Many crypto investors will be familiar with Binance exchange, which alongside Coinbase and eToro is among the largest, most trusted online crypto exchanges, founded in 2017.
Not all sign ups will have been aware there’s a Binance sign up bonus and trading fee discount however, as these are only available through certain registered affiliates.
Current Binance Bonus & Referral Code
New sign ups need to use an eligible referral link, or manually enter a current Binance referral code, also known as a referral ID. For this website, B2C, that referral code is 49241604.
Use Binance referral code 49241604
Binance allows clients to open a second account providing they only take advantage of one referral bonus, i.e. don’t abuse the Binance bonus system – it’s common for users to need to open a second account if they lose e.g. access to their original email, or want to run a trading bot on a separate account.
Users on crypto Reddit threads report being able to open a second Binance account, as long as they use a different email and KYC (know your customer) verification document – for example their drivers license if their first account used their passport as the ID requirement.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
What is the Binance Sign Up Bonus
As explained on the Binance website, the Binance referral bonus is:
‘A special welcome offer as a thank you for choosing Binance. After signing up, new users must complete their tasks within 7 days to qualify for our Welcome Offer rewards. Please note you must be referred by an affiliate registered with this campaign to qualify for the sign-up bonus.’
Its value is up to $100 or the equivalent in your currency, users can open accounts in USD, EUR, GBP and a range of other fiat currencies as Binance exchange accepts signups from countries across the world.
$5 Cash Voucher
The first part of the up to $100 Binance bonus is $5 in cash which is credited to your balance when you make a first-time deposit of $50 or more, using either the fiat payment methods or by making a P2P (peer to peer) purchase in the Binance P2P marketplace to buy crypto.
Click on your account icon and ‘reward center’ from the drop-down menu after logging into your account, to find and redeem your $5 voucher.
$50 Spot Cashback Voucher
The second part of the Binance referral bonus is a $50 cashback voucher awarded when you make a first-time deposit of $50 or more using crypto – for example depositing BTC or USDT that you already have on another exchange or in a crypto wallet.
$45 Spot Cashback Voucher
The third part of the welcome bonus promotion is earned when you make a first-time crypto trade of $50 or more, in spot trading. For example trading $50 of USDT to BTC or vice versa, or trading $50 of ETH.
Available bonus rewards – via Binance
Binance Referral Bonus Terms & Conditions
New users must also complete their tasks within 7 days to receive all three welcome offer bonuses – the $5, $50 and $45 vouchers which add up to $100. Cashback vouchers can be used towards trading fees, so they work as a way to get a discount on Binance fees.
Also remember to use the referral link of a registered Binance affiliate. You can either use referral links which automatically enter the referral ID for you when you sign up at Binance – or you can manually enter an eligible Binance referral code yourself.
How a Binance Referral Link Looks
B2C is a registered Binance affiliate eligible to award the $100 bonus and our Binance referral code is 49241604. Referral links appear in this format in a user’s browser window:
https://accounts.binance.com/en/register?ref=49241604
Once you have opened a Binance account, you’ll also be able to refer friends to Binance exchange and receive a commission each time they trade.
Other Binance Bonuses & Offers
In addition to the $100 Binance referral bonus, new Binance signups using an affiliate link receive a 20% discount on trading fees, for life.
This lifetime trading fee discount can quickly add up to being more valuable than the $100 Binance referral bonus if you are daytrading often – placing many buy and sell limit orders and market orders – or investing large amounts into cryptocurrency.
Binance also offers crypto staking rewards on certain coins, in its Binance Earn section, for passive income.
Free USDT or BUSD vouchers
From time to time Binance also run separate bonus promotions, for example in 2012 they offered a free 500 BUSD savings trial fund voucher. Visit the ‘Latest Activities’ and ‘latest Binance News’ parts of the website to keep up to date with time-sensitive promos.
They will also usually be sent to your email, but avoid clicking links in emails in case they are phishing scams sent by imposters – visit the Binance site directly.
How to Claim the Binance Sign Up Bonus
In summary follow these steps to activate the full $100 bonus on Binance and the 20% discount on fees:
- Click an eligible Binance referral link
- Follow the on-screen process to open an account
- Verify your identity
- Deposit $50 or more via fiat or P2P
- Deposit $50 or more via crypto
- Trade $50 or more via spot trading
Join the Binance Affiliate Program
If you’d like to considered for promoting the $100 Binance referral bonus yourself, reach out to your local affiliate manager. Typically only larger affiliates that have already referred a large volume of new customers, or had a Binance account for a long period of time can apply.
If you do join the Binance affiliate program and become eligible to promote the $100 Binance bonus, you’ll receive your own special referral link similar to that above.
Read more about crypto affiliate programs.
A Closer Look at the Binance Crypto Exchange
Binance is the highest trading volume exchange – meaning the most traders use it to swing trade and day trade, and it has listed the largest variety of cryptos, altcoins and DeFi tokens of any crypto platform.
Read our guide to the top 10 crypto exchanges, where we rank Binance exchange highly. How does it compare to other platforms in terms of its deposit bonus offer? Below is a comparison to other industry leaders.
