4.7 / 5
Rating breakdown
Binance Review and Analysis
Overview
Binance enjoys a huge popularity among online crypto exchange platforms with its main advantages being that it charges minimal withdrawal fees, while offering interested traders and investors the chance to purchase and exchange a great variety of different cryptocurrencies. Additionally, Binance affiliate and referrals schemes, both of which present very attractive and potentially highly lucrative opportunities for interested individuals.
Detailed Review
A review of the Binance Affiliate and Referrals Programs – How to make money on Binance without trading at all!
Recording an impressive average trading volume of 2 billion every day, Binance boasts the largest digital asset exchange by volume. Its extreme popularity is proven by the fact that it serves over 15 million users across the globe, through its website which is available in 16 different languages. A proponent and pioneer of the free flow of money between individuals, Binance offers a very appealing overall suite of services, which has earned the preference and trust of crypto enthusiasts and crypto traders.
In this post, we shall be discussing the Binance affiliate and referrals schemes, both of which present very attractive and potentially highly lucrative opportunities for interested individuals.
Prior to addressing the two schemes however, let us briefly overview the actual offering of Binance, to illustrate why it is a truly exceptional crypto exchange. Knowing the merits of Binance is important before deciding to join its referral or affiliation programs, since to be able to effectively and convincingly promote Binance to your followers and the crowd you can influence, you need to have an accurate picture of the strongpoints and advantages over competitors.
In a nutshell, Binance’s leading position as a blockchain and cryptocurrency platform is primarily a result of its overall offering, which stands out due to:
- Facilitating the buying and selling of hundreds of cryptos, including Bitcoin, Ethereum, Dogecoin, and Chainlink.
- Offering a Trust Wallet, which allows users to safely and easily buy, store, exchange, and earn crypto.
- Providing the buy US Dollars (BUSD) option, which is a 1:1 USD-backed stablecoin that is also approved by the New York State Department of Financial Services (NYDFS).
- Having its own proprietary cryptocurrency, namely Binance Coin (BNB), which is used on the Binance exchange not only to pay trading fees, but also to receive substantial discounts.
- Giving ample educational and training opportunities to users through the Binance Academy which contain useful and informative resources on various topics on digital currencies, trading, and finance.
- Directly impacting the society and supporting charitable and other community initiatives through the Blockchain Charity Foundation (BCF).
- Allowing the conversion and spending of cryptos at millions of accepting merchants around the world, through the use of the Binance Visa Card, issued and managed by Binance.
- Supporting and contributing towards the building of the decentralized web, by investing in dedicated technical teams through Binance Labs.
- Offering assistance and advice on the issuance and launching of new crypto tokens via the Binance Launchpad and Launchpool platforms.
- Providing analysis, information and insights to all the participants of the digital assets industry through Binance Research.
- Ensuring the easy and efficient integration of various trading applications via the Binance API.
- Offering a full suite of products which also include brokerage, margin trading, pro tools, VIP benefits, and even loans.
- The CoinMarketCap website, which is also owned by Binance, and is a leading price-tracking website for crypto assets, which users can consult at any time during their crypto trading endeavours.
The Binance Affiliate Program
As many participants in the world on online brokerages and exchanges, Binance has developed an affiliate program, which is self-hosted and relies on software that has been developed in house. The main characteristics of this affiliate program are that its CPA is calculated as the cost per transaction, the commission rate offered is up to 50%, the commissions are of the recurring type and the associated cookies have a lifetime duration. A strongpoint of the scheme is that the payout threshold is set at $0, meaning you can start receiving your earned commission amounts immediately, by using your Binance Trust Wallet, which is the program’s payment method.
The advantages of the Binance Affiliate Program
The first and foremost advantage of the Binance Affiliate program is the high payouts it offers. The way the program is structured allows the affiliate to receive commissions on the trading fees of each person they refer. The commission rate awarded ranges from 41% to 50%.
Another obvious strongpoint of the Binance Affiliate program is the absence of a commission threshold which allows affiliates to transfer their commission earnings to their wallets at any time and irrespective of the amount earned.
