BINANCE
WHAT IS BINANCE?
Binance is cryptocurrency exchange witch is the largest exchange in the world in terms of daily trading volume of cryptocurrencies.
The Binance Exchange is a leading cryptocurrency exchange It features a strong focus on altcoin trading. Binance offers crypto-to-crypto trading in more than 500 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance coin (BNB). In 2018, it moved its company headquarters to Malta, EU, in response to China's strict regulations on crypto exchange businesses.
KEY TAKEAWAYS
Binance is an online exchange where users can trade cryptocurrencies. It supports most commonly traded cryptocurrencies.
Binance provides a crypto wallet for traders to store their electronic funds.
The exchange also has supporting services for users to earn interest or transact using cryptocurrencies. It also offers programs for miners and to help traders make investment decisions.
Binance has its own blockchain-based token, Binance Coin (BNB).
CRYTPOCURRENCIES
Throughout its history, the company has launched two cryptocurrencies which it developed itself: Binance Coin (BNB), launched June 2017, and Binance Smart Chain (BSC), launched September 2020. Binance Smart Chain operates using "Proof of Staked Authority", a combination of proof of stake and proof of authoryty. It has 21 approved validators. As of 2021, Binance Coin was the cryptocurrency with the third highest market capitalization. Binance allows its users to pay fees on its exchange with Binance Coin.
Like other crypto exchanges, Binance offers services around the trading, listing, fundraising, and de-listing or withdrawal of cryptocurrencies. Cryptocurrency enthusiasts willing to launch their own tokens can use Binance for raising funds through inicial coin offering (ICOs). Binance is used by a large number of traders and participants for exchanging and investing in various cryptocurrencies.
To start trading, users have to complete the necessary KYC requirements. Upon successful trading account creation, users can add cryptocurrency funds to their public wallet address, provided by Binance, to start trading.
The Binance exchange supports three types of trade orders: limit, market, and stop-limit orders. Limit orders are executed only at the limit price set by the trader. Market orders are executed immediately at the best available market price. Stop limit orders become valid orders only when the price reaches a specified level.
Binance offers an additional five types of orders for crypto derivatives, specifically futures contracts. These trade orders include:
1. Limit order
2. Market order
3. Stop limit order
4. Stop market order
5. Trailing stop order
6. Post only order
7. Limit TP/SL order
There is no fee charged for cryptocurrency or fund deposits. However, withdrawals do come with a transaction fee that varies depending upon the cryptocurrency and amount.
OTHER SERVICES OF BINANCE
In addition to exchange-specific services, Binance also offers other tools, platforms, and services. Some of them are as follows:
Binance EARN is a platform for staking or earning interest by depositing stablecoins with the exchange. Depending on the coin and the tenure, the exchange offers investors multiple options and interest rates for these coins.
Binance Visa Card is a credit card that allows users to convert their cryptocurrency into fiat current and spend it on products and services. While the conversion does not incur adminstrative fees, third-party fees, in the form of payment network fees, apply.
BInance smart pool enables miners to switch between different cryptocurrencies for mining to optimize and multiply their income.
Binance has a blockchain technology incubator called Binance Labs, which focuses on nurturing promising pre-ICO stage projects. It helps deserving cryptocurrency project teams by providing necessary funding for development, advisory resources, and a launchpad for any necessary listing and fundraising exercises.
Binance also offers a site called LaunchPad for hosting new and emerging blockchain projects and API interfaces.
It launched its own Binance Coin (BNB) cryptocurrency through an ICO in July 2017. BNB has a market cap of around $36.4 billion, as of March 2021. It is set to become the native currency of the decentralized Binance exchange.
BINANCE REFERALL PROGRAM
Experience a new way of earning crypto without trading by inviting your friends to join the Binance community. Invite friends and earn crypto together!
For every new user successfully referred to Binance, the referrer will receive commission on fees anytime the new referred user trades on any of Binance’s Spot (margin) or Futures markets. This means you can now freely invite users via either a Spot referral link or Futures referral link and receive the commission from both. You can also give your friends a discount on trading fees when they sign up using your referral link.
Commission and kickback/discount rate:
1. 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.
2. 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.
3. The spot rate of commission and kickback for a user referred through a Futures referral link is set as per the rate set on the ‘default’ Spot referral link.
Binance Pool is a service platform dedicated to improving the income of miners. When your friends create their accounts and start mining on Binance Pool having signed up using your referral link or code, you'll get a percentage of their pool fee income as a referral reward. In addition, you can also get transaction fee referral rewards for Spot, Margin, and Futures.
You can earn 30% commission when you invite your friends to Binance Pool. This means that you will receive 30% of the invitee’s Mining Pool fee income. The final commission rate is calculated by the total estimated profit x mining fee (2.5%) x commission rate (30%).
Are you looking for more ways to generate income with Binance? As a Binance Affiliate, you’ll have the chance to earn a steady stream of passive income and up to $72,000 in bonuses per month for introducing the world to Binance.
The Binance Affiliate Program is divided between Spot and Futures trading. The program allows you to create unique referral links that invite your audience to register and trade on Binance. If anyone clicks the link and registers, they’ll be automatically attributed as your referee. You’ll receive a commission on every trade they make, whether it’s on Binance Spot, Futures, or Margin trading, or even Binance Pool. All of this through the same link.
Who should sign up:
YouTubers, crypto community leaders, writers in media, and other content creators who are interested in becoming Binance affiliate partners and meet the following criteria:
1.Social media accounts with 5000+ followers
2.Communities with 500+ members
3.Businesses and organizations with 2000+ user base
4.All media publishing sites
How does the Binance Affiliate Program work?
STEP 1: Become a Binance Affiliate.
Submit your application by filling this form. Once our team evaluates your application and ensures you meet the above criteria, your application will be approved.
STEP 2: Create and Share your referral links.
Create and manage your referral links right from your Binance Account. You can track the performance for each referral link you share. These can be customized for each channel and for various discounts you would like to share with your community.
STEP 3: Sit back, relax and earn commission.
When someone signs up or registers an account on Binance with your referral link, you can get up to 50% commission every time they complete a trade. What are you waiting for? Join the program now.
How will your Binance Affiliate program membership be evaluated?
For each Affiliate, the referral commission rate will be adjusted first for 3 months (that is, 90 days after the adjustment date), and upon the completion of 90 days, only affiliates that meet the below-mentioned criteria will continue to receive referral commission benefits. Upon successfully meeting the minimum requirements, affiliates will receive a further 90 days extension at which time the next assessment will be conducted.
