Referral Codes vs Promo Codes
Celsius offers referral codes and promo codes. Both will give approved Celsius users bonus rewards in crypto.
Celsius referral codes are different from promo codes. They must be entered/added differently and used differently for different crypto rewards. At times, both can be confusing. The community has lots of questions about the what, who, when, how and why of both Celsius referral and promo rewards, so in this article, we will explore the major differences between them.
What’s the difference between Referral Codes versus Promo Codes?
The main objective of the Celsius Referral Code Program is to onboard new users onto their platform. It’s essentially a ‘word-of-mouth’ strategy to gain new users.
On the other hand, the main objective of the Celsius Promo Code Program is to increase their Assets Under Management (AUM) from approved users who have not yet deposited assets (first-time transfers) as well as existing users of the platform.
Where Do They Come From?
Referral codes come from existing users, the community.
Promo codes come from Celsius, the company.
What Do They Look Like?
The Celsius referral code is usually a 10 character code consisting of numbers and letters. Our referral code, for example, is: 1642578c7d.
The Celsius promo codes are usually 4-8 characters in length consisting of capital letters and numbers. They sometimes depict the crypto asset ticker symbol + the amount in USD required. For example, PAXG500 (PAXG being the crypto asset and 500 meaning that $500 worth of PAXG is required).
Do They Expire?
Referral codes DO NOT have an activation period NOR an expiration date. Therefore, a referral code entered upon sign-up (before KYC) will always ben valid for a users’ first-time deposit.
However, ALL promo codes have an activation period AND an expiration date. Celsius does not disclose when a promo code becomes ‘inactive’ (or not valid anymore). However, after a user ‘enters’ the promo code into their account, they have 20 to 30 days to ‘activate’ it (called the activation period). This is the amount of time they have to deposit the required assets to ‘lock’ their promo code.
What Are The Current Offers?
The current Celsius Referral Program features a $50 + $50 Referral Bonus.
The active Promo Codes are listed here. Celsius currently offers a combination of asset deposit and loan promo codes.
How Do You Activate Celsius Referral and Promo Codes?
When a new user is referred by an existing user, they can enter the referral code upon setting up their account. The Celsius referral code MUST be entered before KYC to be validated. After the new user is successfully approved, they have to deposit $400 worth of any crypto asset supported by Celsius and hold it in their wallet for 30 days. If they do, then they receive a $50 USD referral bonus in BTC. The referrer will also receive $50 USD referral bonus in BTC.
Click here for a great article on How to Add Promo Codes. Most Celsius promo codes require a user to deposit more crypto assets as well as keeping those assets for a specific period of time. Currently, an approved user must enter promo codes manually into their mobile app under ‘Profile’ > ‘Promo Codes’. It then becomes ‘Locked‘ once the adequate amount of assets have been deposited, then ‘Received‘ one all terms and conditions have been met.
Terms & Conditions
In the case of Celsius Referral Codes, if a new user fails to deposit the adequate funds within a specific time period, or they withdraw assets before the 30 days lock period, then no one gets the $50 USD referral bonus in BTC.
You can view all the specific terms and conditions of all active promo codes here.
What Can I Do With My Awards?
Once received, you can do anything you want with your Referral, Referrer and Promo Code Awards. You can:
- HODL them in your Celsius wallet to keep earning reward interest (in-kind or in-CEL)
- withdraw your awards anytime for free (minimum of $10 USD worth)
- take out a loan against your crypto awards and use it as leverage or to pay off bad debt
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