The fact that deep linking is available allows affiliates to create links to specific pages. This way instead of linking to a standard homepage, one can manually create deep links via the addition of your affiliate ID to the URLs you aim to promote and share with your followers and make sure you are linking and directing to specific articles or other types of content, achieving thus increased relevance and leading to higher conversion rates.
The overall high standard and wide spectrum of the Binance offering, as already showcased above, means that affiliates can feel confident in promoting such a company and sending traffic to it. The fact that Binance has consistently avoided negative publicity renders it a credible and legitimate choice in the eyes of potential users and thus facilitates the promotional efforts of its affiliates.
Finally, the existence of a full-time affiliate marketing manager ensures that Binance provides affiliate support to help its affiliates in their work and efforts. Having such support available shows Binance’s commitment towards its affiliates and makes all affiliate related processes faster and more efficient.
The cons of the Binance Affiliate Program
An obvious con which immediately strikes Binance’s prospective affiliates is the affiliate landing page which is not satisfactory in terms of the information it offers, since not enough, necessary details are clearly given regarding the affiliate program, such as for example how its payments work or what is the duration of its cookies.
Another con is that the Binance Affiliate program is not open to everyone and affiliate signup is only allowed to those who fulfil the pre-set criteria, which are:
Being a media publishing site, or being a business or organization with more than 2,000 users, or being an online community with more than 500 members, or finally having a social media account with more than 5.000 followers.
Affiliates might also find the current, in-house built affiliate marketing software not to be as expected, especially since it's dashboard is not well organized and tends to be over packed and confusing. It would have been far better if simplicity was given higher priority when it comes to the user experience of the affiliate software. Moreover, prospective affiliate program members might also resent the fact that Binance does not provide them with promotional materials in different sizes and shapes, as well as in different languages so that they could effectively promote Binance in their target markets.
Finally, a drawback is also that Binance, like other exchanges, does charge fees when money in one’s account, including commissions and affiliate earnings, are transferred out and this means that the fees applied result in the reduction of the actual commissions earned. In the absence of a cost-free way to receive commissions affiliates cannot get 100% of their commissions.
The Binance Referral Program
Besides the affiliate program, Binance also offers a referral program, which is equally potentially lucrative since it pays up to 40% in commission. Moreover, you can share your commission in the form of a discount for each person you refer.
Sharing your commission with your friends is made possible through the sharing of your referral ID and handing out a referral code, which they can use when signing up. By using this code, they are entitled to a discount on their trading fees, which lasts for life, while you also permanently earn a portion of their trading fees, in the form of a “referral ID kickback bonus”.
When you join the referrals program you get at least 20% commission that you can share with your friends and anyone else you choose to refer, while also being able to choose the kickback amount you will be receiving when they actually use your referral code. Moreover, if you hold 500 BNB or more in your account you can get a 40% commission to share, instead of only 20%. Clearly, Binance has adopted this approach in order to incentivize the use of its own crypto BNB. Besides being entitled to the 40% commission when you hold more than 500 BNB, if you choose to trade using BNB you will be entitled to save an additional 25% off your trading fees.
The Commission Structure of the Binance Referral Program
The commission structure of the Binance referrals program is based on two factors, first your daily average balance of BNB and second how much of your commission you want to share with your friends.
If your daily average BNB account balance is less than 500 BNB, this entitles you to a base commission of 20% and you can choose to share 0%, 5%, or 10% with the people you invite and share your code with.
If your daily average BNB account balance is less than 500 BNB, then your base commission entitlement is 40% and you can choose to share 0%, 5%, 10%, 15%, or 20% with others.
Binance Referral Program Conclusion
Binance's referral program is a highly lucrative choice and preferred by many due to its extreme generosity in terms of percentage commission and discounts, not only for those referring but those for those being referred.
Moreover, thanks to Binance’s very good reputation in the crypto industry and its extreme popularity, coupled with its overall attractive and competitive fee structure, finding willing referrals for Binance is greatly facilitated and the referral program leads to win-win outcomes for all involved. In fact, the Binance referrals and affiliates programs are far better in terms of payouts from almost all other competitive schemes of this nature and as such they deserve that you try them out and not miss out on their huge potential and opportunities for further savings and profits by joini