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- Binance referral codes are referrer or friend codes that benefit the referrer, the referee, and the exchange.
- Joining with a referral code allows you to reduce your futures trading fees by 10%, and Binance gains automatic advertising effects.
- However, creating multiple accounts with your own account to obtain fees can lead to account confiscation if detected, so be cautious.
Referral can be considered as a referrer or a friend code. This system is a win-win structure for everyone involved, including the referrer, the referred, and Binance exchange. In other words, it can be seen as one of Binance's marketing strategies.
Why join using a referral code??
Many people mistakenly believe that if they join through a referral and engage in futures trading, leading to liquidation, they will receive a portion of the liquidated funds. However, this is a false "rumor".
If you join through a referral, you receive a portion of the trading fees generated from futures trading (buying/selling).
▣ If you do not join through a referral, Binance keeps all trading fees generated from futures trading. You will have to pay a total of 0.04% fee (0.02% for buying at a limit order and 0.02% for selling at a limit order). This benefits only the exchange.
▣ However, if you join through a referral and trade, you can benefit from a 10% fee discount. This is beneficial to those who join through referrals. The system is designed to return a portion of the 10% fee from futures trading, as Binance automatically benefits from someone advertising for them. Therefore, joining is equivalent to simultaneously reducing Binance's fees and bringing in a new customer. In essence, I advertise/promote on behalf of Binance, and for Binance, this acts as an automatic advertising effect.
However, these days, there's a method called self-referral, where individuals create multiple accounts to receive fees. However, each account requires KYC verification, and if Binance detects it, your funds may be confiscated, so you should never do this.
Binance registration link guide! (Spot code: 19398998 / Futures code: 953714119)
For novice investors who are entering the world of overseas exchanges
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The link below is the Binance registration link. Please be sure to register through the link to receive fee discounts.
