SBI Crypto has introduced a referral program (Referral Program) that allows referrers to earn a percentage of the pool fees SBI Crypto receives from every account you invite (referees).
How to Participate in the Referral Program?
If you would like to become an early participant in the Referral Program as a referrer then please raise a support request ticket through our Support Channel available at the below link
Once we guide you through creating a referrals account, we will generate a unique referral code and link that you can then provide to others to use when joining our pool.
Please note that this Referral Program is a beta version and still in development. Currently this feature’s associated reporting, earnings and payment details are not available in the Pool user interface. We will make an announcement at a later date as and when we decide to further enhance the user interface so stay tuned!
How much are the rewards?
Currently, the default referral rate is 20% of the pool fees that we receive from the referees.
What coin will I receive my rewards in?
The rewards will be paid out in the same coin the invited referee is mining (e.g., if the new referee you have invited is mining LTC, then you will receive your rewards in LTC).
How often would the rewards be paid out?
During the beta feature phase rewards will be paid out on a monthly aggregate basis within the following month (e.g., rewards accrued during September will be paid out during October). We will make an announcement later as and when we decide to payout daily so stay tuned!
Terms and Conditions
- Participants of the program, whether as a referrer or a referee, are deemed to have agreed to this Terms and Conditions set forth hereunder and will also be subject to the SBICrypto Pool Terms of Service (https://sbicrypto.com/legal). This Referral Program shall always be read in conjunction with the SBICrypto Pool Terms of Service. In case of any conflict between the two terms, this Terms and Conditions shall prevail.
- The Referral Program is open to anyone whether you are an existing client with SBICrypto Pool or not.
- The referrer will receive the referral rate (the current default rate is 20%) of the service fees SBI Crypto receives from the referee through the referee’s participation in SBICrypto Pool. Rewards will be paid out to the provided addresses on the following month (e.g., rewards accrued during September will be paid out during October).
- The referrer and the referee will be responsible for ensuring that each of them are in compliance with any and all local regulatory, reporting and tax requirements and obligations associated with their participation in this Referral Program. The referrer and/or the referee shall fully indemnify SBICrypto Pool, SBI Crypto, SBI Holdings and their affiliates of all losses or liabilities incurred by such entities in connection with the participation by the referrer or the referee.
- The referees, when participating to the program, are deemed to have agree to disclosing basic details of their mining activities to the referrers for the purpose of, but not limited to, reporting and calculating the reward (e.g., account information, daily hashrates per coin).
- To receive rewards, a referrer will need to create an SBICrypto Pool account as a referrer and register payout addresses for each coin type supported (e.g., BTC, BCH, ETHW, LTC). SBI Crypto shall be deemed to have fulfilled its obligations hereunder by making the payouts to the addresses provided by the referrer and shall not be responsible for any failure by the referrer to receive such payouts.
- There is no limit on how many new referees a referrer can invite.
- Any failure by the referee in entering the correct referral code when create an account at SBICrypto Pool shall be deemed to be the referee’s responsibilities.
- A referrer is only entitled to receive a portion of the pool fees received by SBI Crypto, therefore in cases where a referrer ceases to participate in SBICrypto Pool, the referrer will no longer be entitled to receive any reward.
- Creating multiple accounts and self-inviting is strictly prohibited. If SBICrypto Pool detects any possibility of an activity/abuse of the system, we will suspend payments and cancel your participation in the referral program.
- SBICrypto Pool reserves the right to amend this Terms and Conditions at anytime without notice including suspending or discontinuing this Referral Program in partiality or entirety.