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How Binance kickback works – The complete tutorial!

Would you like to get a lifetime 20% discount for all trading fees? If it sounds like a great idea and a way to save extra money, let me explain how Binance kickback works.

What is Binance Referral Program?

Binance users can earn a 20% referral commission, which is 20% of the trading fees paid by their referred users if they hold under 500 BNB tokens. If a user holds over 500 BNB tokens, they earn a 40% referral commission.

Caring is sharing, isn’t it?

Now, the users can share a part of their referral earnings to their referred users as a “kickback”. A referrer earning 20% commission can give 5 or 10% commission back to the invited users, similarly, a referrer earning 40% commission can give 5, 10, 15, or 20% commission back to the invited users.

What are the rules?

Inviters can now choose to share a portion of the commissions received from the trading fees of the friends they invite, as a “kickback”. Inviters can set the sharing rates as follows:

  • If the inviter’s daily average BNB account balance is less than 500 BNB and their base referral rate is 20%, they can choose to share 0%, 5%, or 10% with the friends they invite.
  • If the inviter’s daily average BNB account balance is 500 BNB or more, their base referral rate is increased to 40%, and they can choose to share 0%, 5%, 10%, 15%, or 20% with the friends they invite.
  • All referral commissions (both those received by inviters and those shared with their invited friends) are calculated in real-time and transferred to the respective Binance accounts every hour.
  • Here you can find the daily average BNB Balance Calculation Rules.
  • Sub-accounts and margin accounts will take on the same percentage rules that apply to the spot account. For instance, the inviter will benefit from the referring of the invited friend’s sub-account and margin account. The invited friend’s sub-account and margin account will also enjoy the same rate he/she would get for a spot account. In the current set-up, the referral rate for the invited friend will be directly settled to the corresponding sub-account or margin account.
  • Binance does not allow any user to self-invite through multiple accounts. Upon such activity has been detected, all referrals will be canceled and all referral commission kickbacks for the invitee’s accounts will be canceled.

How does the referral program work?

If you are a Binance user with more than 500 BNB in your wallet, you can create referral links to share with your friends. When your friends register a new account on the exchange using your referral code, a “kickback” of 20% off all trading fees is automatically applied. This is the maximum kickback that can be offered.

The highest Binance payout is 40%. Where the highest Commission Kickback Rate that can go to the person using the Referral ID is 20%. And the other 20% goes to the person giving out the Referral ID.

In other words, if you are looking for a Binance Referral ID to use for signing up for the Binance Exchange, the highest Commission Kickback Rate that exists for you, the invitee, is 20%. Regardless of what the internet scammers try to tell you.

Once the referral code is created, the kickback rate is locked in place. So if you use the invitation link, your kickback will always be 20%, even if my Binance balance falls below 500 BNB (in that case you would get the same 20% kickback but Binance would not give me any bonus).

The trading fees aren’t very high, so getting a 20% discount probably won’t translate into a ton of cash. It could save you a few bucks though.

How is the discount calculated?

The standard trading fee on Binance is 0.10% per trade. When you hold Binance Coin you will save 25% on every trade. So you only pay a 0.075% fee over every trade. If you do a single trade of $ 1.000, you will pay a $ 0,75 fee. With our Binance referral ID activated you will get a cashback of 20% of this amount. It means that the exchange will refund $ 0,15 to your account. You can imagine if you trade high volumes that you can save a substantial amount of money on fees.

How can I check if the commission rate of the Referral ID?

The program sounds great on words, but how can you check that it is true and not some kind of scam? You can easily validate the referral code on the official Binance site. So here is what you need to do:

  1. Open registration page on Binance (make sure that you are logged out.)
  2. Fill in the referral id you want to check in the ‘Referral ID (Optional)’. E.g. our referral code is N7HTYTIN.
  3. A new line will appear directly below the code, saying “Your commission kickback rate: X%”. If the referral code really works, you will see 20% here. Watch out for codes that don’t offer the full kickback of 20%, or you will be losing unnecessary money.

How to apply the kickback?

This discount only works with the new registration. What does it mean? Well, you will need to create a brand new account if you want to get 20% of your trading fees.

Here is a step-by-step guide:

  1. Follow our referral link to register a new account or manually fill in the code N7HTYTIN in the ‘Referral ID (optional)’ field when you open the Binance website, Registration page.
  2. Make sure that “Your commission kickback rate: 20%” appears below the referral code.
  3. Create a new account and verify it if desired.
  4. Fund your Bitcoin wallet with some coins
  5. Start trading from your new account. The 20% discount to your trading fees will be automatically applied to each operation.

What if I already have an account on Binance?

There are 2 possible options here depending on the type of your account:

  1. If your current account is not ID-verified, you can simply follow the steps above by creating a new account and transferring your funds.
  2. if your current account is ID-verified (KYC) you need to do the following extra steps below.:
  3. Follow our referral link to register a new account or manually fill in the code N7HTYTIN in the ‘Referral ID (optional)’ field when you open the Binance website, Registration page.
  4. Transfer the funds from your old account to your new one.
  5. Delete your old account by submitting a ticket, and apply for KYC again on your new account. Or sign up for ID-verification on your new account using a different document (e.g. drivers license vs passport).

How to check my current commission kickback rate?

  1. Open the Binance homepage on your PC.
  2. Click on your profile, and click on Referral
  3. Scroll down to the “Commission Fees Shared with You” section.
  4. Check the percent of your commission. Make sure it is a maximum of 20%. If you are not in the highest 20% category, you are losing money. I suggest creating a new account immediately using our code N7HTYTIN to get the highest commission kickback possible.

Does this referral program apply to Binance.US?

Unfortunately, no. This Binance Referral id is valid only for the regular Binance exchange and not for the US subsidiary.

On the other hand, Binance US has recently launched its own referral program to save money on trading fees. However, we do not have a referral link for you there. The only place where you can use our Binance referral is on Binance.com

Summary

Binance is a great place for crypto traders. The platform is huge and available almost all over the world. And they want even more traders to join them. That’s why the Referal program was introduced to provide extra discounts for all trading fees forever. Don’t miss this chance.