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2023 Binance Referral Code: GRYRDBZW (-45% & $700) ID Bonus
- March 10, 2023
- Thomas DeMichele
Best Binance Referral Code 2023: Maximize Your Savings on Trading Fees
In the world of cryptocurrency trading, every opportunity to save on transaction fees is crucial for maximizing your profits. One of the leading cryptocurrency exchanges, Binance, offers its users a chance to do just that by using a referral code.
Use Binance referral code GRYRDBZW to save 20% on trading fees for life. Then save another 25% when you use Binance Coin (BNB) to trade. That means you can save 45% on the already low fees of 0.100% with BNB and the Binance referral ID bonus today!
Whether you’re a beginner looking to explore the cryptocurrency market or a seasoned trader seeking ways to enhance your trading experience, the Binance referral code and BNB discounts are invaluable opportunities. In this comprehensive guide, we will provide step-by-step instructions on everything you need to know about the Binance Referral program, plus we will cover other ways to maximize your savings, like the Binance VIP program and Binance Earn. First, use our code to lock in your lifetime trading fee discount today!
What is the Binance Referral Code?
If you are looking for the best Binance referral code. We have you covered, regardless of which Binance platform you use.
- The Binance referral code is GRYRDBZW. Copy and paste this code into the referral ID section of Binance when you sign up, and you’ll get 20% off trading fees for life. This stacks with other savings, like the 25% discount from using BNB.
- The Binance Futures referral code is HowToReferral. This code will get you 10% off trading fees for your first 30 days. Then get another 10% off for life when you trade with Binance Coin (BNB).
- The Binance US referral code is 53604714. This code will get you a $10 welcome bonus and a chance to earn up to 40%.
- The Binance Mining referral code is ANMMRUCR. This code will get you 20% off fees for life as well.
When you sign up with these codes, you will also qualify for all other bonuses. For example, you can get up to $700 in welcome bonuses when you signup for Binance and Binance Futures (details below).
Binance Global and Binance Futures Referral Code 2023
After signing up, this referral code will save you the maximum amount at Binance and qualify you for the maximum savings at Binance Futures.
| 👉 Binance Referral Code | GRYRDBZW |
| 🍀 Binance Commission | Up to 50% |
| 🕺 Binance Referral Code Savings | Up to 45% with BNB |
| 🎯 Last Verified | March 22, 2023 |
Binance US Referral Code 2023
Use this code if you live in the United States and want to use Binance.
| 👉 Binance.US Referral Code | 53604714 |
| 🍀 Binance.US Savings | $10 + 25% with BNB |
| 🕺 Binance.US Commission | Up to 40% |
| 🎯 Referral Code Last Verified | March 22, 2023 |
Binance Europe, UK, and Canada Referral Code 2023
You can use this code we have made specifically for the UK, Europe, and Canada or the Binance global code above to get the maximum discount.
| 👉 Binance Referral Code | LFNNLIYR |
| 🍀 Binance Commission | Up to 50% |
| 🕺 Binance Referral Code Savings | Up to 45% with BNB |
| 🎯 Last Verified | March 22, 2023 |
Looking to save even more with Binance? Check out our Binance.US referral code review if you live in the US, and Binance Futures referral code review for futures trading. Use Binance Futures referral code HowToReferral and get 20% off trading fees when you use BNB (Binance Coin) to trade. Use Binance.US referral code 53604714 and get up to 40% in trading fee kickbacks and 25% off fees with BNB.
The Ultimate Guide to Saving on Binance Fees
The following steps will ensure you save the maximum amount on Binance Fees when you use the Binance Referral Program.
- Enter the Binance Referral Code: By entering a referral code, you can get a 20% discount on trading fees, saving you money on each trade.
- Use Binance Coin (BNB) to Pay Fees: using Binance Coin (BNB) to pay trading fees will save you an additional 25%. To pay trading fees with BNB, you must have BNB and enable “using BNB to pay for fees (25% discount)” in the account tab.
- Use Volume-Based Discounts: You can get a further discount on trading fees if you trade a certain amount over a rolling 30-day period. For example, trading 1,000,000 BUSD or more or holding 25 BNB or more over a rolling 30-day period will reduce your fees from 0.1000% / 0.1000% to 0.0540% /0.0600%.
