What is a Binance Inviter (Optional)?
During the registration process on Binance, you’re asked if you have an Inviter. An Inviter is someone who referred you to join Binance. If you select ‘YES’ and enter the referral code ASYQFPUG in the provided field, you’ll receive a 20% discount on all fees and exclusive benefits.
The image bellow is the current “Binance Inviter” field:
What is the easiest way to sign up at Binance with an invite code?
For beginners who like convenience, the easiest way to enter the Binance Referral ID is to click on this link to sign up: Binance Register. This way, since the registration link already contains the code, you just need to create your account as usual, without having to enter any code, as it will already be saved and associated with your account.
I created my account with the reference code. Now what?
After creating your account, you can make a cash deposit to start buying your first cryptocurrencies. Binance offers over 500 different cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polygon (MATIC), Dogecoin (DOGE) and many others.
After buying your cryptocurrencies, if you want to hold on to them for the long term, we recommend that you transfer your coins to a personal wallet, as this is one of the great advantages of cryptocurrencies, they allow you to do your own custodianship, without having to rely on Binance anymore!
Using the Binance exchange for cryptocurrency trading and investment carries several risks:
Market Risk: The most significant risk involves the inherent volatility of the cryptocurrency market. Prices of digital assets on Binance can fluctuate wildly in short periods, leading to potential losses. This volatility is driven by various factors, including regulatory news, technological advancements, market sentiment, and broader economic factors. Traders and investors must be aware that the value of their investments can decrease rapidly, potentially leading to substantial losses.
Security Risk: While Binance employs robust security measures, no platform is immune to the risk of cyber attacks. Users must be vigilant in securing their accounts, using features like two-factor authentication, and being aware of phishing attempts. There is also the risk of losing access to your account if you forget your credentials or lose access to your two-factor authentication method.
Regulatory Risk: The regulatory environment for cryptocurrencies is still evolving. Binance, operating in multiple jurisdictions, faces varying regulations that can impact users. Changes in regulations can lead to sudden restrictions on trading certain assets, impacting the liquidity and value of holdings. Users must stay informed about the regulatory landscape in their respective countries and understand how it affects their trading and investment strategies on Binance.
Operational Risk: Binance, like any other exchange, can face operational issues such as system downtimes, which can be critical during high market volatility. During these periods, traders might not be able to access their accounts, execute trades, or withdraw funds, leading to potential losses or missed opportunities.
By understanding and managing these risks, users can make more informed decisions while using Binance for their cryptocurrency dealings. It’s crucial to undertake thorough research, employ risk management strategies, and invest only what one can afford to lose.
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Futures Market Referral Inviter
Many users search Binance Futures Referral Code. Actually, when you create your account at Binance, you will have access to both the spot market and the futures market. There is no need to create two separate accounts. The same Binance Referral ID ASYQFPUG can be used for Binance Futures in 2024.
Next Steps after registering the referral code
Now that you’ve signed up for Binance using a referral code, the next step to ensure you get the most benefits (extra USDTs) is to complete identity verification.
Within your account, Binance will refer to these as tasks, and you can track the total USDT unlocked after completing each step. Be sure to do this soon (within a few days) so you don’t miss out on these bonuses, that can be as high as $600 depending on some factors.
What has changed in 2024?
Previously, this field was called the “Binance referral code”. Currently, Binance has changed the name to “referral ID” and sometimes call it “Binance invite” but the logic remains the same. The maximum discount is still 20% on all transaction fees.
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Different types of referral and codes
There are mainly two types of codes, which may cause some confusion:
The Standard Referral program is the referral code during signup, new users are typically welcomed with a delightful sign-up bonus just for joining. As part of the referral benefits, users also enjoy a reduction in trading fees. This creates an enticing package for those who trade frequently, promising a more cost-effective and rewarding trading experience.
Lite Referral codes are linked to Binance’s special promotional campaigns, offering unique incentives such as a chance to win a specific cryptocurrency bonus. Unlike the Standard Referral, these Lite codes are active only for the duration of the promotion and may include certain criteria that users must meet to qualify.
BUSD was once the standard stablecoin within Binance, paired 1:1 with the dollar and its financial custody handled by PAXOS. This setup was in place when Binance worked with various stablecoins like USDC and USDP (when users transferred USDC or USDP to Binance using the Ethereum network, their tokens were automatically converted to BUSD, facilitating trades within Binance as if using dollars).
However, this dynamic has since changed. Binance no longer automatically converts USDC and USDP to BUSD. Furthermore, the BUSD token has been retired following regulatory pressures. Despite these changes, it’s important to remember that USDP and USDC remain operational, known for being more regulated and secure stablecoins. When considering withdrawing your dollars as cryptocurrency, these stablecoins are still recommended options.
Making Your First Deposit
After successfully creating and verifying your Binance account, you’re ready to make your first deposit. This process is simple and seamless, ensuring that you can start trading and investing in your favorite cryptocurrencies quickly. Here’s a guide to help you through the process:
Identity Verification (KYC): Unlocking the Full Binance Bonus
Once you’ve chosen your referral route and created your Binance account, it’s crucial to unlock all the features and security the platform offers – and that begins with completing the Know Your Customer (KYC) verification process. KYC is a critical step in maintaining a secure and legitimate exchange environment, safeguarding your account against fraudulent activity.
Starting the KYC process is straightforward:
Once the necessary information and documents are submitted, it’s up to Binance’s verification team to review your application. Although it may take some time based on the number of incoming requests, rest assured that Binance will send a notification once your account verification is complete.
As a reward for completing the KYC verification, Binance credits USDTs to your account as a sign-up bonus – a warm welcome to the Binance ecosystem and a little extra to kick-start your trading.
