(Pocket-lint) - The Binance referral code is: CRH6LXK8. This code allows new registrations on the website to receive the best sign up bonus.
Steps to Claim the Best Binance Welcome Bonus
The Binance promo code CRH6LXK8 allows new users on Binance to claim the best sign up bonus on the exchange. Just remember that users must enter this code when signing up to the platform. Accounts that have already been created will not be able to claim the welcome offer using the code.
Here is a step by step guide on how to use the referral code to get the bonus.
- Go to the Binance website and begin the process of registering the account.
- Make sure that all the information is accurate and can be verified later. Due to regulatory oversight, Binance must conduct KYC and AML procedures.
- When Binance asks for a promo code, enter: CRH6LXK8.
- Complete the rest of the registration process and all the verifications.
- Once all the bonus requirements have been met, the reward is available for use.
- Join the various binance programs that can be used to earn free crypto.
Using the Binance Referral Program
The Binance referral program has both positives and negatives compared to the referral programs of other exchanges. The biggest negative is that there are other platforms out there that offer higher rewards for referring friends and family.
This is mainly due to Binance’s size. Since it is already one of the largest exchanges in the world, it does not need to entice users to join the platform as much as other exchanges.
That said, the biggest advantage of the Binance referral program is that it allows users to have a lot of control over how they manage their referrals and the tactics they use.
Binance has both a referral and an affiliate program. The two are largely the same, but differ slightly in terms of scope.
The Binance referral program is open to everyone, and new users can join the program as soon as they have set up their accounts. The process is simple: Users need to head to the referral program tab and generate a code.
This code can then be used by friends and family to sign up to Binance. When users refer their friends, they stand to receive up to 40% commissions on the trading fees generated by their referrals.
The commission generated by trading needs to be split between the referrals and the users who invited them. The split is determined by the user when generating a referral code.
Users need to ensure that they provide enough of a kickback to their referrals to make their invite code appear attractive. However, it is also important that they save enough of the commission for themselves that it is actually worth it for them to refer people to Binance.
The Binance affiliate program is the second way for users to earn free crypto by referring people to the exchange. For the most part, it is just like the referral program. Users get a referral code that they can send out to invite people to the platform. For their trouble, they earn a commission on the trading fees.
The biggest difference between the two is that the commission rates are capped at 50% for Binance affiliates instead of 40%. This 10% higher commission rate can make a huge difference over the long run, especially considering that it applies to all the trades made by all the referrals.
The other major difference is that not anyone can become a Binance affiliate. There is an application process that users must go through. The affiliate program is for people or organizations with a large following. As such, users must be able to prove that they have a platform through which they can invite a large number of people to the platform.
Those who know even a little bit about crypto will know that Binance is one of the largest and most respected crypto exchanges out there. In fact, Binance is almost always used as a benchmark when talking about other exchanges.
Binance initially began as a simple cryptocurrency exchange. However, it has been one of the first to roll out new features as the crypto and DeFi ecosystem has progressed.
Nowadays, Binance is pretty much a complete financial institution in itself. Users of the exchange not only have access to exchanging fiat currency for crypto, but also the ability to utilize their crypto to its fullest potential.
Binance offers a lot in the way of features, so let’s go through the major categories that Binance operates in and what users can do in each one.
This is, of course, what the platform is based around. The Binance exchange is not well-known for its fees, but rather for its versatility and scale.
For example, it is extremely easy no matter where the user is based to find a payment method that is suitable for them.
As long as their jurisdictions allow for it, Binance users can use a credit or a debit card to exchange fiat currency for crypto. Users can also utilize bank transfers in certain jurisdictions to make payments.
However, the bread and butter of the Binance exchange is the peer-to-peer (P2P) network. The P2P network has over 100 ways for users to exchange crypto and fiat currencies. This makes Binance one of the most-trusted exchanges in countries where the financial system is underdeveloped.
Trading on Binance
The trade platform on Binance is one of the largest in terms of the number of assets on offer. Users can engage in both spot and futures trading.
Staying true to its reputation of being the most in-depth crypto exchange, Binance provides multiple trading interfaces. Novice crypto users can simply exchange one cryptocurrency for another, while crypto enthusiasts have access to a fully-fledged trading platform.
There are also numerous types of futures available on the exchange, including Coin-M and USD-M. Traders also have access to leveraged tokens, allowing them to trade futures without the fear of liquidation.
While the fees on Binance are nothing special, they are not higher than the industry average. Due to the number of features that the platform offers, Binance does not need to really offer low fees to convince users to trade on it. That said, users will not feel cheated by the fee structure on Binance.
The last thing to remember is that Binance also offers strategy-based trading. This is a form of automated trading where users can create a strategy and allow a bot to execute trades on their behalf. While this is an advanced feature, those who know what they are doing can make a lot of money based on this.
Finance Features on Binance
There are three major finance features on Binance. The first one is to apply for a Binance Visa Card. While there is a waitlist for the card, it is an easy way for users to spend their crypto and earn crypto-based rewards.
Users can also opt to use their crypto as collateral and take out a fiat-based loan. This is a great way for users to spend crypto in places where crypto adoption is not extraordinary.
Lastly, users can also make use of Binance Pay to send and spend their crypto without having to pay any fees. As long as the merchant supports crypto payments, Binance pay can allow users to spend money straight out of their Binance wallet.
On a similar note, merchants and businesses that want to be able to receive payments in crypto can also make use of Binance and set up a payment gateway. Binance also offers many bespoke features to institutional clients, such as large-scale diversified investments.
Binance has now grown to the point where it can basically operate like a bank. Users have the option of doing everything from saving their crypto and earning interest on it to staking it for various benefits.
There are also various other investment solutions provided by Binance. For example, it is possible to engage in a dual investment to increase the profit earned. Users also have the option to auto-invest into crypto, where fiat currency from their bank account is automatically converted into crypto at regular intervals.
Of course, Binance also has numerous crypto-specific DeFi features. Miners have the option of joining mining pools to increase the rewards they receive. There is also liquidity farming and a token launch platform.
Lastly, Binance was one of the first of the major exchanges to add an NFT marketplace. Due to the massive size of the exchange, Binance also has a gigantic NFT marketplace.
Apart from listing their own NFTs to the market, users can browse both collections and individual works and purchase them. Binance also hosts regular events related to NFTs that often have unique collectables not available elsewhere.
Use the Binance Referral Code Now
Binance may very well be the most complete crypto exchange currently online. Use the code CRH6LXK8 to avail the best referral bonus available to new signups.
Disclosure: The owners of this content may be paid to recommend Binance. The content on this page, including any positive views of Binance, may not be neutral or independent. This article does not constitute financial advice.