What is Binance Referral ID?
The Binance Referral ID is an identifier used in the affiliate program provided by the cryptocurrency exchange platform Binance. This identifier is used when inviting or recommending other users to join the exchange.
Here are some of the advantages of using a Binance referral code to sign up versus not applying it:
- Benefits of Rewards: When you invite someone to Binance using your referral code, you can receive a percentage reward each time that user trades. As a result, inviters can earn additional revenue, and invited users also receive referral benefits.
- A Win-Win Situation: The Binance Referral Scheme creates a win-win situation that benefits both users and exchanges. Exchanges can acquire new users and users can receive rewards, which motivates them to attract more users.
- Community Expansion: When users who sign up using referral codes invite more users, it helps to expand the exchange’s user community. This can lead to increased trading activity and market expansion.
- Various Affiliate Benefits: In some cases, using a referral ID provides various affiliate benefits, not just invitation rewards. In the case of Binance, through the referral program, we can provide various benefits such as special rewards, discounts, and participation in events.
However, when signing up using a referral code, the invitation must be done in a legitimate way.
What is Binance Exchange?
Binance is known as one of the largest cryptocurrency exchanges in the world. Founded in 2017, Binance has grown rapidly in a short period of time, occupying a major position in the cryptocurrency exchange market.
Key features of Binance include:
- Multiple Cryptocurrency Trading: Binance offers a wealth of trading pairs that allow you to trade hundreds of different cryptocurrencies. This allows users to trade a variety of digital assets and diversify their portfolios.
- High trading volume and liquidity: Binance is a platform with very high trading volume and liquidity, helping you to process your trading orders quickly and trade at good prices.
- Strong Security: High confidence in the security of user assets. Binance has strong security measures in place to prevent incidents such as hacking and protect user assets.
- User-friendly interface: The user interface of the exchange is intuitive and easy to use. This makes it relatively easy for new users to start trading.
- Referral Program: Binance offers referral rewards to users through the referral program, which helps many people to invite other users and promote Binance.
- Provides a variety of services: In addition to the exchange, Binance provides a variety of services to help users conveniently manage and use cryptocurrencies.
For this reason, many people prefer to use Binance. It is a popular platform, especially among users familiar with cryptocurrency trading and new users alike. However, as your choice of cryptocurrency exchange may depend on your personal preferences and requirements, it is important to properly compare and consider other exchanges as well.
How to sign up for Binance Exchange
The procedure for registering as a member while applying the referral code to Binance Exchange is as follows:
- Access the Binance website: First, access the Binance official website. Go to the Binance website using a modern browser.
- Start membership registration: When you access the Binance website, you will see a “Register” button on the top right corner of the homepage. Click this button to start the membership registration process.
- Enter your email address and password: Enter the information requested on the signup page. Set up your email address and password. You should keep your password safe, so it’s a good idea to choose a password that is complex and not used on any other site.
- Enter referral code: At the bottom of the form on the signup page, there will be an item called ‘Referral ID (optional)’ or ‘Referral ID (Optional)’. Enter your referral code here. If you have received a referral code from someone else, you can receive rewards by entering the referral code.
- Completion of Membership Registration: When all required information is entered and consent is completed, the membership registration process is completed. You will receive a verification link in your email, so you will need to check your email to complete the verification process in order to activate your account.
- Security Settings: Once your account is created, log in to finalize additional security settings. We recommend using two-factor authentication (2FA), etc. to enhance security.
If you register as a member by applying the referral code, you will participate in the referral program, and rewards will be provided to both the user who provided the referral code and the user who invited you.
Binance fee information
There are three main types of trades available on Binance Exchange. The main fee information for each transaction type is as follows.
- Spot Trading:
- Spot trading is the most common type of trading and involves buying and selling real cryptocurrency assets.You can get discounts on trading fees based on your 30-day trading volume and BNB holdings.
- The fee depends on the user’s 30-day trading volume and BNB holdings.
- You can get discounts on trading fees based on your 30-day trading volume and BNB holdings.
- The trading fee is usually 0.1% depending on the trading volume. However, discounts may apply depending on your membership level and BNB holdings.
- Futures Trading:
- Futures trading is the buying and selling of cryptocurrency futures contracts.
- Fees are applied to buy and sell orders respectively, and fees are charged in a manner similar to margin trading.
- Fees vary according to trading volume, membership level and current market conditions.
- Generally, the higher the trading volume, the higher the fee discount.
- Derivatives Trading (Options Trading):
- Options trading is the buying and selling of option contracts for cryptocurrencies, and you have the right to buy or sell cryptocurrencies at a specific point in time.
- Options trading fees also apply to buy and sell orders respectively, and are similarly dependent on trading volume and membership level.
The fee policy may be updated periodically by Binance, and for detailed fee information for specific trade types, it is best to check the Binance official website for the most accurate and up-to-date information. You can also save on trading fees by taking full advantage of Binance’s discounts based on your BNB holdings.
The information in this post may contain errors. For this reason, we recommend that you go directly to their site for more information. We also want to let you know that the links in this post contain referral codes, which may provide some revenue to the author of the post.