Binance Referral ID: 20% Discount and Current Code for Futures

Last updated Jun 27, 2024

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Binance Referral ID is a code or link that provides discounts on trading commissions. The discount is set by the exchange partner and varies from 0 to 20% for the spot market and from 0 to 10% for the futures market. Using the referral code UG702FNS, a new Binance user will receive a 20% cashback on commissions on the spot market. And by applying the code privatefinance when opening a futures account, you can get a 10% cashback on futures.

Binance is not just a cryptocurrency exchange, it's an entire ecosystem offering a wide range of financial instruments and services. Registering on the platform opens up a multitude of opportunities: from simple cryptocurrency exchange operations to complex trading and investing strategies. That's why it's worth taking advantage of all the benefits the exchange has to offer. Don't miss the chance to optimize your expenses and increase your income by activating the referral code.

Binance Referral ID: 20% Discount on the Spot Market

Use the referral ID UG702FNS when creating a new account on Binance and you will receive a lifetime maximum cashback of 20% on every transaction.

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How to Use Binance Referral ID

  1. Visit the Binance website. If you do not have an account yet, your first step is to visit the official Binance website.
  2. Registration. On the main page of the website, click on the "Register" button.
  3. Enter your details. Fill in all the required fields, including your email address or phone number. In the "Referral ID" field, enter the code UG702FNS. By using this code, you will receive a lifetime 20% discount on spot market commissions.
  4. Complete the registration. Verify your email or mobile phone. Follow the remaining instructions on the website to complete the registration process.
  5. Fund your account and start trading. Once your account has been created and the referral code activated, you can start trading on Binance with a 20% discount on commissions.
Registration with referral ID
Registration with referral ID

Now you can enjoy a lifetime 20% discount on exchange commissions in the spot market. This is a great way to save on transactions and increase your profits.

Binance Futures Referral Code: 10% Cashback

Use this referral ID when creating an account on Binance Futures. You will receive a 10% cashback on every trade for 30 days:

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How to Use the Referral Code on Binance Futures

  1. Platform Login. If you already have an account on Binance, log in. If you do not have an account, register on the platform using this link and then you can skip the next step.
  2. Opening a Futures Account. In the left navigation panel, select the item "Futures Account". If it is not yet open, follow the recommendations on the website to create it. During the process of creating a futures account or in its settings, find the field "Referral Code". In this field, enter privatefinance.

Important! Make sure that the code on the account opening page matches the one presented in the screenshot below:

Registration with referral ID
Registration with referral ID

With the activated referral code privatefinance, you will automatically receive a 10% cashback on trading commissions during the first month of using the futures account.

How to Get the Maximum Discount on Binance Commissions

Trading on the Binance exchange can be not only effective but also economically beneficial if you properly use the discount and preference system. By combining referral codes with paying commissions through Binance Coin (BNB), you can significantly reduce costs and increase the profitability of your operations. Next, we will tell you how to maximize your benefits on the Binance platform using these tools.

Discount on Commission in BNB

To use an additional 25% cashback for spot and 10% for futures trading, go to your personal account on this page and activate the discount.

Activation of commission discounts
Activation of commission discounts

After that, make sure you have BNB tokens available in your spot and futures wallets. If not – purchase them:

Now, by paying fees with Binance Coin, you will receive a 25% discount on spot markets and a 10% discount on USDⓈ-M futures. This will make your trading even more profitable.

Here's what it looks like in numbers:

MarketMaker (standard)Taker (standard)Maker (with discount)Taker (with discount)

This table will help you better understand the economic benefits that can be obtained by paying fees on Binance with BNB.

VIP Commission Levels

In addition to referral codes and BNB discount, Binance offers a VIP level system that can significantly reduce your trading costs. This multi-tiered system is directly dependent on the volume of your trades and assets in your account, and provides a range of significant benefits, including even lower trading commissions.

VIP Levels for Spot Market

When using the Binance Coin (BNB), you can receive an additional 25% rebate on commission (using a Binance referral ID, the discount can be up to 45%).

Level30 days trading vol. (USD)and/orBNB balanceMaker / TakerMaker / Taker BNB Discount 25%Maker / Taker BNB Discount 25% + cashback 20%
VIP 0< 1 000 000or≥ 00.1000% / 0.1000%0.0750% / 0.0750%0.0600% / 0.0600%
VIP 1≥ 1 000 000and≥ 250.0900% / 0.1000%0.0675% / 0.0750%0.0540% / 0.0600%
VIP 2≥ 5 000 000and≥ 1000.0800% / 0.1000%0.0600% / 0.0750%0.0480% / 0.0600%
VIP 3≥ 20 000 000and≥ 2500.0420% / 0.0600%0.0315% / 0.0450%0.0252% / 0.0360%
VIP 4≥ 100 000 000and≥ 5000.0420% / 0.0540%0.0315% / 0.0405%0.0252% / 0.0324%
VIP 5≥ 150 000 000and≥ 10000.0360% / 0.0480%0.0270% / 0.0360%0.0216% / 0.0288%
VIP 6≥ 400 000 000and≥ 17500.0300% / 0.0420%0.0225% / 0.0315%0.0180% / 0.0252%
VIP 7≥ 800 000 000and≥ 30000.0240% / 0.0360%0.0180% / 0.0270%0.0144% / 0.0216%
VIP 8≥ 2 000 000 000and≥ 45000.0180% / 0.0300%0.0135% / 0.0225%0.0108% / 0.0180%
VIP 9≥ 4 000 000 000and≥ 55000.0120% / 0.0240%0.0090% / 0.0180%0.0072% / 0.0144%

VIP Levels for USDⓈ-M Futures

To receive the maximum cashback of 20% on futures, use the referral ID and BNB tokens in trading.

