Binance Referral Program Review 2021

Binance is among the top and the world’s largest exchange platforms for cryptocurrency. Today, it has over 6 million users and serves 180 countries across the globe. It also has its own coin called the BNB or Binance Coin.

Binance referral leaderboard

The exchange also runs a highly profitable crypto referral program for its users to earn commissions through referral marketing. By joining this scheme, you can earn crypto when someone joins and uses the platform via your Binance referral code or link.

The company’s affiliate page claims that its top affiliates made Binance referral earnings of more than 2.000 BTC in commissions. Crazy.

This program is an excellent opportunity to make some passive income by working as an affiliate with Binance. In this Binance Referral Program review, we’ll cover all the necessary details about the company, its affiliate program, the signup process, and much more. This way, you’ll have a much better understanding of whether it’s right for you and how you can get started.

So, if this is something that piques your interest, you should keep reading. Take it from someone who don’t quite make the leaderboard, but has still made quite a decent amount as a Binance referral so far.

Binance referral earnings

In this Binance referral program review we’ll be talking about:

Binance: An Overview

Binance is among the world’s current biggest crypto trading platforms when it comes to weekly site visits and trading volume. Started in 2017 by a man named Changpeng Zhao, Binance experienced growth faster than most cryptocurrency exchanges. With headquarters in Malta, the company has over 1500 employees and more than 6 million users worldwide.

Binance members can also trade 100 + cryptocurrencies, including major altcoins like Chainlink, Bitcoin, Ethereum, and Litecoin. That explains why it’s among the top exchanges with the most weekly site visits in the industry. Besides its Binance Coin, the platform also supports multiple languages (37 at present) to cater to clients worldwide.

The trading fee on Binance is just 0.1 percent, which is relatively low. Besides credit/debit cards, bank transfers, and SEPA, you can also make fee payments using the BNB coin. The platform also offers additional discounts if you use their Binance coin. If you do use it, you’ll only be charged 0.075% for the fee instead of 0.1%.


Binance Services

Binance allows you, as a registered member, to partake in crypto trading. As such, the platform makes it easy for you to work effortlessly without going against any regulations.

You also have the option to choose between “classic” & “advanced” interfaces for P2P trading and OTC. With the classic interface, you can quickly view the market & trading pairs, allowing you to switch pairs easily. On the contrary, the advanced interface enables you to access the charting tools as many times as you want. 

If you’re new to Binance, you’ll find both interfaces to be slightly complex. Nevertheless, with time, you’ll begin to see the minute differences between the two. And hopefully, pick one that best aligns with your trading preferences.   

Besides crypto trading, the Binance platform also offers a staking service. It allows you to get returns on DeFi (Decentralized Finance) and Proof-of-Stake (PoS) coins. You can get a yearly payout of 0.5%-10%. Binance also has an outstanding selection of cryptos, allowing you to trade together with XRP, Bitcoin, and BNB trading pairs.


Binance referral program explained

In an attempt to boost its user base, Binance introduced its affiliate program in 2017. The company’s cryptocurrency referral program was launched in 2019, making it relatively new. Nonetheless, it has significantly grown in popularity and is now a huge success and have helped make Binance the #1 cryptocurrency exchange Worldwide based on daily trading volume, even dwarfing popular exchanges such as Coinbase, Kraken and Bitfinex.

Binance daily volume

Through the referral scheme, you can earn commissions when you refer someone to Binance. Each time one of your referrals register on the platform and complete a trade, you’ll earn a payout in real-time.

During the initial phase of the referral scheme, you were able to earn a 50% Binance referral program commission. As a high-paying referral scheme, it’s no wonder why several traders jumped on board and took advantage of it. In fact, most were able to make hundreds of BTC by simply referring new people to Binance. However, in 2018, the company lowered its referral commission from 50 percent to 20 percent. Nevertheless, if you have 500 BNB tokens or more, Binance doubles referral rewards to 40 percent.

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Binance has also linked the commission on trade fees for both the Futures & Spot Programs. That means you can receive a commission whenever your invitees trade on either Binance’s Futures or Spot markets. As such, you can now refer people to Binance using a Binance Futures referral code and the Spot referral link. Plus, you’ll receive the payout from both.


Binance Referral Program: How Does It Work?

If you’re interested in making money through this referral program, you’ll first have to register on Binance. Once you have created your account, sign in and visit the referral page. There, you’ll find the exclusive Binance referral ID, which you can share with your friends, colleagues, and family.

Every time your invitees register and perform trades on the platform, you’ll receive a 20% commission of the fees they pay to the exchange. You can also split the commission with your referrals so they can get a lifetime trading fee discount. This can be a brilliant way to stand out when promoting your affiliate link.

The following example will help you better understand how the referral program works.

