This program, which is similar to the long-standing system on Binance, includes two tiers with different referral bonuses. The first tier pays 20% of trading fees for referred users, meaning for every trade the referred user makes, the individual who referred that user will receive 20% of the trading fee paid to Binance.US.
The second tier bumps the payout up to 40% and is available to users who hold more than 500 Binance Coins (BNB), worth approximately $6,700, in their exchange wallet. Additionally, users with more than 0 BNB in their wallet receive a 25% discount on trading fees.
While Binance.US is still in its infancy, the potential of a trading fee-based referral program, as opposed to the old one-time payment, is substantial. For example, the top referrers on the Binance typically make hundreds of thousands of dollars a week.
This is the latest move by the exchange to acquire additional market share, as it currently competes against a number of popular exchanges in the United States including the main Binance platform. Binance.US currently offers 30 coins across Bitcoin (BTC), Tether (USDT) and USD markets.
You can get started with the new referral program and help support our publication by joining Binance.US through this link.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.