- Take Advantage of the Welcome Bonus: You can earn up to $700 when you sign up for Binance and Binance Futures and complete all tasks!
- Use Binance Earn: You can earn passive income on many cryptocurrencies by utilizing different Binance Earn Products. Whether you are providing liquidity, staking ETH, or using a BNB vault, there is often a way to put your crypto to use to earn you a yield on Binance. Learn more about Binance Earn.
- Trade Bitcoin for Free: For a limited time, you can trade Bitcoin for free on Binance after you sign up. So you’ll save even more on Bitcoin fees!
Please note that while the above steps are for Binance, most will work on Binance’s US exchange too!
The best Binance referral code is the one that offers 20% off trading fees for life (a total of 45% with the BNB discount). Other codes may only offer between 0% – 10%. 20% is the maximum kickback that can be offered. Use codes that offer the full discount when you sign up for Binance to lock in your savings!
Program Overview
How to Sign Up and Get Your Binance Referral Code
Below is a step-by-step tutorial for obtaining a Binance referral code ID to share with your friends so you can participate in the Binance ID kickback program. Not only will these steps save you up to 45% in fees, but you’ll also learn how to make up to 50% in kickbacks (or 30% if you share the max amount with invitees like us).
Time needed: 5 Minutes for initial sign-up
ID required: Most government-issued IDs will be adequate
- Start the Binance sign-up process
Use our Binance Referral ID to save 20% in trading fees for life. Clicking the link will automatically bring you to Binance’s official website with the code applied. So there’s no extra work for you, but plenty of added benefits.
- Input your desired Password and Email
Once you land on the Binance sign-up page, you will see the 20% discount is applied, and you can begin to input the desired password and email you want your new Binance account to use. Consider using a password manager as you get more involved in the Cryptocurrency space; the number of needed passwords can really start to climb.
We suggest LastPass for their reliability and great user data monitoring ability, which can help a ton as they will automatically alert you of any company data breaches you have previously signed up for that are learned about (worry not, Binance is still SAFU).
- Navigating to the Referral section of your account
As you can see in the above image, we are pointing to the account icon you will need to click on in order to be presented with the “Referral” option. Once it is displayed on your screen, click on this option. You will then be forwarded to the Binance referral dashboard. This is the area where you will start the process of generating your own referral ID code and link.
- Generating your own referral link
Now that you are on Binance’s referral dashboard, you will see plenty of options. The only one of concern at this moment is the one we have highlighted in our image above. Click the “Generate your link” button to move to the next step.
- Select the percentage discount you want to offer
You are now presented with numerous options highlighted in the image above. These represent what percentage you will receive and what amount your referrers will get for their Binance trading discount. Once you are happy with the amount, you can add a “Note” to this specific code. If you are planning to make multiple referral codes, adding a name to identify them more easily is a great idea and will save you a headache later.
- Sharing your newly generated Binance referral code ID and link
Lastly, you will now see your newly created unique referral code. Congratulations! You can now spread the love with your own personalized referral code discount to anyone you like. Press either of the highlighted buttons shown in the image above, and the contents will be automatically copied to your clipboard for easy sharing. Enjoy!
Don’t forget you’ll need to keep 500 BNB in your account for an average of 30 days to get the full commission on referral links you share. To get the most on your holdings, use Binance Flexible Savings!
Claim $700 in Welcome Bonuses on Binance & Binance Futures
Sign up for Binance and Binance Futures to receive up to $700 in welcome bonuses in addition to the trading fee discount. Binance Futures requires a separate login. Use our code HowToReferral to guarantee your Binance Futures discount when you create your Binance Futures account.
To claim the full bonus, create both accounts and complete the tasks below. Please note a Binance account is required to create a Binance Futures account.
$100 Binance Bonus
To qualify for the $100 Binance Bonus welcome offer, all you have to do is sign up using our referral link and then complete the following tasks:
- Account verification
A 20 USDT trading fee rebate voucher - First deposit worth a minimum of $10 in crypto via P2P/fiat channels/crypto deposit
A 30 USDT trading fee rebate voucher - First trade worth a minimum of $10 in crypto
A 50 USDT trading fee rebate voucher
After signing up, you can get an additional $600 in Welcome Bonuses, as explained in the next section.
