You have probably heard about Binance, the digital asset exchange that rose to the forefront in 2017 and became a leader in the digital asset sector. The entity was formed by Mr. Zhao, a developer who performed at a high level in his early career. For instance, he was involved in high-frequency trading coding and used his knowledge and experience to create significant momentum.
The digital asset exchange moved its headquarters in China to elsewhere after it saw significant issues with the Chinese government. The firm would make moves from one place to the other, to go from Malta, to the Cayman Islands, and more.
It is now present in various parts of the world. The firm has a wide variety of individuals who are present on its site and that engage with it regularly.
If you are one of these individuals who interact with Binance, then you will have likely stumbled on the referral code on Binance registration. In this article, we will explain what it is and how to benefit from using a correct referral ID.
20353588 – enter this Binance referral ID to receive discounts!
Referral ID Purpose
What is the ID purpose and what is it all about for users of Binance? The primary value of the referral ID is that it will provide you lower costs on your speculation fees. This means that if you use this code, you will have the ability to lower your costs per trading transaction.
The reason why you want to lower your costs is that you want to earn more per transaction. If you pay less per trade on the exchange, then you will be able to account for different types of trades. You may be able to do low margin, high-frequency style trading, and actually earn a profit if the fees are lower than your earnings.
The idea is that you do not want to miss out on various styles of trading that will work within certain trading environments due to high fees. You would rather lower your costs so that you can diversify your opportunities.
The 20353588 Binance Referral code enables you to lower your costs and earn more. Binance helps you to have a more streamlined experience by using such a Referral code.
The ID link or code when utilized during registration provides aspiring Binance registrants with over 20% to 30% discounts on trading costs per trade for the duration of their account. Did you know that this kicks in from the moment you sign up as a user to Binance with the referral ID?
The Value of the Binance Referral Code
Those who understand the value of this code will realize the necessity to trade regularly. But why would you trade regularly? If you trade regularly, you will realize significant savings. If you are able to take advantage of increased trade volumes on the spot market and on Binance futures, you will see that with the Referral ID, you will save quite a bit.
Many individuals do not take advantage of the Referral code and sign up without it because of ignorance or because they do not realize the significance of it and think that it does not matter.
They fail to save the money that they could have saved when they bypass this ID when signing up. Remember that speculators are creating volume as they trade each day, the more trades, the higher the volume. So, the more volume one creates with this process, the better it is.
The Steps to Set Up An Account with Binance Referral ID Code
These simple steps will help you move through the process with the referral code (ID).
- To begin your journey, you would head to Binance with a specific referral link.
- Then when you use that specific link you can start to form an account on the Binance entity. It is here that you will notice an area that says “Referral ID”
- You will be invited to create an account on Binance’s registration page. You will see a box labeled “Referral ID“. Here, you will input the code 20353588 and your Binance account will be associated with the official Binance program and you will register with more benefits.
- Then proceed with the regular registration processes. This is where you would input your information that ranges from your email to your other credentials.
- Proceed to look at Binances rules and regulations, comply with their TOS.
- This is where you would verify and check all of the information, ensure that the code is present in the referral ID segment, then form your account with Binance. You are now headed to becoming a Binance user with the right discount benefits.
Why Binance?
Now, becoming a Binance user with the Referral ID is an amazing thought. As noted above, Binance is a high-performing digital asset entity. It serves as a worldwide entity that has a wide variety of assets.
It is known for its large volumes, its discounts, and compelling wide variety of assets for trade. Many people know and trust Binance as a prominent entity in this sector.
Let’s find out more about the Binance discount for trades.
Binance Fee Mitigation
The Binance fee reduction is great for everyone involved in regular and frequent trading endeavors. Through the Referral ID, one obtains the discounts on the transactions’ fees one involves themselves in. That is the primary reason why individuals will interact with Binance. But it has quite a bit to offer.
Binance Trading Fees Wxplained and Why Discount Matters
The value of Binance trading is that it already comes at low fees but with the program, it provides even more discounts. To understand the genuine value of the Binance account, you will have to look at the fees and know how much you are saving.
Remember that they offer a VIP program and a regular program. Let’s start with the fees on the regular program and then move on to the VIP program.
Spot Trading
What are the fees for spot trading?
It is based on your 30-day trade volumes.
- If you have less than 50 BTC and 0 BNB or under 50 BNB then the maker taker fee is 0.1000%/0.1000%. You obtain 25% off when trading with BNB according to the rules that Binance states.
