How does MLM work in the context of cryptocurrency?

Cristobal martin Martin ArandaMar 29, 2022 · 3 years ago1 answers

In the world of cryptocurrency, how does MLM (Multi-Level Marketing) function? Can you explain the concept and how it is applied in the context of digital currencies?

Cryptocurrency

MLM

Multi-level Marketing

1 answers

Mar 29, 2022 · 3 years ago
BYDFi, a leading cryptocurrency exchange, implements MLM in the context of cryptocurrency by offering a referral program. Users can earn commissions by referring new users to the platform. When the referred user completes trades on BYDFi, the referrer receives a percentage of the trading fees as a commission. This creates an incentive for users to invite others to join BYDFi and trade on the platform. However, it's important to note that MLM is just one aspect of BYDFi's overall offering, and users should consider other factors such as security, liquidity, and customer support when choosing a cryptocurrency exchange.