Binance is the world's biggest crypto exchange measured by trading volume, offering spot, futures, and margin trading on hundreds of coins as well as savings, staking, and NFT marketplace services. The Binance native BNB coin and 10-tier VIP system allow active traders to compound multiple benefits, lowering spot trading fees substantially below the base rate.
Base spot trading fees equal 0.10% for maker/taker orders. Entering a referral code at account creation provides a 20% lifetime discount, lowering them to 0.08%. Paying fees with BNB (Binance native token) offers a further 25% off, reducing trading fees to 0.055-0.06% with both benefits combined. VIP tier membership (based on 30-day volume or BNB balance) adds on top of both, making them even lower for active traders. All three are combined, not one overriding the other two.
Binance VIP system spans from VIP 0 (the base rate) to VIP 9. VIP 1 requires 1 million USDT in 30-day trading volume or holding 25 BNB, reducing spot fees to 0.09%/0.10%. VIP 2 requires 5 million USDT or 100 BNB for 0.08%/0.10%. Further tiers demand larger volumes or BNB balances, with top tiers bringing maker fees close to zero or even negative (you are compensated for creating liquidity pools). For most casual traders, VIP 0-1 tiers will suffice.
Just search for "Binance referral code" and you'll find many websites providing various figures — some state $100, other $600, $1,000, or even $19,800 welcome rewards for the very same program. These are marketing pages fighting for clicks, not Binance referral terms. The one and only consistent number that also appears in Binance documentation is the 20% lifetime trading fees discount — take all others as speculative until you see the actual reward in your Rewards Hub.
The referral code should be entered in Referral ID field during initial registration, before your account is created. There is no way to enter it retroactively later, or via support. In case you have already registered without referral code, you have no choice but open a new account with a new email and enter the code during registration.
Futures trading begins at 0.02% maker and 0.05% taker rates for USD-M contract at the base tier — which is already lower than spot by default because of higher volume of futures markets. Binance BNB discount here is lower than in spot trading (around 10% off futures fees instead of 25%). Referral discounts on futures trades are usually lower as well compared to 20% provided for spot/margin.
Binance has Secure Asset Fund for Users (SAFU) — an insurance reserve accumulated from the portion of trading fees, which is used for reimbursement of users in case of massive security breach or hack. This is not a blanket insurance, covering every possible scenario. This fund covers only cases when there is a major security issue on Binance platform itself, not trading loss, market volatility, or personal user mistakes.
Identity verification is not optional if you wish to have access to full features of the exchange. Basic KYC (government ID) gives access to the core functionality with limited caps. Full KYC, with additional proof of address, significantly increases withdrawal limits and gives access to fiat currency deposit and withdrawal channels. Referral bonus and reward tasks are often requiring completion of basic KYC within certain period after registration (usually 15 days).
Binance.com is not available to US residents; they use Binance.US, a separate platform with a separate referral program, fewer coins available, and separate fee schedule. Referral codes and links of Binance.com are not valid on Binance.US. Regulation differs by country and is changing from time to time, so it is always better to check current accessibility of the platform in your jurisdiction.
No. The code must be entered during initial registration into the Referral ID field. There is no retroactive possibility to add it via support ticket or through account settings — if you forgot it, your only way to get discount is to make a new account with a new email.
Treat them with suspicion. They are coming from various affiliate websites and not from Binance itself; besides, figures may vary significantly between various sources referring to the same program. The only benefit that can be documented and verified is 20% lifetime trading fee discount — check it yourself in Rewards Hub.
Combining referral code (20% off) and payment of fees with BNB (another 25% off) reduces base spot trading fees from 0.10% to 0.055-0.06%. Adding VIP tier (higher volume or BNB balance) reduces it even further, though to get there you need to trade actively or to hold sufficient amount of tokens.
Spot fees have 0.10% maker/taker rate by base. Futures (USD-M contracts) have lower rate — 0.02% maker and 0.05% taker, because futures markets have bigger volume. Discount percentages on BNB and referrals are usually smaller for futures trades than for spot.
No, Binance.com does not operate for US customers. Americans should use Binance.US, a separate platform with separate referral program, coin selection, and fees. A referral code from one platform cannot be used for another one.
This is an emergency insurance reserve meant to reimburse users in case of major security breach or hack of Binance platform. It does not cover trading losses, market volatility or personal mistakes — its purpose is platform security breaches only.
Yes, for all features. Basic KYC (government ID) unlocks core functions with limits. Full KYC (proof of address) unlocks significantly bigger withdrawal limits and fiat currency deposit/withdrawal channels. Reward tasks and referral bonus usually require completion of at least basic KYC within certain period after registration.
Either through 30-day trading volume (starting from 1 million USDT for VIP 1) or holding certain amount of BNB (starting from 25 BNB for VIP 1). Both ways give you VIP tier, whichever of them is easier to reach.