Bitmo has updated their referral program which might be good or bad depending on whether you’ve earned a referral bonus in the past.
When it first came out, Bitmo let you refer new users and they’d receive a $5 gift card. They then started providing an incentive for the referrer, giving a $50 or $100 gift card when referring five new members. The downside to that most recent referral offer is that you were limited to one bonus per lifetime. Even if you referred 50 people, you’d only receive one gift card.
The new referral program offers 1,000 Perk Points for every new member you refer. 1,000 points is worth $1, so you’d need to refer at least 50 people to make it as rewarding as the previous referral offer. In theory that’s a much worse referral program, but it’ll depend on your situation.
If you hadn’t referred five people under the old offer then this is likely worse. That’s unless you’d be unlikely to ever refer five people, in which case you’ll be better off when referring one or two new users seeing as you’d at least earn $1 or $2 rather than nothing.
If you’d already earned a bonus from Bitmo for referring five new users, this new program is beneficial for you. Seeing as you’d already maxed out your lifetime earnings under the old setup, you’ll now earn $1 for each new user, so at least there’s a little reward on offer.
On a side note, it looks like the referral offer for the new member has gotten worse. In the past, new members received a $5 gift card. However, a reader reports only getting a $2 card recently when signing up.