Is Coinbase abusing its referral program participants?

The following post is based on my own experience as working as a Bitcoin affiliate for the past two and a half years.

It’s with a heavy heart that I write this article, but this has gone too far. When a company with Coinbase’s magnitude allows itself to act however it wants, something has got to be said.

I manage 99Bitcoins, a blog for Bitcoin newbies that creates a sustainable business model using Bitcoin referral programs (i.e. affiliate programs).

What is Coinbase’s referral program?

Simply put, your refer people to Coinbase and if they become paying customers you get a commission for bringing them in. The program has been around for a long time, but recently the commissions were raised to $75 per paying customer from the $5 it was in the past.

The rules are as follows:

  • Customers have to sign up to Coinbase by clicking your referral link
  • They need to buy at least $100 worth of BTC
  • They need to be from one of the supported countries

Sounds attractive, right? Well, not so fast…

My own results with Coinbase’s referral program

Around two weeks ago, I decided to start a promo for 99Bitcoins’ readers. Each reader who signs

Read more ... source: Bitell