It’s almost a year since the crypto crisis that shocked traders and led many to question the future of cryptocurrencies. The crypto markets went into freefall on the 10th of May, 2022, wiping almost two trillion dollars off the value of digital currency portfolios. The price of Bitcoin halved while the so-called stablecoin Luna crashed, and its counterpart Tether wobbled below the $1 line. Many crypto traders remained unfazed, and cryptocurrencies like Bitcoin, Litecoin, and Ethereum continue to attract new traders.
Crypto affiliates earned extremely high commissions in recent years. The markets peaked at $3.1 trillion in November 2021, and online brokers were competing to sign up the rush of new traders. Successful online crypto affiliates rode the crypto bull market and profited from trader enthusiasm for unregulated, decentralized digital currencies. We’ll take a look at whether the crypto markets have truly recovered from the 2022 crash and what 2023 may hold in store for crypto affiliates.
Why did the Cryptocurrency Markets Crash?
The majority of cryptocurrency traders are men aged 18 – 29. This trading demographic sets itself ambitious financial goals, trades aggressively, and displays impulsive behaviour compared to other types of investors. Many crypto traders are also relatively inexperienced investors. They’re constantly exposed to a flood of real-time information on social media and financial news feeds.
Trader sentiment and investor trends in the cryptomarkets can be sudden and rapid. When there was a loss of investor confidence in the stablecoin TerraUSD (UST), the sentiment went viral. Investors panicked and tried to pull out their money. There was a 21st century digital equivalent of an old fashioned bank run. TerraUSD, a $60 billion project, crashed in record time.
Several investors were bankrupted, and the crash sent shockwaves through the entire global cryptocurrency market. There was a knock-on effect that slashed market capitalization by over two thirds. At the beginning of 2022, there was serious speculation that Bitcoin might reach the $100k line. By the middle of May 2022, it was below $30k. Almost a year later, at the end of March 2023, BTC was hovering around the $28,600 line. The markets haven’t rejected the digital currency, but there is a new realism and caution in their approach to Bitcoin – at least for the time being.
Can I Make Money as a Crypto Affiliate in 2023?
Cryptos are a relatively new form of a financial asset. They only really began to gain mainstream acceptance in 2021, and plenty of financial experts still don’t rate them as a long-term prospect. The good news is that the markets are still trading almost a year after the 2022 crash. Online brokers like Today Markets are operating as usual and continue to offer over a dozen best-known cryptos.
The most popular digital currencies like Bitcoin are inherently volatile. Their volatility creates exceptionally profitable trading opportunities and leads to major reverses. On the 13th of March 2020, Bitcoin prices dropped below $4,000 – after trading at over $10,000 during the previous month. The market crash led to a rush of signups at online brokers, as new traders snapped up BTC at its temporarily low price.
- 1st January 2019, BTC traded at $3,747, down 81% from its previous record high.
- 19th January 2021, BTC rose $5,000 in a single hour on the strength of a tweet by Elon Musk
Bitcoin has displayed rollercoaster volatility over the last couple of years. In July 2021, it slumped to $29,668 (the same range as May 2022 prices). Four months later, on 9th November 202, BTC peaked at $67,344.
It’s clear from historical data that Bitcoin can recover its value after sudden plunges. Other cryptos have a different level of volatility but also follow basic market principles. Despite BTC’s roller coaster ride, concerns about future government regulation, and the potential fallout of the Sam Bankman-Fried trial, Bitcoin is still going strong. 2023 has great potential for crypto affiliates, and top partner programs are continuing to pay high commissions for new traders.
How do I Promote Cryptos as an Affiliate?
So how do I promote cryptos as an affiliate? Well, this month, the crypto crash burned a lot of investors and raised the issue of whether cryptos are a dangerous bubble, a financial delusion, or even just a giant Ponzi scheme. It’s early days, but the markets absorb the losses. The crypto markets have lost 2/3rds of their market capitalization almost overnight, but the situation appears to be stabilizing. The traders who didn’t cut and run seem to be taking a long term perspective and holding on to their assets.
When promoting cryptos as an affiliate, you should remember the core trader demographic – men in their twenties. Indeed, the online trading platforms appeal to plenty of women and older men, but most of your high converting traffic will be young males. They are willing to accept risks in the pursuit of fast profits. Your marketing materials, content and campaigns need to resonate with them.
5 Key Points for Promoting Cryptos as an Affiliate in 2023
- Present volatility as a positive aspect of cryptocurrencies.
- Target people who’ll consider buying now in the hope of a future price rise.
- Promote any news event that shows cryptos positively, e.g. governments or major institutions adopting cryptos.
- Look for credible financial commentary about future crypto price rises and incorporate it into your content, especially on social media.
- Use historical data in your content. It would help if you showed traders that cryptos could perform like a yoyo asset. Financial charts are ideal for this.
An excellent way to promote cryptos as an affiliate is to use two content strategies. Many potential crypto traders have relatively short attention spans and don’t respond well to a mass of complex content. You need to present critical data in bite-sized chunks and keep it exciting and relevant. High converting marketing materials should be visually stimulating, persuasive and incentive-based. Your traffic is more likely to click on your affiliate links if they see an immediate reward.
At the other end of the spectrum are potential traders who have the patience and the interest to absorb detailed content. They want technical and fundamental analysis and are willing to invest time and effort to understand the markets and find effective trading strategies. They will read blog posts, newsletters, market analyses and trading tutorials. The quality of your content will make a huge difference (and is a prerequisite for SEO anyway). Hire a financial content writer if you need to.
Should I Promote Cryptos this Year?
It’s difficult to predict precisely how the crypto markets will develop during the rest of 2022 and beyond. The consensus is that the markets took a hard knock, but it wasn’t hard enough to shatter wider investor confidence. There is still plenty of trader appetite for cryptos like Bitcoin. It’s worth actively promoting cryptos. Experiment with new campaigns and engage personally with your traffic and active traders. You can adjust your campaigns to address trader concerns and expectations if you can understand trader sentiment and mood.
FAQ
Do Today Markets Partners Pay Commissions for Crypto Traffic?
Yes, Today Markets continues to offer an excellent selection of the most popular cryptocurrencies. They are keen to sign up new traders, and Today Markets Partners is ready to pay high commissions for quality traffic. You can negotiate your commission plan from the basic CPA, Dynamic CPA, RevShare and Master Affiliate models. The crypto market is still a trillion-dollar concern and will likely rebound and gain new market capitalization. There is a tremendous amount of money in circulation, and you can earn high profits as a crypto affiliate. Talk to Today Markets Partners today about becoming a high earning affiliate partner.
Where Can I Find High-Quality Crypto Traffic?
Where you look for high-quality crypto traffic will depend to an extent on your existing commission plan – CPA, Hybrid CPA, or Revshare – and how you want your traders to perform. If you’re hoping to attract high-volume, long-term crypto traders (and earn a percentage of their trading volume as a commission), you’ll need to identify and target serious traders with plenty of trading capital. Social media is always a good starting point, especially if you can connect with existing traders. Another strategy is to identify high-quality financial websites and blogs and start publishing guest posts containing your affiliate links.