Let’s assume that you invite someone through your Spot referral link. If the invitee trades on either Spot or Futures, you’ll receive a referral commission.

In contrast, if you refer people through your Futures referral link, you’ll now get commission on the invitees’ trading fees. You’ll receive the referral reward anytime they complete trades on Binance’s Spot or Futures.

Reminder: To receive both Spot & Futures payout when inviting someone, you’ll first need to have your own Futures account. You can refer friends via your exclusive Spot referral link without opening your Futures account. However, you’ll only get a commission on the people’s Spot trading fees in this case.


Binance Referral Commission & Discount/Kickback Rate

In this section, we’ll look closely at the commission & discount/kickback rates.

For Spot:

  • Say your BNB daily account balance is below 500 BNB on average and 20% base referral rate. In this case, you can share 0% to 10% as per your preference with the people you invite.
  • If the daily balance is equal to or above 500 BNB on average, your base referral rate doubles to 40%. Plus, you can share between 0-20% of it with friends you invite as kickbacks.
  • Visit here to see detailed information on how Binance calculates the commissions & kickbacks.

For Futures:

  • If you hold 500 Binance coins or less per day on average, then you’ll earn a base referral bonus of 20%. You can then split the 20% with a friend, which means you take a 10% commission for yourself. Meanwhile, your friend gets a 10% discount on fees.
  • If your daily BNB average is more than 500BNB, your base bonus will be 30%. You can share 10% with the person you invite and retain the remaining 20% Binance exchange referral bonus.

How to Sign Up For the Binance Referral Program?

Joining the referral program on Binance is relatively easy, and you get it done in just five minutes. Here’s a detailed tutorial on how you can register for the referral scheme. These steps will also be helpful for those who want to learn how to find Binance referral ID.

Step 1. Create Binance Account

It’s very easy to register and create an account on Binance. If someone referred you to Binance, you can use their referral link and earn a lifetime discount on trade fees.

Otherwise, you can visit Binance and go to their signup page. Once there, you’ll have to provide your email ID and your desired password for your account.

Binance registration form

After filling in the necessary details, tick the terms & conditions and tap on “Create Account.” You’ll then receive a verification code through your email to verify the account.

Step 2. Navigate to the Binance Referral Section

Binance referral navigation

After successfully creating your account, you’ll be able to log in and join the referral program. For that, you must click on the account icon (see image above).

Upon clicking the icon, you’ll easily find the “referral” option, which will direct you to Binance’s referral program dashboard. Once there, you’ll be able to generate your Binance referral code ID, link, and QR code. We’ll explain each of these in detail below.

Step 3. Generate Your Referral Link

Generating Binance referral link

Binance’s referral dashboard presents multiple options to choose from. To get your referral link, you’ll have to click on the “Generate your link” button( see picture above). You can then move forward with the next step.

Step 4. Set Your Preferred Friend’s Discount/Kickback Rate

Binance referral kickback rate selection

Next, you’ll come across different options, as seen in the highlighted parts of the image above. These indicate the percentage of commission you’ll receive and the trading discount your friends will get.

Once you’ve set the preferred amount, you can include a note for the code generated. If you’re planning to create several referral codes, adding names to identify them is be an excellent idea.

Step 5. Share Your Distinct Binance Referral Code & Link

Copying Binance referral link or ID

Finally, you’ll get to see your referral code for Binance, which you can start sharing and earn commissions. Simply tap on the highlighted icons (see image above) for easy sharing.

And that’s all you have to do to join the referral scheme and get your unique code and link.

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Types of Binance Referral IDs

Once you join the referral program, you’ll have three different options to receive credit for inviting new people to Binance. To get a commission for a new referral, you have to refer them using one of the referral IDs below. If not, it won’t be possible to determine how they registered, and you won’t get rewarded for referring.

1.     Referral ID Code

Binance referral ID

The most common way for users to sign up via the Binance referral code is to enter the information manually. During the signup process, the invitee will have to enter account details, including an email ID and password. Below the fields for email and password, you’ll find another box where you’ll have to input the referral code.

This manual process of entering a referral ID occurs when your friends visit Binance.com without using your referral link.

Let’s assume someone performs a search on Google and finds a direct link for Binance. The system won’t be able to track that new referral, and as such, no ID fills the box during registration, if a cookie with your referral ID isn’t stored in their browser.

That’s where your referral code comes into the picture. By giving your unique Binance referral code to friends, they can simply use it to create their account. You’ll then receive a commission whenever they complete a trade.

2.     Referral ID Link

Binance referral link

The other way to receive commissions for referring people to Binance is by sharing a referral link. Though it’s possible to enter a code manually, the link makes for a much easier option.

When your invitees use your link, the unique code will automatically fill the referral ID field. When they trade, you’ll receive credit.