Binance Futures $600 Bonus
When you use our referral code, you will also qualify for a $600 Binance Futures welcome bonus. To get the full $600 reward, you must sign up for Binance Futures (code: “HowToReferral“) and complete a set of tasks.
To get the full $600, you must complete all of the following tasks:
- $5 Spot Cashback Voucher
Make a first-time deposit of ≥ $100 within five days of registration - $25 Spot Cashback Voucher
Spot trade of ≥ $1,000 within seven days of registration - $70 Spot Cashback Voucher
Spot trade of ≥ $50,000 within seven days of registration - $50 Futures Cashback Voucher
Futures trade of ≥ $50,000 within seven days of registration - $150 Futures Cashback Voucher
Futures trade of ≥ $1,000,000 within seven days of registration - $300 Futures Cashback Voucher
Futures trade of ≥ $5,000,000 within seven days of registration
Remember to claim your rewards, you must open an account, verify your identity, and complete all the tasks within the time limit.
Enjoy Zero-Fee Bitcoin Trading at Binance
Binance introduced zero-fee Bitcoin trading for BTC spot trading pairs on 2022-07-08 14:00 (UTC).
Effective from 2023-03-22 00:00 (UTC) until further notice, Binance updated its zero-fee Bitcoin trading program and BUSD zero maker fee promotion, retaining free trading exclusively for TUSD pairs. For current rules, visit the official Updates on Zero-Fee Bitcoin Trading & BUSD Zero Maker Fee Promotion page.
Keep in mind regular trading fees apply to all non-TUSD pairs. That means you can still get the discount applied by using the code, using BNB, or increasing your VIP level. See more details on Binance’s fee structure further down the page.
How Does the Binance Referral ID Kickback Bonus Program Work?
Binance’s referral program gives you the ability to share commissions with your friends. Share your Binance referral ID, and whenever anyone signs up with your referral code, they get a trading fee discount for life, and you get a portion of their trading fees as a “referral ID kickback bonus” for life.
Everyone gets at least 20% commission to split with friends (you can choose your kickback amount). Meanwhile, those who hold 500 BNB or more get a 40% commission, and once you meet certain criteria, you’ll be able to apply for the Binance Affiliate Program and get up to 50% commission (see more details below).
As you can see, the system is set up to incentivize the use of BNB. As you’ll have to have at least 500 BNB in your account to get the 40% commission, and you’ll have to use BNB to trade if you want to save an additional 25% on fees on top of the 20% offered by the code to get the full 45% off.
With that said, it is notable that once you reach the affiliate level, your BNB requirement is waived. So, influencers and media do have the option to earn the full 50% commission without spending a lot on BNB upfront (and of course, non-influencers with enough invitees have the ability to up commission and stop holding BNB if they choose).
Binance’s cryptocurrency token Binance Coin (BNB) “powers the Binance ecosystem.” BNB’s use cases include lowering trading fees on Binance, boosting referral commissions, paying transaction costs on Binance Smart Chain, and more.
Binance Referral & Affiliate Programs Commission Structure
Binance’s commission structure is based on your average daily balance of BNB (see details below) and how much of your commission you want to share with your friends.
- If your daily average BNB account balance is less than 500 BNB, your base commission is 20%, and you can choose to share 0%, 5%, or 10% with the people you invite.
- If your daily average BNB account balance is less than 500 BNB, your base commission is 40%, and you can choose to share 0%, 5%, 10%, 15%, or 20% with the people you invite.
If you join the Binance Affiliate program, the BNB minimum balance is waived, your base commission is 40% for less than 500 referred users and 50% for more than 500 referred users, and you can choose to share 0%, 5%, 10%, 15%, or 20% with people you invite.
