Getting Started

What is the Coinbits Referral Program?

The Coinbits Referral Program is a great way to get rewarded for telling your friends and family about Coinbits. When anyone uses your invite link to sign up to Coinbits and converts their funds between bitcoin and cash, you begin earning 50% of their fee revenue for 1 year.

How do I start making referrals?

To access your referral page, click Invite & Earn in the sidebar. Your referral page shows how many referrals you have and how much bitcoin you’ve earned.

Here's how to use your referral link:

  1. Copy it to your clipboard.
  2. Share the link with friends and family.
  3. When your friend clicks the link and signs up for a Coinbits account, you will receive rewards credited to your account every time they buy or sell bitcoin.

Who's eligible?

U.S.-based Coinbits members who have an active custodial account in good standing are eligible to make referrals.

What currency is used for referral rewards?

When one of your referrals converts cash to bitcoin, the reward is in bitcoin. When they convert bitcoin to cash, the reward is in cash.

How many rewards can I earn?

There is no limit! Keep referring your friends and family to keep growing your rewards.

Who should I refer to Coinbits?

The Coinbits Referral Program is for your friends and family.

Where do I receive referral rewards?

Referral rewards are deposited into your custodial account on Coinbits.

How often are referral rewards paid out?

Payouts occur once per week.

I haven't received rewards even though I think I should have. What happened?

There are a few reasons this can occur.

The most common reason is that your referral did not use your link to sign up, and instead signed up to Coinbits independently. If they did this, the referral will not be linked to your account, and we cannot retroactively change this.

Another common reason is that your referral signed up but has not gone all the way through the process of verifying their identity, funding their account, and making transactions. If you think this may be the case, check in with your referral, and consider offering help to get them started.

The Coinbits referral program is for eligible participants only. It is possible that you or your referral is ineligible.

Coinbits does not guarantee that referral rewards will always be paid out, though we always make a good faith effort to do so.

It is also possible that this FAQ is outdated due to changes in the Coinbits referral program that have been made since this FAQ was published.

How do referral rewards affect my taxes?

Coinbits does not provide tax advice. Check with a tax professional to understand how referral rewards affect your taxes.

Updated on:
March 23, 2024