Binance: $BNB The Future of Exchanges.

[flinty69]

Yea, that is a lot of new accounts being made a day. Unfortunately, they also lowered the commission that we get from referrals. I guess they need more money to run new servers for all the new growth.

Yes. That's a bit shit of them to lower referral commissions from 50% to 20%. Makes it hardly worth it. It's the equivalent of a crypto exchange pump and dump...on their advertisers.

Unfortunately, many users are abusing the system by creating fake accounts and scamming the system. We understand part of the reason Binance is now a premier exchange is because we provide good volume with easy sign up (no verification / ID needed for level 1 and instant accessibility). These scammers have honestly taken away from their own community by forcing us to decrease the referral commissions until we can create a better system to weed out the fake accounts abusing the referral system.

Understood. I can't even imagine how you could scam the referral system but will take your word for it.

[Binance_Angels]

BNB has calmed down a bit. Bitcoin calmed down. Binance stopped buying membership. However, when member purchases begin again, BNB may again enter a rapid uptrend.

As our users grow and we continue to roll out new trading features (especially margin trading) we are hoping the value of BNB follows in suit with our success. Many new features, partnerships, additional utility, on top of 20% total profits burning the supply will drive demand but again we are only as valuable as the market decides.

[Binance_Angels]

Yea, that is a lot of new accounts being made a day. Unfortunately, they also lowered the commission that we get from referrals. I guess they need more money to run new servers for all the new growth.

Yes. That's a bit shit of them to lower referral commissions from 50% to 20%. Makes it hardly worth it. It's the equivalent of a crypto exchange pump and dump...on their advertisers.

Unfortunately, many users are abusing the system by creating fake accounts and scamming the system. We understand part of the reason Binance is now a premier exchange is because we provide good volume with easy sign up (no verification / ID needed for level 1 and instant accessibility). These scammers have honestly taken away from their own community by forcing us to decrease the referral commissions until we can create a better system to weed out the fake accounts abusing the referral system.

Understood. I can't even imagine how you could scam the referral system but will take your word for it.

Whales can create multiple lvl 1 accounts. Instead of sending 1000 BTC to one account they spread out multiple BTC to several fake accounts. From these fake accounts they start trading in volume so each account can give each other commission. This is just one example that was happening.

Instead of making the entire community suffer we realized we can not punish everyone for a few bad apples but at the same time we can not let this exploit hurt the business. I hope you all understand from a business perspective. We are trying to balance customer satisfaction while maintaining good structure.

[flinty69]

Yea, that is a lot of new accounts being made a day. Unfortunately, they also lowered the commission that we get from referrals. I guess they need more money to run new servers for all the new growth.

Yes. That's a bit shit of them to lower referral commissions from 50% to 20%. Makes it hardly worth it. It's the equivalent of a crypto exchange pump and dump...on their advertisers.

Unfortunately, many users are abusing the system by creating fake accounts and scamming the system. We understand part of the reason Binance is now a premier exchange is because we provide good volume with easy sign up (no verification / ID needed for level 1 and instant accessibility). These scammers have honestly taken away from their own community by forcing us to decrease the referral commissions until we can create a better system to weed out the fake accounts abusing the referral system.

Understood. I can't even imagine how you could scam the referral system but will take your word for it.

Whales can create multiple lvl 1 accounts. Instead of sending 1000 BTC to one account they spread out multiple BTC to several fake accounts. From these fake accounts they start trading in volume so each account can give each other commission. This is just one example that was happening.

Thank you for the explanation. Very helpful. Hoping you guys can figure out a way to sort out the referral system but still make it profitable/worthwhile for your advertisers.

[flinty69]

I just noticed that Binance temporarily started accepting new registrations once again! This is one of the best exchange around guys so sign up whilst you can.

Be quick and please use my link.. it's appreciated!

Go here .. www.binance.com/?ref=12817539

[fethan]

you can use my link thanks in advance

https://www.binance.com/?ref=11393730

[armutkafa]

Have to agree with you. It’s a very big force in asian community and we saw that it had to disable new user registration for a short time due to overwhelming numbers of users. If their developers can improve the exchange binance and bnb will be the top exchange.

[revepatro]

As our users grow and we continue to roll out new trading features (especially margin trading) we are hoping the value of BNB follows in suit with our success. Many new features, partnerships, additional utility, on top of 20% total profits burning the supply will drive demand but again we are only as valuable as the market decides.

since you're here & binance never bothered to reply my question, could you tell me plz how is that "FIRST YEAR" (for reduced fees) determined ? Is it relative to each users registration or relative to Binance launch ?
ie if Binance started public trading, say, May 2017 (didn't check) and I registered in Dec. 2017, that BNB fee discount will lower in May 2018 or Dec. 2018 ?

