What is the Binance referral program and how does it work?

The Binance referral program is designed to reward users for introducing new traders to the platform. It operates on a straightforward principle where existing users can share their unique referral link with friends, family, or acquaintances. When a new user registers on Binance using this link and completes certain trading activities, the referrer receives a commission based on the trading fees incurred by the new user. The referral commission structure varies depending on the type of transaction. For example, the referrer may earn a percentage of the trading fees that the referred user pays. This incentivizes participants to promote the Binance platform, as the more trades the new user makes, the greater the potential earnings for the referrer. Additionally, the new user can often benefit from reduced trading fees or other promotions associated with using a referral link. To get started in the referral program, users can log in to their Binance account, navigate to the referral section, and generate their unique referral link. The newly created link can be shared through various channels, such as social media, personal messages, or online communities. It is important to note that Binance may have specific rules and conditions regarding the referral program, so it is advisable for users to review relevant sections on the Binance website for the most up-to-date information, including any potential changes to the commission structure or requirements for participation.