The Binance referral program explained in Detail

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Binance

The purpose of this article is to provide you with a critical overview of Binance’s Referral Program. For more information, visit bitcoinxxo.com.

An explanation of Binance’s referral program.

While Binance is relatively new in the crypto world, it has exploded in growth to become a top exchange platform. Its growth is largely due to the creation of a referral program.

Both new and existing Binance users can benefit from the Binance Referral Program. Introducing your friends to Binance will earn you commissions through the referral scheme. When someone registers through your link, you will receive a commission when the new user trades on Binance’s Spot or Futures markets.

Referral bonuses are calculated as 20% of the trading fees that your referrers pay, and you can share this bonus with them by giving them 5-10% of the rewards. Keep an average daily balance of 500 Binance Coin (BNB) or more to increase your base referral rate to 40%, and you can share up to 40% with your referrals.

There might be a question in your mind as to whether or not this referral program is legit. That question is answered in the affirmative. Unlike other referral programs, Binance’s Binance Referral Program has been around since its inception, so you may be interested in knowing about its history.

It’s no wonder so many traders jumped in during that phase because Binance offered a 50% referral commission. Since users only had to invite others to the site and make hundreds of BTC, it was a simple way to earn crypto.

Binance lowered the commission rate to 20% in 2018, and it has remained that way since then.

Binance Referral Program: How does it work?

The steps below will help you get started if you’re interested in getting a discount on your trading account and earning money through referrals.

  1. Start the process

The first step is to register at Binance by following this link to save 20%. The link will automatically take you to Binance’s official website with our referral ID applied, so you don’t have to do anything else.

  1. Complete the user information form

You will be directed to a form page on the site where you will need to fill in your details. The password you choose will be one of the things you have to input. Considering how many passwords you may need as you explore the crypto space, it may be a good idea to use a password manager.

  1. Share your referral links with others

You can now access your user menu by logging in and going to the top right corner of the page. When you click the ‘Referral’ option, you will be taken to your referral dashboard. Click ‘Generate your Link’ if you do not have one.

The percentage discount option will also be shown to you so you can choose the one you want to offer. Referees will receive a percentage and an amount for their Binance trading account based on the options you select.

  1. Your referral ID should be shared

The referral ID is now ready for you to invite your friends. You will receive a commission every time someone completes a trade using your code. Every hour, referral rewards are calculated in real-time and credited to your Binance account.

Binance Referral Program Guide

1. Log into your Binance account.
2. Go to the user menu at the top right corner and click [Referral].
3. If you don’t have a link, click on [Generate your link].
4. The default referral rate is 20%, meaning that you get 20% of the fees paid by the friends you refer. However, you can choose to share 0%, 5%, 10%, 15% or 20% of the rewards with your friends.
Accounts with a daily average BNB balance of 500 BNB or more will have their base referral rate increased to 40%. These accounts can choose to share 5%, 10%, 15% or 20% with the friends they invite.
5. In this example, we chose to share 5%. When you click [Generate your link], you will see all the details on the top of the Referral page.
6. Now you are ready to invite friends to register and trade on Binance.

7. Click [Invite Now] to start inviting. You can choose different image sizes to download and share.
8. You can invite your friends using the referral link, the referral ID, or by sharing your QR Code.