Check out the Binance Commission Structure tables below for a quick and easy way to see commissions and potential discounts at a glance.
| BNB Amount | Base Referral Rate | Commission Share |
|---|---|---|
| Less than 500 BNB | 20% | 0%, 5% or 10% |
| 500 BNB or more | 40% | 0%, 5% or 10%, 15%, or 20% |
| Category | # of total referred users | % of commission | Note |
| Standard | Less than 50 | 40% | BNB holding requirement waived |
| More than 50 | 50% | BNB holding requirement waived | |
| Media | – | Instant 50% | BNB holding requirement waived |
How to Join the Binance Affiliate Program
Anyone with a Binance account can participate in the referral program, but you have to apply to join the Binance Affiliate program.
The first step to joining the affiliate program is creating a Binance account, so if you haven’t done that already, create a Binance account first. Once that is done, you’ll need to submit your application by filling out the official Binance Affiliate application.
Once you are approved, your commission will be increased up to 40%. From there, you can boost it further by gaining more invitees.
Binance Referral Program Rules
To qualify for the full referral rate, you must have an average of 500 BNB over a 30-day period. Dropping below the threshold at any point can impact your rate. Given this, you’ll always want to maintain a 500 BNB balance if you offer your own referral code and aren’t doing the Affiliate program to waive the requirement.
If your daily average BNB balance is less than 500 BNB, your base referral rate will be reduced from 40% to 20%. At this time, the percentage allotted to people you refer will be given priority, and the discount rate for others will remain unchanged. For example, if your split is 20% / 20%, and you drop below 500 BNB, your commission goes to 0%, and the discount on trading fees stays at 20%.
Please be aware, Binance may adjust the proportion of referrals at any point and reserves the right to adjust the rules of the referral program. Binance does not allow any user to self-invite through multiple accounts. Once such activity has been detected, all referrals will be canceled, and all referral commission kickbacks for the invitee’s accounts will be canceled. See these guidelines for canceling a Binance referral.
See detailed Daily average BNB Balance Calculation Rules for more information on how Binance calculates commissions.
Binance Affiliate Program Rules
The Binance Affiliate Program has different rules than the Binance Referral Program. So, if you start as an affiliate or upgrade to an affiliate, make sure to keep the following rules in mind as well.
To qualify for the Binance Affiliate Program, you have to meet the following criteria:
- A minimum of 50 users must have signed up with your Binance referral link
- At least 10 percent of the affiliate’s referral sign-ups must have made a minimum of one trade.
- The affiliate should also regularly share all relevant Binance-related content with their followers and communities.
If an affiliate does not meet the first two conditions, the affiliate’s referrals need to reach a quarterly minimum trading volume equivalent to or exceeding at least 50 BTC.
Assuming you meet the criteria, your base BNB holding requirement is waived, and you retain at least 40% commission. You will then be able to earn 50% commission if you sign up over 50 users using your code. Keep in mind members of the media can skip these steps and go directly to affiliate status.
See Binance Affiliate Program Rules for more information on what it takes to join the Affiliate program.
You may be able to become a Binance affiliate if you are part of the media. Media can include influencers and bloggers. So keep in mind even if you don’t meet the referral thresholds or BNB thresholds, you may be able to raise your commission by contacting Binance.
Binance Referral Program Review
Binance’s referral program is extremely generous, not just for the invitee but importantly for the referrer as well. Pair that with Binance’s reputation and attractive fee structure, and Binance is a win for everyone. With that said, making sure you have 500 BNB in your account as a referrer is a high barrier to entry for most people. Sure, you could skip the 500 BNB step if you qualify for the affiliate program. However, being media, an influencer, or getting 500 sign-ups is… also a high barrier to entry for most people.
Even though referrers and invitees are both basically forced to use BNB or be internet famous to get the full benefit of the referral program, we are big fans of the Binance referral program (especially compared to the competition). Also, to be crystal clear, even the base-level 20% kickback to split blows most of the competition out-of-the water, so again, we are fans. We just wish the barrier to entry for maximum savings and earnings was a little lower. Regardless of our gripes, for everything it gets right, Binance’s referral program easily earns a perfect score with 5-out-of-5 stars.
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Platform Documentation
Platform Doc.
