Update 10/7/21: Looks like many more people got paid yesterday. Hopefully everyone got paid at this point.
Update 9/13/21: Looks like more people will finally get this bonus:
In June 2021, we ran a limited-time promotion that enhanced our standard referral program and featured a bonus payout to both the referrer and the referee at a promotional rate. Unfortunately, this new program caused confusion among some of our existing and new members about the terms and conditions of the program. Therefore we have decided to pay new members and their qualified referrals at the promotional rate that was offered in June of 2021.
We are currently reviewing your account to ensure that any eligible bonus is paid out at the promotional rate within the next 30 business days. In the meantime, you can review the terms and conditions for qualified referrals here.
Thank you for your continued patience.
Best,
The Yieldstreet Team
Update 7/27/21: Lots of readers in the comments report getting their signup/referral bonuses today. Seems most got $200 for some or all of the referrals, but most did not get the $200 for signing up (either getting nothing or just $100). Bit of a mess in terms of figuring out what was paid out and what wasn’t.
Update 7/16/21: Another email went out today telling some people to expect only $100. Seems some will get $100 and some will get $200, but I have no idea at this point. Also not sure whether they are giving out the $100/$200 only for new member or only for referrer or both.
Update 7/9/21: Another email went out today indicating they will pay out the $200 for each referral, both for signing up and for referring others, I believe. Not sure if everyone got it, possible they found some more meritorious than others or that they are still reviewing each account. (ht reader Evilex)
Update 7/8/21: New email from YieldStreet which no one is sure what they mean, see below. Not clear if they are saying they’ll be paying out $200 for new member but just $100 for referrer, or $200 for new member and nothing for referrer, or something else.
They did have in their original terms that referrals were only for friends (which is why we chose not to open a DoC referral thread), though it’s difficult to determine what qualifies as a ‘friend’, e.g. someone you know from Reddit should qualify, as I see it. Also, even those who referred real friends/family are getting the same email – they don’t have a way of knowing who referred an actual friend and who referred a stranger.
Thank you for your interest and participation in Yieldstreet’s standard Referral Program. We wanted to reach out to you to let you know that your account is eligible to receive a referral bonus from our standard Referral Program, which pays $100 for each eligible referee, up to the first 20 invitations.
In June, we also ran a separate promotional program which you were ineligible for. As stated in the terms and conditions, invites were only intended for people you know personally and we believe you (or the person who referred you) made improper use of this program.
You can expect to receive a payment in the coming weeks. Thank you for your support and understanding, and we look forward to having you as an investor in the future.
Best,
The Yieldstreet Team
Update 6/11/21: Reader John sent in a screenshot of the old terms (full screenshot | closeup screenshot | current terms) which did not have the 30 day requirement. Hopefully they honor the old terms for those who signed up before the change. Change happened on June 10th in the afternoon, from what I understand.
Update 6/10/21: Readers noticed today in the terms that in order to be eligible for a referrer bonus you need to have been on the YieldStreet platform for 30 days or you need to be an actual investor which requires at least $1,000 minimum investment. (It’s possible these terms will impede the new member from getting their bonus as well if they used a referral link from someone who was on the platform for less than 30 days.) My guess is that these are terms which were added today and were not there prior, but I don’t have any saved screenshots and can’t say with certainty. Unclear how this will play out.
You must be a Qualifying Member to be eligible to receive cash compensation in accordance with the Program. Subject to the limitations herein, a “Qualifying Member” is a member (i) with an individual Yieldstreet account (A) that has completed all know-your-customer, confirmation of identity and two-factor authentication requirements as may be requested by Yieldstreet in its sole discretion (B) that has successfully linked to an external bank account and (C) has met all of the foregoing requirements in items (A)-(B) for at least 30 continuous calendar days prior to any referral or (ii) that is a past or current investor on the Yieldstreet website.
The Offer
- YieldStreet offers $200 for simply opening an account through a referral link. No deposit required.
- The referrer also gets $200.
The Fine Print
- Subject to the limitations herein, a “Qualifying New Account” is a new individual Yieldstreet account (i) opened by your Invitee using the special designated link from your invitation, (ii) that has completed all know-your-customer, confirmation of identity and two-factor authentication requirements as may be requested by Yieldstreet in its sole discretion, (iii) that has successfully linked to an external bank account and (iv) has met all of the foregoing requirements in items (i)-(iii) within 30 days of the applicable Invitee’s receipt of the invitation. Yieldstreet is not responsible for incorrect entry or other failure on the part of your Invitees to meet the standards of a Qualifying New Account.
- Referrer Bonus: The terms state a limit on the referrer of 20 referrals per quarter, or $4,000 per quarter. However, some are getting an email stating they have lifted the referrer cap.
Our Verdict
YieldStreet is an alternative investments platform. You don’t need to deposit any funds to be eligible for the $200 bonus, just signing up (with identity confirmation/2-factor) and linking an external bank triggers the $200 bonus for you and $200 for your friend who refers you. So long as you are comfortable giving your info and linking a bank, this can be a really sweet deal, especially if you have a friend who will gain from it as well as the referrer.
There’s a separate alternative deal for signing up and depositing $10,000 to get a $500 bonus.
At this time we do not have a thread for referring to Yieldstreet since the terms stipulate that you only refer friends. Do not offer or solicit a referral in the comments. You can try googling to find a referral link or see the comments of this post for various options of how to find a referral.
Hat tips to readers JL and Adam
Do not offer or solicit a referral in the comments.