Next to your unique referral link, you’ll notice an option to copy the code. Tap on that, and the system will automatically copy and add it to your clipboard. You can then share that information with potential referrals.

3.      QR Codes

Binance referral QR code

Finally, we have the QR code, which you can use from the referral dashboard. Upon scanning, the code will direct one to the ID’s landing page. This will allow the system to track your referral ID for the new signup.

QR codes didn’t really become as popular as they were once expected to be. Also, it probably won’t be of much use to most affiliates.

Nevertheless, they’re still a unique and straightforward way to share your link with people. Moreover, they’re an excellent option to share on social media like Twitter, LinkedIn, and more (see picture above). You can even include them in marketing flyers and posters. 


Binance Referral Program Rule Details for Spot & Futures

Here are some referral rules for Spot and Futures that you need to keep in mind:

  • Every referral bonus gets transferred in real-time. One reason behind the Binance referral program’s popularity is its prompt payment. The company calculates and credits the commissions to respective accounts in real-time.
  • The affiliates’ referral payout will be the same settlement assets used by the invitees to pay their fees.
  • Binance’s referral program doesn’t include liquidation fees, and as such, you won’t get credit for it.
  • The company calculates referral bonuses daily and updates the info by 8 AM (UTC). This applies to Futures referrals. For Spot, all referral commissions get calculated every day at 2 AM and get updated at 10 AM (UTC).
  • There isn’t any referral limit. You can invite as many family members or friends as possible. However, twelve months after the invitee’s Futures account activation, the referral bonuses expire. Also, it’s up to the company to increase the expiration period.
  • Binance doesn’t allow self-inviting through multiple accounts. If you do so, you’ll lose your referrals, referral commissions, and kickbacks.
  • Binance may make adjustments to the percentage of referral bonuses and even the referral program rules at any time.
  • You can get a referral bonus only if the invitees are VIP1 or less. If the referred members reach VIP2, Binance will no longer offer a commission.

Binance.com vs. Binance.us: Referral Program

So far, we have been talking about the global version of Binance. But, the company also has another smaller exchange called the Binance.US. Like the main exchange, Binance US also offers a referral program.

In 2019, Binance had to restrict US-based members from its global platform due to the growing regulatory pressure. But to continue serving its American clients, the company launched a separate exchange for the US-based customers called Binance.US.

Both exchanges are similar to each other; after all, US-based Binance is just a smaller version of the global platform. The trading fees, customer support, security, and reputation of Binance US remain the same as Binance.com.

The only main distinction between the two is in terms of coin selection. You’ll find that the global Binance offers more tokens for trading compared to Binance.US. That’s mainly because of the different regulations present in the US. Additionally, the signup process in Binance.US is slightly lengthy as one has to undergo an advanced verification.

Binance.US Referral Program Details

In March 2020, Binance US introduced its referral program. Like the global Binance’s referral scheme, it allows you to earn a percentage of the referred users’ trading fees as commissions.

To join the scheme, you must first create an account on Binance.US. Unlike the global Binance, you’ll have to pass an advanced verification to register. You’ll also have to submit all the required personal information and agree to the Terms & Conditions. Only after successfully completing the process can you register for the program and start earning referral commissions.

To register for the program, sign in to your account and tap the “support “button available on the dashboard. You’ll then see the “referral” option (see image above). Upon clicking it, the referral page will pop up. There, you can find your Binance US referral code and Binance US referral ID. 

Like Binance.com, you can get 20 percent of trading fees if your BNB balance is below 500 BNB. If you wish to double it to 40 percent, you must have 500 BNB or above.

It’s also worth noting that the Binance.US is only available for Americans in 37 states. If you reside in Vermont, Texas, New York,  Louisiana, Idaho, Hawaii, or Connecticut, you won’t be able to access the platform. That means the referral program will also not be available in these restricted states.


How To Get Referrals on Binance?

You can rely on multiple ways to get new referrals on Binance and earn more commissions. Given below are the most common and easiest ways to get new Binance referrals.

  • Incentivize your followers: You need to know how to promote the services and communicate their benefits to potential referrals. Binance referral program allows you to provide kickbacks of 20 percent on trade fees to community members. Use that information when referring potential referrals, and it’ll help convince them to sign up using your referral ID/link.
  • Use forums or blogs: Another option is to promote your referral code and link on forums and blogs related to cryptocurrency and finance. You can even rely on Reddit to promote your links.
  • Create a website: Starting your own blog or website dedicated to cryptocurrencies is another excellent option. If you do start a blog, make sure you post valuable, original content and include your referral links.
  • Share on social media: Finally, you can even share the referral links on various social media channels that you’re on. You could even upload digital currency-related videos on YouTube and include the links in the description. Twitter hosts a big crypto community too, so start following people, engage in conversations and drop your referral link when possible – without being spammy!

