Recently, there has been a movement of REFUNDING BINANCE TRADING FEES; many KOLS post refunds for referrals of $10k-20k; is this real or not? Many people also ask me what the truth is; today I will write a detailed article for us to understand better and avoid being misled.
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First: Refund fees for transactions are a benefit when you register through the link of KOLS; you will receive direct discounts when trading (the discount rate is at least 0% and at most 20%). When you register through a referral link, the exchange will automatically deduct it when you trade, without any inbox notifications to worry about losing your account.
You can only get refunds starting from when you register through a referral link that has a set discount rate; past transactions are 1000% not refundable; anyone claiming refunds are possible, it's 1000000% a scam.
When you set to use BNB for fees, you get a 25% trading fee discount, plus an additional 20% from the ref, so many channels intentionally mislead with 40-45% while the 25% discount for using BNB is a general program available to everyone.
Many channels even post 50-60% to lure people to other exchanges; many other exchanges offer this refund level, but in return, the trade there is not as good as Bi; if you want to risk for a few bucks, you should reconsider.
I also do transaction fee refunds for everyone, but I do not want to post ambiguously and want to make it clear for everyone to understand.
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AN EXAMPLE OF A REFUND FEE
For example, you put in 100 million on Binance to trade (I'm just taking an average level; levels of several billion are exceptional for whales, what’s the point of showing off to others?). The basic fee level of Binance is 0.1% spot, and the discount through KOLS is assumed to be 20%.
Your trading fee is 100 million * 0.1% = 100,000 VND, with a 20% refund from KOLS, you will receive a direct refund into your account of 20,000 VND for each transaction worth 100 million.
Each day you can enter 2-3 orders, but often when the market is on fire for a week, you don’t place orders, so I take an average of 30 orders over 30 days. Thus, in 30 days, you would receive a refund of 20,000 * 30 = 600,000 VND. But the question is, if your capital is 100 million, would you dare to put in 100 million per order (all in)?
Upgrade if your capital is 1 billion, averaging 1 order each day, then in a month, you would get a refund of about 6 million, provided you have at least one order each day, and each order must be ALL IN 1 BILLION (there might hardly be any orders that are all in).
Many people keep showing off accounts that get refunded $5-6k; this is true, but the capital of these accounts must be millions of dollars or several hundred thousand, but they trade Futures based on leverage. I don't see the point in comparing it specially.
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Although I also work with KOLS running MAX refund fees, I do not want to post those things to attract referrals because pulling referrals like that has very serious consequences. Some consequences include:
Invite other accounts using relatives for KYC (remember, each person's money is their own; if later you want to withdraw money or there are any issues that need to be addressed, and that relative does not allow you to KYC anymore, or if they intend to seize your account later, don’t say it can't happen: for example, divorce, passing away, arguments, etc. Standing in for land is one thing, but sneakily selling it is another...).
Inviting to another exchange with high backcom: sees a high backcom rate but carries many risks; this is something that experienced players can feel for themselves.
Inviting to signal groups, you won't know whether you gain or lose; they charge fees.
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WAYS TO REFUND TRADING FEES ON BINANCE CURRENTLY
I myself also do fee refunds; if you are fortunate, sign up through me. I never encourage REGISTERING A NEW ACCOUNT because it poses a huge risk to YOUR INVESTMENT.
If you do not have an account yet, register through my referral link for MAX REFUND 20%: https://www.binance.com/join?ref=CASHBACKMAX
If you already have an account, the only way is that you have not registered under anyone's referral and have not traded in the last 6 months. Click on the link above; if you meet the conditions, there will be a CONNECTION text; you link it, and you will receive a 20% refund.
For Binance Alpha, go into the Web3 wallet on the App, click on the referral section, there is a line of text to link to get a 10% discount; you enter the code 'AOGSLPGE' into the link to receive a 10% discount for Alpha.
Wishing you all success!
