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Thanks Michael for answering.

Disregarding the technical aspects (what looks more nice etc.), what's generally the most SEO friendly way to do it?

More concretely, are the SEO benefits of...

So I've seen many ways of how some popular affiliate sites present their translations.

1. The most obvious is having ccTLDs like website.com -> website.de, website.es etc.

2. There's also with...