About Binance
Binance is one of the top cryptocurrency exchanges regarding liquidity, fees, order types, and selection. Binance has been in operation since 2017, when it was founded by current CEO Changpeng Zhao AKA “CZ” as he is known in the space. It rose to prominence in the 2017 crypto bull run, becoming the largest crypto exchange globally in terms of trading volume in 2018.
Binance has since consistently been a favorite of cryptocurrency traders worldwide as they have continued to support a wide array of trading pairs, order types, services, and contract types while retaining the trust and support of their users. They have even expanded their offerings to exchanges worldwide and to the Binance Smart Chain, which is an Ethereum competitor with its own array of tokens.
Check out Binance.com’s official Twitter and for a real sense of the people behind Binance, or take a look at Binance founder and CEO Changpeng Zhao’s Twitter account too.
Binance Academy
Want to learn more about Binance, blockchain, or crypto in general? Check out Binance Academy.
The aim of Binance Academy is to make the complex world of blockchain and cryptocurrencies more accessible and understandable to everyone. The platform offers a wide range of educational resources, such as articles, videos, courses, and interactive tutorials. These resources cover a variety of topics, including blockchain technology, Bitcoin, Ethereum, trading strategies, and security measures.
One of the key features of Binance Academy is its user-friendly interface. The platform is designed to be easy to navigate, with a simple and intuitive layout. Users can browse the content by category, level of difficulty, or search for specific topics.
Binance Academy is also constantly updated with new content, reflecting the rapidly evolving nature of the cryptocurrency industry. The platform’s expert writers, educators, and industry insiders ensure that the content is accurate, up-to-date, and relevant.
One of the things we love most about Binance Academy is that they go in-depth on even the latest topics, so you’ll find not only basics like how to use different order types but cutting-edge topics like how to use the latest DEX. They also go far beyond Binance and will teach you all about the crypto universe. We strongly suggest keeping an eye on Binance Academy as you learn!
Binance Liquidity
Binance, one of the world’s largest cryptocurrency exchanges, has earned a reputation for its relatively high liquidity, which has attracted a growing number of traders and investors. This increased popularity has further boosted the exchange’s liquidity, enabling traders and investors to buy or sell their preferred cryptocurrencies swiftly and at a fair market price, minimizing slippage. High liquidity allows for efficient trade execution without significant concerns about price fluctuations or delays.
However, as with any other cryptocurrency exchange, less popular trading pairs on Binance might suffer from lower liquidity, making them less suitable for large trades. Nonetheless, low-liquidity trading pairs can offer benefits depending on one’s trading objectives.
It is also crucial to recognize that cryptocurrencies can be less liquid than other asset types, such as stocks or bonds. As a relatively new asset class, cryptocurrencies are subject to high volatility, making them prone to substantial price swings within short timeframes. This volatility can complicate finding a buyer or seller at a desired price, particularly for less popular cryptocurrencies.
Binance Trading Fees (Updated 2023)
Binance has an aggressive fee schedule compared to other exchanges. Especially when paired with BNB and the referral discounts offered on this page, Binance fees are cheap (perhaps the cheapest in the industry with the discounts applied).
Add onto the above points that Binance offers volume-based discounts via their VIP program as well, and you get some serious discounts. Because of this, Binance has become known to set the industry standard for fees and still currently beats most of the competition to date. As seen below in the table showcasing Binance’s current 2023 fee structure. Please note the crossed-off figures below represent traditional fees. Binance is currently offering discounted fees to large BNB holders and high-volume traders.
Binance Fee Structure (Updated 2023)
The following table shows Binance’s fee structure as of 2023. This table helps illustrate how the trading fee discount from the referral code and the discount from trading with BNB impact your fees at each VIP level.