Level30 days trading vol. (USD)and/orBNB balanceMaker / TakerMaker/Taker BNB + Discount 10%
VIP 0< 15 000 000or≥ 00.0200%/0.0500%0.0180%/0.0450%
VIP 1≥ 15 000 000and≥ 250.0160%/0.0400%0.0144%/0.0360%
VIP 2≥ 50 000 000and≥ 1000.0140%/0.0350%0.0126%/0.0315%
VIP 3≥ 100 000 000and≥ 2500.0120%/0.0320%0.0108%/0.0288%
VIP 4≥ 600 000 000and≥ 5000.0100%/0.0300%0.0090%/0.0270%
VIP 5≥ 1 000 000 000and≥ 1 0000.0080%/0.0270%0.0072%/0.0243%
VIP 6≥ 2 500 000 000and≥ 1 7500.0060%/0.0250%0.0054%/0.0225%
VIP 7≥ 5 000 000 000and≥ 3 0000.0040%/0.0220%0.0036%/0.0198%
VIP 8≥ 12 500 000 000and≥ 4 5000.0020%/0.0200%0.0018%/0.0180%
VIP 9≥ 25 000 000 000and≥ 5 5000.0000%/0.0170%0.0000%/0.0153%

VIP Levels for COIN-M Futures

For this type of futures, it is not possible to reduce the commission rate by paying fees in Binance Coin, but there is an excellent loyalty program for active traders with high volumes.

Level30 days trading vol. (USD)and/orBNB balanceMakerTaker
VIP 0< 15 000 000or≥ 00.0200%0.0500%
VIP 1≥ 15 000 000and≥ 250.0160%0.0400%
VIP 2≥ 50 000 000and≥ 1000.0140%0.0350%
VIP 3≥ 100 000 000and≥ 2500.0120%0.0320%
VIP 4≥ 600 000 000and≥ 5000.0100%0.0300%
VIP 5≥ 1 000 000 000and≥ 1 0000.0080%0.0270%
VIP 6≥ 2 500 000 000and≥ 1 7500.0060%0.0250%
VIP 7≥ 5 000 000 000and≥ 3 0000.0040%0.0220%
VIP 8≥ 12 500 000 000and≥ 4 5000.0020%0.0200%
VIP 9≥ 25 000 000 000and≥ 5 5000.0000%0.0170%

Binance Vouchers: Another Way to Reduce Commissions

Binance vouchers are specialized codes that offer various bonuses on the trading platform. From discounts on commissions to free tokens, these vouchers are a great way to save and enhance your trading activity. You can acquire them by participating in various promotions on the platform or by exchanging bonus points in the “Rewards Hub” at Binance.

Rewards Hub
Rewards Hub

How to Activate and Use Binance Vouchers?

  1. Activation. Go to the “Vouchers” section in your Binance personal account and enter the received code.
  2. Confirmation. Follow the on-screen steps to confirm the activation of the voucher.
  3. Use the bonuses. The benefits of the voucher will automatically start to apply to your account after activation.

Where to Find Binance Vouchers?

  • Promotional Offers. Binance often holds special promotions where you can earn vouchers.
  • Referral Rewards. By inviting new clients to the platform, you can also receive vouchers as a bonus.
  • Loyalty and Activity. Binance sometimes rewards active users with vouchers as a form of appreciation.

How to Check the Status of a Voucher?

To find out whether your voucher is active or what bonuses it offers, simply visit the "My Vouchers" section in the Binance Rewards Hub.

Remember that the validity of a voucher may be limited, so it's best to activate it as soon as possible to fully benefit from its advantages.

With Binance vouchers, you can make your trading on the platform even more profitable. This is a great way to maximize your profit and optimize your trading strategy.

Binance Referral Program

The Binance Referral Program is an excellent way not only to save on trading commissions but also to earn by attracting new traders to the platform. The principle of the program is simple: after registering on the Binance exchange, each user is provided with a unique referral ID, which can be shared with friends, colleagues, or subscribers. When a new user registers on Binance using your referral ID or referral link, you start receiving a percentage of the commissions that this user pays when trading. The discount for the user and your rewards can vary, but most often they amount to up to 20%.

