regardless of the number of followers they have.”

Binance.US is looking to position itself and capitalize on the strain other crypto platforms are going through, as the best crypto platform for low fees in the United States, where they can buy popular cryptocurrencies.