Binance Trading Discount: How to Save Money with Referral ID Binance : 25920315
If you are looking for a way to save money on your crypto trading fees, you might want to consider using Binance, one of the largest and most popular cryptocurrency exchanges in the world. Binance offers a variety of features and benefits for its users, including low fees, high liquidity, multiple trading options, and security.
But did you know that you can also get a discount on your trading fees by using BNB, the native token of Binance? And did you know that you can get an additional discount by using a referral ID when signing up for Binance?
In this blog post, we will explain how you can use these two methods to reduce your trading fees on Binance and save more money.
What is BNB and How Does It Work?
BNB is the utility token of Binance that powers the ecosystem of the exchange. You can use BNB for various purposes, such as paying for trading fees, participating in token sales on Binance Launchpad, voting for new coins on Binance Community Coin Vote, and more.
One of the main benefits of using BNB is that it gives you a discount on your trading fees. By default, Binance charges 0.1% for both maker and taker orders. However, if you enable the option to pay your fees with BNB in your account settings, you will receive a 25% discount on your fees. This means that instead of paying 0.1%, you will only pay 0.075% per trade.
The amount of discount depends on how long you have been using BNB. The longer you use it, the lower the discount rate will be. The following table shows the schedule of the discount rate over time:
| Year | Discount Rate |
|---|---|
| 1st year | 50% |
| 2nd year | 25% |
| 3rd year | 12.5% |
| 4th year | 6.75% |
| From 5th year onwards | No discount |
However, even without the discount, using BNB has other advantages. For example,
- It reduces your exposure to market fluctuations by converting your fees into a stable asset
- It increases your chances of winning rewards and incentives from various campaigns and promotions
- It supports the development and growth of the Binance ecosystem
Therefore, it is still worthwhile to use BNB for paying your trading fees on Binance.
What is Referral ID and How Does It Work?
Another way to save money on your trading fees is by using a referral ID when signing up for Binance. A referral ID is a code that links you to an existing user who invited you to join Binance. By using their referral ID,
- You will receive a kickback rate (a percentage of their commission) from their referral fee
- They will receive a commission (a percentage of your fee) from your trading fee
The default kickback rate is 20%, which means that if you use someone's referral ID,
- You will pay only 80% of your fee
- They will receive 20% of your fee
However,
- The kickback rate can vary depending on how much they share with you
- The commission rate can vary depending on their VIP level (which depends on their trade volume or holdings)
The following table shows how different VIP levels affect
the commission rates:
| VIP Level | Maker Commission Rate | Taker Commission Rate |
|---|---|---|
| VIP0 | Default:10%; Maximum:20%; Minimum:0%; | Default:10%; Maximum:20%; Minimum:0%; |
| VIP1 | Default:15%; Maximum:30%; Minimum:5%; | Default:15%; Maximum:30%; Minimum:5%; |
| VIP2 | Default:20%; Maximum:40%; Minimum:10%; | Default:20%; Maximum:40%; Minimum:10%; |
| VIP3 | Default:25%; Maximum:50%; Minimum:15%. | Default;25%. Maximum;50%. |