When you start investing in cryptocurrencies for the first time, it is natural to have various doubts. For example, at the time of registration on a foreign cryptocurrency exchange, one might hesitate whether or not to enter a Binance referral code.
To solve this problem, I will provide you with information about the related benefits and coins. Additionally, for beginners, we will analyze the registration process step by step together.
Creating an account on Binance is really simple.
On Google Play Store or Apple App Store, search for 'Binance', download and install the application, and launch it. Subsequently, you can register via email or phone number.
In this case, a message regarding the Binance referral code will be displayed. If you enter it, you can get a 20% discount on fees. Not entering it does not cause issues, but it means giving up a benefit that would be useful to take advantage of.
However, the discount varies depending on the Binance referral code, so it is important to check it carefully.
If the code consists only of numbers, it is a standard code for common users.
Codes that include letters indicate influential figures: using them, one can obtain a 20% discount on the price of products, so it is advisable to take advantage of it.
📍 Go to receive the 20% discount on Binance fees
Even already registered users can obtain the 20% discount on fees if they meet the following 5 conditions:
The invited person already has a registered account on Binance.
The invited person has never accepted an invitation before.
The invited person's account has not performed any transactions or used products on Binance in the last 180 days.
When the eligible guest opens the link and logs in, a confirmation window appears.
When the inviter clicks on [Link Now], the link becomes effective.
Once the code is entered, the registration process is practically completed.
Subsequently, to complete the KYC verification, you need to choose one between ID card, passport, or driver's license, photograph the front and back, and upload the images.
Now that the registration is complete, let’s see why it is beneficial to use the Binance referral code to reduce fees. Each exchange applies different rates, so it is good to check them clearly on the official site.
In futures operations, fees generally range from 0.4% to 0.55%.
Considering only this, it would not seem an excessive burden.
However, both deposits and withdrawals incur fees. Additionally, using leverage increases fees proportionally to the level of leverage chosen, so it is necessary to keep that in mind.
The reason to trade futures with cryptocurrencies is precisely the ability to leverage.
Leverage allows you to invest amounts much higher than the capital you own by borrowing funds. In this way, it is possible to increase the investment volume up to 100–200 times the initial capital.
Consequently, fees also increase proportionally. On a monthly basis, for the most active traders, it is not uncommon for fees alone to exceed €3,300–4,000.
In such cases, even generating profits, much of it is absorbed by brokerage costs, inevitably reducing the net profit.
For this reason, it is essential to save as much as possible on fees.
To reduce fees on Binance, you can use BNB tokens or participate in various promotional events.
Additionally, with high trading volumes, it is possible to achieve VIP status and benefit from further discounts.
However, for those who are just starting out or have limited capital, this may not be simple.
That’s why it is recommended to use a Binance referral code to immediately get a 20% discount and start investing.
Futures trading allows you to earn not only when prices go up but also when they go down.
However, for beginners, investing without proper preparation can lead to significant losses: it is therefore important to study carefully, evaluate well, and start cautiously.
I strongly recommend taking advantage of the 20% discount on fees, which will help reduce costs and increase the efficiency of your investments.
With this, I conclude today's post.
