When you start investing in cryptocurrencies for the first time, it is natural to have various doubts. For example, when registering on a foreign cryptocurrency exchange, you might wonder whether to enter the Binance referral code.
To address this issue, I will provide you with information about the associated benefits and coins. Additionally, for beginners, we will analyze the registration process step by step.
Creating an account on Binance is really simple.
In the Google Play Store or Apple App Store, search for 'Binance', download and install the app, and then launch it. You can then register using your email address or phone number.
In this case, a message regarding the Binance referral code will be displayed. If you enter it, you will receive a 20% discount on fees. Not entering it does not cause any problems but means forfeiting benefits worth taking advantage of.
However, it should be noted that the amount of the discount depends on the referral code used, so it is important to check this carefully.
If the code consists only of digits, it is a standard code for regular users.
Codes containing letters belong to influential people: using them can grant a 20% discount on products, so it is worth taking advantage of them.
📍 Go to receive a 20% discount on Binance fees
Even already registered users can receive a 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 conducted any transactions or used Binance products in the last 180 days.
When an eligible guest opens the link and logs in, a confirmation window will appear.
When the inviter clicks [Connect Now], the link becomes active.
After entering the code, the registration process is practically completed.
Next, to complete the KYC verification, you need to choose one of the documents – an ID card, passport, or driver's license – take a photo of the front and back, and then 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's good to check them on the official site.
In futures transactions, fees typically range from 0.4% to 0.55%.
Looking at this alone, it doesn't seem like a big burden.
However, both deposits and withdrawals are associated with fees. Additionally, using leverage proportionally increases fees to the chosen leverage level, so this should be kept in mind.
The reason for trading cryptocurrency futures is precisely the ability to use leverage.
Leverage allows you to invest amounts significantly higher than your capital by borrowing funds. This way, you can increase your investment volume by up to 100-200 times compared to your initial capital.
As a result, fees also increase proportionally. Over the course of a month, for the most active traders, it is not uncommon for fees alone to exceed €3,300–4,000.
In such cases, even when generating profits, a large portion of them is consumed by transaction costs, inevitably reducing net profit.
For this reason, it is important 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, you can achieve VIP status and enjoy further discounts.
However, for those who are just starting or have limited capital, this may not be easy.
Therefore, it is recommended to use the Binance referral code to immediately receive a 20% discount and start investing.
Trading futures contracts allows you to earn not only when prices rise but also when they fall.
However, for beginners, investing without proper preparation can lead to significant losses: therefore, it is important to learn thoroughly, assess well, and start cautiously.
I definitely recommend taking advantage of the 20% discount on fees, which will help reduce costs and increase investment efficiency. This concludes my post for today.