so, lunch break. been running numbers on crypto affiliate stuff for three months now. everyone talks about coinbase or kraken referrals, but the payout timelines are glacial. my data shows two clear paths. path a is exchange referrals like binance. flat cpa per sign-up, around $15-20 depending on region. conversion rate is decent if your traffic is already finance-minded, but it's a one-time hit and you're done. path b is the 'learn to trade' funnel affiliates. companies like tradingview or some broker education platforms. these are usually revshare on deposited funds or cps on course sales. lower initial conversion rate, but the tail can be long if you hook someone into their ecosystem. my current revshare from one broker program has paid more over 6 months than all my exchange cpas combined. citation needed for anyone claiming insane cpas in crypto right now lmao, most of those networks shave harder than a barber.