P2P Bitcoin (BTC) Exchange LocalBitcoins Explains How To Make Substantial Income During The Crypto Bull Market
The team at Local bitcoins, a leading peer-to-peer (P2P) bitcoin exchange, recently shared passive income opportunities with its affiliate program.
LocalBitcoins claims that the Bitcoin (BTC) bull market is definitely here now and is well on its way to becoming “a great year” for the flagship cryptocurrency in 2021. Financial institutions and other service providers are increasingly adopting Bitcoin, and millions of consumers around the world are now taking their finances back into their own hands by investing in Bitcoin, LocaBitcoins noted.
While LocalBitcoins shared insights on how to get the most out of the bull run of the crypto market this year, he pointed out that of course we can always buy Bitcoin and then hold (or HODL) it as a long-term investment. There is also the option to take advantage of the BTC price fluctuations through trading. Investors and traders can also maximize their Bitcoin accumulation by participating in the LocalBitcoins affiliate program.
This affiliate program works through “a strong network effect,” claims the P2P exchange. For example, if you bring a new user to LocalBitcoins and they make a trade, you will receive a commission of 20% on the LocalBitcoins trading fees for every trade your partner makes.
And if you bring more traders with you and they also trade among themselves, you can earn more crypto trading commissions from both users (that’s 40% of the total fees).
Commissions are paid daily to your LocalBitcoins wallet, and you will receive commissions for a period of 1 year after your partner has registered.
As explained by the LocalBitcoins team:
“The amount you can earn depends on the amount of bitcoins your partners are trading. Let’s imagine you bring some friends or wealthy relatives to LocalBitcoins and they trade a total of 500 BTC in one year. LocalBitcoins uses a secure escrow service to protect both the buyer and seller and takes 1% of the trade as a service fee. “
They further stated:
“For 500 BTC in a year, the service fee would be 5 BTC. 20% of 5 BTC = 1 BTC…. Just join the famous “1 Bitcoin Club” and let your partners do the trading work for you. “
For social media influencers who may have an active blog and / or YouTube channel and can organize meetings, you can use an “infinite” number of different affiliate links to monitor what source your affiliates are actually coming from , noted the LocalBitcoins team. You also mentioned that this could help you scale your network build by “focusing on the sources that most affiliates bring you so you can earn even more bitcoins”.
LocalBitcoins was launched in 2012 and is a Bitcoin peer-to-peer marketplace where users can trade with one another through a “reliable” escrow service. On LocalBitcoins, users can choose from several different payment methods and buy or sell bitcoins at the price of “your choice”.
LocalBitcoins recently confirmed that most of its customers are based in developing countries. These are places (like Argentina and Venezuela) where Bitcoin is badly needed as a store of value because local fiat currencies have failed.
Last month, LocalBitcoins reported that Russia, Venezuela and Colombia are among the main markets with the most BTC trading activity.
In November 2020, LocalBitcoins stated in a blog post that the quantum computer threat to Bitcoin should be taken seriously, but there is enough time to update the current security systems (experts claim).
In July 2020, LocalBitcoins reported annual sales of more than $ 29 million for 2019, and the exchange also updated its AML / KYC processes.
Last year, CipherTrace, a data and cybersecurity firm deeply rooted in the crypto asset sector, released a report that quantified the activities of crypto criminals.
In a document covering the first 5 months of 2020, CipherTrace claimed that nefarious activity had raised $ 1.36 billion, making 2020 a banner year for the bad guys (maybe more than $ 4.5 billion) Dollars in 2019. Finnish exchanges rank # 1 for the highest percentage of criminal BTC for the third year in a row, with 12.01% of all BTC funds received coming directly from criminal sources.
LocalBitcoins, one of the largest peer-to-peer crypto marketplaces based in Finland, received over 99% of these criminal funds. Major P2P Bitcoin marketplace Paxful overtook LocalBitcoins (last year) in BTC trading volume. Paxful is also considered to be one of Chainalysis’ safest exchanges.