Bitcoin wallet company Coinbase is aggressively looking to expand its user base with back-to-back attractive offerings. After the launch of the Instant Exchange in mid-June and announcing zero fees for EUR-BTC conversion in the wake of the Greece crisis at the end of the previous month, the company has now decided to give its referral program ‘a serious shot in the arm.’
In an official blog post today, the company said,
“Our goal at Coinbase is to be the easiest place to buy and sell bitcoin. To that end, we’ve decided to give our referral program a serious shot in the arm. Coinbase users can now earn $25 of free bitcoin for every user they refer to Coinbase who buys $100 or more of bitcoin.”
Below is a snapshot taken from the Coinbase website.
How to get free bitcoin?
Coinbase has laid out a simple process for the benefit of the users.
To earn the referral bonus of 25 USD or 25 EUR or 25 GBP, which depends on the location of the user, a user can copy the referral link from the referrals page.
The user will have a link such as: https://www.coinbase.com/join/YOUR_REFERRAL_ID
The user will be able to link the Referral ID on any page of the website by adding ?r=YOUR_REFERRAL_ID to the end of any link to www.coinbase.com. A working example would look like:
So, if the user with a Referral ID brings in another user who clicks on the former’s link (such as above) to sign up as a new Coinbase user, the former will be registered as the referrer for that customer. However, this should happen within 90 days.
In order for the referrer to receive $25 worth of bitcoin, the new user must purchase $100 or more of bitcoin on Coinbase.
The referrer will have access to a reports page to track the progress of its referrals.
We believe this is a great offering! But, would it attract more customers to Coinbase? We will leave that up to time to tell us.