To provide you with the most straightforward and current information, I recently looked into the status of LocalBitcoins’ affiliate program.
Unfortunately, I discovered that the company is in the process of closing its services, resulting in the discontinuation of the affiliate program.
Despite this development, I aim to conclude this examination by shedding light on the program’s closure and suggesting alternative options for those seeking similar opportunities.
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Discontinued Bitcoin trading operations
When assessing any platform, one aspect I examine is the organic traffic directed to that specific platform.
In the case of LocalBitcoins, I observed a decline in the number of visitors, which struck me as unusual…
Until I realized that they had discontinued their Bitcoin trading services.
LocalBitcoins, known for “Bringing Bitcoin Everywhere,” has ceased Bitcoin trading services, suspending new registrations since 2023-02-09.
Despite a decade of effort and community support, challenges in the crypto-winter led to this decision.
What is LocalBitcoins?
LocalBitcoins, an online marketplace established in 2012 by Finnish entrepreneur Nikolaus Kangas, facilitated the buying and selling of Bitcoins for fiat cash.
Operating in almost 250 countries, the platform aimed to revolutionize finance through cryptocurrency.
As of now, its services are no longer available.
LocalBitcoins Affiliate Program Overview
The LocalBitcoins affiliate program boasted a generous 20% commission for affiliates, with cookies having a robust three-month duration.
Payouts made daily in bitcoins, were directed to the affiliate’s LocalBitcoins wallet.
Notably, commissions were rewarded for a full year from the user’s registration.
Undoubtedly, this proved to be an exceptionally lucrative affiliate program.
How do you get approved for the LocalBitcoins Affiliate Program?
As of the current date, providing details on applying for the LocalBitcoins affiliate program is irrelevant, as the program is no longer available.
Previously, one could easily register and apply for the affiliate program.
However, as of my double-check with them in December 2023, they have confirmed the cessation of the program, as indicated in the message below:
In case you can’t read the image, here is the information:
Hello, Thank you for contacting us. Unfortunately, due to the ongoing very cold crypto-winter, we have concluded that LocalBitcoins can no longer provide its Bitcoin trading service. Since 16th Feb 2023, LocalBitcoins customers are only able to log in to withdraw their Bitcoins. The trading and Wallet services are no longer available at this point. --- Regards, LocalBitcoins
LocalBitcoins Affiliate Program Commissions & Payouts
In the LocalBitcoins Affiliate Program, affiliates enjoyed a commission rate of 20% on fees for all trades, per user.
Payments were made exclusively in Bitcoin.
For instance, if two users (a buyer and a seller) registered on LocalBitcoins.com executed a trade valued at 100 BTC, the affiliate earned a 20% commission on the trading fees from both participants, totaling 40% of the LocalBitcoins.com fee.
This amounted to an earned sum of 0.4 BTC.
It’s crucial to note that only finalized sales processed through the transaction system were eligible for commissions, and payouts were conducted daily.
Affiliate Cookie Duration in the LocalBitcoins Affiliate Program
In the now-closed LocalBitcoins Affiliate Program, any user who clicked on your affiliate link and registered was considered your affiliate for 3 months.
During this time, commissions were paid for one year from the user’s registration, calculated based on the income generated by the new user for LocalBitcoins.com through trading fees.
LocalBitcoins Affiliate Program Details
| Information | Details |
| Affiliate cookie duration | 90 Days |
| Accepted countries | Worldwide |
| Commission rate | 20% (40%) |
| Commission structure | Percentage commission |
| Payout frequency | Daily |
| Payout methods | Bitcoin |
| Minimum payout | No minimum payout |
| Website needed | No |
How Much Do LocalBitcoins Affiliates Make?
As of the publication of this article, the LocalBitcoins affiliate program is no longer in existence.
Consequently, new affiliates cannot join, and there is no earning potential through the program. However, for those curious about the historical structure, you can refer to their website at LocalBitcoins Affiliate Program for commission examples and details.
Please note that this information is provided for reference only and does not imply the availability of the affiliate program at the time of reading.
What are the pros and Cons of the LocalBitcoins Affiliate Program
LocalBitcoins Affiliate Program Pros
- Commission Structure: The program offered a competitive commission structure, allowing affiliates to earn a percentage of trading fees.
- Global Reach: With operations in 248 countries, affiliates had the potential to reach a global audience.
- Daily Payouts: Commissions were paid daily, providing affiliates with a consistent flow of earnings.
- Cookie Duration: The affiliate cookie duration of 3 months allowed affiliates to earn commissions from users who registered within that timeframe.
LocalBitcoins Affiliate Program Cons
- Program Discontinuation: One of the most significant drawbacks is that the LocalBitcoins Affiliate Program is no longer available.
- Uncertain Termination: Affiliates had to work cautiously as the company could terminate them without notice for any breach of terms and conditions. This added an element of uncertainty to the partnership.
- Risk of Scams: Given the nature of peer-to-peer exchanges on LocalBitcoins, there were reported instances of scams and users losing money. Affiliates needed to be mindful of this potential risk associated with the platform.
Alternatives to LocalBitcoins Affiliate Program
If you’re looking for alternative cryptocurrency affiliate programs, consider exploring the following options:
Binance Affiliate Program
Binance, one of the world’s largest cryptocurrency exchanges, offers its program (called, Binance Affiliate Program) that allows you to earn commissions by referring users to their platform.
With a global presence and a variety of services, Binance provides an opportunity to tap into the thriving cryptocurrency market.
Coinbase Affiliate Program
The Coinbase affiliate program, associated with a user-friendly and widely-used cryptocurrency exchange, offers rewards to affiliates for introducing new users.
Recognized for its accessibility, Coinbase stands out as a favored platform for individuals venturing into the cryptocurrency realm, thereby presenting a compelling choice for potential affiliates.
Kraken Affiliate Program
Kraken, a reputable cryptocurrency exchange, also offers an affiliate program. (see, Kraken Affiliate Program review).
With a focus on security and a wide range of supported cryptocurrencies, Kraken provides affiliates with the opportunity to earn commissions by referring users to their platforms.
Conclusion
The LocalBitcoins Affiliate Program, once a prominent online marketplace for buying and selling Bitcoins for fiat cash, is now a thing of the past. Its discontinuation leaves a void in the cryptocurrency affiliate landscape, which is indeed a lamentable development.
The program, known for offering a competitive 20% commission on fees for all trades per user, provided an avenue for affiliates to capitalize on the cryptocurrency market.
However, with the closure of the LocalBitcoins Affiliate Program, it’s recommended that those interested explore alternative affiliate opportunities in the cryptocurrency space.
Binance, Coinbase, and Kraken are among the viable alternatives, each offering its unique advantages.
As the cryptocurrency landscape evolves, diversifying your affiliate efforts can ensure continued opportunities in this dynamic market.
About the Author
Mike is an affiliate marketing analyst, content creator, and the founder of SetAffiliateBusiness.com.
Consistently producing in-depth and insightful articles. 📚💻
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