Coindirect is currently looking for vendors to partner with in the UK, India, Malaysia, Pakistan and 20 other countries.
Vendors on Coindirect can earn money from selling and buying Cryptocurrencies to the growing number of global users currently on the platform. This peer-to-peer marketplace is a single platform that lets its users buy, convert, sell and store over 30 of the most popular cryptocurrencies.
Being a Vendor for Coindirect means being your own boss by working from anywhere, setting your own prices and choosing your own hours. The site also offers a dedicated support team specifically for Vendors to assist you in creating successful Offers. Starting early will allow you to get a head start as an established and trusted Vendor for users.
Run through the 7 steps below to see if you are suited to start a career as a cryptocurrency Vendor, trading in the UK and beyond.
#1. Sign up and Verify Your Account
To set up your Verified Coindirect account, you can follow the straight-forward steps here. You’ll need a clear copy of your proof of address, a government issued identity document (Like your Passport), and selfie of your face next to that same identity document.
Verifying your account allows Coindirect to follow international best practices with Know Your Customer (KYC) and Anti-money laundering (AML) regulations. Once your account is approved by the Coindirect team (it takes up to 24 hours), your account will be ready for trading.
#2. Invest Capital
Just like traditional trading, you’ll need to invest some initial capital to start buying and selling cryptocurrency. An upfront investment creates the liquidity you need as a Vendor to purchase, and sell, significant volumes of Pounds.
Larger volumes mean that even if the profit margins seem small, you’re still able to create consistent profits for yourself.
#3. Understanding The Markets
As a Vendor your profitability will rely on your ability to understand the shifting cryptocurrency market values. Having a solid grip of how cryptocurrencies function and a strong financial background will definitely play to your advantage as a Coindirect Vendor.
Your potential income will come from the success of the trades you offer on the platform and accepting the financial risk involved should not be taken lightly.
#4. Choose Your Payment Methods
Coindirect let’s you transact directly with buyers and sellers using bank transfers. In addition, you can set up alternative payment methods like as PayPal, M-pesa or TransferWise, which makes it possible to transact with buyers or sellers in 23 other countries around the world.
As a Vendor, we would advise setting up multiple payment methods to make your offers more accessible. This can all be done under a single Vendor account.
Coindirect lets you create Offers in whichever country you have a relevant payment method setup in. Their automatic currency conversion system means potential buyers can view your Offer in their local currency, taking out the difficulty of managing multiple currencies and accounts.
When a buyer completes a transaction with you, Coindirect will instantly convert your Bitcoin into the required currency.
#5. Creating Your First Offer
With a verified Coindirect account and your chosen payment methods set up, you’re now able to start trading by clicking the ‘Create an Offer’ button on your Dashboard. This will open a window that allows you to fully customise your Offer specifications. This is where you’ll choose which cryptocurrency you want to buy or sell, which country you are selling from, which wallet to use and the payment methods you support.
Vendors can decide if they want to set a fixed price or use an equation to adjust the value to market trends. They can set their minimum and maximum trade amount limits and the time limit in which buyers are required to pay for an order. Please note that Coindirect does charge transaction fees like every other platform, the fees can be viewed on the Coindirect fees page.
With Coindirect, you are able setup multiple Offers, with a maximum of 2 Offers for each altcoin per country. As soon as you confirm your Offer, it will be posted on the Coindirect Buy or Sell page and remain live until the balance of the wallet that you have setup runs out. If you want to make any changes to a live offer, you’re able to pause or hide the offer while you edit it. Once you’re finished, simply switch the Offer back to live.
#6. Use The Partner Area To Keep Track
There is a separate Partner Area dashboard on the right-hand side of your Coindirect profile menu that includes some additional features for Coindirect Vendors. This is where you can post new Buy or Sell Offers, edit your live Offers, track the progress of orders placed with you and also view your past Offers.
#7. Quickly approve new orders
Live Offers should be tracked on a regular basis to quickly conclude any new orders coming through. Quick approval on orders will translate to positive ratings for your account, creating a reputation of a trusted Coindirect Partner. You will have an advantage for being one of the first Vendors in your country as it will let you build a strong Vendor reputation before anyone else does.
Approving orders is made easier with their chat functionality that allows you to create a dialog with users who are ordering cryptocurrency from you.
All transactions that take place on Coindirect are escrow-protected for your security. This ensures both parties honour the agreement.
Coindirect holds the purchased coins on behalf of the seller in a secure, third party location until the transaction is finalized, releasing them once both parties are in agreement. There is also a full Dispute Resolution process with Coindirect for any irregularities experienced during the order process.
Bonus: Take Advantage of Affiliate Program
Once you’re signed up to Coindirect as a Vendor, you’re able create a 2nd revenue stream by signing up to their Affiliate Program.
Each new user you refer to the site is an opportunity to earn extra cryptocurrencies. Get 20% commission on all fees generated by the trades made by the customers you refer.
The more referrals you make, the more you can earn from Coindirect’s daily cryptocurrency payouts. Learn more about how it works by going to the coindirect homepage and clicking on the affiliates tab.
Partnering with Coindirect.com gives you the freedom to be your own boss by trading with the growing cryptocurrency market. The sooner you start, the sooner you can establish yourself as a leading vendor in the UK and beyond.