What is a Binance referral program, and what does it cover for the Binance blockchain network and its users? Can Binance be further expanded by its referral program? We review this article.
Binance Network
Binance is one of the largest blockchain distributed networks in the world, operating with BNB cryptocurrency. More than 6 million users in 180 countries worldwide use this blockchain network daily and make transactions.
In 2017, Binance was established as a crypto-to-crypto exchange network. About a year later, in 2018, Binance launched support for Fiat currencies in this network. Binance currently trades more than 100 coins, including Bitcoin, Ethereum, LiteCoin, Dogecoin, Cardano, Ripple, and more. BNB digital currency is used to pay various costs in this network.
If you are looking for online digital currency exchange with the lowest transaction costs, Binance is the best option. The network accounts for only 0.1% of the total transaction as transaction costs. You can even make free transactions through debit and credit cards, bank transfers and SEPA, and even with BNB coins.
Binance Referral Program
Binance is one of the newest and most up-to-date blockchain systems in the world. But every start-up needs to be introduced and seen. The company’s developers believe that the best way to expand the network is the Binance Referral program. But how does this program work?
Binance referral system rewards both new and old users. Through the referral structure, you can receive a commission for each user invited and registered in Binance. Each time a referral is registered, you will receive a reward for each transaction that a person makes.
By default, this bonus is equal to 20% of each transaction. You can even share 5 to 10 percent of this cost with your referral. If your BNB balance in the Binance exchange is more than 500 per day, the referral commission rate will reach 40%, and you can give 40% of it to your referral.
Is the Binance Referral program working correctly? The answer is yes. This system was created precisely from the very beginning of the launch of Binance Exchange and gives most of its users the benefits of the macro commission.
At one point, Binance decided to increase his referral commission to 50 percent. Imagine how the traders of this system received many user invitations. This method is one of the best indirect advertising methods for a virtual network, and Binance also used this method well.
Since 2018, the transaction commission in Binance has returned to the 20% and has remained at that rate until now.
Note that if you keep 500 BNBs in your account daily, the transaction commission percentage will reach 40. Whenever your referral user makes a transaction or purchase or transaction, Binance will calculate the commission for you.
How Binance Referral works
If you also want to use the Binance Referral system, get started and activate your referral link through the following steps.
Registration
You must first log in to the Binance website and register. Login through the registration link of the Binance website and complete the registration process.
Keep in mind that you must do this registration from the mentioned link from the beginning because without registering with the referral link and with regular registration, you cannot invite the referral yourself and receive a commission from them.
Complete registration information
Enter your user information through the registration page. You will be asked for a strong password. Try to create a password by combining uppercase and lowercase letters with numbers.
You must check Binance’s Terms of Service check box when you have completed the form. Then check all the items in the state and then select create an account. An email containing a Binance activation link will be sent to you. You must open your email and click on this link to confirm your account.
Build a referral link
Once your registration is complete, log in to your account and go to the User Menu section at the top right. Click on the Referral option and go to the referral program page. In this section, select the Generate your link option.
In this section, different options of transaction commission amount are presented to you. You can choose any of them depending on your activity in the Binance network. Each percentage indicates how much commission you and your referral will receive after your referral user makes the transaction.
Link Sharing
From now on, you can use the referral link to invite your other friends who are not registered in Binance to this website so that they can also register, and you can receive profit and commission from each of their transactions.
Conclusion
Each referral program allows a network to do indirect marketing. Network users will become marketers of that system themselves. In this case, you can get more users exponentially.
The Binance Referral system works the same way. All you have to do is register with other people’s links and then create a referral link to share for yourself so that you can benefit from 20 to 40% of your referral trading commission. The procedure is very simple, as we explained.