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Binance Referral Program
The Binance.US referral program offers referrers up to a 40% payout on commissions generated by referees.
The percentage of commissions that a referrer can earn is dependent on two factors: referred traders who have gone through the verification process should opt into the program and the referrer should hold some BNB.
Let’s explore how the Binance.US referral program works.
Binance Referral Program Details
To get started with the referral program at Binance.US, verified Binance.US users should purchase some BNB (Binance’s own cryptocurrency). Not only does holding some BNB cut down on trading fees (25% reduction), but it also unlocks the ability to earn from referrals.
Holding less than 500 BNB will allow referrers to earn 20% of all commissions from referrals.
Holding more than 500 BNB will allow referrers to earn 40% of all commissions from referrals.
Getting Started
To begin referring traders to Binance.US, there is an advanced verification process that needs to be completed. Traders looking to take advantage of the referral program also need to review the terms of the referral program and agree to everything.
Once those preliminary steps are completed, users can copy their referral code and share it however they like, including personal websites, social media, and more.
Referees
Referees who have received a referral link should use their link to access Binance.US (not Binance international) and create an account. The referrer will not get the credit for the referral if the referee signs up without the link provided – even if the first time visiting the site was through the referral link.
The referred trader then goes through the verification process to ensure eligibility before funding their account and making a first trade.
It is important to note that referred traders aren’t automatically added to the referral program simply by signing up with a referral link. They must agree to and activate the program from within their new accounts.
Referral Payouts
Referral payouts are credited directly into the referrer’s account following any trading activity that takes place.
Payouts are handled daily, and the commissions earned show up on the account referral page.
Referral commissions are shown in USD on the referral account page to make it simpler to track earnings from referrals.
Referral payouts are not actually paid out in USD, however. Instead, referrers are paid in the same cryptocurrency that their referees used to generate those commissions.
For example, if a referred investor makes trades in BTC, ETH, and LTC on a regular basis, the 20% or 40% of the trading commissions will go into the referrer’s account as those cryptocurrencies. The necessary digital wallets are automatically created for the referrer.
Pros
- The ability to share the referral link anywhere.
- No limit on how many referrals can be made.
- Comissions are earned for the life of the account.
- Signup process is easy to understand and can be done via mobile.
Cons
- Referred traders must also sign up to the referral program.
- 500 BNB HODL requirement may be difficult for some.
- Referral program takes the place of all other promotional offers once activated.
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