KOLs & promotion
Referral income: a promoter can profit when you overtrade
The event that triggers payment explains more than the enthusiasm of the recommendation.
Los artículos de investigación y las referencias se publican en inglés. La navegación está disponible en siete idiomas.
En este artículo
Referral programmes can pay for registrations, deposits, trading fees or other activity. The exact trigger matters. A creator paid from trading fees may earn more when followers trade frequently, regardless of whether those followers make money.
A simple comparison
Suppose two users generate the same fee volume. One earns a profit and the other loses. A fee-based referrer may receive the same payment from both. This is an illustrative incentive model; actual programme terms differ. It explains why a referral relationship should be disclosed rather than assumed to align with the user's result.
Assess the recommendation separately from the discount. A fee rebate does not establish that a platform, leverage level or strategy is appropriate. More trades can still create more total fees despite a lower rate.
MASTR's Survival Guide raises this issue alongside copy trading: the platform, lead trader, referrer and follower may all earn or lose under different conditions. Document those roles before comparing performance. Read the copy-trading study and liquidation risk.
Fuentes
- MASTR: Crypto Survival Guide, four original panels
- MASTR: copy-trading research snapshot, 9 August 2026
Investigación revisada el 5 de septiembre de 2026. Historical cases retain the date and legal status of the cited record.