Earning Bitcoins online through affiliate programs.
I finally decided to put some time into affiliate programs. Here's what I did, what worked and what didn't.
I'm always looking at new Crypto based affiliate programs. To find them you just have to invest a bunch of time in searching the web.
Basically an affiliate or referral program is where a company gives you bitcoin for referring them customers. In some cases they will have created a downline so you get something for not only referrals but their referrals and so on down the line.
Affiliate programs only work if you promote them aggresively. You can use pay services or you can use social media. If you use a pay service you have to determine some cost per aquisisition vs ROI formula to be succesful. Basically you have to pay less than you make to get a referral. To use social media you have to have a decent follower base. My combined following across all social sites is around 50,000 followers which is not great but enough to try different strategies and see some results.
The first step was to sign up for some affiliate programs. I decided to try and only rep things I myself would be interested in using.
Bitcoin affiliate programs will generate passive income if you have a website or source of traffic like a social media following. Companies that run Bitcoin affiliate programs will pay you in Bitcoins if you send them referrals.
#1 Sign up for an affiliate program and give them your Bitcoin address so you can get paid.
#2 You will get a unique referral link that points to their website.
#3 You share the link on your own website, Facebook, Twitter, wherever.
#4 When sombody clicks your referral link, and then makes a purchase or signs up for a service.
#5 The company sees that you sent them a customer, and you get a commission.
#6 The more people that see your link, the greater the chance that you’ll make something.
Now that you have some programs to rep, the next step is to get those links in front of some eyeballs.
Here are some methods I tried.
Twitter: Good but requires a large active following.
Facebook: Same here. Good but requires a large active following.
Empire.kred: Missions can get traffic to the page. No idea on conversion but it's pretty low.
Creating Informational Websites: Great!
Buying Traffic: Waste of money unless you really market like a pro.
YouTube: Good if you have views.
I recently found a great affiliate program I actually like and use so I'm going to use that as an example. BitMiner has been in operation for a little over a year at the time of writing this. Bitminer allows you to mine for Bitcoin using a web based interface. The only thing you need is a computer, internet connection and a Bitcoin wallet.
Basically all you have to do is open up a browser and enter a wallet address where you want to get paid. As long as the web page is open you are mining Bitcoins!
At the moment, as a basic user they will pay you 40 satoshi per minute to mine coins. That means if you leave the computer mining all day you will generate 0.0006 Bitcoin which right now is about $2.75. So basically a computer left on with the browser open and mining, earns $2.75 a day. Now I have a bunch of old laptops that I have converted to Linux boxes and while older, they are pretty peppy when running linux. You can pick these up for almost nothing or get them donated easily. Each one takes about an hour to setup with Linux. I also have a bunch of Raspberry PI's.
So the idea was to see how many computers I can get running the Bitcoin Miner?
16 Raspberry PI's and 4 laptops later I'm consistently generating $2.75 a day per machine.
$2.75 X 20 = $55.00 a day X 30 days in a month = $1650 a month at the time of writing BC is at $4588.05!
Raspberry PI's cost $35 each so 20 will cost around $700. You make that back in the first month!
Electricity is fairly minimal. The only thing you need is a really good Internet connection.
Obviously if the price drops you need more machines to make up the difference if you want consistency, but overall this really works!
Finally! A real way to earn money!