What is the Standard Referral Mode for Binance?
The Binance exchange is the most popular and one of the best exchange for trading cryptocurrencies both Spot trading and future trading. What is the Standard Referral Mode for Binance?
Common Questions Regarding Binance Standard Referral Mode
1. What is the Standard Referral Mode for Binance?
The referrer will be compensated with a commission on fees whenever a new user successfully referred by them joins Binance through the Standard Referral Mode transacts on any of binance’s Spot or Futures markets. This implies that you may now invite people using either a conventional Spot referral link or a Futures referral link and get paid from both. Please be aware that the referral commission for the Futures market is only valid for a period of 12 months beginning with the invitee’s opening of a Futures account.
2. When my invitee opens a Binance account, can they use my standard referral code?
When a user creates a Binance account, they must enter a referral code. Please double-check the referral code you or your invitees enter. The commission cannot be earned if they neglected to input their referral code during signup or entered it incorrectly.
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3. How can I view the history of my commissions?
From [Referral] – [Commission Rebate], you may view your referral commission. Every hour, the money is added to your account.
You can get your commission rebate information by clicking on the chart icon.
4. Why haven’t my invitees given me the referral commission?
Every hour, real-time standard referral commission is calculated and sent to the appropriate Binance accounts. You can only get referral bonuses when your invitee completes a purchase.
For the first 12 months following their respective registration dates, you can only get a referral commission from invitees who are regular or VIP 1 users for futures trading.
You must open a Futures account in order to receive both Spot and Futures commissions for referring friends. You can only get money from a referral’s Spot trading fees if you haven’t opened a Futures account and they use your Spot standard referral link to sign up. What is the Standard Referral Mode for Binance?
5. How can I verify the User IDs of the invitees I referred?
Click [Referrals] under “Standard Referral” to access this page. Their UIDs are displayed in [All Accounts].
6. Can I alter my referrer? What is the Standard Referral Mode for Binance?
The referral relationship cannot be modified once it has been formed, thus no.
7. How do referral commission and rebate differ from one another?
Both the rebate rate and the referral commission rate are included in the base referral bonus. The inviter will get a commission for referring customers, and the invitee will get a discount if the invitee completes a transaction.
8. What is the settlement token and when will I receive the standard referral commission?
Real-time calculations are used to determine all normal referral commissions, which are then paid to the appropriate Binance accounts every hour (both those received by inviters and those shared with their invited friends).
The settlement assets for referral commissions are identical to the commission fees produced by the invited friend’s actual transaction (invitee). The settlement assets for referral commissions and refunded referral commissions will be in BNB if the invitee takes advantage of the BNB fee discount.
9. When is my referral rate updated?
Every day at 2:00 (UTC), referral rates are computed and updated at 10:00. (UTC).
10. How can I locate my default referral link?
Log into your Binance account if you’re using the Binance website, then select [Dashboard] – [Referral] – [Standard Referral].
Alternately, sign in to your Binance App and navigate to [Standard Referral] by tapping [Referral] on the main screen.
11. How do I create, configure, and administer my referral links?
Click [Dashboard] – [Referral] – [Standard Referral] after logging into your Binance account. Go to [Change referral settings >] and click.
Set your friends’ commission rebate rate by clicking [+ Add New Referral]. You can choose to share 0%, 5%, or 10% of the referral fee with the friends you invite. The default referral rate is 20%. Press [Confirm].
Send the invitation link to your friends by selecting [Copy] next to it. Once they successfully sign up for a Binance account and begin trading, referral commissions—both the ones you receive and those you split with your referred friends—are computed in real-time and credited to the appropriate Binance accounts every hour.
12. Is it possible for me to delete my current Binance account and create a new one with a different referral code?
Binance retains the right to cancel all referral commissions from an account in the event that the system determines that a user canceled his account in order to open a new account and take advantage of the referral program.
Note: You will not be paid referral commissions for spot and margin trading from this user if they did not register a Binance Account using your Referral ID. What is the Standard Referral Mode for Binance?
You will only collect commissions for futures trading from this user if they activate a new futures account using your futures referral ID.
The base Spot referral rate will be boosted to 40% and you can choose to share 0%, 5%, 10%, 15%, or 20% with your friends if your daily average BNB account balance is 500 BNB or greater. Binance has the right to modify the Standard Referral Mode’s regulations as well as the referral percentage at any time.