| Level | 30d Trade Volume (BUSD) | and/or | BNB Balance | Maker / Taker | Maker / Taker BNB 25% off |
Maker / Taker + BNB 25% off + 20% Discount |
|---|---|---|---|---|---|---|
| Regular User | < 1,000,000 BUSD | or | ≥ 0 BNB | 0.1000% / 0.1000% | 0.0750% / 0.0750% | 0.0600% /0.0600% |
| VIP 1 | ≥ 1,000,000 BUSD | and | ≥ 25 BNB | 0.0900% / 0.1000% | 0.0675% / 0.0750% | 0.0540% /0.0600% |
| VIP 2 | ≥ 5,000,000 BUSD | and | ≥ 100 BNB | 0.0800% / 0.1000% | 0.0600% / 0.0750% | 0.0480% /0.0600% |
| VIP 3 | ≥ 20,000,000 BUSD | and | ≥ 250 BNB | 0.0700% / 0.1000% | 0.0525% / 0.0750% | 0.0600% /0.0600% |
| VIP 4 | ≥ 100,000,000 BUSD | and | ≥ 500 BNB | 0.0200% / 0.0400% |
0.0150% / 0.0300% |
0.0120% /0.0240% |
| VIP 5 | ≥ 150,000,000 BUSD | and | ≥ 1,000 BNB | 0.0200% / 0.0400% |
0.0150% / 0.0300% |
0.0120% /0.0240% |
| VIP 6 | ≥ 400,000,000 BUSD | and | ≥ 1,750 BNB | 0.0200% / 0.0400% |
0.0150% / 0.0300% |
0.0120% /0.0240% |
| VIP 7 | ≥ 800,000,000 BUSD | and | ≥ 3,000 BNB | 0.0200% / 0.0400% |
0.0150% / 0.0300% |
0.0120% /0.0240% |
| VIP 8 | ≥ 2,000,000,000 BUSD | and | ≥ 4,500 BNB | 0.0200% / 0.0400% |
0.0150% / 0.0300% |
0.0120% /0.0240% |
| VIP 9 | ≥ 4,000,000,000 BUSD | and | ≥ 5,500 BNB | 0.0200% / 0.0400% | 0.0150% / 0.0300% | 0.0120% /0.0240% |
For more information, go see the official Binance Fee Structure.
Binance Order Types
Binance is an industry-leading cryptocurrency exchange offering traders a wide selection of order types to maximize their trading potential. With the different varieties of order types available, Binance has something for traders at every level, from beginner to pro.
Limit Order
The most basic of the Binance order types is the limit order. This type of order ensures that the trader buys or sells a specific asset at a predetermined price. If the market price doesn’t drop to the predetermined price of the limit order, then no trade will be made.
Market Order
A market order is slightly different and is one of the most commonly used types of orders. In a market order, the trader tells the exchange to immediately buy or sell a particular asset at the most available current market price. This makes it an excellent choice for those looking to execute trades as quickly and efficiently as possible from a slippage standpoint.
Stop-Market Order
Another popular order type is the stop-market order, which is a variation of the market order and can be used to protect traders against losses. This type of order is placed when a trader sets a predetermined price which, once reached, triggers the exchange to automatically execute a buy or sell order at market price regardless of what that ends up being.
Stop-Limit Order
However, the stop-limit order differs slightly from both the market and stop-market orders. By using the stop-limit order, the trader places a buy or sell order at the predetermined target price to be executed if and when the target price is met. After being triggered, it is treated as a normal limit order, only filling it entirely if the market has enough liquidity going in that direction.
Trailing Stop Order
The trailing stop order is another powerful tool for traders, as it can help them lock in profits when prices begin to reverse from a favorable position. The trailing stop order executes in a similar vein to the stop-market and stop-limit orders, except for the fact that the trader sets a predetermined “trailing” value (which is usually a percentage amount). This percentage value will be offset from your entry price, and as the price crosses it, an inverse order of your current position will be executed to close your position.
OCO Order
Finally, the one-cancels-the-other (OCO) order type allows traders to place two orders at once, either at two different prices or two different types. If either order is executed, the other is automatically canceled. This is an essential tool for attempting to lock in profits while also having a Stop loss order in place to limit risk exposure.
All of these order types are available through the Binance exchange and can be customized to suit the trader’s individual needs, whether you are a beginner or an experienced professional. Additionally, Binance offers contract-specific settings like increased margin, helping traders strategize their trades even more to yield the maximum profits. For more information, check out their guide to Binance order types.
Binance Product and Coin Selection
Binance offers a wide range of coins and product types. Not only do they offer spot trading, they also offer margin and other unique products that allow you to save and earn.
