Taken from one of the Telegram groups I am on:
Let us help you save money.
We're holding more than 500 BNB, so we are privileged to select the highest possible kickback rate (20%) on our referral link. This means YOU can get an EXTRA 20% discount on your Binance trading fees just by creating a new account ??
It doesn’t matter whether you have a big or small portfolio, those Binance fees will add up and are costing you money.
99% of you are still using an old Binance account with no fee discount, or only a 10% fee discount from a regular referral link. Our link gives you 20% of your fees back which is the highest you can get anywhere. Why would you pay Binance more than needed. Takes a few minutes, benefits you forever.
The process is simple:
1) Register a new account using this link
2) Transfer your money to your new account
3) Resume your trading
4) Enjoy an extra 20% discount on your trading fees! ??
– 100eyes Team
I would suggest to look into this before using........ANYONE can get a free referral link on Binance and you get 25% discount in fees by using BNB coins. All you have to do is own BNB and TURN ON the discount button. I showed this to our HODLNOTs in Training on Day 1 where to locate and use.
Can you advise if this is 20% MORE discount OVER the 25% discount anyone can get now?
If we can establish that.........it would be worthy to investigate but otherwise - send out your own referral link........https://www.binance.com/?ref=36574636
Always look for opportunities to INCREASE and SAVE........
I was actually also quite skeptical when I first read it but didn't do my due diligence to check if it's true! Whoops. But I did check now and....
... it seems to be true. And it seems like it's a nice trick you can do yourself, if you have 500 BNB and lots of followers. (*wink* *wink*)
Here are the detailed rules taken from Binance's site (here) (notice the parts in bold):
Binance has upgraded our Referral Program! Invite your friends to register and trade on Binance.com, and you and your friends can share up to 40% of the referral commissions from their trading fees.
Inviters can 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.
- Daily average BNB Balance Calculation Rules: here
Effective as of 2019/08/28 0:00 AM (UTC)
- 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.
- The settlement assets of referral commissions are the same as the commission fee generated by the actual transaction of the invited friend (invitee). If the invitee uses the BNB deduction fee, the settlement assets of referral commissions and referral commissions returned are BNB.
- Referral rates are calculated at 0:00 AM every day, and updated at 1:00 AM (UTC)
- In order for an invited friend to receive a kickback, they must register using the corresponding referral link (or QR code or referral ID). If they register using the old ID code of the person who invited them, instead of via the link, they will not receive any of the commission fee kickback offered to them by their inviter.
- There is no limit to the number of friends a single account can invite.
- If the inviter's daily average BNB balance is less than 500 BNB, their base referral rate will be reduced from 40% to 20%. At this time, the percentage allotted to the invited friend will be given priority, and his/her rate will remain unchanged. For instance, if the inviter's referral rate is reduced to 20% at this time, the invited friend will continue to maintain a 15% return rate, and the inviter's referral rate will be reduced to 5%.
- 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 referring 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 may adjust the proportion of referrals at any point and reserves the right to adjust the rules of the referral program.
- Binance does not allow any user to self-invite through multiple accounts. Once such activity has been detected, all referrals will be canceled and all referral commission kickbacks for the invitee’s accounts will be canceled.
- Additional guidelines of canceling the referral: here
Binance reserves the right to change the terms of the referral program at any time due to changing market conditions, risk of fraud, or any other factors we deem relevant.
So yes, if you have an account with 500 BNB in it, then it's better to be your referral than just being a referral of no one or of someone with less than 500 BNB in their account. You literally will save 20% in the long run.
Pretty cool trick, huh?
Binance makes this even cooler than I previously thought. As you enter the referral code, they immediately tell you how much you will gain additionally. Before it said 0%, but after I typed in the code, it clearly shows I get a 20% bonus:
Now I should be able to get an additional 20% if I can get my BNB amount in my account up to over 500 BNB. Not sure if I'll be doing that any time soon, but who knows, maybe eventually.
But what I still don't know is, you get 25% off if you pay using BNB. So does that mean I can get a total of 20 + 20 + 25 = 65% discount on fees? That's a pretty big discount that will quickly add up.