Cryptocurrency is a popular investment vehicle that continues to attract millions of investors worldwide – all thanks to rapid developments and innovations in the Web 3.0 space.
However, trading cryptocurrencies wouldn’t be easy if it wasn’t for the crypto exchanges. While there are numerous centralized and decentralized crypto exchanges, Binance is among the most popular ones.
But what is it, and how does it work? Read along to find out and discover an all-new lucrative code that promises the best rewards; more on it below.
What makes Binance unique is its easy-to-use platform, trading education courses, and above all, Referral rewards. If you’re an existing user, you can earn discounts and bonuses through the Binance referral code system.
Since 2021, Coin Labs have been assigned a fee discount code from Binance. Thus, if you sign up for Binance through Coin Labs, you can benefit from the fee discount and participate in the bonus event earning up to $500.
What is Binance referral code?
A Binance referral code is an alpha-numeric combination of letters and numbers available to users who want to sign up for a new Binance account. The existing Binance users share this unique code with their friends, family, and individuals interested in joining the Binance platform.
It is also known as a bonus or discount code, but in this article, we’ll refer to it by its original name. When you create a Binance account for the first time, you’ll find an optional box to enter this unique code. If you enter one, you and the inviter will be eligible for rewards and trading discounts on the Binance platform.
However, it is easy to overlook and miss the code box since it lies in an obscure gray area. Plus, it’s a one-time opportunity, meaning you can’t enter it after finishing the signup process. So, a pro tip to keep in mind is to enter the referral code right at the start.
But that’s just not it! Binance also offers kickback points to the code users. Let’s discover more about this reward mechanism.
What are kickback points?
Kickback points are the cash-back rewards that Binance offers users through its kickback program. The kickback points incentives are available to the following parties:
- Existing Binance users who invite others using the referral code,
- New users who join Binance through a referral code.
But what are the use cases of kickback points? So, every time you purchase on the platform, you will get a discount on your transactions.
You can earn kickback points after fulfilling several milestones, such as completing a certain number of trades or holding a minimum amount of funds on the platform.
The maximum kickback points percentage Binance offer is 40%, which is split between you and the person who shared the Binance code. Therefore, you have a maximum discount of 20%, while the other 20% goes to the Binance referral code provider. Furthermore, you should be aware of scammy codes promising rewards exceeding 20%.
In fact, you’ll find many scammers providing codes that claim to offer up to 90% discounts. In reality, there is no such thing. So, keep in mind to avoid using codes that promise rewards above this amount.
But this raises an important concern: how can you check whether the code is legit or a scam? It’s simple. All you need to do is check the referral code provider’s claim. If it’s beyond the maximum limit, know that it’s a scam.
Secondly, when you enter the code at the time of signup, you will get a message “Your commission kickback rate: 20% (or lesser)” under the box. If it’s above this value, you must remove the code immediately.
If everything else looks fine, you can proceed with your signup. The best part is that the discount will apply to your lifetime purchases once you activate the referral code.
How to use Binance referral code
So far, you know the exciting features and incentives of Binance referral codes.
But are you wondering, “What’s the best referral code that will provide maximum discounts?” This is where we recommend you use the following code:
The code will offer you a maximum 20% transaction fee kickback discount. If you pay for your transactions using Binance (BNB) coins, you can get an additional discount of up to 25% on your trading fee. Overall, you’ll benefit from a total of 45% discount.
Using the Binance referral code is super convenient, quick, and straightforward. Anyone can use it for a new account and enjoy lifetime kickbacks, cashback, and discounts on transactions and purchases.
Remember, you will get only one opportunity to avail of this benefit since entering the code is only available at the time of signup. If you miss the opportunity, you must create a new account and enter the code again.
Here are the steps outlined below that will help you in creating a Binance account
1. Register & Create a password
- Open your web browser, and enter https://www.binance.com in the search bar at the top. It will take you to the website page. If you are a US resident, you can go to a US-specialized Binance website. Instead of typing the above-given URL, type in https://www.binance.us.
- After loading the website, click “Sign up with Email or Phone.” In case you’re an American, click on “Get Started.” The additional process is the same for all the users, regardless of the region.
- Now create a strong password to secure your account. Binance ensures you make a hard-to-guess password with a minimum of eight characters for better protection. You will also be required to include an uppercase letter and a number for additional security.
2. Enter the Binance referral code & Check the validity
- After everything is set, enter your Binance referral code, for maximum kickbacks and various perks. When you enter the code, the kickback percentage will automatically appear below the box, supposedly 20%. This will ensure the code’s authenticity. The discount rate is available for lifetime transactions.
3. Verify your account & Enable two-step verification
- When you fill in all the fields correctly and are satisfied with the entered information, click on the “Create Account” button. It will take you to a verification page where you enter a code.
