How does Binance's referral program work, and what benefits ?

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Binance has a referral program that rewards users for inviting new users to the platform. Here's how it works:

1. Users can share their referral link or code with friends or family who are interested in signing up for Binance.
2. When a new user signs up for Binance using the referral link or code, the referrer will receive a percentage of the new user's trading fees as a commission.
3. The commission rate starts at 20% and can be increased to 40% for users who hold a certain amount of Binance Coin (BNB) in their account.
4. The commission is paid in the same cryptocurrency that was traded by the new user.

Here are some of the benefits of Binance's referral program:

1. Earn passive income: Referrers can earn a commission on the trading fees generated by the new users they invite, which can be a source of passive income.
2. Save on fees: New users who sign up using a referral link or code will receive a 10% discount on their trading fees for the first 30 days, which can help to reduce trading costs.
3. Increased commission rates: Referrers who hold a certain amount of Binance Coin (BNB) in their account can increase their commission rate up to 40%, which can result in higher earnings.

Binance's referral program offers a way for users to earn passive income and save on trading fees, while also incentivizing them to invite new users to the platform.