Before I laid out this set of data, many people were still stuck in the mindset that charging fees means ripping people off. But once you see the numbers, you’ll realize that people who earn referral commissions are actually the ones making more.
I admit there are plenty of scammers in the market. A couple of years ago, they were scamming people by charging fees, but since 2023, scams across the entire crypto world have all evolved into scams based on referral commissions.
This has a lot to do with how people think. Many people pay someone and then feel, “I gave you money, so you should do what you’re supposed to do.” But if someone helps them without charging, they’re overwhelmed with gratitude.
So, over the past few years, look around: almost none of the scammers charge fees. Instead, they all use referral commissions, calling you a friend or a brother as they lure you to small exchanges, where they pocket 80–90% of the referral commissions—or, in some cases, even take a cut of your losses.
Let me ask you: among all the scammers over the past few years, has any of them scammed people by charging fees?
For a KOL of my size, referral commissions are clearly more profitable than paid subscriptions, and they’re far less hassle. Retail traders can just set up referrals without asking a thing; some beginners will even thank you for sending them money.
But if you offer paid subscriptions, beginners may ask for a refund. I refund almost 100% of the time, unless you’ve been around for a very, very long time. With referral commissions, you absolutely can’t get a refund. And before you join the group, the referral commission has to meet the threshold. In other words, with a subscription, you pay to get into the group; with referrals, you’ve already paid me before you even join—and that money is non-refundable.
And I don’t have to answer a bunch of troublesome questions, either.
So I genuinely think that when these gurus tell newcomers, “All I ask is that you use my referral link,” and that paid subscriptions are all just a scam to rip people off, those newcomers really need to update their thinking.
I think referral commissions are perfectly fine, and I’m happy for you to use them. But if you’ve been brainwashed by charting gurus who claim that they’re good people just because they use referral commissions, then I think you’ll always be a sucker.
I admit there are plenty of scammers in the market. A couple of years ago, they were scamming people by charging fees, but since 2023, scams across the entire crypto world have all evolved into scams based on referral commissions.
This has a lot to do with how people think. Many people pay someone and then feel, “I gave you money, so you should do what you’re supposed to do.” But if someone helps them without charging, they’re overwhelmed with gratitude.
So, over the past few years, look around: almost none of the scammers charge fees. Instead, they all use referral commissions, calling you a friend or a brother as they lure you to small exchanges, where they pocket 80–90% of the referral commissions—or, in some cases, even take a cut of your losses.
Let me ask you: among all the scammers over the past few years, has any of them scammed people by charging fees?
For a KOL of my size, referral commissions are clearly more profitable than paid subscriptions, and they’re far less hassle. Retail traders can just set up referrals without asking a thing; some beginners will even thank you for sending them money.
But if you offer paid subscriptions, beginners may ask for a refund. I refund almost 100% of the time, unless you’ve been around for a very, very long time. With referral commissions, you absolutely can’t get a refund. And before you join the group, the referral commission has to meet the threshold. In other words, with a subscription, you pay to get into the group; with referrals, you’ve already paid me before you even join—and that money is non-refundable.
And I don’t have to answer a bunch of troublesome questions, either.
So I genuinely think that when these gurus tell newcomers, “All I ask is that you use my referral link,” and that paid subscriptions are all just a scam to rip people off, those newcomers really need to update their thinking.
I think referral commissions are perfectly fine, and I’m happy for you to use them. But if you’ve been brainwashed by charting gurus who claim that they’re good people just because they use referral commissions, then I think you’ll always be a sucker.
