If you are reading this, you likely have at least some interest in cryptocurrency trading. Trading crypto can be very profitable but also risky if not done correctly.
This article will review the Binance affiliate program and show how to generate passive income while trading.
Table Of Content
- 1 What Is Binance?
- 2 Binance Affiliate Program Review
- 3 Frequently Asked Questions (FAQs)
What Is Binance?
Binance in 2017 by Changpeng Zhao, but its platforms have been fully developed and operational since early 2017. Even though its popularity increased with the launch of their ICO, they managed to keep the initial rates low enough so that every user could benefit from trading cryptocurrencies.
Their corporate headquarters is located in Shanghai (China), where 90% of their employees work. The rest of 10% work either remotely or at the branch located on Hong Kong Island. They have an official Twitter page, Facebook account, and Reddit thread to follow them for regular updates regarding new features, promotions, etc.
If anything goes wrong on these social media channels, you can contact them directly via the email provided on their website.
They currently do not offer phone support, but their FAQ section is very well organized, and it will provide you with a solution to your question in most cases.
They have a beginner’s guide on the website to explain how to use their platform, which is pretty straightforward and intuitive.
To start crypto trading, you need to register at Binance Cryptocurrency Exchange. It’s a fast and easy process that takes no longer than 5 minutes.
Once registered, you will need to deposit some funds (e.g., Bitcoin, Ethereum, etc.) to trade other cryptocurrencies.
You should note that if you want to make any withdrawals or deposits, you need to provide your email address and password for security purposes since they use Google Authentication for logins (2-factor authentication).
All the cryptocurrencies exchanges do this to protect their users from hackers who try to break into their accounts using brute force methods, which are very common today.
Now let’s review the Binance affiliate program;
Binance Affiliate Program Review
Binance is a cryptocurrency exchange that had some issues in the beginning. The lack of communication and proper support made many new users leave negative feedback on social media. Still, if you consider yourself experienced enough, then this might be just what you need.
It has excellent rates, fast transactions, and a wide selection of cryptocurrencies.
The Binance affiliate program pays you 50% of your referrals’ fees for up to 1 year after they register on the platform. They have four levels in their affiliate system, so you will receive more money if you invite more people.
This way, it might be possible to generate passive income while trading crypto coins by simply sharing your referral link wherever you see fit.
- Commission Rates: Almost %50
- Comssion Type: Recurring
- Cookies Time Duration: Lifetime
- Minimum Withdraw Amount: $0
- Cost Per Action (CPA) Affiliate Program
Binance Affiliate Program Features
Good Commission: Binance has a reasonable commission rate for their affiliate program – you will receive 50% of the fees your referrals pay for up to 1 year.
Rally Period: This is an excellent feature as it increases the potential income from referrals exponentially, so now it is possible to generate even more passive income from trading!
Incentives: You will receive a bonus for every trader that you invite to the platform.
Tracking: It is possible to track your referral income directly from the platform to keep everything transparent and organized.
Referral System: Binance has four different levels in their affiliate program, making it more interesting for potential users or investors willing to promote them on social media or other places online.
They also have some rally period where the new members are required to trade specific amounts to get full benefits from trading fees; this incentive makes people join the platform and use it, thus increasing its popularity even more.
Referral Levels: You have four levels in which you can bring new people into the platform. The best thing about this system is that your commission gradually increases with every level, so there is no dead-end when generating a referral base.
Mobile App: Binance also offers a mobile app to trade cryptocurrency directly from your phone or tablet device. It’s a very easy-to-use and fully functional version of their platform. Thus, it might be a perfect solution for most traders.
Free Account: If you visit Binance at least once a month and use a trading volume greater than 0.00001 BTC, then your account will become “fundamental” thus, you will have full access to all platform features, including the ability to withdraw funds from your account.
This makes it easy for anyone to start trading without any fees attached.
- Low rates compared to other exchanges.
- Wide selection of cryptocurrencies.
- High security level due to 2 factor authentication on every account, IP address whitelisting, etc..
- Fast transactions without long waiting periods.
- Limited support, they are getting better though.
- Small variety of fiat currency deposit options. They recently announced about new EUR wallet deposit option which eliminates the need for SEPA transfers.
- No phone number to contact directly if you have any issues. All support tickets are answered within 24 hours, but only through email or online chat on their website.
All in all, Binance is a promising cryptocurrency exchange that will grow over time due to low rates, high security, and various available features.
