*This post may contain affiliate links that help keep the lights on, find more info in our full disclaimer.
How To ⇒ Binance Mining Pool Referral Sign Up 2021
Binance Pool Referral Code
Looking for a Binance Pool referral code? Save 20% on trading fees for life when you sign up for Binance and create a Binance Pool mining account. Use code ANMMRUCR to lock in your discount now!
This article will cover everything you need to know to get the most out of your Binance Pool account, including how to save on mining fees with the Binance Mining VIP Program and how to earn up to 30% commission in mining fees when you share your Binance Pool referral code. First, if you haven’t already, use the code below to get started.
|Binance Pool Referral Code||ANMMRUCR|
|Binance Pool Commission||Up to 30%|
|Binance Pool Referral Code Savings||20% (see article for details)|
|Binance Pool Referral Code Last Verified||September 21, 2021|
Referral Code Details
Binance offers both a referral code for their main Binance account and an exclusive Binance Pool referral code for a Binance mining account. The main account code offers a discount of 20% for life on all trades, whereas the Binance Pool code offers nothing unless Binance Pool is running a special promotional referral event.
Since this is the case, and since you need a Binance account to create a Binance Pool account anyway, we have given you our main Binance code above.
With that said, if you need a Binance Pool referral code specfiically, you can instead choose to use our exclusive Binance Pool referral code WDQQB488. This code will allow you take advantage of any current Binance Mining Pool promotion (feel free to check current Binance Pool promotions, like the featured referral event featured below, to help you decide which code to use).
For a limited time Venezuelan users can enjoy 50% referral bonuses and a chance to share 10,000 BUSD just for inviting friends to Binance Pool. See more Binance Pool referral event information.
How the Binance Pool Referral Program Works
The Binance Pool referral program lets you invite your friends to Binance Pool and receive up to 30% of their mining fees as commission. This generally doesn’t have any benefit to the invitee. However, during special promotional events, the referrer and/or invitee may get special bonuses.
With that in mind, you can share your main Binance referral code with people to give them access to Binance Pool since the main account is needed to create a Binance Pool account anyway.
The main account code will still give the referrer mining commission, but the invitee will also enjoy up to a 20% discount on trading fees (depending on how much the referrer chooses to share). This method is pretty much better for everyone outside of specific times when there are promotional events, so it is for sure our suggestion and what we do on this page as well!
Regardless of which code is shared, the invitee can save even more by using BNB to trade and trading volume on Binance, and the referrer can get access to bigger and better commissions by holding 500 BNB or more or joining the referral program.
You can learn more about the main account referral program in our Binance Referral Program Review.
Binance Pool Referral Program Review
The Binance Pool referral program is an odd one. On the one hand, we want to give it five stars because of how highly we regard Binance as an exchange and the traditional Binance referral program for the main account. On the other hand, the Binance Pool code specifically lacks a benefit of any kind for users outside of promotional periods (for example, a discount on mining fees), and it doesn’t even use Binance Pool branding. The code simply drops the user off at the main Binance page and, with no clear benefit, and worse, blocks them from actually getting the 20% discount the main account code offers.
That all makes the process of using the Binance Pool code confusing for the user, and it makes the process of promoting and explaining things to invitees more complicated than it needs to be!
The reality is, it is easier and better for both parties in most cases to suggest people create a Binance account with the main Binance referral code and then sign up for Binance Pool after.
Due to all the reasons mentioned above, we are only giving Binance Pool’s referral program a 2-out-of-5 star rating. The program is functional but ultimately feels overly complex and unnecessary, especially when compared to the industry-leading Binance referral program.
What is Binance Pool?
Binance Pool is a Binance product that let’s you create a Binance Mining account. A Binance Mining account is a subaccount of your main Binance account that allows you to connect your mining hardware to Binance’s mining pools. You can use that account to mine SHA256 chains like BTC, BCH, and BSV, or Ethash for ETH.
The SHA256 pool specifically has a Smart Pool option. The Smart pool enables you to get a higher profit than you usually would mining a single chain by auto-switching your hash rate to mine different currencies with the same algorithm (BTC, BCH, and BSV).
Otherwise, Binance’s mining pool works like any other pool, but instead of having to send earnings to a cryptocurrency exchange to cash out, you can transfer your earnings to your main Binance account for free and cash out that way.
Did you know you can connect Nicehash to Binance Pool? Nicehash and other hashrate marketplaces allow you to buy and sell the computational power of mining devices. Buyers can submit either ETH hashrate or SHA-256 hash rate to Binance Pool to be rewarded. Find out more on how to connect Nicehash to Binance Pool.
How to Mine Crypto With Binance Pool
In this section, we will show you how to use Binance Pool to create a Binance Mining Account and start mining cryptocurrency:
- Prepare your Mining Equipment
Get your mining equipment ready. This includes a miner, miner power supply, network cables, and a desktop computer for miner management.
- Create a Binance Account
Binance Pool requires a Binance account to use. So, if you don’t have a Binance account already, create one using referral code WDQQB488.
- Create a Binance Mining Account
Once your Binance account is set up, click “Binance Pool” under the “Finance” tab at the top of Binance (or go directly to https://pool.binance.com/.