[premium_domainer]

If idiots continue to post their referrals here probably this thread will be deleted.

At least they will be banned either so it would be a consolation for us.

[MiXxe]

I like binance exchanges and also its BNB coin it has a lot of growth now and i've heard they only accepting coins that have real products so its so nice. I only don't like the referral which use to fraud some people.

[nydiacaskey01]

I don't think there is 200k new account being made daily.

But it is annoying to wait for registration opening time. But in time they will probably clear limitations.

Mr CZ himself posted on his twitter account that they handled 250,000 new registrations in 24 hours that why they decided to close the registration temporarily to catch up with the back log. The 50% referral commission is the driver of this sudden surge of new registration thats why of you guys notice, they lowered down the referral commissions from 50% to 20%.

[flinty69]

I don't think there is 200k new account being made daily.

But it is annoying to wait for registration opening time. But in time they will probably clear limitations.

Mr CZ himself posted on his twitter account that they handled 250,000 new registrations in 24 hours that why they decided to close the registration temporarily to catch up with the back log. The 50% referral commission is the driver of this sudden surge of new registration thats why of you guys notice, they lowered down the referral commissions from 50% to 20%.

Top referrers on other social communities (Reddit, Twitter) seem to be pretty offended at the 20 percent commission saying its not worth the effort. They are turning to advertising other more profitable exchanges. I wonder if this will affect binance popularity?

[devis]

I can see that happening. Cross your fingers!

[Master_dandosha]

After polo and bittrex bans a lot of members without prior notices just to follow US rules and regulations people start to figure out which one is the best and binance is the future because of its geographical location where no restriction or banning without clear reasons .

[publicjud]

BNB has a very interesting idea and good marketing. The coin makers very cleverly came up with a way to sell this coin. Each player on the exchange buys this coin in order to reduce the transaction commission. And this brings a great popularity to the coin. It's just a perfect plan!

[Kubra Dam]

BNB has a very interesting idea and good marketing. The coin makers very cleverly came up with a way to sell this coin. Each player on the exchange buys this coin in order to reduce the transaction commission. And this brings a great popularity to the coin. It's just a perfect plan!

They acquaired a huge amount of newcomers and they closed the registrar system for the new participants. This is something showing that Binance exchange is very popular, probably the most popular exchange at the moment. It will develop much more.

[Ganglo Saxon]

BNB has a very interesting idea and good marketing. The coin makers very cleverly came up with a way to sell this coin. Each player on the exchange buys this coin in order to reduce the transaction commission. And this brings a great popularity to the coin. It's just a perfect plan!

They acquaired a huge amount of newcomers and they closed the registrar system for the new participants. This is something showing that Binance exchange is very popular, probably the most popular exchange at the moment. It will develop much more.

You're correct.  Currently #1 on Coin Market Cap by more than $2.1bn USD!:

https://coinmarketcap.com/exchanges/volume/24-hour/

[premium_domainer]

I don't think there is 200k new account being made daily.

But it is annoying to wait for registration opening time. But in time they will probably clear limitations.

Mr CZ himself posted on his twitter account that they handled 250,000 new registrations in 24 hours that why they decided to close the registration temporarily to catch up with the back log. The 50% referral commission is the driver of this sudden surge of new registration thats why of you guys notice, they lowered down the referral commissions from 50% to 20%.

Top referrers on other social communities (Reddit, Twitter) seem to be pretty offended at the 20 percent commission saying its not worth the effort. They are turning to advertising other more profitable exchanges. I wonder if this will affect binance popularity?

It won't.

It was expecting actually. Also they are the biggest exchange and also the most trusted one. No-one will leave here just they are paying lower money for referrals.

[bribed]

I don't think there is 200k new account being made daily.

But it is annoying to wait for registration opening time. But in time they will probably clear limitations.

Mr CZ himself posted on his twitter account that they handled 250,000 new registrations in 24 hours that why they decided to close the registration temporarily to catch up with the back log. The 50% referral commission is the driver of this sudden surge of new registration thats why of you guys notice, they lowered down the referral commissions from 50% to 20%.

Top referrers on other social communities (Reddit, Twitter) seem to be pretty offended at the 20 percent commission saying its not worth the effort. They are turning to advertising other more profitable exchanges. I wonder if this will affect binance popularity?

No I dont think so. Binance already has reached a popularity level that isnt in need of any reddit refferers anymore in my opinion. They have created a big enough awareness for their exchange so that almost everybody who is into crypto has eighter heard of them or is already registered.

[phantomberg]

I wanted to buy this coin in order to pay a smaller commission, but this coin was too expensive for me. It seems to me that the exchange does not have the right to impose on us the purchase of this coin.