Users of the exchange not only have access to exchanging fiat currency for crypto, but also the ability to utilize their crypto to its fullest potential.īinance offers a lot in the way of features, so let’s go through the major categories that Binance operates in and what users can do in each one. Nowadays, Binance is pretty much a complete financial institution in itself. However, it has been one of the first to roll out new features as the crypto and DeFi ecosystem has progressed. In fact, Binance is almost always used as a benchmark when talking about other exchanges.īinance initially began as a simple cryptocurrency exchange. Those who know even a little bit about crypto will know that Binance is one of the largest and most respected crypto exchanges out there. As such, users must be able to prove that they have a platform through which they can invite a large number of people to the platform. The affiliate program is for people or organizations with a large following. There is an application process that users must go through. The other major difference is that not anyone can become a Binance affiliate. This 10% higher commission rate can make a huge difference over the long run, especially considering that it applies to all the trades made by all the referrals. ![]() The biggest difference between the two is that the commission rates are capped at 50% for Binance affiliates instead of 40%. For their trouble, they earn a commission on the trading fees. Users get a referral code that they can send out to invite people to the platform. For the most part, it is just like the referral program. The Binance affiliate program is the second way for users to earn free crypto by referring people to the exchange.
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