Jar is a platform that allows users to invest in digital gold for as little as ₹10. But have you ever wondered how Jar earns money without directly charging its customers? Let’s look more at Jar’s business model and how it earns revenue while providing a simple and less charge experience.
How Jar App Works
Jar has a unique concept where it helps individuals invest in digital gold. Jar offers digital gold purchases starting at just ₹10, eliminating the need for additional charges from jewellers and taxes. Jar stands out for one reason: its simplicity of entry. you can buy gold at low prices and sell it later on.
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Referral Program: Earning While Sharing
Jar App offers a referral scheme to encourage users to share their experience. This is how it works.
- Earn by Referring:
If you share your referral link with friends and they sign up using your code, both you and your friend will receive a reward. For example, the app may provide a ₹5 signup bonus for your friend, while you can earn up to ₹5,000 in prizes.
- Win-Win Situation:
This referral method results in a win-win scenario. New users receive a bonus, while existing users gain by inviting others to the platform. It’s an effective approach for Jar to expand its user base without spending a lot of money on advertising.
How Does Jar Make Money?
While it may seem like Jar is offering a lot for free, it has a few clever ways to generate their revenue:
- Spread on Gold Prices:
In each transaction whether you are selling or buying digital gold, Jar earns from the difference between its buying and selling price which is known as the spread. Though small for the user, this margin builds up as more people enter the trade on this app.
- Partnerships with Gold Providers:
Augmont is among the major gold partner that Jar works with. These provider deal with the physical gold transactions and given that Jar likely receives commission or a fee for each completed transaction via the app.
- Affiliate Partnerships and Offers:
Jar might mix with other financial services, wallets or utilities with possible special offers could be provided to users. With each of these services, if a user rewards the offer then Jar gets paid a referral fee by the particular service.
Spin-and-Win Feature
Jar also offers you to communicate with a chatbot in the application, make a “spin and win” – to receive coins, bonuses, or cashback. This type of interaction brings users back to the app more and more which makes to higher transactions in app.
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Conclusion
Jar App’s business model is based on affiliate agreements and high-volume transactions, which allow it to collect fees from gold providers without directly charging customers. Jar’s focus on smooth user engagement and automated savings ensures steady revenue while providing a fee-free experience. It’s a win-win strategy in which consumers benefit from simple investments while Jar benefits behind the scenes.
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