- According to your preferred registration method, you will receive a one-time password (OTP) number by email or SMS. Enter the six-digit number in the six boxes given. The system will automatically detect the filled-in field and verify your email or phone.
- To further secure your account, you will have to enable two-step verification. Again you will receive a code on your phone and enter it in the dialogue box. You will have to enter the phone number if you have registered through email initially.
- Congratulations, you have created your Binance account. Since you signed up using a referral code, all your purchases and transactions will be eligible for 20% cashback. So, get ready, enter the cryptocurrency world, and enjoy the special discount for a lifetime!
If you are using Chrome, Google’s auto-generating password is an ideal option. We recommend writing down on an offline notepad after you make a password.
How does the Binance referral code work?
Whether you’re the invitee or the inviter, Binance referral programs offer different discounts and bonuses for every party involved. So, if you want to extract your Binance referral code and share it with others, navigate to the referral program by clicking on the “Referral” section of your Binance account.
It will show you a button to generate a unique code you can share with friends, family, and others. Now, when someone enters your code while registering on the platform, they receive kickbacks, a Binance signup bonus, and an additional referral bonus, along with several other incentives.
Now, here comes the tricky part. Once you join the Binance referral program, you get a collective discount referral link from Binance. It means you’re free to set the discount percentages you want to provide to your invitees.
So, for example, if you receive a 30% kickback in total, you can set a discount level for your invitees ranging from zero to a maximum of 30%. If you set a 0% discount for invitees using your referral code, you will get 30% off every purchase they make. However, people will be less likely to use that code since they won’t gain any benefit.
In contrast, if you set a 10% discount for your invitees, they will get a 10% discount on their transactions, while you will receive the rest 20%. This will be more attractive since the invitees will now earn some benefits using your code.
The primary takeaway is that you have complete autonomy to set the rate. Make sure to strike a balance where your invitees will be happy while you’ll also get a decent discount limit.
Best of all, Binance referral code lets you enjoy a lifetime 20% discount on all your transactions.
Make sure to use it to gain exclusive rewards and benefits!
Binance referral bonus
Although you will gain a 20% discount by using the code, there are also other benefits of using the referral code. One of them is the Binance referral bonus. Binance referral bonus is the collective bonus you can get after completing certain tasks (more on this below) after account creation.
The tasks are broken down into different parts, each offering a new reward as cashback vouchers. In fact, you can gain cashback vouchers up to $100 if you open Binance using the promo code. But how can you obtain it?
Normally, there are three tasks for referral bonus tasks that you must complete within a week of account creation. Here’s all you need to know about them:
Cashback voucher of $5
The first referral bonus is the $5 cashback which you can obtain by depositing $50 or more for the first time on the platform. You can usually get this voucher by depositing fiat currency, such as USD, EUR, or your local currency. But you can also obtain this voucher by purchasing cryptocurrency from Binance P2P (peer-to-peer) marketplace.
Once you are eligible to claim your voucher, open your account and click on your account profile. Select “Reward Center” from the dropdown menu, and find the $5 cashback to redeem the prize.
The voucher process is so easy that you can claim it in no time. All you have to do is deposit $50+ in your Binance account.
Cashback voucher of $50
The next one is the $50 cashback voucher will be redeemable when you deposit crypto into your account for the first time. According to that time’s market value, it should be worth $50 or more.
Cashback voucher of $45
For instance, if you have Bitcoin, Ethereum, Tether, or any other coin in your other crypto wallet, deposit $50 on your Binance account, and redeem your $50 cashback voucher from Reward Center.
The third and last voucher is worth $45 cashback which you can earn by making a crypto trade on the platform. Again, it should equal $50 or more, based on the market value. So, if you trade your BTC of $50 on the platform for the first time, you can redeem your $45 voucher.
And with that, you can redeem a total of $100 Binance referral bonus vouchers within seven days. Remember, these are only applicable if you use the referral code at the time of your account creation. Also, you cannot use any referral codes if you already have an account.
Does Binance referral code give you free money?
Technically, yes. You can get free money from the Binance referral code through the above-mentioned process. When you create a new account using the referral code, you can obtain a $100 bonus cashback if you complete certain tasks within a weekās time. Moreover, you will have a lifetime 20% discount on your transactions.
What is Binance’s signup bonus?
A Binance signup bonus is granted to users who create a new account on the platform using a referral code. When you register using the given code, you will get a $100 welcome bonus after completing several quick tasks.
The $100 welcome bonus is unlocked through different levels of cashback tasks. So, for example, if you verify your account as soon as possible on Binance, you’ll receive a 20 USD fee rebate voucher.
Similarly, if you deposit $10 or more in cryptocurrency after verification, you become eligible for the $30 rebate voucher. You can make this deposit either with fiat money or a P2P transaction.
