On Thursday Daniel released further information regarding the upcoming Safex Affiliate Scheme. The Affiliate Scheme will be a great incentive for crypto-marketers as a means of earning a small commission for recommended their readers/watchers invest in Safex.
And of course the affiliate system. That will be very motivating to a handful of marketing guys/gals who requested it. There we are sacrificing income from the site for increasing awareness. We are near these terms: The commission to the affiliate will be 5% of the purchase amount, the price will be 7% above the exchange price.
What what do we know?
- You will be able to buy Safex directly from the Safex.io website – Nothing new here, but in line with their website design we can be sure they’ll make this process much easier to do.
- There will be a 7% mark up on the Safex value – This is to help absorb daily price fluctuations and cover the commission costs.
- Affiliates will get 5% commission on the amount bought – A pretty good rate, especially when you consider how valuable Safex will be in a year or two!
What don’t we know?
- How the commission will be delivered – will it be automated, or will there be a level of manual intervention?
- How long will the affiliate scheme will last – Daniel mentioned that they will be sacrificing income to increase brand awareness (more on this below)
- What are the requirements to become an affiliate – Can anyone become an affiliate, or will you have to apply?
Why would anyone buy from Safex.io when they can buy it on the exchange?
One of the key aims for the Safex project is to reach the mass market. At the moment, Safex is currently owned by crypto-currency and blockchain enthusiasts. For the majority of them, buying and selling coins on exchanges is common practice, and most holders are already savvy to the crypto-market as a whole.
When you consider the process of how you currently obtain Safex coins, it’s pretty complicated and relatively long-winded. You convert your FIAT currency into Bitcoin/Litecoin/Etherium, transfer it to Bittrex, and then put in a buy order. Pretty complicated for a potential non-crypto savvy investor.
Granted, future investors would still need to get their FIAT currency converted to one of the main crypto-currencies. However, if at the cost of a 7% margin, you could skip the entire exchange process and buy Safex Coins directly, then i think a lot would consider this as an option. Purely for the convenience factor.
In the future, once the Chille/Safex Blockchain has been released and gone to market, no doubt the Safex Team will consider methods of investing in Safex directly with FIAT currency, possibly by means of a wire transfer.