weiDex Referral System — How it works?

Introduction

By nature, people want to help other people. Happy customers like to help businesses, just as good friends like to help each other. The basic concept is to encourage customers to share your business with their friends and family. Some people think of referral tracking systems as incentivized word of mouth marketing. Typically, there is an incentive involved, which helps encourage customers to share. Many people who meet a small business or any business that they really like, want to help them succeed. Whether there is an incentive or not. One of the easiest ways to get this into motion is to provide customers with a trusted way to track the referral experience. An easy and quick way to establish this trust is to have a proper program put in place.

Giving good customer service and providing them a consistent experience is a sure fire way to get customers to recommend you to their friends. This is when referral marketing comes in hand. These systems are a great and inexpensive way to market your project. Marketing can consume a lot from your time and it can quickly become expensive. Which is exactly what makes referral marketing great.

Why it works:

It is a fact that word of mouth can be very influential. Word of mouth is one of the main reasons for its success. A referral marketing system works because people are more likely to be influenced by product recommendations from friends. A study by Nielsen found that people trust more to their friends and family recommendation over all other sources.

The system is easy because it’s a one-click thing. This is a lot easier than the alternative of calling a friend to share. Many referral marketing software options supply users with easy social sharing options. This increases shares because the user can share and be rewarded with literally the touch of a button.

How weiDex’s referral system works:

In our platform, we decided to implement a referral system where people can receive a reward for placing an order on our exchange. In other words, for providing liquidity on the exchange platform Makers will receive a 50% reward from the Taker’s fee which is 0.2%. Sounds good, isn’t it? And that’s not everything. If you invite a friend by your referral link you can get another 20% from his exchange trading fee. Do you see where we are going with this? Yeah, you can receive up to 70% rewards from trading fees.

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