Exolix Exchange, How it Works?

[cabalism13]

I was invited to Register for an account on Exolix, and I was surprised for the sign up Bonus which the 0.005BTC...
My Question is, how does it works? Is this Platform Legit?
Also that Bonus, as for my friend told me 0.015 is the minimum withdrawal, so  Do I just need to deposit 0.01BTC to get that? or I should spend BTC first on trading through their platform and get 0.015.

(Actually I just do want to get that Bonus 😁, I am already using Binance and I'm Loyal 😂)

[hosseinimr93]

I just visited the exchange, signed up and also checked their FAQ. The 0.005 BTC bonus is just a marketing strategy.
You cannot deposit. So, it's impossible to deposit 0.01 BTC and reach minimum withdrawal amount.
You must participate in their affiliate program and earn 0.01 BTC. Then you can withdraw 0.015 BTC.

[hugeblack]

I was invited to Register for an account on Exolix, and I was surprised for the sign up Bonus which the 0.005BTC

It's not 0.005BTC but rather an update on their database, I can make it 0.5BTC or 5BTC. Bitcoin has no value except after adding it in the blockchain and owning the private key.

My Question is, how does it works? Is this Platform Legit?

The platform that markets itself using such methods will not last, so if they are not scamming, they will scam some customers soon.

Also that Bonus, as for my friend told me 0.015 is the minimum withdrawal, so  Do I just need to deposit 0.01BTC to get that?

So, you want to pay 0.01BTC to get 0.005 update database which cost ~0.1 KB. 

[Bitcoin_Arena]

I remember seeing them ran a signature campaign here sometime back. Maybe you can try asking their representative -  https://bitcointalk.org/index.php?action=profile;u=2635081
ANN: https://bitcointalk.org/index.php?topic=5185036.0

[stomachgrowls]

I remember seeing them ran a signature campaign here sometime back. Maybe you can try asking their representative -  https://bitcointalk.org/index.php?action=profile;u=2635081
ANN: https://bitcointalk.org/index.php?topic=5185036.0

Exolix does ring a bell but trying to check out their social media accounts and other contact mediums then all of them are inactive.So the best one to reach out or to hear out come clarifications is to contact
that forum profile above you mentioned.

Its just not really that clear about on that 0.005 bonus on what are the terms and conditions for that because its just impossible to think of that there would be requirement on that for people to make
up withdrawals so easily which as mentioned where it isnt sustainable for longer runs.

[LeGaulois]

...

It's still a 0.005BTC bonus, whatever if it's in a database or a blockchain, who cares? The @OP didn't have to specify "hey guys, there is a bonus on their database!". It's obvious for everyone to not give such specification and if not they can visit the website to understand
If your boss promises a bonus you don't get it immediately et work later, right?

The bonus concerns the referal program, since when a website offering a bonus won't last and will scam?

[cryptoaddictchie]

You must participate in their affiliate program and earn 0.01 BTC. Then you can withdraw 0.015 BTC.

I also signed up on this promotion. 0.005btc is not a bad bonus if its legit. I also send the affiliate links to my friends but to my knowledge, upon their sign up there is none btc reflected or added on my account.



So I think the affiliate program is for your referrals that did transaction, then youll get a certain percentage from that.

Im also thinking the process OP thinking but I think its not the method how its done on their exchange. Maybe it is same like Bestchange service that you can exchange your coin to another crypto for a good deal.

^{They dont have a telegram group to discuss this with, cauae they only have announcement channel. Maybe its better to redirect on their ANN thread shared aboved.}

[Darker45]

This is probably legit but, for all intents and purposes, this is not a sign-up bonus. Exolix is probably not even that rich to be able to simply give away 0.005BTC for a mere signing up without receiving anything in exchange. This is given as a bonus under their affiliate program which, of course, is a way to "give us money and we will give you a little share of it."

From the Frequently Asked Questions (FAQ) from Exolix.com:^[1]

Why I haven’t received a bonus after I invited my friends to exchange?

Your balance consists of a bonus of 0,005 BTC, which you have received when registering your account and the percentage of each successful transaction that come from your account. Registrations from invited users is not enough to make a profit. It is important that these users make a successful transaction on your resource, where our API has been integrated, or through your referral link.

Highlighted portion is made so for emphasis.

So this 0.005BTC will be given to you (1) if you are implementing Exolix's API and have people trade on your own platform, or (2) if you successfully bring traders to Exolix by way of your referral link or banner placed on your social media accounts, blog, or website.^[2]

So, if you are expecting an almost free 0.005BTC, this may not be it.

[1] https://exolix.com/faq
[2] https://exolix.com/affiliate-program

[hosseinimr93]

You must participate in their affiliate program and earn 0.01 BTC. Then you can withdraw 0.015 BTC.

I also signed up on this promotion. 0.005btc is not a bad bonus if its legit. I also send the affiliate links to my friends but to my knowledge, upon their sign up there is none btc reflected or added on my account.

It's not a bad bonus. But in my opinion that's only a marketing strategy.

Assume that exchange A gives you 10% of the fee your referrals pay. It gives you 0.005 BTC bonus once you register and the minimum withdrawal amount is 0.01 BTC.
Exchange B gives you 20% of the fee your referrals pay. It gives you no bonus and the minimum withdrawal amount is 0.01 BTC.

In both exchanges, your referrals must pay 0.05 BTC as fee, so you earn 0.01 BTC. But exchange A looks more generous. In fact, exchange B is more generous. Because exchange A gives you that bonus only one time.

[Taskford]

Mostly that strategy are been used  by hyip or scam sites  so better stay away on those kind of site and don't get tempted to get the bonus since they are using that bonuses to make people think to deposit some amount so that they can withdraw the bonuses, so better not to think any of it to avoid getting scam on such platform offering the same like that.