Binance Doubles Referral Rewards: Binance Coin Pumps

The price of BNB has rapidly increased following the announcement from Binance that the popular exchange will be doubling its referral commission rewards under certain conditions.

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The Malta-based exchange has announced that it will be doubling its referral commission rewards to 40 percent for qualified accounts.

Accounts eligible to receive the increased commission rewards are those which hold 500 Binance Coins — approximately $7355 at the time of this writing. Writes the Binance Team in an official statement:

Binance will double referral commission rewards to 40% for all accounts that hold 500 BNB or more, starting from 2018/05/19 0:00 AM (UTC). Each user’s commission rate will then be adjusted at 0:00 AM (UTC) each day based on their BNB holdings. The commission rate for all other users will remain at 20%.

Note: The daily snapshot of BNB holdings will not include any BNB locked in-order or pending for withdrawal/deposit.

The exchange’s Referral Program works by allowing users to invite their friends to trade on the popular cryptocurrency exchange. When such friends accept, the user who sent the invitation receives a percentage of his/her trading fees as commission in real-time…

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