I wanted to tell you the answer to this question because I registered on Binance years ago and now I understand the importance of using a Binance referral code more and more every day.

In 2020, when I registered on the Binance exchange, I did not know what the reference code was. It cannot even be said thatI know exactly what crypto is. I had information as much as I saw from the videos and Twitter pages I came across. After a video I watched, I decided to register for Binance and completed the registration process by logging directly to the Binance exchange from my computer.

I could register with my e-mail or phone number.

I entered my e-mail, then created a password and registered. But I did not use any referral code while registering. (That's why you should definitely follow the step below before registering)

At this stage, how do you register on the Binance exchange? If you don't know, I'm adding it below.

How to register on the Binance platform step by step!

1. Go to the official website: https://www.binance.com/join?ref=BNPREMIUM

2. Click on "Register".

3. Enter your email or phone number and a strong password.

4. In the form, find the field: Referral ID (optional)

5. Enter: BNPREMIUM

6. Enable two-factor authentication (2FA) to protect your account.

7. Start completing the identity verification (KYC) to be able to deposit and withdraw.

There was no problem for me after I started using Binance without entering a reference code. I was depositing money, shooting, buying and selling coins, so you will understand that everything was normal for me, there was no problem. Untilone day I checked how much I had traded this month andcalculated how much I would have pocketed if I had used a code with a 20% commission discount 😱

Binance exchange charges 0.1% commission on both maker and taker in spot transactions. But if you use a reference code like BNPREMIUM, this rate drops to 0.08% with a 20% commission discount. Maybe this amount may seem low to you, so I leave my spot trading volume for the last 30 days below, then let's move on to the calculation.

 

 As you can see in the picture, I have made a spot trading volume of 1587122.75 USDT in the last 30 days. When Binance receives 0.1% commission from me, I pay $ 1587 to Binance. If I had used a code that gives a 20% commission discount, I would have received 0.08% commission and I would have paid about $ 1269 commission. So I would have earned about $ 318 here. But remember, this is the trading volume I have done in the last 30 days, what if I had traded at the same rate for 1 year?

Considering that I have been trading in this market for 4 years and will continue to do so, not using a reference code cost me dearly.

This situation is also valid for futures transactions, but the situation there is a little different. The reference code you usein spot transactions is valid for life. But the reference code you use in futures transactions is valid for only 1 month and provides a 10% commission discount. It would not be right tobe valid for 1 month or to under estimate the amount such as 10%. As you can see on the screen above, I have traded 2578198.41 USDT in the last 1 month, even the amount of commission I would get from the transaction fee I paid there would be a really nice amount. If you are going to trade Binance futures, you can benefit from a 10% commission discount for 1 month when you use the TURKEY code.

Does Each Referral Code Give 20% Commission Discount?

Answer: NO

This part is one of the most important points. In the past, whenyou registered on the Binance exchange, the reference rate of the code you used was written in the right / left corner of the registration screen where you entered the reference code. But now Binance no longer shows it on that screen. So after entering the reference code and registering, be sure to check whether your commission rate is correct before doing your KYC process.

Most of the codes you come across do not give a 20% commission discount, but they tell you as if they did. So you should definitely pay attention to this point.

How do I check the commission rate of my referral code?

1.First of all, you log in to Binance. (If you are going to register new, use the BNPREMIUM code for a 20% commission discount)

2. Click on the profile tab at the top right and click on Referral at the bottom.

3. You will be presented with the page that appears on the screen. Here we click on the referral section in the red box at the top left.

4. The Referral pro tab appears. Click there.

5. In this section, when you scroll to the bottom of the page, you will see the My Inviter section. The % under the Spot Shared Commission Ratio section written there. It is your referral rate.

6.If you do not see the My inviter section at the bottom. You have registered without using a reference code.

I did not register with a referral code, can I add a referral code later?

Answer: NO.... Although it is known as yes, you can add it.

With this system recently introduced by the Binance Exchange, it is possible to add a referral code later.

So How?

If you have not made any transactions on the Binance Exchange within 180 days. You can add your 20% commission discount directly via the link below.

Is it really important to use a reference code? I am sure that we are now all together YES IMPORTANT ... we give the answer.

Be sure to use these codes, which are completely for the benefit of the user without any harm to you, otherwise you will have to pay very high amounts of commission like me :)

One last reminder:

For lifetime 20% commission discount on spot transactions: BNPREMIUM

For 10% Commission Discount for Futures Transactions validfor 1 month :TURKEY

 

do not forget to use the codes.