Binance Referral ID (Optional) 2024: ASYQFPUG

Binance is the world’s largest cryptocurrency exchange and is used by millions of people every day.
Unlike Coinbase or that buy image rights and pay advertising to appear at the most popular sporting events, Binance has become popular organically, from user to user.

In this article we will explain what the Binance referral ID is, how to fill it out and what the benefits are. Are you ready?

What is the Binance Referral ID (Optional)?

As the name implies, the Binance Referral ID is an optional code to earn up to 20% discount on fees on Binance. By entering the referral ID ASYQFPUG in 2024, you are guaranteed the maximum discount. This code also guarantees an exclusive sign-up bonus of $50 cashback on transaction fees after the user completes their tasks.

After entering this code, you will see a message saying “Your commission kickback rate: 20%” as in the image below:

Binance Referral ID ASYQFPUG

This means that the maximum 20% discount will be applied to your account forever. This discount is lifetime, i.e. it will never expire.

If you would like help creating an account or have questions, we can help. Get in touch via Telegram.

*Ps: Spam messages will be ignored.

What is the easiest way to sign up at Binance with an invite code?

For beginners who like convenience, the easiest way to enter the Binance Referral ID is to click on this link to sign up. This way, since the registration link already contains the code, you just need to create your account as usual, without having to enter any code, as it will already be saved and associated with your account.

Futures Market Referral ID

Many users search Binance Futures Referral ID. Actually, when you create your account at Binance, you will have access to both the spot market and the futures market. There is no need to create two separate accounts. The same Binance Referral ID ASYQFPUG can be used for Binance Futures in 2024.

What has changed in 2024?

Previously, this field was called the “Binance referral code”. Today, Binance has changed the name to “referral ID” but the logic remains the same. The maximum discount is still 20% on all transaction fees.

Is there a referral code with a discount higher than 20%?

No. Although many articles on the internet advertise their affiliate codes saying that you will get unreal discounts, Binance Terms are very clear that every Binance affiliate can choose the discount rate they will give back to their referral and which one they will give back to them as commission. Binance offers 41% commission in all. An affiliate can split it in half: 20% for the referral and 21% commission for him/her. Or he can also keep higher commissions for himself, like 31% (while 10% goes to his referred friend). Note that there is no way to pass on more than 20% to the friend, only less.

It is very easy to check this statement. When you enter the code, as we have commented before, a message will appear, so you can automatically see the discount offered.

Do not sign up with codes from dishonest people. People who lie about commissions do not deserve your trust. We at Simplifying Theory work with music and are cryptocurrency enthusiasts, believing in its future. That is why we affiliate with Binance and try to pass on the most correct and truthful information to you.

What is BUSD?

BUSD was once the standard stablecoin within Binance, paired 1:1 with the dollar and its financial custody handled by PAXOS. This setup was in place when Binance worked with various stablecoins like USDC and USDP (when users transferred USDC or USDP to Binance using the Ethereum network, their tokens were automatically converted to BUSD, facilitating trades within Binance as if using dollars).

However, this dynamic has since changed. Binance no longer automatically converts USDC and USDP to BUSD. Furthermore, the BUSD token has been retired following regulatory pressures. Despite these changes, it’s important to remember that USDP and USDC remain operational, known for being more regulated and secure stablecoins. When considering withdrawing your dollars as cryptocurrency, these stablecoins are still recommended options.

I created my account with the reference code. Now what?

After creating your account, you can make a cash deposit to start buying your first cryptocurrencies. Binance offers over 500 different cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polygon (MATIC), Dogecoin (DOGE) and many others.

After buying your cryptocurrencies, if you want to hold on to them for the long term, we recommend that you transfer your coins to a personal wallet, as this is one of the great advantages of cryptocurrencies, they allow you to do your own custodianship, without having to rely on Binance anymore!


Using the Binance exchange for cryptocurrency trading and investment carries several risks:

Market Risk: The most significant risk involves the inherent volatility of the cryptocurrency market. Prices of digital assets on Binance can fluctuate wildly in short periods, leading to potential losses. This volatility is driven by various factors, including regulatory news, technological advancements, market sentiment, and broader economic factors. Traders and investors must be aware that the value of their investments can decrease rapidly, potentially leading to substantial losses.

Security Risk: While Binance employs robust security measures, no platform is immune to the risk of cyber attacks. Users must be vigilant in securing their accounts, using features like two-factor authentication, and being aware of phishing attempts. There is also the risk of losing access to your account if you forget your credentials or lose access to your two-factor authentication method.

Regulatory Risk: The regulatory environment for cryptocurrencies is still evolving. Binance, operating in multiple jurisdictions, faces varying regulations that can impact users. Changes in regulations can lead to sudden restrictions on trading certain assets, impacting the liquidity and value of holdings. Users must stay informed about the regulatory landscape in their respective countries and understand how it affects their trading and investment strategies on Binance.

Operational Risk: Binance, like any other exchange, can face operational issues such as system downtimes, which can be critical during high market volatility. During these periods, traders might not be able to access their accounts, execute trades, or withdraw funds, leading to potential losses or missed opportunities.

By understanding and managing these risks, users can make more informed decisions while using Binance for their cryptocurrency dealings. It’s crucial to undertake thorough research, employ risk management strategies, and invest only what one can afford to lose.

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