Binance supports the trading of more than 150 coins and even more contracts and base pairs. While they don’t have every trading pair in cryptocurrency, they have almost all the top coins and a wide selection of alt coins to choose from. Consider the additional selection on Binance Smart Chain along with that, and you have one of the largest selections of coins and other products of any crypto platform.
Beyond just coin selection, Binance has a range of derivative products. In fact, Binance even has its own futures exchange. You can trade futures contracts directly on Binance Futures, or you can trade options directly on Binance. Whatever your crypto derivative needs, Binance has you covered.
Binance offers a wide range of products and features, including the following:
- Spot Trading: This is the most basic form of trading where you buy and sell cryptocurrencies for their current market value.
- Margin Trading: Margin trading allows you to trade cryptocurrencies with borrowed funds, which means you can amplify your trading profits (or losses).
- Futures Trading: Futures trading is a way to trade cryptocurrencies at a predetermined price at a later date.
- P2P Trading: Peer-to-peer trading allows you to buy and sell cryptocurrencies directly with other users on the Binance platform, without the need for an intermediary.
- OTC Trading: Over-the-counter trading allows for large trades of cryptocurrencies to be conducted outside of the regular exchange markets.
- Leveraged Tokens: Leveraged tokens are a type of cryptocurrency asset that provides leverage without the need for margin trading.
- Pools: Binance offers liquidity pools for its users to provide liquidity to certain trading pairs.
- Swaps: Crypto swaps are a way to exchange one cryptocurrency for another without having to go through the process of selling and buying on an exchange.
- Loans: Binance offers cryptocurrency loans where you can borrow funds against your cryptocurrency holdings.
- Credit Cards: Binance offers its users the ability to purchase cryptocurrencies using credit cards.
- Opportunities to Earn: Binance offers several opportunities for its users to earn passive income through savings accounts, asset management, launch pools, and more. Make sure to check out the full Binance Earn section in the main Binance navigation for all their Earn products.
Binance has its own DeFi ecosystem and blockchain, Binance Chain. Once you have a Binance account, you can grab some BNB and then use it to trade on the Binance chain and participate in DeFi. There are lots of apps to check out and coins that buy that don’t trade on Binance. Just keep in mind that these products don’t have all the on-exchange protections due to being more decentralized.
Binance Security & Integrity
Binance maintained a solid reputation over the years despite a notable security breach back in 2019. To better understand how they maintained their reputation, it might be useful to closely examine Binance’s $40 million hack from back in May 2019.
The Binance hack, described by the company as a “large-scale security breach,” resulted in user passwords, two-factor tokens, and a whopping 7,000 Bitcoin (worth $40 million at the time) being stolen by hackers. Luckily, Binance keeps an insurance fund, called a “Secure Asset Fund,” which was used to reimburse its users.
These events prove that a hack is possible, even for one of the biggest and most well-secured exchanges. However, Binance has shown they have a plan to protect customers even in a major hack.
With that in mind, your best protection on Binance, like any exchange, will be appropriately securing your account and using a non-exchange wallet for storing coins you aren’t actively trading or staking. In this respect, it is wise to use two-factor authentication to secure your account, to double-check you are visiting the correct website when logging in, and generally follow best practices for securing your account.
Also, as noted, it can be wise to keep coins off-exchange. One solution for this is to use Trust Wallet. Trust wallet lets you control your keys and works as a good non-custodial solution for your coins. If you don’t go that direction, you can also consider a cold-storage wallet like Ledger.
If you are doing P2P trading, you’ll want to take some extra safety precautions to ensure the other party doesn’t try to cheat you. Check out Binance’s tips for protecting yourself on Binance P2P.
Binance Accepted Payment Methods
Binance accepts a wide array of payment methods, including bank transfers, debit or credit cards, cash, and of course, crypto. Binance even has unique solutions for P2P payments, letting you add multiple payment sources.
In general, this means you have a number of different solutions for onboarding from your country’s fiat currency to cryptocurrency using Binance. Likewise, you have nearly the same amount of options when it comes time to cash out. To see the full breadth of options for your country, you’ll need to create your account and get verified.
