Promotions and bonuses from Binance
To attract new traders, the exchange periodically holds promotions with incentive prizes. Within their framework, the client can receive money to the account and other gifts. Periodically, the platform also holds prize drawings among traders who have fulfilled the conditions of the promotion. These activities are one-time and limited in time. You can follow them in the Announcements section of the Binance website.
Assignments and vouchers
One of the types of incentives for traders are the tasks displayed in the personal account. They can appear there daily or weekly, depending on what promotions are currently taking place. By completing the tasks, users are rewarded in the form of a voucher, which must be redeemed in the reward center. As a reward, the user can receive a zero margin rate within margin trades, cashback commissions, an increase in the VIP level in the loyalty program, or money to the account.
VIP Loyalty Program
As part of the loyalty program, traders can level up by actively trading on the exchange. The greater the turnover of funds on the account for the last 30 days, the higher the status of the user. The reward for leveling up is a reduced commission. By default, it is 0.1% for most transactions, but when you upgrade your status, it can drop to 0.01%.
The third type of bonuses on the Binance crypto exchange is referral interest. From each new user registered using a link or referrer ID, you can receive a percentage of the commission paid by him for the services of the platform. Its value depends on the average daily balance of the inviter and can reach 40%. To interest beginners, the referrer can set the percentage of payouts returned to the referral. So, if the referral percentage reaches 40%, then you can get everything yourself or divide up to 50:50 between the inviting and invited trader. In this case, both will receive 20% cashback commission.
Mining on Binance
Cryptocurrency exchange Binance has its own blockchain network, which is supported by a mining pool. By connecting your equipment to it, you can mine Bitcoin, Bitcoin Cash, Litecoin and Ethereum. In the future, it is possible to expand the list of supported digital assets, as the platform continues to develop dynamically.
At the time of writing this review, Binance is one of the largest blockchain systems in the world. Its hashrate is:
- BTC/BCH – more than 21 EH/s;
- ETH – more than 16 TX / s;
- LTC – more than 17 TX / s.
The exchange website provides detailed instructions for connecting all common types of equipment to the blockchain network. The platform commission depends on the cryptocurrency:
- BTC/BCH – 2.5%;
- ETH – 0.5%;
- LTC – 3%.
The income received from mining is paid out to customers daily. You can calculate profitability in the pool menu. There are calculators that automatically show the amount of the expected reward depending on the specified hashrate.
Other features of Binance
The functionality of the Binance platform is not limited to trading and mining. It offers customers a wide range of additional features:
- lauhchpad to launch your own new ICOs with the possibility of their subsequent placement, profitability farming and other operations;
- placement of crypto-currency deposits with a floating and fixed rate for a passive increase in capital;
- the BNB Vault platform, which allows you to receive passive income using internal BNB4 tokens;
- asset liquidity farming, which allows you to increase earnings;
- the Binance Earn section, where you can choose a ready-made investment project for investing virtual funds and passive income;
- staking cryptocurrencies, the interest rate for which is higher than for deposit investments;
- bi-currency investments that offer non-guaranteed, but higher, in comparison with the deposit, income
- received in the event of a fall or rise in the selected position;
- automatic investment of funds by buying cryptocurrencies, allowing you to receive passive income in the long term without additional interventions.
For settlements in cryptocurrency, the exchange supports the operation of its own Binance Pay system. It allows you to make transfers, pay for goods and services using digital assets without commissions and fees. This product can be called promising, as the number of cryptocurrency users is constantly growing, increasing the popularity and distribution of these payment instruments.
The Binance platform offers a very wide range of options for trading and other activities related to cryptocurrencies. Because of this, its development may seem difficult for a beginner. To make it easier to get started and answer frequently asked questions, the portal has a comprehensive FAQ section, as well as a Binance Academy section, which contains a large number of educational materials of various levels of complexity. It will allow you to comprehend the basics of stock trading, expand your knowledge in this area and constantly learn something new, improving your level.
In case of difficulties, unresolved issues or technical problems, clients of the cryptoplatform have access to prompt communication with the support service. The support staff consists of operators who communicate in different languages and are ready to consider the request at any time. To contact technical support, you can use the chat button located in the lower right corner of the page. Also, in order to improve feedback, the site has a system for sending requests. There you can ask a question that is not answered in the FAQ.
Feedback on the platform is another tool that allows you to communicate with the administration. Exchange employees regularly study the opinions of customers in order to improve the service and add requested features. In terms of the quality of technical support, the Binance exchange deserves high marks based on the results of the review.