Cryptocurrency is a popular investment vehicle that continues to attract millions of investors, including Pakistanis 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 the most popular one among the Pakistani crypto community. In fact, it’s often the primary exchange where most Pakistanis first learn about the world of cryptocurrency.
Best of all, Binance offers lucrative codes that promise the best rewards for Pakistanis. 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.
Without any further ado, let’s uncover more details about Binance and learn about a unique code that increases rewards for Pakistanis. Let’s go!
What is Binance referral code?
A Binance referral code is an alpha-numeric combination of letters and numbers available to Pakistani 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 grey 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.
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 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 Pakistani 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 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 can Pakistanis use Binance Referral Code?
So far, you know the exciting features and incentives of Binance referral codes.
The code will offer a maximum 20% transaction fee kickback discount. If you pay for your transactions using Binance coin (BNB), 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. Any new Pakistani trader 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
- If you’re a Pakistani, Click on Visit Binance now!🚀 tab at the bottom. It will take you to the website page.
- After loading the website, click Sign up with Email or Phone.
- 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 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 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 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 for Pakistanis?
Whether you’re the invitee or the inviter, Binance referral programs offer 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 your Pakistani and foreign 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.
Make sure to use it to gain exclusive rewards and benefits!
Binance referral bonus for Pakistanis
Although you will gain a 20% discount by using code, there are also other benefits of using the referral code. One of them is the Binance referral bonus. The 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 (you convert this into PKR for equivalency) or more for the first time on the platform. You can usually get this voucher by depositing fiat currency, such as PKR. But you can also obtain this voucher by purchasing cryptocurrency from Binance’s peer-to-peer (P2P) 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 the 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 referral code, you can obtain a $100 bonus cashback if you complete certain tasks within a week’s time. Moreover, you will have a lifetime 20% discount on your transactions.
What is Binance’s signup bonus For Pakistanis?
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 (PKR) 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 Pakistan?
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 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 platform’s 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 and NFTs, stake, earn rewards, and benefit from referral discounts. Moreover, here are the documents you need for verification.
- CNIC, or NICOP
- Proof of your residential address
- Your recent photo
What is the Binance futures referral code for Pakistanis?
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 up to 12 months from when your invitee activates the future account.
Furthermore, you’ll also share your commission with the invitees as a kickback incentive. However, the details vary according to your BNB coins balance. Here’s 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, you’ll 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, you’ll still be left with a 20% commission.
In both cases, your referral’s kickback rate will be 10% for the first month after they activate their future account.
Best of all, you don’t 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.
Final Comments!
Trading cryptocurrencies isn’t free, and there’s a small percentage of trading costs associated with every transaction. However, these costs can be high for Pakistani traders who frequently trade large volumes. Fortunately, now Pakistanis can substantially reduce their transaction costs by availing the referral code discounts.
So, if you’re a Pakistani trader looking to jump into the crypto world, create an account using code and start your cryptocurrency trading with minimal fees and excellent bonuses Today!