Binance Supported Countries
Binance Global supports most countries; where they don’t, they typically offer a local Binance-branded solution. For example, Binance.US. With that in mind, we don’t have a full list of Binance’s supported countries, as one is not published. However, if you do find your country is not supported, make sure to look for a localized version of Binance in your region.
With that said, some countries that are supported will have unique limitations. For example, some countries are not eligible for the “Pay with Bank Card” Feature. With all of that said, you’ll know if your country is supported and what solutions you have when you go to the site, as if your country isn’t supported, your IP will trigger a pop-up message directing you which alternative Binance exchange to use (if any).
Related Platforms
Binance has acquired or partnered with a number of platforms to help better serve a diverse set of needs across the world. These platforms include:
- WazirX, India’s largest crypto exchange, was acquired by Binance in November 2019 to help Binance provide crypto exchange services to India.
- Tokocrypto, Indonesia’s fastest growing digital asset exchange in trading volumes and user registrations since 2018. Tokocrypto was integrated with Binance in 2021 when Tokocrypto expanded to using the Binance smart chain and launching their BSC token TKO.
- Binance TR, Binance’s exchange for the Turkish market which has been in operation since 2020.
- JEX, a Binance-run options and futures exchange Binance acquired in 2019. Was closed down in 2021.
- BPLAY, a web-based interactive gaming platform that allows people to use BNB and other tokens.
Article Conclusion
Binance has established itself as a leading player in the world of cryptocurrency exchanges, offering a variety of benefits for both new and experienced traders. Its referral and affiliate programs are exceptional, allowing users to save on trading fees while also earning passive income by sharing their own referral code with friends and acquaintances.
Moreover, Binance Coin (BNB) has consistently demonstrated its value as a strong and reliable cryptocurrency, making it an attractive choice for traders and investors alike. The exchange’s popularity and extensive range of available cryptocurrencies further solidify Binance as a top choice for users seeking a comprehensive trading platform.
Ultimately, we highly recommend taking advantage of the Binance referral code when signing up, as well as sharing your own unique code with others. This approach not only helps to reduce fees and increase potential earnings but also fosters a thriving community of traders who can benefit from one another’s knowledge and experience. By capitalizing on the benefits provided by Binance’s referral and affiliate programs, users can optimize their trading experience and maximize their potential profits in the exciting and ever-evolving world of cryptocurrency.
Binance FAQs
Binance is one of the top exchanges. Even in the past, when they were hacked, all user funds remained safe due to the large insurance fund held by Binance. If you find yourself wondering if you can trust Binance with your funds, even after realizing it is one of the highest volume and most liquid crypto exchanges on earth, you may find extra comfort in checking their Twitter.
Your Binance Referral Code is in your ‘Account’. Look for ‘My referral ID’. In this section, you’ll be able to create your referral code, adjust your kickback amount, and more.
Referrals are calculated in real-time and paid every hour. All referrals are paid in the coin that is traded. So if someone trades Dogecoin, you’ll get your kickback bonus as Dogecoin in your Binance Dogecoin wallet.
To apply the Binance trading fee discount, you must sign up using a referral code that offers a discount. Referral codes can offer up to 20%, although many offer less. To get the full 20% make sure you use a code like the one offered on our site.
You get between a 0% – 20% discount depending on how much the referrer shared with you. We share the full 20% for example, but not everyone will choose to or be able to.
When you click the referral link or input the code you’ll see the discount displayed on the signup page.
You can’t lose your discount regardless of what the referrer does. However, Binance can change the terms of the program at any time.
There is no limit to how many people a single account can sign up. Remember, you can actually boost earnings if you invite more people, so invitations are always a boon and never a drawback as long as you follow the rules noted above.
The payout is based on trades done by those who sign up using your link. BNB-based and volume-based discounts are applied first and the discount from the referral code is applied after that.
The discount lasts forever. Once you lock in savings, you’ll enjoy those savings for life.
Increase commission by holding over 500 BNB, or by qualifying for the Binance Affiliate Program.
The daily average is the average amount of BNB you hold each day. What time Binance takes the snapshot is random, so to be on the safe side, always hold at least 500 BNB in your account for the full commission amount.
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