Binance Futures trading method referral discount benefits
Recently, as the volatility of investment products like stocks and Bitcoin has increased, many are considering Bitcoin futures trading. In fact, there was a case where someone participated in futures trading with an initial capital of about 2 million won during the Luna incident and made profits of tens of millions.
Bitcoin futures trading is a method of investing by predicting future coin prices. Unlike stock futures, it is characterized by only the difference being settled. While high leverage can lead to significant profits, the risk of liquidation of the principal also increases, so caution is needed. Because of these characteristics, many people are interested in futures trading.
Binance registration and referral benefits
To trade futures, you need an account with a foreign exchange. Among them, Binance is recommended for its abundant trading volume and liquidity, as well as its intuitive interface.
If you enter a referral code when signing up, you can receive up to a 20% discount on trading fees.
This is the highest level of discount rate offered by Binance, so it's advisable to take advantage of it.
Especially as leverage increases, the burden of fees increases, so discount benefits can make a big difference in the long run.
Binance futures trading is only available with USDT (Tether). Therefore, you need to exchange the Ripple you deposited into USDT.
Small traders can find it convenient to use the Convert feature.
Large traders benefit from converting to USDT through selling.
After conversion, you need to transfer assets from the spot wallet to the futures account (USDT-M Futures) to start trading.
Start Futures Trading
You can now start trading futures in the Binance Futures menu.
Leverage setting: Up to 125x is possible, but beginners should aim for between 5 to 10x for safety.
Position selection: Long if you expect an increase, Short if you expect a decrease.
Order type: Choose between Limit or Market. Most use Market orders.
Margin type: Choose between Cross and Isolated; beginners are recommended to use the Isolated method.
Points to note and benefits
Binance futures trading can yield substantial profits if you accurately predict price volatility using high leverage. However, conversely, if you predict incorrectly, your assets can be liquidated in an instant. In fact, there have been cases where small amounts were used to attempt leverage over 50x, resulting in total loss.
Therefore, beginners should definitely start with low leverage and small amounts for safety. Also, as leverage increases, the burden of fees increases, so don't miss out on referral codes or discounts using BNB payments.
👉 To summarize,
When registering for Binance, enter the referral code WOZFXLOX for a 20% fee discount.
Transfer assets from Upbit to Binance (XRP recommended)
Convert assets to USDT and transfer to the futures account
Set leverage and position, then start trading
Since there is an opportunity to aim for large profits, it is wise for investors to consider risk management and fee reduction strategies together.