Who is eligible for Switcheo’s Referral Program?
This program is open to Switcheo users with a Switcheo Account and users that have created a Switcheo Portfolio.
What is a Switcheo Portfolio?
Switcheo Portfolio is an initiative which allows users to participate in referral programs and reward campaigns using their existing pseudo-anonymous wallet addresses. It will also allow users to track their various trading statistics (such as PnL) in the near future.
How do I create a Switcheo Portfolio?
There are two ways to gain access to Switcheo Portfolio on the exchange:
- Creating and logging in to a Switcheo Account
- Connecting a 3rd-party blockchain wallets (e.g: MetaMask) and creating a Switcheo Portfolio
Note that existing Switcheo Account users need not create a new portfolio, as it will be automatically created for you. For users using 3rd-party blockchain wallets, find out how to create a Portfolio here.
What are the benefits for me as a referrer?
Every trade from a friend that you referred earns you 50% of their trading fees. This is capped to the first 3 months of trades your friend does, starting from the successful sign up with your referral code.
How will I receive my referral benefits?
Your bonuses will be accrued in your Portfolio and will only be paid out with a minimum balance of USD25.
Bonuses will be distributed to you in the blockchain’s native network token:
- Ethereum blockchain - ETH
- EOS blockchain - EOS
- NEO blockchain - GAS
To receive the bonuses, you will need to have the appropriate blockchain wallets linked to your Portfolio. Switcheo Account users already have all blockchain wallets linked by default.
Bonuses will be sent directly to the wallets linked to your Portfolio at the end of each quarter.
What will benefits my friends receive?
Your invited friends will receive a 25% discount on their trading fees for the first 3 months on all trades.
How does the giveaway work?
A giveaway will happen after the first 3 months, from a pool of $5,000 BTC. The winners are randomly drawn from participants in the referral program.
To stand a higher chance to win in the giveaway, you will need to earn tickets by referring friends. Each type of ticket is rewarded when your referred friend succeeds in doing a certain action. Each type of ticket represents a different amount of chances you will receive in each giveaway draw.
Earned tickets reset at the end of each giveaway.
How do tickets work?
Your earned tickets gives you chances to win in the exclusive giveaways amounting to a total of $40,000 in Bitcoin (BTC). You earn the following tickets when your invited friends complete the actions below:
- 1 entry ticket when your referral connects to Switcheo which gives one (1) chance in the giveaway draw
- 1 silver ticket when your referral trades more than $500 = ten (10) chances in the giveaway draw
- 1 golden ticket when your referral trades more than $5,000 = one hundred (100) chances in the giveaway draw
Here is an example:
You refer your friend, Alice, and she does the following:
- Signs up for a Switcheo Account (1 entry ticket)
- She makes a trade of $762 (1 silver ticket)
- Later on, she makes another trade of $4,511 (1 golden ticket)
Next, you refer your friend Bob and he does the following:
- Connects his MetaMask wallet and creates a Portfolio with your referral link (1 entry ticket)
- He makes a trade of $1288 (1 silver ticket)
Calculations: 2 entry tickets x 1 chance + 2 silver tickets x 10 chances + 1 golden ticket x 100 chances = 122 chances
In total, you will receive 122 chances to win in the current giveaway draw! Winners will be randomly drawn based on their chances accumulated on the draw date.
There are 5 winners in the first draw, and the prize pool of $5,000 will be split evenly among the 5 winners for $1,000 each.
Tickets will automatically reset after the end of each giveaway period of 3 months, and must be accumulated again for the next draw.
How will the giveaway prizes be distributed?
At the end of each giveaway period, we will announce all winners via our official channels. The winnings will be equally split to winners from each giveaway and airdropped directly to winners’ wallet balances in either Bitcoin (BTC) or Wrapped Bitcoin (WBTC) within 30 days.
For more information: https://switcheo.network/referral
How will I know when I have successfully referred someone?
Each successful referral is automatically tracked in your Portfolio page in your Wallet Manager. You can also track your referral bonuses and tickets earned all in one place.
Disclaimer: Switcheo may revoke any bonuses or tickets if we notice any activity that we believe is abusive or fraudulent. We reserve the right to review and investigate all referral activities and to disqualify users or modify referral counts as we deem fair and appropriate.
When does the referral program end?
The Switcheo Referral Program will end on 29 October 2020, 18:00 SGT (UTC+8).
What do I do if I have more questions?
Read our full terms and conditions here.