If you’re looking to start trading cryptocurrencies at the largest crypto exchange in the world, this post on Binance referral code is for you.
You’ll learn how you can get a lifetime fee discount of up to 45% on all your crypto trades when you sign up with this Binance referral code “LEXWK5H0”.
In addition, you’ll also have the chance to get a bonus of $100 by completing simple tasks.
A Binance review is also provided covering its products and services, fees and pricing, whether the Binance platform is safe and many more.
Binance Referral Code
By signing up using this Binance referral code, LEXWK5H0, new Binance users get a lifetime fee rebate of 20% when they trade cryptocurrencies on the platform.
Getting started is simple and easy. You’ll be required to verify your account and identity, but it doesn’t take too long.
In addition, you can get an extra 25% off when you pay using the Binance Coin (BNB), a digital coin developed by Binance and the crypto community.
You can learn more about the Binance Coin in details below.
How Binance Referral Program Works
The Binance referral program is quite generous compared to other crypto platforms out there.
It lets new users save on transaction fees, while earning a share of the commissions generated from any friends they refer.
First, make sure you sign up using a Binance referral link or enter the referral code when prompted for it. The discount you’ll get will be shown like in the picture below.
Once you’ve signed up, the discount will be applied to all your trades on the platform
Next, you can earn even more by referring your friends to the Binance platform. Whenever they trade on Binance, you’ll get a share of the commissions.
How do you get your Binance referral code?
To get your unique referral code, click on the profile icon while logged into your profile. Next, click on Referral to reveal your referral dashboard.
Scroll to the “Your referral link list” section and click “Generate your link”.
Note the default referral link pays 20% to you and 0% to your friends. That is, you can choose to keep the entire commission to yourself.
But what’s the fun in that? The Binance referral program is designed to be a win-win for you and your friends.
You can choose to give your friends 5% while you keep 15% of the base commission rate of 20%. Or share it equally as 10% each.
The base commission rate of 20% applies for users with a daily account average balance less than 500 BNB. For 500 BNB or more, the commission rate goes up to 40%.
And you can share up to half of it or 20% with your friends.
Binance $100 Promo
By signing up using our exclusive Binance referral link or promo code “LEXWK5H0“, you’ll automatically receive 3 simple tasks to complete to earn up to a sign up of $100 from Binance.
The 3 tasks and the applicable bonuses are shown in the table below:
|First Fiat or P2P Deposit of ≥ 50||$5 cash voucher|
|First Crypto Deposit ≥ 50 within 5 days||$50 cashback voucher|
|Spot Trading ≥ 50||$45 cashback voucher|
You can learn more about the offer here.
But getting started is simple:
- Open an account using our referral link
- Verify your identity to start buying crypto
- Complete the 3 tasks
- Earn the rewards
Binance is not just one of the most popular crypto platforms in the world, it is the largest crypto exchange with an average daily volume of 2 billion units traded and 1.4 million transactions per second.
Total transactions on the platform are valued at more than $18 billion daily.
Binance is a Caymans Island based crypto platform that was founded in 2017 by Changpeng Zhao.
It is available in most countries and users can buy crypto using their local fiat currencies or by depositing another crypto asset.
The global Binance platform, Binance.com, is not available in the U.S.A but US residents have Binance.us that offers similar offering.
You can access Binance in most provinces in Canada too, but it is no longer available to Ontario residents.
Binance has its own blockchain platform with its own native coin called Binance Coin (BNB).
The coin has several use cases. With its partnership and integration with several other platforms, you can use BNB to pay for hotels, entertainment, and many other services.
More importantly, you’ll get a 25% discount on the trading fees on Binance if you use your Binance Coin holding to pay.
There are currently about 168 million Binance coins in circulation. The coins in circulation are reduced quarterly, or burned so as to keep and increase the value of the coin.
Binance Coin currently trade at $339 (at the time of writing) with a market cap of $57 billion, making it the 4th largest cryptocurrency based on market capitalization.
Here’s a summary of the key facts about the Binance Coin (BNB) and the current market price:
- Max Supply: 168,137,036
- In circulation: 168,137,036
While the crypto exchange is its main offering, Binance offers several other products and services on its crypto platform.
Some of these include:
Binance Visa Card: Zero fees and up to 8% cash back on your purchases at more than 60 million merchants worldwide or anywhere Visa is accepted.
Trust Wallet: a secure crypto wallet that lets you store your cryptocurrencies and NFTs. You can easily buy crypto on the app too and earn interest on your holdings.
Binance Pay: Shop, pay and get paid with crypto. Sending money or crypto to friends and family is also possible with the app.
Binance Academy: Learn about cryptocurrencies, blockchain and how to start trading or investing in digital assets.
Binance offers one of the lowest crypto trading fees around.
For spot trading, the trading commission starts at just 0.1% for both the maker and taker if you’re on the first level.