Reasons for Binance Referrals Cancellation

Binance continues to adjust its policies to keep up with prevailing market conditions. That explains why the company keeps implementing new regulations.

Here are some things you should avoid doing, or else you risk losing your Binance referrals.

Imitate Binance on Your Social Media Channels or Website

Binance is firmly against affiliates imitating it by copying content, logos, and images. That’s because this action might confuse other customers. For this reason, it’s crucial that you closely examine how you package and design your websites. Doing so will ensure the site avoids mimicking Binance in an attempt to convert traffic.

Besides mimicking through logos and images, you should also avoid customizing and making your social media accounts resemble Binance. Binance strongly suggests all its affiliates use their unique tactics and personal profiles to attract new referrals. You should also avoid using URLs that are identical to Binance’s URL.

Sharing Binance Referral ID Links as Baidu, Bing, Google Advertisements

Binance also holds a strong stance in terms of advertising techniques. As an affiliate of Binance, you’re expected to refer new people to the exchange organically. As such, you should avoid using advanced marketing strategies like search engine advertisements.


Benefits of Joining Binance

In this section, we’ll cover some of the benefits you get to experience when you sign up on Binance. They are:

Comparatively Low Fees

You won’t find that many cryptocurrency exchanges that offer relatively low fees like Binance. Moreover, when you trade on its platform, you can lower operational costs by using the BNB coin.

0.10% is the company’s standard trading fee, which is fair in comparison to other exchanges. Nevertheless, if you settle the trade fees using BNB, the total cost will fall by half (0.05%) on every trade. As such, you’ll be able to generate stable gains.

Large Selection of Coins

Another great benefit of Binance is its wide selection of coins. The platform allows you to purchase multiple crypto coins that may not even be available on top exchanges.

Binance also supports various fiat currencies, including INR, GBP, HKD, AUD, EUR, and USD. Some of the popular cryptocurrencies available on the platform include Bitcoin, Cosmos, Litecoin, Ethereum, Cardano, Compound, Storj, and Dash.

Excellent Commission Structure

It’s not common for a newly formed organization to become an industry leader within a short time. The primary tactic behind the company’s success is its consumer-friendly rates. It has allowed Binance to attract several visitors.

Binance’s affiliate and referral programs are also why the exchange has amassed a large user base. These programs have become a huge success, mainly because of the incredible commissions that Binance offers on referrals. Though the company regularly reviews its commission structure, the rates it offers are among the best.

Prompt Payment

Binance calculates and transfers all commissions and bonuses in real-time. Its prompt transaction strategy is what helped the exchange to attract customers worldwide. When your referrals complete trades on the platform, you’ll receive your dues almost instantly.

Instant Response to Forks

Whenever a user base or developers decide that a critical aspect of a crypto coin requires modifications, a fork occurs.

Most exchanges and web wallets don’t make prompt transactions related to forks because of the fluctuations in price. However, that isn’t the case for Binance, thanks to its quick response to forked coins. Say, for example, you hold Bitcoin or Ethereum, and a fork occurs. When that happens, Binance will offer you an equivalent amount of tokens depending on the fork. As such, you won’t have to wait for the exchange company to adjust the coins and instead trade immediately.


Binance’s Referral Program: Pros & Cons

Pros

  • You can refer as many people as you like.
  • Prompt payment of commissions and kickbacks.
  • Anyone can join the program.
  • Incredible commission rate.

Cons

  • Expensive and difficult to double the commission rate to 40 percent.
  • Binance can make changes to the referral program rules whenever it deems fit.

Binance Referral Program FAQs

In this section, we’ve carefully handpicked and answered the most commonly asked questions about the referral program on Binance. So, keep reading to learn more.


Bottom Line

Binance is among the world’s top cryptocurrency exchanges at present. It also has an immaculate reputation for offering safe and secure cryptocurrency transactions.

Also, the referral program it offers is among the best schemes in the industry, with incredible commission rates and kickbacks. It provides an excellent opportunity for anyone looking to make passive income by simply referring people to the platform.

Binance’s referral scheme lets you earn about 20% commission for referring someone to the exchange. You can even double this rate to 40 percent by holding 500 BNB or more.

If you sign up for the program, keep the referral rules in mind to take good advantage of this scheme. Also, avoid using referral methods that imitate Binance, be it the logo or content, so your referrals don’t get canceled.

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Marketing isn’t magic. There’s a science to it.

– Dan Zarrella

Binance Referral Program
Overall
4.4
  • Customer Support
  • Commission Model
  • Referral Longevity
  • Payout Scheme
Crypto Affiliate Programs » Binance Referral Program Review 2021
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