"Up to '₩100 million' payout"…Bithumb launches 'Invite Friends' service

South Korean cryptocurrency exchange Bithumb announced on the 2nd that it has launched a new 'Invite Friends' service.

'Invite Friends' is a service where current Bithumb members can share an invite code with friends. If a friend who receives the invite code joins Bithumb for the first time, that friend receives ₩50,000 in Bithumb KRW. The referring member can receive ₩30,000 in Bithumb KRW per friend invited.

The referrer can generate a 'personalized invite code' in the Bithumb application (app) and share it with friends who are not yet Bithumb members. Friends who receive the invite code can receive benefits after registering the code within 7 days of signing up by linking their KB Kookmin Bank account and completing customer verification (KYC).

A referrer can invite up to 3,333 friends. If the maximum number of people are invited, an additional ₩10,000 is paid, allowing for a total payout of ₩100 million. However, Bithumb KRW received as a benefit will automatically expire if unused within 30 days of coupon registration.

A Bithumb representative said, "The Invite Friends service utilizes the MGM (Members Get Members) strategy, allowing our customers to share Bithumb’s convenient services and benefits with others," and added, "We will continue to provide a variety of content that users can participate in and engage with directly."