This first level is called VIP0 for those that trade below 50 BTC in the last 30 days.
Your level gradually increases to as high as VIP 9 when you trade more than 150,000 BTC and hold a minimum of 11,000 BNB.
With a VIP 9 level, you’re only paying 0.02% maker fees and 0.04% take fees.
But you can save even more on the trading fees by paying for your crypto trades using Binance Coin “BNB”.
With this discount, you would be paying just 0.075% in taker and maker fees for the first level.
And pay even lower through the referral kickback of up to 20% you got during signup using a Binance referral code.
Is Binance Safe?
Back in 2019, Binance had a major hack where 7,000 bitcoin worth about US$40 million was stolen.
Binance reimbursed its customers and has added several security measures including 2-factor authentication since then.
But with no central authority regulating or holding cryptocurrencies, the safety of your digital assets is up to you.
The best ways to ensure your hard-earned money is safe on a crypto exchange is to:
- fund your account only when you’re ready to trade i.e. don’t keep fiat currency on the exchange
- Move your crypto assets to a cold-wallet
Is Binance Legal?
Binance activities in the crypto space are not regulated by any central authority.
But governments worldwide have started to crack down on crypto exchanges that are not registered and regulated.
Binance recently pulled out of Ontario, Canada to avoid registering as a regulated exchange by the Ontario Securities Commission.
In the UK, the Financial Conduct Authority (FCA) ordered Binance to stop all regulated activities in June 2021.
And it was banned in the US back in 2019. But now operates Binance.us, which is a regulated exchange that is registered with the Financial Crimes Enforcement Network (FinCEN).
Binance Alternatives in Canada
If you’re in Canada, here are some of the best Binance alternatives:
- Wealthsimple Crypto
Newton is fast becoming the best crypto exchange in Canada for altcoins.
By signing up to Newton, you get a combination of low fees and the largest selection of cryptocurrencies in Canada.
Bonus: Get $25 when you sign up here and trade a minimum of $100.
National Digital Asset Exchange Inc. (NDAX) is a Calgary based digital currency exchange and cryptocurrency trading platform that was founded in 2017.
It currently supports more than 10 digital coins and has a trading fee of 0.2%.
Bonus: Get $10 when you sign up and trade $100.
Shakepay is arguably the most beginner friendly crypto app in Canada.
It only supports bitcoin and Ethereum trading at the moment. So unfortunately, you’ll have to combine it with other crypto exchanges as your needs change and you become a more seasoned crypto investor.
Bonus: Get $10 sign-up bonus here.
Available within the Trade app, Wealthsimple Crypto is the crypto exchange from Wealthsimple.
Features are currently limited. For example, it’s a closed system so you can’t withdraw your crypto assets.
But it now supports 20+ digital coins – a good selection for most Canadians.
Bonus: Get 2 free stocks of up to $4,500 when you sign up for the Wealthsimple Trade app to get access to the crypto platform.
Some FAQs: Binance Referral Code
Can you use a Binance referral code after you’ve registered?
You must either use a referral link or enter a Binance referral code (LEXWK5H0) when signing up for a Binance account the first time. Unfortunately, you won’t be able to use a referral code afterwards.
When logged in, click on the profile icon on the top right side of the screen. Then click on referrals to open the referral dashboard. You’ll see the link to copy the default referral link and code or create new ones. You can create up to 20 different Binance referral codes and links.
The Binance referral not working?
It could be because you did not enter the right code or used a referral link. You’ll see the commission kickback rate you’ll get if the referral code you entered works.
What is the Binance referral bonus?
The Binance referral program gives you a life-time rebate on all your trading fees on the platform. The bonus can be as high as 20%. Plus you can get extra bonus by paying with the Binance coin.
What is the best Binance referral code in 2021?
The best Binance referral code (LEXWK5H0)gets you a 20% discount on the trade commission when you sign up. In addition, you get an extra 25% for paying with BNB for a total discount of 45%.
Is Binance legal?
Binance is legal in Canada except in Ontario. The crypto exchange recently pulled out from the province and existing users have till the end of 2021 to close their accounts.
Is Binance safe in Canada?
Binance is as safe as any other crypto exchange. As long as you follow the best practices with crypto assets, you should be fine. That means, buy the cryptocurrencies on the platform, then move it to your hardware wallet offline.
Binance is not only the largest cryptocurrency exchange in the world, it also offers one of the overall cheapest ways to buy hundreds of digital currencies.
If Binance is legal in your jurisdiction, you should definitely give it a try.
Where possible, you should combine it with the local exchanges in your location to quickly fund your account with crypto and start trading.
In Canada for example, you can buy a stablecoin on Newton or NDAX, then transfer to Binance to buy one of the cryptocurrencies you would otherwise not have access to.
Binance Referral Code & Bonus
Get up to a lifetime bonus of 45% when you sign up using this Binance referral code, LEXWK5H0.