On that screen, on the right-hand side of the page, you will see a button that says “Mining account” below the header image. Click this, and you’ll be prompted to create an account. Give your account a worker name to help you keep track of it (this is useful if you plan to run more than one miner, as you’ll create a unique account for each).
- Add Additional Binance Mining Accounts
After setting up your first mining account, you can add more accounts (up to 3,000 total). To do this, hover over the drop-down in the top right corner below the header image with your account nickname and select “account management”. On this screen, you can add additional mining accounts.
- Start Mining
Before you can get started mining, you’ll have to connect your miners to Binance Pool. This process involves connecting your PC and mining equipment to the same Local Area Network, setting the correct mining URLs, and configuring your workers.
Please be aware. It can take up to 10 minutes before your miners will be connected to pool workers after updating your settings. You can find all the information needed under the “workers” tab, including step-by-step directions. For more information on mining Binance Pool FAQ. Also, please be aware, the processes for setting up your SHA256 and Ethash miners have significant differences, so don’t forget to check the documentation for the miner you are setting up.
What is Binance Pool Savings?
Binance Pool Savings is a wealth management service for Binance Miners. It is a passive income instrument like the products on Binance Earn, but it is specifically for miners and has some unique rules.
For example, unlike Earn products, only income from mining is applicable for Pool Savings accounts. Also, although funds can be removed at any time, they cannot be added again once removed. Lastly, interest is accrued each day the funds are left in the pool, so you’ll see a constant passive income as long as your funds remain in your Binance Pool Savings account.
Binance Pool Fees & Binance Pool VIP Program
The Binance Pool fee rate is 2.5% for the SHA256 pool and 0.50% for the Ethash pool. You can, however, lower these fees by joining the VIP program.
To join the VIP program, you must have a high enough hash rate. Not only does the VIP program lower your fees, but it can also get you access to independent lines (nodes), which are stable and hidden to prevent attacks and ensure a consistent income.
Applications for the VIP program are approved only for users who’ve reached a BTC hashrate of 40PH/s and/or ETH hashrate of 10GH/s. To apply, sign in to your Binance Pool account, scroll down to “Operation Service”, and then send your VIP Application at firstname.lastname@example.org
Below is a list of allBinance Pool VIP benefits according to Binance:
- Mining pool benefits: low rates, access to Binance Pool Savings, risk-free mining, high earnings, independent nodes, and other benefits.
- Trading benefits: spot trading, futures trading, margin borrowing, etc., low-rate fees, and interest for key customers.
- Ecosystem benefits: priority benefits throughout the entire Binance ecosystem, at industry seminars, etc.
- Service benefits: exclusive fast track support tickets, one-on-one connection with key account managers, and VIP quotes for block trading (OTC).
With those benefits in mind, the table below features the necessary hashrate to gain each VIP level. There are 9 VIP levels in all, and users who become VIP clients also get the VIP benefits of Binance’s main exchange.
|Mining pool VIP level|
|Mining pool rank||BTC Hashrate(PH/s)||ETH Hashrate(GH/s)||VIP level on Binance Exchange|
|VIP level on the exchange||Spot trading volume (BTC)||BNB holdings||Futures trading volume (BTC)|
Binance Pool Referral Program Summary
Binance Pool is a product we love. Mining on your own and finding the right pool is a pretty complicated process full of big decisions. Then when it comes time to cash out, you end up needing to find an exchange anyway. Binance Pool has competitive fees, and the discount on Trading Fees only helps to sweeten the deal.
We simply love the product. The referral program, on the other hand, is somewhat of a letdown. We wish the code offered a discount on mining fees or some other benefit. So we can’t really give rave reviews on that aspect, but otherwise, we find little to complain about when it comes to the Binance brand or their mining platform.
Common Questions and FAQs
There is no referral code to lower mining fees on Binance or benefit your mining directly. This is why we offer the main account code for 20% off.
Luckily, however, Binance’s mining pool fees are already competitive. Put it all together with Binance’s already low trading fees, and you have one of the cheapest methods of going between crypto and dollars to cash out mining profits.
You can mine BTC, BCH, BSV, and ETH.
You will have a dedicated Binance Mining Account wallet. This wallet will be created when you create your Binance Mining Account.
It is when miners join forces to mine blockchains. For example, with Bitcoin, the amount of computing power needed to mine blocks is very high. By joining in pools, groups of people can pool enough hash power to compete with large mining operations.
A worker is a name for a mining device. This helps you keep track of how productive each miner is and if anything is going wrong. It also helps the pool keep track of what each device is contributing to the pool.
Binance Pool supports WhatsMiner, Antminer, Avalon Miner, and Innosilicon miner for SHA256 mining and ASIC miners, GPU Miners, and GPU (NVIDIA or AMD, graphics card memory no less than 8G) for ETH mining.
You will automatically be connected to the nearest node when you register your miner.
A watcher link is a read-only mode that lets you monitor a miner without logging into your account.
Binance Pool earnings are settled each day between 00:00 to 04:00 UTC and credited before 10:00 UTC.
There is no payment threshold for mining earnings on Binance Pool.
“Luck Value” is a measure of the actual workload compared to the difficulty of mining a block presented as a ratio. The higher the luck value, the higher your earnings for a given block.
Rejection rate is a measure of invalid submissions.