- If you get to the next level, you will have greater than or equal to 50 BTC and greater than or equal to 50 BNB in your account. The maker/taker fee is 0.0900% / 0.1000%. You will note that it is 0.0675% / 0.0750% with the BNB fee pay discount.
- If you are at the next level, you will have greater than or equal to 500BTC and greater than or equal to 200BNB. The maker taker fee is as follows – 0.0800% / 0.1000%. Of course, if you are using BNB, the maker taker fee is 0.0600% / 0.0750%.
- If you find yourself at the next level, you will be greater than or equal to 1500 BTC and will have greater than or equal to 500 BNB. The maker taker cost is 0.0700% / 0.1000%. The BNB pay option is as follows 0.0525% / 0.0750%.
- The next level is the 4500 BTC level, you will be trading that volume of BTC over the course of 30 days. The amount of BNB you will trade will be over 1000 or greater. In that situation, your maker taker fee is 0.0700% / 0.0900%. If you are using BNB – 0.0525% / 0.0675%.
- The next level is if you have volume greater than or equal to 10000 BTC and greater than or equal to 2000 BNB. You will pay 0.0800% / 0.1000%. If you have BNB to pay your fees,0.0600% / 0.0750%.
- If you have volume greater than 20000 BTC and volume of greater than or equal to 3500BNB, then it will be 0.0500% / 0.0700%. If using BNB, 0.0375% / 0.0525%.
- If the volume is greater than or equal to 40000 BTC and greater than or equal to 6000 BNB, then the maker taker fee is as follows – 0.0400% / 0.0600%. Of course, if you pay with BNB, it is 0.0300% / 0.0450%.
- If it is greater than or equal to 80000 BTC and 9000 BNB then you will have fees of 0.0300% / 0.0500%. If it is with BNB pay for fees, the cost will be 0.0225% / 0.0375%.
- If you find that you want to push the volume limits, then you might find yourself in the 150000 BTC volume range and the 11000BNB range, then the fees are 0.0200% / 0.0400%. If paying with BNB 0.0150% / 0.0300%.
Margin Borrow Interest
The margin borrow interest on assets will vary from 0.050000% to 0.056000% or more depending on the asset that you choose.
Of course, the fees will also vary based on your VIP level which is dictated by your total trading volume.
USD-M Futures Trading
If you are looking into futures trading, remember that the fees will vary by volume and will be similar to what is noted for spot trading. In essence, the higher the volume of trading, over 250 BTC and further, the lower your fees. Now, if you apply the discount from BNB pay for fees and the discount referral ID
Coin-M Futures Trading
There are similar tiers here with it ranging from the same numbers 250 BTC volume to 75000 BTC volume and BNB balances that range from 0 to 11000 BNB. Maker fees range from 0.0100% to -0.0090% for makers. Then it will range from 0.0500% to 0.0240% for takers. Remember that it is all about volume.
Cross Collateral Interest
Did you know that cross-collateral interest is also based on the rate of volume? As you can see, the rate of volume certainly matters in each of these segments.
Liquidity Swap Fee
The liquidity swap fee will range from 0.2000% to 0.0600% depending on your rate of volume. The higher the volume, the higher the VIP level, the lower the fee.
What Kind of Discounts You Will Get
As you can see from above, the discounts that you can obtain will include the discounts provided by using BNB to pay for fees and the ones that you can obtain by using the Referral ID code.
If you apply the respective discounts by staying in line with the respective Bitcoin volume levels and also using the referral code and BNB to pay, you will certainly be significantly better off than others.
Remember that over 20% to 30% discounts is a terrific deal, now, that with other Binance discounts genuinely provide speculators with an amazing type of trade.
Take Advantage of The Binance Referral ID
But now we go over to why one would go with Binance. Well, did you know that Binance is responsible for more than a few million in regular transaction volume? It processes a wide variety of trades over 1 million per second.
Think about that. It is processing about 1 million per second. That shows technical prowess and it shows the depth of the scale of the exchange.
The firm continues to show that it is certainly no clown when it comes to being a behemoth in the digital asset industry. It has its own digital asset or currency and has deployed its respective blockchain.
People respect Binance and it is slowly growing an ecosystem with the Binance chain.
Of course, consumers also like the fact that the international entity will have the ability to provide help to each user regularly.
The referral program is another wonderful addition to the Binance offering. You can take advantage of the trading fees cost reductions through the Referral ID program, but you can also have a fantastic experience on your various trades. The exchange offers quite a bit from futures to other options where you can benefit in multiple ways. From its many coin listings to the interest you may be able to earn, many people appreciate it.
So if you are thinking about forming a Binance account, ensure to use a referral code and benefit from the tremendous and terrific savings.