Last but not least, you’ll receive your final $50 rebate voucher after making your first trade of at least $10 crypto on the platform. Finally, you can redeem all these three $100 USDT vouchers from the “Reward Center.”
The table below shows the structure of how you’ll receive your signup bonuses on Binance.
| Cashback rebate | Task |
|---|---|
| $20 | Account Verification after sign-up |
| $30 | Deposit $10 or more in the account |
| $50 | Make your first trade |
Apart from the $100 bonus, you can also claim Future cashback vouchers worth up to $600 by trading on the platform. But account verification is vital for this purpose, and you must complete them in a specific timeframe. A breakdown of these $600 vouchers is as follows:
| Cashback Voucher | Task | Time Limit |
|---|---|---|
| $5 | First deposit of $100+ | 5 Days |
| $25 | Spot trade of $1,000+ | 7 Days |
| $70 | Spot trade of $50,000+ | 7 Days |
| $50 | Future trade of $50,000+ | 7 Days |
| $150 | Future trade of $1,000,000+ | 7 Days |
| $300 | Future trade of $5,000,000+ | 7 Days |
How long does the Binance verification process take?
In order to avail the numerous benefits of the Binance platform, you will need to verify yourself as a human user. This is essential since many people sign-up using bots and abuse the reward system while earning thousands of dollars. Therefore, Binance has a verification process to combat all such bot-related issues.
The basic verification is known as KYC (Know Your Customer), which helps the platform limit fraud, misuse, and phishing activities. Typically, the verification process depends on several factors and can range from a few minutes to up to ten business days. The prominent verification factors include:
- The number of documents submitted for verification
- The efficiency of the platformās network
- The amount of pending workload on the platform
However, the wait is worth it. Once the verification is done, rest assured, you will have a secured account with a legitimate user profile. You can use it to trade cryptocurrencies, NFTs, stake, earn rewards, and benefit from referral discounts. Moreover, here are the documents you need for verification:
- Proof of personal identification
- Proof of your residential address
- Your recent photo
What is Binance futures referral code?
Binance Futures is a groundbreaking program that allows you to earn a 20% commission bonus on trading fees. You can share the referral code, with your friends and invite them to open a Binance futures account. However, this bonus lasts for up to 12 months from the date your invitee activates the future account.
Furthermore, youāll also share your commission with the invitees as a kickback incentive. However, the details vary according to your BNB coins balance. Hereās a complete breakdown:
- If your BNB balance is less than 500, your base referral rate will be 20%, of which 10% will be shared with the invitee. Technically, youāll be left with a 10% commission.
- If your BNB balance is more than 500, your base rate will be 30%, of which 10% will be shared with the invitee. Fortunately, youāll still be left with a 20% commission.
In both cases, your referralās kickback rate will be 10% for the first month after they activate their future account.
Best of all, you donāt have any limitation on the number of friends you will invite from a single account. So share your code with as many friends as you like and Binance will calculate the bonuses in real time and transfer the amount within an hour.
Does Binance.US give out referral code?
Yes, Binance.US offers referral codes. All those who live in the United States can also earn commissions and kickbacks by sharing these codes. You can also enjoy a 20% discount on your transactions by entering referral code while registering on Binance US.
From the platform, you can also earn a steady $10 reward by referring your code to your friends or others. When someone creates a new account using your code and completes the $100 cashback tasks, you will be eligible for a $10 commission.
When each invitee completes the milestone within 30 days, you will get $10 every time. Plus, there isnāt any limit to inviting friends from a single account. This allows you to earn a consistent flow of commission. However, the person who sign-up using your referral code must have verified accounts.
Final Comments!
Trading cryptocurrencies isnāt free and thereās a small percentage of trading costs associated with your transactions. Fortunately, you can substantially reduce your transaction costs by availing the referral code discounts.
Create an account using code and start your cryptocurrency trading with minimal fees and excellent bonuses Today!
FAQs
What is Binance referral code?
Binance referral code will provide you with a 20% kickback discount on your transaction. Using Binance (BNB) coins, you can get an additional discount of up to 25% on your trading fee. Overall, you’ll benefit from a total of 45% discount.
What is the kickback point?
The kickback point is an advantage of getting a discount on your transactions every single time you deposit on the platform. You can earn kickback points by completing several trades or holding a small fraction of funds on the platform. The best part is that the discount will apply to your lifetime purchases once you activate the referral code.
What is Binance futures referral code?
You can earn a 20% commission bonus on trading fees by using this Binance referral code on Binance futures. You can spread the word on this referral code, with your surroundings and initiate them to open a Binance futures account. Note that this discount only lasts for a year from the date your invitee starts the future account.