Binance Referral Program
Binance Referral Program

If you want to actively participate in the Binance referral program and maximize your rewards, managing referral links becomes a key aspect. Here's how to do it:

  1. Log in. Go to your personal account and select the section “Referral Program”. Then select the tab “Standard Referral” and click on “Edit Settings”.
  2. Set the reward percentage. In the new window, you can set the percentage of the reward you will receive from your referrals' commissions. The standard rate is 20%, but you can change it. You can also set a cashback for invited friends at 5% or 10%, or even leave it at 0%.
  3. Motivate friends. You can show your friends how much you have earned to motivate them to join the program. For this, use the “Invite Friends” button.
Setting up a referral link
Setting up a referral link

How to Find the UID of Invited Users?

You can find information about the UID (User ID) of the users you have invited on the referral page under the list of your referral links.

You can also use the “Referrals” button, which will redirect to the list of your invited friends.

View UID of invited referrals
View UID of invited referrals

Please note that referral data is updated three times a day: at 03:00, and also from 06:00 to 08:00 Moscow time.

How are payouts calculated?

Rewards for your referrals' trades are credited every hour. You can monitor your payouts on the Binance referral program page. Here you can also download the entire history by clicking on “Export”.

If your balance exceeds 500 BNB, the rate for spot referrals will increase to 40%. Additionally, you can share with your invited friends 15% or even 20% of the commissions.

Important: To receive payouts from referrals, make sure you have active futures and spot accounts on Binance.

Benefits of participating in the Binance referral program

  1. Savings on commissions. By entering a referral ID during registration, you can reduce your costs, which is especially relevant for active traders.
  2. Additional income. For each user you refer, you receive a percentage of their trading commissions, which can become a good source of passive income.
  3. Flexibility and scalability. You can attract an unlimited number of users and thus increase your rewards.
  4. Ease of use. It's very easy to obtain and share a referral ID, and Binance provides all the necessary tools for monitoring your referral activity.
  5. Support for various trading instruments. The program applies not only to spot trading but also to futures contracts, making it even more attractive.
  6. Access to exclusive promotions and bonuses. Participants in the Binance referral program often have access to special promotions and bonuses that are not available to other users.

Frequently Asked Questions

How long will the discount on your referral code last?

Using the referral code UG702FNS you will receive a 20% cashback for spot trading with no time limit, meaning forever. And with the code privatefinance you will receive a 10% cashback when trading USDⓈ-M futures for 30 days.

How to apply a referral code to an existing account?

If you already have a previously created account on Binance, you can try to apply the promo code privatefinance for opening a futures account in this section, if it has not been opened yet.

Otherwise, we recommend creating a new account with another email using our referral code UG702FNS and undergo identity verification on it. If you have already completed verification on an existing account – contact Binance support via online chat (most likely, you will need to close the old account and open a new one, activating the lifetime cashback on it).

How is the discount calculated (using the spot market as an example)?

The standard commission on Binance spot is 0.10% per transaction. If you activate a discount using Binance Coin, you save 25% on each transaction. That is, you pay only 0.075% commission per transaction. If you make a transaction for $1000, you will pay $0.75 in commission.

And with our activated referral ID, you will receive a cashback of 20% of that amount. Binance will return $0.15 to your account. Imagine how much money you can save this way by trading large volumes.

Furthermore, by actively trading large volumes, you can increase your level in the Binance loyalty system up to VIP 9 and reduce the commission to minimal values. Or even make it negative and receive money to your account for each transaction (in the case of trading COIN-M futures as a Maker).

Who are Makers and Takers?

To put it simply, a trader becomes a Maker in a particular transaction if they enter the market with a limit order, clearly defining the price, and accordingly, a Taker if they execute a market order (the transaction is executed instantly, but the price depends on the offers of Takers at that moment in time).

The Binance referral link offers the opportunity to earn commissions from the trading activities of referred users. When a new client registers using a referral link, the participant receives a portion of the commissions charged from their trades, which encourages the distribution of the link and the attraction of new clients to the exchange.

Our Opinion: Is It Worth Using the Binance Referral ID?

The Binance referral code is not just a marketing gimmick, but a real opportunity for traders to improve their financial performance. Over several years of working with various cryptocurrency exchanges, Binance has always stood out for its transparency and generosity towards its users. Therefore, when it comes to a lifetime cashback of up to 20% on every transaction, it's no joke.

As for additional discounts when using Binance Coin to pay for trading expenses, it's simply “the icing on the cake”. We have activated this option ourselves and indeed noticed significant savings. A 25% discount for spot trading and 10% for futures may not seem like much at first glance, but over time these percentages accumulate into a substantial sum.

So if you, like us, are seriously involved in crypto trading and are looking for ways to optimize your expenses, the Binance referral code can be your faithful assistant on this path. Considering all of the above, we strongly recommend not to miss the opportunity and to use the referral ID when registering on Binance.

Referral Codes of Other Crypto Exchanges

If you want to start trading on crypto exchanges with a benefit, we have something to offer. Don't miss our exclusive bonuses from the best crypto exchanges. Choose the best conditions for yourself and start trading on favorable terms.

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Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.