Creating a new Binance account just for the sake of getting the new discount

[WickCrypto]

Binance just completely changed their fee structure: https://www.binance.com/en/support/articles/360032968351. This means you can save a lot of money while trading!

This is how it works:
- They introduced a new kind of referral link, that instead of benefiting the person from the referral link now also gives a benefit for YOU who uses that link to sign up.
- The discount will be applied every time you trade, saving you money on fees.
- There are special discount categories for the new referral link, 0%, 5% and 10% for normal accounts. And exclusively available to large accounts: 15% and even 20% permanent discount
- Anyone can benefit from these links, but you will have to create a new account to make it work.

It can be difficult to find a link with the highest discount category of 20% that actually works.  For more info, including a working referral link for the highest category go to: https://www.100-eyes.com/20-percent-discount-on-binance


F.A.Q.

Q. But I thought you're only allowed to have one account on Binance?
A. You can have as many accounts as you want that are unverified. If you went through KYC you will need to either sign up using a different verification document or destroy your account through a ticket (https://www.reddit.com/r/binance/comments/99sdir/are_we_allowed_to_have_more_than_one_account/)

Q. Do I need a different email address to sign up?
A. Yes, you will need a new email address for your new discount-unlocked account.

Q. Is it worth creating a new account just for the fees?
A. Yes, every single trade you will make from now on will have this discount. It will add up to a lot over the long run.  

[BitcoinGirl.Club]

It can be difficult to find a link with the highest discount category of 20% that actually works. Use this one from the official 100eyes account: https://www.binance.com/en/register?ref=LKCUG1AT. More info: https://www.100-eyes.com/20-percent-discount-on-binance

You are not allowed to post referral link brother. Please read the forum rules and remove it or the mod will delete the topic.

[WickCrypto]

It can be difficult to find a link with the highest discount category of 20% that actually works. Use this one from the official 100eyes account: https://www.binance.com/en/register?ref=LKCUG1AT. More info: https://www.100-eyes.com/20-percent-discount-on-binance

You are not allowed to post referral link brother. Please read the forum rules and remove it or the mod will delete the topic.

Thanks, removed.

[exstasie]

Q. But I thought you're only allowed to have one account on Binance?
A. You can have as many accounts as you want that are unverified. If you went through KYC you will need to either sign up using a different verification document or destroy your account through a ticket (https://www.reddit.com/r/binance/comments/99sdir/are_we_allowed_to_have_more_than_one_account/)

As long as you're not gaming the referral system by self-inviting through multiple accounts. This is in the fine print:

Binance does not allow any user to self-invite through multiple accounts. Upon such activity has been detected, all referrals will be cancelled and all referral commission kickbacks for the invitee’s accounts will be cancelled.

Q. Is it worth creating a new account just for the fees?
A. Yes, every single trade you will make from now on will have this discount. It will add up to a lot over the long run.

So you are talking about self-referring? Be careful to use different browsers and IP ranges on your multiple accounts if so.

Otherwise, I don't think you need to create a new account to take advantage of these kickbacks. You should be able to go to https://www.binance.com/en/activity/referral and generate a new referral link through your existing account.

[adroitful_one]

I'm assuming the fees stack on top of the savings from using BNB? I went ahead and bought a bunch of BNB a while back just to make sure I didn't have to worry about that anymore. If the fees stack on top of what you get from paying fees in BNB, it may be worthwhile to go through the whole account creation process again if you do a lot of trades.

[BitMaxz]

This won't work on blogging if you have a blog already index on Google, Bing, Baidu, or any search engine according to their terms am I right?

So, you can only invite friends but not new visitors from a website or blog site?

So, you can only promote the referral link by sharing it through FB, Twitter or any social media accounts.

The interesting part is they are giving a 40% rate if you invite a friend who can hold 500+ BNB which is too big but since they are legit why not, no exchanges can give this rate.

Don't need to make new accounts if you are going to promote referral they just count it as one and if they detected multiple accounts it will end up cancel all of your kickback's.

Better read more about their old rules that they include from their new referral program upgrade here "Updates to the Binance Referral Program"

For me, it will hard to find someone to invite without advertising but with social media, you can promote it without a problem just make sure to follow their rules carefully.

[WickCrypto]

As long as you're not gaming the referral system by self-inviting through multiple accounts. This is in the fine print:

Binance does not allow any user to self-invite through multiple accounts. Upon such activity has been detected, all referrals will be cancelled and all referral commission kickbacks for the invitee’s accounts will be cancelled.

Q. Is it worth creating a new account just for the fees?
A. Yes, every single trade you will make from now on will have this discount. It will add up to a lot over the long run.

So you are talking about self-referring? Be careful to use different browsers and IP ranges on your multiple accounts if so.

Otherwise, I don't think you need to create a new account to take advantage of these kickbacks. You should be able to go to https://www.binance.com/en/activity/referral and generate a new referral link through your existing account.

I wasn't even talking about self-referring, that is clearly forbidden and has some risks. I simply mean get the 20% referral link, and just re-create your Binance account with a new email address, to make sure you can benefit from the additional fee discount. There's really no point in keeping your account if it doesn't have the 20% permanent discount enabled, you're simply giving away free money to Binance.

I also reached out to customer support to ask whether it is allowed to create a new account. They mentioned it is allowed only if you use a different KYC document, or if you're not a KYC verified account it's fine.

