Interest in the virtual asset market is increasing, and the number of people starting to invest is also growing. However, when it comes to choosing an exchange, there are many things to consider.
The domestic exchange is convenient for depositing and withdrawing in won and has a stable legal environment, but for investors who want to experience various types of coins or wish to participate in futures trading, they often choose foreign exchanges.
Among them, Binance is the most prominent. This is the largest exchange in the world, with daily trading volume exceeding the total volume of domestic exchanges. Thanks to low fees, diverse services, and a huge number of coins, Binance has become a global standard.
Today, for beginners, especially in a mobile environment, we will learn how to enter the Binance referral code and its significance.
What is Binance referral?
First, you need to understand what 'Binance referral' is. This is the code entered during registration, through which you can receive a discount on trading fees.
If you register without entering a referral code, the standard fee will be applied in full. If you enter a referral code when registering, you will receive a discount on a certain percentage of the fee.
The basic spot trading fee is 0.1%, the futures contract is 0.02% for limit orders and 0.05% for market orders. At first glance, it may seem insignificant, but if you leverage high in futures contracts, the fee proportion will increase significantly. Therefore, the maximum 20% fee discount through the referral code is a considerable advantage.
To receive a 20% fee reduction link, you need to register through the link below.
📌 Get a 20% fee reduction on Binance
Not only new members but also current members can receive a 20% fee reduction. However, 5 conditions must be met:
The invited person must already have a registered account on Binance.
The invited person has never accepted an invitation before.
The invited person has no trading history or used any products on Binance in the last 180 days.
When the invited person opens the link and logs in, a confirmation window will appear.
The invited person clicks [Now Binding] for the link to take effect.
Reasons to register via mobile
Binance can be registered on both PC and mobile. However, currently, most use the mobile application.
You can download the Binance app from the app store (Google Play, Apple App Store).
After the simple registration procedure, you can immediately proceed with KYC (identity verification).
Wallet management, deposits and withdrawals, and real-time trading can all be done on the app.
Especially for newcomers, mobile has high accessibility, allowing you to check prices and trade anytime, anywhere, making it very convenient. Therefore, entering the referral code directly in the app is the most intuitive way.
The process of entering the Binance referral code on mobile
Now we will look at the details of each step of mobile registration.
Find and install Binance on Play Store or App Store.
Launch the application and select 'Sign Up'.
You can choose to register using an email address or phone number.
In terms of security and management, using email is a good choice.
A verification code will be sent to the entered email (or phone number).
Enter this code into the app and proceed to the next step.
The password must be at least 8 characters long, including uppercase letters, numbers, and special characters.
For security, do not use a password that is the same as other sites.
At this step, a box to enter the referral code will appear.
Must be entered immediately upon registration; it cannot be added later.
If the code is entered correctly, the fee reduction offer (up to 20%) will be applied automatically.
At this point, the basic registration procedure is complete.
KYC verification and important notes
After registration, it is mandatory to proceed with KYC (identity verification). This is a procedure that global exchanges require to comply with regulations, and it is also necessary to ensure account security and lift withdrawal limits.
You can choose one of the following documents: passport, driver's license, national ID.
Take front and back photos of the documents, then proceed to direct facial verification.
Typically, the approval will be completed in about 10 minutes.
The name and address must match the documents; if incorrect, verification will be denied.
The fee reduction effect when using the referral code
The fee saving effect when entering the Binance referral code is greater than you think.
For example, the basic market trading fee is 0.05%, and if trading with 20x leverage, the actual fee will become 1%. When applying the 20% discount from the referral code, the fee will be reduced to 0.8%.
Each transaction only differs by 0.2%, but when buying and selling repeatedly, the accumulated savings will be significant. If you are a day trader making dozens of transactions daily, you could save millions of won in the long run.
Additional ways to save fees
In addition to the Binance referral code, there are other ways to reduce fees.
Payment with BNB (Binance Coin)
When using BNB to pay fees, an additional 10% discount is given, and it can be combined with the discount from the referral code.
VIP level
When trading volume is large, the VIP level will automatically increase, and more discounts will be given according to the level.
That is, combining the referral code + payment with BNB + VIP level will achieve the lowest fee structure in the industry.
Using the Binance mobile futures contract
After entering the referral code and completing registration, you can start trading. Especially, the mobile futures feature on Binance is a core service used by many investors.
You can trade in both directions (long/short), leverage from 1x to a maximum of 125x.
Supports multiple types of orders: market, limit, stop-limit. You can manage positions and set stop-loss/take-profit levels to control risk.
However, futures contracts have higher volatility and risks than spot trading. Therefore, newcomers should start with low leverage (below 3-5x) for safety.
Conclusion
In summary, when registering for Binance, entering the referral code is not an option but a requirement. Just one simple entry can save you significantly in trading costs over time.
Using the mobile app makes the registration process intuitive and simple, allowing you to create a trading environment anytime, anywhere. Once KYC verification is completed, there will be no restrictions on deposits and withdrawals, so even newcomers can easily perform transactions.
The virtual asset market in the future will be highly volatile but also full of opportunities. A small habit can make a big difference, so don't forget to enter the referral code to build a reasonable investment environment.