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We often see people saying that you need to fill in a referral code when registering on Binance. So what exactly is this referral code? What are its benefits? Is it okay not to fill it in? This article will explain everything about the Binance referral code in detail. You can fill in the referral code when registering on the Binance Official Website, or enter it when registering on the Official Binance App. If iPhone users haven't installed the app yet, check out the iOS Installation Guide first.
What is a Binance Referral Code?
The Binance referral code (also known as an invitation code or Referral ID) is part of the Binance referral rebate system. Every registered Binance user can generate their own referral code or referral link. When new users enter this referral code during registration, a referral relationship is established between the two parties.
A referral code is essentially a combination of letters and numbers, such as "ABC12345". Some referral links directly embed the referral code into the URL, so when you enter the registration page through this link, the referral code will be automatically filled in.
What are the Benefits of Filling in a Referral Code?
Benefits for New Users
By registering with a referral code, you can receive trading fee discounts or rebates. The specific discount amount depends on the sharing ratio set by the referrer:
- Fee Cashback: A certain percentage of the fees generated from each trade will be returned to you.
- Rebate Ratio: The referrer can share a portion of the rebates they receive with the referee, with the ratio ranging from 0% up to the maximum shareable limit.
- Long-term Validity: Once the referral relationship is bound, you can enjoy this discount on every trade thereafter.
Benefits for the Referrer
The referrer also benefits from this:
- Every time the referee trades, the referrer receives a certain percentage of the fee as a commission.
- The more people referred, the more commissions earned.
- This is a legitimate source of income supported by Binance officially.
For Example
Suppose you register through a referral code, and the referrer has set a 50% sharing ratio. Then:
- A trade of yours generates 10 USDT in fees.
- Binance gives the referrer a rebate of, say, 20%, which is 2 USDT.
- The referrer shares 50% of that with you, so you get 1 USDT.
- Ultimately, your actual fee for this trade is equivalent to 9 USDT.
This discount will be automatically settled into your account after each trade.
How to Fill in the Referral Code
Filling it in During Web Registration
- Open the Binance registration page.
- Fill in your email or phone number and password.
- Find the "Referral ID (Optional)" input box at the bottom of the form.
- If this input box is not directly visible, you may need to click "Have a Referral ID?" to expand it.
- Enter the referral code, such as "ABC12345".
- Continue to complete the registration process.
Filling it in During App Registration
- Open the Binance App.
- Click Register.
- When filling in basic information, find the referral code input box.
- Enter the referral code.
- Complete the registration.
Registering via a Referral Link
If a friend gave you a referral link (URL), directly click the link to open the registration page. The referral code will be filled in automatically, and you do not need to enter it manually. This is the most convenient way.
What If I Forgot to Fill in the Referral Code During Registration?
This is a situation many people encounter. Unfortunately, it is impossible to add a referral code after registration is complete. The referral code can only be filled in during registration; once the account is created, the referral relationship cannot be modified.
Therefore, if you haven't registered yet, be sure to fill in the referral code during registration. If you have already registered but did not fill in a referral code, the only theoretical way is to delete the current account and re-register, but this process is quite troublesome and requires waiting a period of time before you can re-register with the same phone number or email.
How to Get a Referral Code
Get it From a Friend
If you have a friend who is already using Binance, just ask them for their referral code. They can generate their own referral code and referral link on the "Referral" page of the Binance App or website.
Get it From Social Media and Blogs
Many Binance users and cryptocurrency bloggers share their referral codes in their content. However, be careful to distinguish and ensure they are genuine referral codes and not phishing links.
Advice on Choosing a Referral Code
- Confirm the rebate ratio: Different referral codes may have different rebate settings; choosing a referral code with a higher sharing ratio is more beneficial to you.
- Beware of false advertising: Some people exaggerate the discount of their referral codes to attract registrations, while the actual rebate might not be that much.
- Do not leak personal information for a referral code: Obtaining a legitimate referral code does not require you to provide any personal information.
What is the Difference Between a Referral Code and a Referral Link?
A referral code and a referral link are essentially the same thing, just in different forms:
- Referral Code: A string of letters and numbers that needs to be manually entered into the referral code field on the registration form.
- Referral Link: A complete URL with the referral code parameter embedded in it. Clicking the link will automatically fill in the referral code.
Using a referral link is more convenient because it does not require manual entry and is less prone to typos. However, the effect of both is exactly the same.
Settlement Rules for Referral Rebates
Settlement Time
Rebates are usually settled in real-time. Every time you complete a trade, the rebate will be automatically calculated and credited to your account.
Rebate Currency
The currency of the rebate is the same as the currency in which you paid the fee. If you paid the fee with BNB, the rebate will be in BNB; if you paid with USDT, the rebate will also be in USDT.
Rebate Ratio
The default referral rebate ratio is a certain percentage of the trading fee. Referrers who hold more BNB or whose trading volume reaches a certain level can get a higher rebate ratio.
Check Rebate History
On the Binance App or website, go to the "Referral" page to see the details of your rebate earnings, including the amount, time, and source of each rebate.
Common Referral Code Scams and Prevention
Fake High-Rebate Referral Codes
Some people claim their referral code can provide a 100% rebate or extra rewards, but in reality, it's impossible. Binance's rebate mechanism has an upper limit, so do not believe exaggerated claims.
Referral Code Phishing Websites
Scammers might set up a fake Binance website and use a referral code to lure you into registering on the fake site, thereby stealing your account information. Always confirm that you are registering under the official Binance domain name.
Paying to Buy a Referral Code
Obtaining a normal referral code is free; any behavior asking you to pay for a referral code is a scam.
What is the Impact of Not Filling in a Referral Code?
Not filling in a referral code has no impact on your registration and use of Binance. Your account functions are exactly the same; you just miss out on the trading fee rebate discount.
If you plan to trade on Binance for the long term, it is still recommended to fill in a referral code. As fee rebates accumulate, they will amount to significant savings over time.
Frequently Asked Questions
Can the referral code be modified after registration?
No. The referral relationship is determined at the time of registration. Once the registration is complete, the referral code or referrer cannot be changed.
Is there a time limit for referral rebates?
Currently, Binance's referral rebates are permanently valid; as long as you are still trading, you will continue to enjoy the rebate discounts. However, Binance reserves the right to modify the rules of the referral program, subject to the latest official announcements.
Are referral codes and coupons the same thing?
No. A referral code establishes a referral relationship to enjoy fee rebates. Binance also sometimes issues coupons such as trading fee discount vouchers and trial funds. These are separate promotional activities and do not conflict with the referral code.
Can I generate my own referral code after registering?
Yes. After registering and completing identity verification, you can generate your own referral code and referral link on the "Referral" page to share with your friends for registration.
When do rebates start after registering through a referral code?
The referral relationship is established the moment you complete registration. Every subsequent trade you make will automatically calculate the rebate. However, the prerequisite is that you have completed identity verification and started actual trading operations.