Coinex has updated their affiliate program to compete with competitors Binance and KuCoin. The latest change aims to provide a simpler and more accessible way for all users starting from beginners to join. We anticipate many new faces this year in 2022!
Recently, CoinEx has upgraded its Ambassador framework and fully eased the existing assessment criteria, which made it much easier to join CoinEx as an Ambassador. Plus, the exchange also offers extremely appealing rewards: up to 50% lifetime commissions on service fees.
Crypto enthusiasts who have never cooperated with any crypto platforms or received any referral commissions may not understand what 50% lifetime commissions mean. Today, we will compare the CoinEx Ambassador Program with two similar programs, the Binance Affiliate Program and the KuCoin Affiliate Program, in terms of the threshold of referral commissions, assessment criteria, and referral ratios of the three platforms.
I. The Binance Affiliate Program
Covering Binance Spot Affiliates and Binance Futures Affiliates, the Binance Affiliate Program features many demanding requirements: The applicant must be a Youtuber, a crypto community KOL, a media creator, or a content creator of some kind who meets the relevant conditions.
The program has divided futures trading from spot trading. Moreover, the trading volumes of the referred traders for the two categories are also recorded separately, with different referral commission rates. For instance, the rate of referral commissions Binance Futures Affiliates is only set at 30%. Meanwhile, every quarter, they also have to invite at least 100 new users, whose minimum quarterly trading volume must reach 500 BTC.
In comparison, on CoinEx, Ambassadors only need to achieve a referred trading volume of $500,000 in the previous month or invite at least 10 new traders during the same period to get referral commissions of 40%. More importantly, the total referred trading volume covers spot, margin, and contract trading! In other words, spot, margin, or contract deals made by the referred trader (including both old and new users invited by Ambassadors) last month will be included in the total trading volume.
In conclusion, to get 30% referral commissions from Binance, a Futures Affiliate, for instance, must invite at least 33 new registered users on a monthly average and the referred trading volume per month should not be lower than 166 BTC. In comparison, on CoinEx, Ambassadors only need to record a monthly referred trading volume of $500,000 or invite at least 10 new traders in order to enjoy referral commissions of 40%. Additionally, on Binance, the trading volumes for spot and futures are calculated separately; whereas the total referred trading volume on CoinEx covers spot, margin, as well as futures.
II. The KuCoin Affiliate Program
On KuCoin, referral commissions for Affiliates are divided into Level 1 (40%) and Level 2 (45%), which are subject to the following assessment criteria:
(1) Every quarter, KuCoin Affiliates need to invite at least 100 new registered users, of which at least 20 new users make trades, to become or maintain Level 2.
(2) Trade refers to the completion of at least one trade on the KuCoin platform, including Spot, Margin, and Futures Trading.
(3) If a Level 1 Affiliate meets the criteria of (1), his/her will be upgraded to Level 2 in the following quarter. If a Level 2 Affiliate fails the criteria of (1), his/her will be downgraded to Level 1 in the next quarter.
To sum up, to get 45% referral commissions from KuCoin, an Affiliate must invite at least 33 new registered users on a monthly average and the number of new users making trades should also meet the relevant requirement. In comparison, on CoinEx, Ambassadors only need to record a monthly referred trading volume of $1 million (including both old and new users invited by Ambassadors) and invite at least 3 new traders in order to enjoy referral commissions of 45%. In addition, regardless of how high the referred trading volume is, KuCoin’s referral ratio is always capped at 45%, while CoinEx offers commissions of up to 50%.
Having compared the threshold and ratio of referral commissions on the three trading platforms, we can tell that the CoinEx Ambassador Program is more accessible and less demanding, with higher referral ratios. It should also be noted that the latest CoinEx upgrade features lifetime commissions, meaning that Ambassadors will get commissions on service fees generated by the referred traders forever as long as they remain as CoinEx Ambassadors. By now, you should already have the answer to why the CoinEx referral commissions are highly competitive in the crypto industry.
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