Coinmama Affiliate Program: The Good, the Bad and the Ugly
This article is a summary of experiences with the Coinmama Affiliate program. The events summarized here are purely anecdotal in nature, however, several affiliates were contacted, and the same sentiments were conveyed from them to me.
Coinmama is a service where you can purchase various crypto currencies with a credit card. This article is not about the main Coinmama services per se but about their affiliate program. If you would like to find out about Coinmama’s main services, you can search Google for “Coinmama review”. There are a few positive reviews and a few bad reviews. As well you can find some reviews on Reddit.
My personal experiences with the main services offered by Coinmama were mostly positive. I did have problems successfully completing purchases. More orders failed to than were successful orders. I found this extremely frustrating as one day I would have no problems with orders on a card and the next day I could not complete an order. I know I had substantial limits on all my cards and I contacted my bank several times regarding failed orders. My bank assured me the problem was not on their end. I can only assume that limits applied via Coinmama were preventing successful purchasing of cryptocurrencies.
Regarding the affiliate program, one needs to ask, is Coinmama’s affiliate program worthwhile devoting your time and money to? I am not going to answer that question directly. I am going to provide you with some of the issues I have experienced with them and hopefully you can decide for yourself.
I participate in several affiliate programs, all in the cryptocurrencies industry. I am happy with most of the affiliate programs. I spend over $2,000 US per week promoting the affiliate programs I belong to. I know how many signups I will get per day or week and how much it costs me per sign up. Additionally, I know how much commissions I should expect from each program in accordance to how many signups I have under me for each program.
Good affiliate programs pay me instantly with every transaction into an online account within their service. Others tally my commissions until a certain amount is acquired and then send me my commissions in a batch type process. Still others run a batch once a day, week or month.
Personally, I am OK with any of these procedures, however, I prefer the process where commissions are tallied in my account in real time several hundred times per day. This type of affiliate program has my confidence and allows me freedom to withdraw or purchase their services with my commissions.
Coinmama’s affiliate program states that they do not send any commissions to any affiliate until there are 3 orders from 3 different users. Additionally, they state “Earnings are paid monthly (paid out towards the end of each month)”. I do not like vague verbiage regarding rules for any affiliate program. What does “towards the end of each month” mean anyhow?
In Coinmama’s support section of their website they state:
Your commission will be paid out roughly every two weeks. You can check your commission balance by clicking on the Affiliate button on the top right corner, and logging in.
Note: your affiliate account is separate from your individual account. When logging in, be sure to use your affiliate account name (not an email).
One can begin to see the problem, that there are two different statements regarding affiliate payouts. If they pay ever two weeks, then one has no concerns. However, if they only pay out once a month, one needs to question why would they state every two weeks?
I began promoting Coinmama’s affiliate program in November of 2017 (5 months ago upon the writing of this article). Obtaining signups was like other programs. I had to pay a bit more per signup, but that was due to where I wanted to get my sign ups from.
When I start promoting new affiliate programs I do not fund the campaigns as aggressively as I do proven-affiliate programs that currently pay me commissions. By December, I was happy to see that I had successfully completed around 40 orders and was looking forward being sent commissions at the end of December. I did not receive any commission payment at the end of December. I thought perhaps I did not have 3 different users purchasing orders even though I doubted that. I would wait until the end of January at this point.
At the end of January, again I did not receive commissions. I had 50 or so orders and was beginning to have concerns. I reduced the budget for the Coinmama affiliate program I had allocated due to my concerns. I also sent Coinmama’s support team passive emails asking when they perform commission payouts. I knew when they stated they send them and I was hoping that my nudge would trigger some action regarding my account. They responded with the information I already had. I asked them to investigate my account. They responded and said they would get back to me.
The end of February came by and again I did not receive any commissions. At this point I was direct with them. I asked when they send out commissions. They responded, and I asked why I had not received my commissions. They stated they would investigate it. 6 days later I received my bitcoin commissions into my bitcoin wallet. They apologized for their tardiness and all was good.
The end of March arrived, and I did not receive my commissions. I again sent them a passive aggressive email asking when they send out commissions. Again, they sent me information I already had which left me questioning them. A week later I asked when I can expect my commissions, they responded towards the end of the month. I responded that I did not receive commissions at the end of last month. At this point it was the middle of April 2018. I was told I would receive my commissions again at the end of April.
The end of April fell upon me and I did not receive my commissions. I sent them an email on May 2nd asking why they had not sent me my commissions. They apologized and stated that all commissions will be sent to me on the next payout schedule. Honestly, as I have only been paid once at this point and I have several official communications regarding when their payout schedule is, I really don’t know when their payout schedule is.
At this point I feel they are just giving me the run-around and do not care, do not have the bitcoin to pay me or have no intention of paying me. I sent them an email stating that I do not care what they are going to do and told them what it is I am going to do. I stated that I will write a negative, realistic in-depth review of my experiences with them and start publishing the review on several websites, particularly affiliate program watch-dog type websites if I am not paid by May 8th.
This is the reason for this article. The did not pay me. I will not be financing any campaigns for Coinmama’s affiliate program at this point. Even if they start honoring their contract with me and affiliates in general. If they honor their contract with me and affiliates for the next two months, the end of May and the end of June, then I will consider funding a campaign starting in August.
Otherwise, there are many honorable, affiliate programs that are more deserving of the marketing funds I spend on affiliate programs. At this point, I have been an affiliate for almost 6 months. In these 6 months, Coinmama has only processed 1 commission payout.
Revisiting the question– regarding Coinmama’s affiliate program, one needs to ask, is Coinmama’s affiliate program worthwhile devoting your time and money to? There are many great honorable affiliate programs out there that take their affiliate programs seriously and they treat their affiliates with the utmost respect they rightfully deserve. Unfortunately, for me, Coinmama is not one of them. I hope you have better success with them than I did if you dare to allocate your resources voluntarily toward them.