Coinbase, one of the leading bitcoin payment operators and wallet services in the world, increased rewards for people who refer their friends to the company from $25 to $75.

Last month, Coinbase introduced referral bonuses to attract new customers enabling people to try bitcoin for the first time and as a result expanding the bitcoin community. The reward of $25, €25, or £25 depending on the location was paid to customers who referred a friend to Coinbase (users being referred have to sign up using the referrer's link) and bought more than $100 worth of bitcoin with the service. 

Since then, the company has paid out over $20,000 in total to customers and regards the referral program as “an outstanding success”. The program continues and the rules are the same but the referral bonus is now increased to $75. 

“We’ve crunched the numbers and decided we want to invest in Bitcoin’s growth for the long term and increase our support for the people and companies that are bringing new users to Bitcoin. Luckily, we have the capital to do just that,” Coinbase's website reads.

To share a referral link with a friend, users have to be signed in and go to the Invite friends page in their Coinbase account. Referral links have a special code at the end for account identification purposes. The link can be shared on any website, on Facebook, Twitter, or in an email or text message. The system remembers the computer from which the link was opened for 90 days and gives credit to the referrer even if a new user closes the browser and sign up to Coinbase later within the said period. 

Founded in June 2012, the prominent bitcoin company is currently co-operating with local banks in 26 countries. Last year, Coinbase bitcoin exchange expanded its operations in Europe. CoinFox reported recently that Coinbase waived their fees for one week for bitcoin purchases with euros to promote the use of the digital currency in Europe.


Aliona Chapel