Their affiliate program gives you a 50% share for up to 1 year from the fees generated by your referred users. It might be possible to create passive income while trading crypto coins by simply sharing your referral link wherever you see fit without much risk involved.
Tips Before Getting Started
- Here are some general rules that you should follow when promoting Binance Affiliate Program:
- Don’t spam. Spamming and flooding is prohibited in most affiliate programs and if done too often you will get banned easily.
- Use your own website or social media profiles to promote their products. No email lists, special offers or anything else that would require people to subscribe or pay for it before they can find out what is inside of the offer itself.
- Always add links back to your site so they know where you brought them from and they can return freely whenever they wish without any problems.
- Your account must use real information about yourself so you don get flagged as a spammer during the initial registration.
How To Join The Binance Affiliate Program?
- Inorder to join the Binance Affiliate Program, just follow these simple steps;
- Make sure that your account is “verified” in order to avoid any problems with withdrawals or deposits.
- Register an account at Binance
- Visit “https://www.binance.com/en” for registration form.
- Fill it out with your personal information, use valid email address so you don’t miss their confirmation email and click on “submit” button once finished.
Note: Read all terms and conditions carefully before submitting your application. Should anything be unclear, contact their affiliate team directly via private message on the official Binance Facebook page, Reddit subpage, or leave a comment below; they will surely try to answer your questions.
How Much Can You Earn As Binance Affilaite?
To answer this question, you have first to join the affiliate program and start sharing your referral link shortly after signing up.
You can do it by clicking on the “Affiliate Program” button on the left menu bar of your account page, which will redirect you to the affiliate’s dashboard.
Once there, click on the “get link” button, and a new window with a form will appear where you need to provide your email address so they can send you a confirmation message.
Also, please write your tag for future reference because every user has their unique number; thus, without it, no one else but you will be able to withdraw or deposit funds from/to your account in case something goes wrong.
Every time someone their account through your referral link and places a deposit, you will get 50% from their trading fees.
For instance, if someone deposits 100$ and trades for cryptocurrencies, the exchange rate is 0.1%, so that you will get 5$.
If their friend makes a successful deposit or withdrawal through your affiliate link again, you will get another 10$, so in total, you could earn 15$ from that single trade.
You don’t have to do anything complicated to activate this feature since it is automatically activated once you join their affiliate program, and every registered user at Binance gets a unique tag assigned to them, which is used by exchangers bots to find out if they need to share their fees with an affiliate or not.
Binance charges both its users and affiliates a 0.1% fee on every deposit and withdrawal, which applies only when bitcoins or litecoins are used as a funding source or payout option.
However, should you decide to use ethereum blockchain instead, the fees will be much lower than in the case of bitcoin and any other crypto coin.
Frequently Asked Questions (FAQs)
How Do I Get Paid?
Currently, Binance only pays out its affiliates in Bitcoins, which means you will need to provide them with your Bitcoin payment address. Your affiliate earnings will be sent and reflected under “earnings” on the left menu bar of your account page.
Is There Any Minimum Required Deposit Limit?
No, there isn’t, but keep in mind that any minimum limit could complicate things if friends or family members want to use your account to deposit or withdraw small amounts of cryptocurrency.
Is There Any Minimum Required To Withdraw Funds?
No, there isn’t; however, if you withdrawal under $5, it will cost almost one dollar in fees, which means instead of getting 5$, for example, you will only get 4$. The amount and its fees will be updated as soon as BTC price fuel changes, so one should watch those numbers before initiating a transaction.
How Long Does It Take To Get Paid?
It takes around 24 hours or less for funds to be sent to your account.
Can I Withdraw To Other Cryptocurrencies?
Yes, you can, but only if they are worth at least 2$ (whichever is higher), and the transaction fee will be deducted from the withdrawal amount, so keep that in mind before initiating a transaction.
There are some reports about non-paying users. You should take all necessary precautions (see How Safe Is Binance ) before deciding on an exchanger that supports crypto coins like ethereum or litecoin,
Are All Binance Features Available For Everyone?
No, they aren’t because their affiliate program is just one of many features available with their platform. However, it is the most important one, and you can find it under your account page tagged as “Referral Program.”
Binance is highly unlikely to shut down anytime soon since they are one of the most profitable cryptocoin exchanges available today.
I use their services and trust them with my funds, so if you want to join their affiliate program or trade at their platform, feel free to create an account and start promoting them to earn money online using affiliate marketing.