Starting June 1st, 2016, we are increasing the standard commission rate for advisors from 33% to 40%. Advisors who generate revenues of $1500 or more on average each month (calculated quarterly) will continue enjoying the 33% commission rate.
Our ecosystem has evolved and there have been changes in our cost structure, as with the entire industry. Because we remain a relatively small and efficient team, we have been able to wait over 2 years since the previous increase.
You can find your commission rate by going to My Profile. There you will see a summary of your current status.
At the end of each calendar quarter our server will calculate the total amount charged in all of your conversations from the previous quarter. For example, at the end of the first quarter, our server will add the total amount that you charged clients on BitWine (excluding chargebacks) during Jan 1-Mar 31. If that sum equals $4500 or above (i.e. $1500 average per month), then you will be a Top Advisor, and enjoy a 33% commission rate.
You need to make $1500 in total revenues during the calendar month in order to be a Top Advisor during the following calendar month.
We think it is. The standard rate for all BitWine advisors has increased, though it is still considerably lower than competing platforms of similar size, where total commissions and platform fees often exceed 60%. Despite this increase, we want to give advisors a chance to avoid it altogether, so we are rewarding top-performers with a discounted commission rate. We want you to be a Top Advisor, too.
Sorry, but no. The calculation and assignment of Top Advisor status is 100% automated and handled by our servers.
We’re not. The standard rate for everyone has increased, though it is still considerably lower than competing platforms of similar size, where total commissions and platform fees often exceed 60%. We aren’t punishing you- we are rewarding top-performers by giving them a discounted commission rate. We want you to be a Top Advisor, too.
This price increase is mostly unrelated to changes in the product itself. Regardless, we are indeed investing in improving both the platform’s underlying infrastructure and its user-facing components, such as the website and the Taskbar software. We acknowledge that there is still much to improve here and are more than willing to invest in making BitWine the best psychic advice platform for clients and advisors alike.
There’s plenty you can do. Some ideas: Keep your profile up to date, stay online as much as possible, use a real photo of yourself, build up your client base by offering a $10 deal and attractive per-minute rates, find new clients by participating in forum conversations such as “Ask a Psychic”, participate in Happy Hour, or invest in Premier Placement, connect your Facebook and Twitter accounts to BitWine. And if you’d like for a BitWine team member to review your profile and suggest improvements, send us a request. Treat your work on BitWine with the seriousness of running a long-term business and it will pay off.