[WickCrypto]

I'm assuming the fees stack on top of the savings from using BNB? I went ahead and bought a bunch of BNB a while back just to make sure I didn't have to worry about that anymore. If the fees stack on top of what you get from paying fees in BNB, it may be worthwhile to go through the whole account creation process again if you do a lot of trades.

It works on top of the BNB savings indeed. You can see the full overview here: https://www.binance.com/en/fee/schedule. Using the 20% discount you'd be moving from the second-to-last column, to the most-right column.

(not sure if my account allows to paste an image, but here is an image url: )

[WickCrypto]

This won't work on blogging if you have a blog already index on Google, Bing, Baidu, or any search engine according to their terms am I right?

So, you can only invite friends but not new visitors from a website or blog site?

So, you can only promote the referral link by sharing it through FB, Twitter or any social media accounts.

Don't need to make new accounts if you are going to promote referral they just count it as one and if they detected multiple accounts it will end up cancel all of your kickback's.

Better read more about their old rules that they include from their new referral program upgrade here "Updates to the Binance Referral Program"

I think you're interpreting it not literal enough. What I read here https://www.binance.com/en/support/articles/360001155692 is the following: "Posting your own Binance referral link as advertisements on search engines such as  Google, Bing, Baidu, etc.". How I interpret this is that you're not allowed to use Google Ads and put your referral link at the top when someone searches for 'Binance'. If however, you have a page where the referral link is found and google indexes it organically - there is no problem.

The interesting part is they are giving a 40% rate if you invite a friend who can hold 500+ BNB which is too big but since they are legit why not, no exchanges can give this rate.

Don't need to make new accounts if you are going to promote referral they just count it as one and if they detected multiple accounts it will end up cancel all of your kickback's.

For me, it will hard to find someone to invite without advertising but with social media, you can promote it without a problem just make sure to follow their rules carefully.

Also here, I think we are both interpreting it differently. I meant to say that you do not need to refer someone yourself. You don't need to promote your personal referral link, you just need to switch your trading to your own new account and sign up using somebody else's referral link, like the one from https://www.100-eyes.com/20-percent-discount-on-binance.

Then, you will not have to go through the trouble of finding others to invite yourself - instead you just benefit directly without any extra effort other than switching to a new Binance account.

[NeuroticFish]

I don't expect this referral thing will last long as it is now, especially if it successful. It would mean that Binance will have to increase the fees to feed this, which overall could cause more people leave than come.
Also the number of new traders will be incorrect because of this referral exploit (although it could be easy to get caught indeed).

[fullhdpixel]

Many accounts might be created by a single person for this purpose, which I think it is still not really worth it and I will explain. Anyone could create an unverified account like you said, but what is the essence of trading on different accounts when you will still eventually forget some of those accounts, and a user may eventually forget the password or details to the wallet where he has so many of those coins just because of some sort of discount.

No matter the amount of discount, you cannot trade a fund in more than one account at a goal,. And having to split those funds will be very stressful, and also to me, this is cheating which may eventually invited strict regulation on unverified account. Binance is already a big platform, so it would do them no harm if they start introducing KYC to the unverified accounts now.

[WickCrypto]

Many accounts might be created by a single person for this purpose, which I think it is still not really worth it and I will explain. Anyone could create an unverified account like you said, but what is the essence of trading on different accounts when you will still eventually forget some of those accounts, and a user may eventually forget the password or details to the wallet where he has so many of those coins just because of some sort of discount.

No matter the amount of discount, you cannot trade a fund in more than one account at a goal,. And having to split those funds will be very stressful, and also to me, this is cheating which may eventually invited strict regulation on unverified account. Binance is already a big platform, so it would do them no harm if they start introducing KYC to the unverified accounts now.

I think the point is different. Right now many people still are using their account that they signed up with initially on Binance. But there is literally no point in keeping that account, you are better off to make a new account now since the 20% fee discount is permanent and might have a temporary nature. You will not trade from multiple accounts, you are only trading from your new account.

No need to split the funds. And I actually contacted the customer service about this. It's a legal practice, the only thing they say is that you need to use a different document if you sign up for KYC again (e.g. drivers license instead of passport or the other way around).

[cosmofly]

I think this campaign is not too attractive to many traders. because most people deal with very little and only a few have great wealth.
such as me, I only trade about $ 1000 per day and usually pay about $ 5 - $ 10. and additional cost reductions will not have too much sense to me.

[Google+]

you better trade in a place other than a binance exchange place because at this time the binance exchange place is already inferior to other exchanges, the trading volume has lost far and at the binance exchange place has started many problems, so I suggest you try to trade at another exchange place that is you can look at coinmarketcap and look for places of exchange that have high trading volumes.

[WickCrypto]

I think this campaign is not too attractive to many traders. because most people deal with very little and only a few have great wealth.
such as me, I only trade about $ 1000 per day and usually pay about $ 5 - $ 10. and additional cost reductions will not have too much sense to me.

$10 a day is $3650 a year. Multiply by 20%, that's $750 savings a year, I'd say it's a nice little holiday you just got yourself for free!

But I understand what you mean, I recently made it to VIP level 2 so I have around 600 BTC per month in trading volume. I can tell you that with these amounts an extra discount really makes a significant difference.