Binance Exchange has maintained the number one spot in global trading volume for years and is the largest cryptocurrency exchange in the world. The number of domestic users is also steadily increasing, making it a platform with a high level of trust.
The biggest reason why investors flock to Binance rather than domestic exchanges is the ability to trade futures in both directions. While domestic exchanges allow profit only when prices rise, Binance enables profit opportunities even during price declines through futures trading.
This means that regardless of the market direction, you can freely develop your investment strategy according to your predicted trends. Additionally, Binance has a variety of coins listed that cannot be compared to domestic exchanges.
You can select assets that match your investment preferences, and since it is an exchange where global benchmark prices are formed, it allows for investments based on more objective market prices.
In addition, the leverage feature is also a key element of Binance. Domestic exchanges often have a trading structure focused on spot trading, where investment capital and profit are proportional, but Binance allows larger trades with relatively small capital by utilizing leverage.
In Binance futures trading, you can set leverage up to 125 times, but excessive multipliers can quickly amplify losses. Therefore, I recommend beginners use leverage of 20 times or less.
Important travel rules and fee structures to know before signing up.
First, let me briefly explain the Travel Rule. The Travel Rule is a system established to prevent international money laundering, requiring clear verification of the sender's and recipient's information when transferring digital assets.
The importance of this system lies in the fact that, when transferring assets between domestic exchanges and Binance, the name information registered on both exchanges must match exactly for normal deposits and withdrawals. If the English name or date of birth differs, it may cause withdrawal delays or restrictions.
Additionally, domestic exchanges like Upbit or Bithumb can only withdraw to approved overseas exchanges, making it very important to use officially recognized exchanges like Binance.
Next, we must focus on the fees. The Binance futures trading fees are set at 0.02% for limit orders (Maker) and 0.05% for market orders (Taker).
While the numbers may not seem large at first glance, the fees can increase significantly because futures trading often involves leverage.
For example, if you use a leverage of 20 times with an investment of 3 million won, the actual trading size will be 60 million won. In this state, entering and liquidating at market price once will incur about 60,000 won in fees for just one transaction.
If trading occurs three times a day for a month, approximately 90 trades will be conducted. In this case, the fees alone could amount to about 5.4 million won, and depending on the situation, the costs could reach the level of the principal in fees.
Therefore, the fee discount can be seen as a necessity, not an option.
How important is the Binance fee discount?
By signing up through the referral link below, you can receive a lifelong 20% discount on fees.
🎁Get a 20% discount on Binance fees and go to sign up!🎁
Not only new users but also existing users can receive a 20% fee discount by fulfilling the five conditions below.
The invited person already has an account registered with Binance.
The invited person has never accepted an invitation before.
The invited person's account has not conducted any transactions or used any products on the Binance platform in the past 180 days.
A confirmation window will appear when the eligible inviter opens the link and logs in.
The binding takes effect when the inviter clicks [Bind Now].
When signing up, you might overlook the number 20% as it seems small. However, based on the previously mentioned monthly fee of 5.4 million won, you can save about 1.08 million won each month.
When converted to an annual basis, you can expect a cost-saving effect of over 13 million won, and in the long term, whether you receive a fee discount can significantly impact your returns.
Therefore, it is advisable to apply the fee discount when trading.
The Binance sign-up method completed in just 5 minutes
Now let's take a step-by-step look at how to sign up for Binance. First, by accessing the above link where the fee discount is applied, you will be taken directly to the sign-up screen.
Account creation can be done using an email address or a mobile phone number. While signing up with a phone number is possible, it may lead to login difficulties if the phone number changes due to device changes. For these reasons, it is recommended to sign up with an email address.
How to set a password
More than 8 characters
Includes numbers
At least 1 uppercase letter
If the above conditions are met, you can set it up without any issues.
Once you have set your password, your registration will be complete, and the 20% fee discount benefits will automatically apply.
So far, I have summarized how to sign up for Binance, tips for reducing fees, and key information that you must know. It may seem complicated at first, but once set up, it can make a big difference in the long run. So don't forget to sign up through the Binance fee discount link!
I hope you continue safe trading with careful risk management and appropriate leverage.