Binance vs Coinbase
Coinbase
has a smaller deposit bonus system – you receive a free $10 worth of Bitcoin when you deposit funds and buy $100 or more of Bitcoin or any other cryptocurrency asset. Unlike the Binance promo code, you can invest, trade or withdraw your bonus rather than only use it for trading fees.
The user that referred you also receives $10, and unlike Binance its referral bonus is open to all – more of a simple refer a friend program than an affiliate program. There’s no need to refer a certain number of users.
There’s also no referral code that needs to be entered, or is automatically entered – only clicking a referral link to visit the Coinbase exchange website is necessary. An alpha-numerical string will appear as part of the referral link – in the case of B2c, that’s 5c6ab07e781d8e019da7a33c, but this is not required to be inputted.
Your referral link to refer friends once you open a Coinbase account will therefore appear something like – https://www.coinbase.com/join/5c6ab07e781d8e019da7a33c
Users in countries outside the US will see the equivalent Coinbase in their local currency – for example new signups in the UK will see a GBP equivalent, and the message:
‘You‘re invited to try Coinbase! You’ll get £7 in free Bitcoin when you buy or sell £76 or more in crypto.’
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Binance vs Crypto.com
New signups at Crypto.com receive $10 USD free when opening an account, with referral code cro10. This is automatically applied using the links on this site.
There are ways to earn a larger bonus however they require buying, locking and staking CRO, the native token of Crypto.com, to earn.
The main appeal of Crypto.com is the ability to earn crypto interest on your holdings, even on Bitcoin. The higher APY percentages however again require CRO to be staked and a minimum three month lock-up term period.
Learn more about crypto interest accounts.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Binance vs Huobi
The Huobi welcome bonus is advertised as varying between $150 to $300, depending on the exact promotion event they’re running at the time and your country of residence. US customers are redirected to HBUS where promos can differ.
It is split up into a wider variety of tasks than Binance and is also often combined with earning free SHIB or DOGE (Dogecoin).
For example at the time of writing the Huobi Global exchange homepage advertises a $150 + 20000 SHIB (Shiba Inu tokens) offer, requiring the user to register, deposit $100+, spot trade $100+, deposits $2000+, and spot trade $3000+.
So the Huobi exchange bonus, while larger, also requires more of an investment. Extra tasks also include trading futures on the exchange, creating a cloud wallet, and inviting a friend.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Binance vs Bybit
Bybit has a larger deposit bonus promo – at the of writing it is running a time limited promotion for up to $3000 in bonuses – however like Binance these can’t be withdrawn, and are mainly used as discounts on trading fees. Also spot trading is excluded, they can only be used to discount your fees when trading perpetual futures.
One difference however is that some of its welcome bonus, which is split up into increments, can be used to trade futures with, and any profits above that initial capital can be actually be withdrawn.
We recommend Binance for discounts on spot trading, Bybit for discounted margin trading, Coinbase for free Bitcoin you can invest, and Huobi for its variety of bonuses and free SHIB.
Our Bybit referral code is 25342 which like our Binance referral code is automatically applied by using the links on this site.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Binance vs eToro
eToro has a refer a friend bonus program, whereby if you refer friends after creating an account, you can earn $50 per friend once they make a trade(s) worth $100 or more.
A unique stand out feature of eToro that make it our top recommendation, more valuable than a bonus, is its copytrading functionality, known as CopyTrader.
With no hidden management fees, you can automate your trading decisions so you don’t need to monitor the crypto markets 24/7 – choose a top trader or several, the amount you wish to copytrade with, and then let the software replicate their trades.
The average annual return on investment (ROI) using this feature, of the most copied 50 traders, was 30.4% in 2021, and 83.7% in 2020. 2022 yearly performance data is not yet complete.
If you’re an experienced pro trader you can also apply to be copied yourself, through the popular investor program, and earn an income from eToro relative to the number of people that copy you.
As well as copytrading swing trades, you can also copy a portfolio allocation if you prefer long-term, low-risk investing over trading. For example eToro offers a DeFi portfolio which is a carefully selected range of DeFi coins that could increase in value as decentralized finance protocols gain more market share.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
The Verdict
The best crypto exchanges all offer various different incentives to encourage new signups, and have their strengths and weaknesses in certain areas. Many crypto investors open accounts at several different cryptocurrency exchanges to take advantage of all of them and not have all their eggs in one basket.
Binance’s strengths include low trading fees for day traders that place large amounts of buy and sell orders intraday – with only a 0.1% maker/taker fee or 0.075% when using their native token (BNB) to pay fees. Combining that 25% discount for using BNB with a 20% discount by signing up via an affiliate adds up to a 45% discount on fees.
It’s other strengths are its wide range of altcoins, being able to margin trade on leverage, and the Binance referral bonus. New signups or those opening a second account can take advantage of our Binance referral code 49241604 or use the links on this site which automatically apply that referral ID.
Its weaknesses include fewer fiat on-ramps to buy crypto than eToro, which accepts Paypal, e-wallets, and credit cards alongside debit cards and bank transfer, and has alternative ways to earn money through copytrading or being copytraded yourself.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.