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If you want to promote cryptocurrencies in 2024, this article will give you all the info you need to aim for a six-figure income. We’ll start by exploring cryptos – and the crypto trader mindset – and then lay out some effective affiliate marketing strategies. Read on for a fast affiliate’s guide to cryptocurrencies.
A Basic Insight into Cryptocurrencies
Cryptocurrencies are digital currencies. Many online businesses and services accept payment with cryptos but can never hold them in your hand like traditional coins or banknotes. Cryptocurrencies are stored in digital wallets and use sophisticated blockchain technologies and digital ledgers to track ownership and payments.
Cryptos like Bitcoin, Ethereum, and Dash are decentralised. All this means is that they aren’t national currencies. So far, cryptos aren’t issued by any central banks or regulated by governments. The world of cryptos is an open global market, and anybody can get involved. There are rumors that Donald Trump just killed off the possibility of a new Digital Dollar.
If you wanted to launch your own cryptocurrency, nothing would stop you. All it takes is technical skills and resources. New coin offerings are a high-risk venture, but there are plenty of crypto entrepreneurs who are keen to find their own market niche and make their fortunes. Not all crypto entrepreneurs succeed. The Sam Bankman Fried trial is a case in point!
Understanding Online Crypto Trading
Top brokers like AvaTrade were quick to see the potential of cryptos. From a trading perspective, cryptos are essentially just another type of Forex. Brokers were able to add crypto assets to their trading platforms, and the trader response was amazing. People were excited to have fast and secure access to cryptos and to trade digital currencies as CFDs – without actually buying them.
If you’re a successful Forex affiliate, you already know the basics of how to promote cryptocurrencies. If you’re a beginner, it’s just a case of understanding the typical crypto trader mindset. As soon as you understand their goals and motivations, you can create some high-value website content and begin to plan new marketing campaigns. Bitcoin fell below $40,000 in January 2024 – but we’re hoping it will bounce back fast. That could be the basis of your first campaign.
What Makes Crypto Traders Tick?
Cryptos are dynamic, high-profile assets that can potentially make traders a lot of money in a very short time. They attract all types of people from almost every country in the world. That said, there are a few safe assumptions that you can make when you plan how to promote cryptocurrencies.
- Typical crypto traders are men in their twenties and thirties.
- They are focused on financial success and willing to take risks to make money.
- Crypto traders tend to be impulsive. They are easily influenced by new trends, trader sentiment, and group activity.
- Some crypto traders start with very small budgets, but many have disposable income to invest.
- Many crypto traders hope to make a quick buck and are inspired to trade by news reports about crypto rallies and volatility. Use the news to boost your campaigns and understand the value of clickbait headlines.
- Cryptocurrency traders are usually interested in technology and software. Add detailed information about trading platforms like MT4 and MT5, live charts, risk management tools, and trading signals to your marketing materials; you will probably get good results.
Promote a Full Range of Cryptocurrencies
If broker affiliates make a single mistake when they promote cryptocurrencies, it’s that they concentrate on a few well-known assets like Bitcoin, Ethereum, and Litecoin. When you check out the cryptos offered by AvaTrade, you’ll see almost 20 different coins (and they’re adding to them all the time). Cryptos have all kinds of different risk levels and volatility. This is important. You must get it across in your site content and marketing materials.
Because crypto coins behave differently, they come with a range of trading terms. We’d recommend that you take some time to explore AvaTrade’s competitive spreads and the variety of available leverage and margin requirements.
- Leverage ranges from 5:1 – 25:1
- Margin ranges from 4% – 20%
- Spreads are available from 0.15% – 2% Over-Market
Whenever you mention trading terms, always look for ways to build trust. Emphasise that there are no hidden fees or commissions. When someone signs up with AvaTrade, they’re a respected client who’s treated fairly. When a trader makes money on the trading platform, their profits won’t be whittled away with bogus admin charges and dubious fees.
Regulation is a Broker Affiliate’s Best Friend!
One of the negatives of the crypto boom is the sudden proliferation of dishonest brokers and outright fraudsters. There are still a lot of cowboy brokerages that want to rip off traders (and their affiliate partners). Trust and security are a big deal in online trading and you can easily use them to your advantage. A good rule of thumb is that when you plan how to promote cryptocurrencies, you can’t have too many blog posts or too much site content about broker regulation.
When you focus on regulation, you’re not only building trust in the brokerage, you’re enhancing your own credibility as a trustworthy affiliate. Never forget your own personal branding. Your goal should always be to establish yourself as a top-ranking affiliate and make some serious money on a long-term basis! You need to be thinking years ahead and come up with smart strategies to boost your own business and credibility as an affiliate.
AvaTrade is one of the most reliable and well-respected brokers we’ve ever worked with. They take their responsibility to traders really seriously and are scrupulously honest. It’s easy to make statements like that, but the proof is in their official regulation. AvaTrade is regulated by 8 different official bodies across the world. That includes the EU, Japan, Australia and the UAE. You don’t get that kind of licensing unless you meet extremely strict standards.
Push regulation as hard as you can and educate potential traders who visit your site. It’s much easier to convert traffic when people see they are protected. The best news is that you’ll also be protected. When you work with AvaPartner, you’ll be dealing with pros who’ve been in the affiliate business for years. They’ll make sure that you’re paid on time, in full, and that you get all the help and advice you need!
How to Promote Cryptos on Social Media
If you get the basics right, social media is an amazing tool for promoting cryptos. The type of people going to trade cryptos are already spending a substantial part of their day on social sites and apps. It’s easy to reach out and connect with your demographic, the actual challenge is to get them to click on your affiliate links. An army of marketers is competing for attention on FB, Twitter and Instagram – not to mention YouTube and TikTok. You’ll always need to be one step ahead.
There aren’t any magic solutions when you promote cryptos on social media, but there are some basic rules that can help you a lot. The first is to always test and analyse your campaigns. Take the time actually to see what works – and why. Don’t be afraid to experiment and adjust your message on different platforms. Your starting points should always be:
- Keep it simple
- Make it relevant
- Ensure it’s interesting
- Try to include an incentive
- Follow your own branding
Social media is supposed to be fun, it’s supposed to be interesting, and it works best when people sense a personal advantage to being there. Look for pages and groups where potential crypto traders are likely to hang out (young men who want to make money, have disposable income, interested in tech and gadgets, etc). Use your common sense and initiative, and be confident and energetic. You’ll have results to analyse once you get your links out there.
Make Money Promoting Cryptos
One thing that ambitious affiliates always want to know is where to go to make the highest commissions. We already mentioned the problem of unregulated brokers who are basically scam artists. They prey on naive affiliates just as ruthlessly as they prey on inexperienced traders. Their usual trick is offering the kind of high CPA deal you can’t turn down. The basic rule in affiliate work is that if a deal looks too good to be true – you should avoid it at all costs!
The second question that affiliates usually ask is the best commission plan and how can they maximise their income. It’s not a simple question to answer. There are different commission plans, and they all have pros and cons. What works for an online affiliate or a social media influencer may not be ideal for an affiliate who runs a trading academy or a call center. As a rule – the best place for a new affiliate to start is with a straightforward CPA deal.
The way ahead – if you’re looking for high profits that are sustainable long-term – is to sign up with a respected partner program like AvaPartner. You’ll get generous commission terms whatever commission plan you choose. The main advantage is that they’re happy to let you renegotiate your plan as your business grows. Once you have high-value/high-volume crypto traders, you can try out a hybrid CPA or RevShare deal that gives you a constant passive income.
If you want to make money promoting cryptocurrencies in 2024, you can get started right now with AvaPartner.