Binance is the world’s number one exchange by spot trading volume. In just seven years since its founding in 2017, its daily trading volume has exceeded $100 billion. It currently supports over 600 coins and has more than 150 million users worldwide.
Many Korean investors use Binance but do not receive proper fee discount benefits. Referral benefits depend on the market, account, region and terms shown by Binance; a code alone does not guarantee a 20% rate or lifetime eligibility.
This guide explains referral codes, fee calculations, BNB discount assumptions, KYC, transfer checks and account security. It is not a report of completed account, trading or withdrawal tests.
CoinPop Official Binance Referral Code
The first thing you should check before signing up for Binance is the referral code. Check the code and terms before registration. Existing-user programs have separate eligibility requirements; do not assume every existing account can add or change a referral relationship.
| Category | Details |
|---|---|
| CoinPop Official Referral Code | COINPOP |
| Fee Discount Rate | Check account-specific Spot and Futures benefits separately |
| Target Audience | Subject to the applicable program eligibility |
| Validity Period | Check the current offer and program terms |
| Registration Link | Sign up via CoinPop referral link |
Accessing the link above will open the sign-up page with the referral code automatically applied. Please ensure that COINPOP is entered in the “Referral ID” field at the bottom of the sign-up page.
What Kind of Exchange is Binance?
History and Scale of Binance
Binance is a global cryptocurrency exchange founded in 2017 by Changpeng Zhao (CZ). Within just six months of its establishment, it grew into the world’s largest exchange and currently provides services to over 180 countries worldwide.
Its daily spot trading volume ranges from approximately $10 billion to $20 billion, maintaining an overwhelming lead over the second-place exchange. It also holds a top global position in the futures market.
In November 2023, Binance reached an agreement with the U.S. Department of Justice to pay a $4.3 billion fine, and former CEO Changpeng Zhao resigned. Since then, new CEO Richard Teng has taken office, focusing on strengthening compliance and regulatory adherence; this event actually served as a turning point for Binance to officially cooperate with regulatory authorities.
Core Services of Binance
Spot Trading: Over 600 coin pairs, minimizing slippage with deep liquidity. You can trade a wide range of assets, from major coins like Bitcoin and Ethereum to newly listed altcoins.
Futures Trading: Supports two types: USDⓈ-M Futures and COIN-M Futures. Trading is available with up to 125x leverage, and daily futures trading volume exceeds $50 billion.
Binance Launchpad: You can participate in token sales for new projects using BNB. This provides significant profit opportunities for early participants, with many past projects seeing price increases of dozens of times or more.
Binance Earn: You can deposit idle assets to earn interest. You can choose between flexible and fixed-term savings, with various options including staking, dual investment, and principal-protected products.
Web3 Wallet: Manage DeFi, NFTs, and multi-chain assets through the built-in Binance Web3 wallet. You can access decentralized services without the need for a separate hardware wallet.
Complete Analysis of Binance Fee Structure
To compare costs, distinguish base rates, BNB payment discounts and referral rebates. The rate tables below are retained as illustrative inputs, not verified current account quotes; product, VIP tier and eligibility can change the applicable rate. The 25% BNB factor used in the examples must not be assumed to apply to Futures.
Spot Trading Fees
| VIP Level | 30-day Trading Volume | Maker | Taker | When Paying with BNB |
|---|---|---|---|---|
| VIP 0 (Regular) | Less than 10M USDT | 0.1000% | 0.1000% | 0.0750% |
| VIP 1 | 10M USDT or more | 0.0900% | 0.1000% | 0.0675% |
| VIP 2 | 50M USDT or more | 0.0800% | 0.1000% | 0.0600% |
| VIP 3 | 200M USDT or more | 0.0420% | 0.0600% | 0.0450% |
| VIP 4 | 400M USDT or more | 0.0420% | 0.0540% | 0.0405% |
Maker refers to limit orders that provide liquidity to the order book, and Taker refers to market orders that fill existing orders. Since most regular investors use market buy/sell orders, Taker fees are primarily applied.
Futures Trading Fees — USDⓈ-M
| VIP Tier | Maker | Taker | After 20% Referral Discount | After Referral + BNB Discount |
|---|---|---|---|---|
| VIP 0 (Regular) | 0.0200% | 0.0500% | 0.0400% | 0.0300% |
| VIP 1 | 0.0160% | 0.0400% | 0.0320% | 0.0240% |
| VIP 2 | 0.0140% | 0.0350% | 0.0280% | 0.0210% |
| VIP 3 | 0.0120% | 0.0320% | 0.0256% | 0.0192% |
Since futures trading uses leverage, the nominal transaction amount is large, and the fee reduction effect is much greater than in spot trading. Trading 10 million KRW with 10x leverage results in a nominal amount of 100 million KRW, and the difference in fees widens significantly.
Illustrative Savings Under Assumed Discounts
Assumptions: monthly Spot taker turnover of 100 million KRW, a 0.1% base fee, an eligible 20% referral reduction and an eligible 25% BNB reduction, unchanged for 12 months. Effective rate = 0.1% × (1 − 0.20) × (1 − 0.25) = 0.06%; annual fee = monthly turnover × rate × 12. This is a calculation example, not confirmation of the COINPOP offer. It excludes BNB price changes, spreads, slippage and other costs.
| Condition | Fee Rate | Monthly Fee | Annual Fee |
|---|---|---|---|
| Basic Fee (No Referral) | 0.1000% | 100,000 KRW | 1,200,000 KRW |
| Referral 20% Discount Only | 0.0800% | 80,000 KRW | 960,000 KRW |
| BNB 25% Discount Only | 0.0750% | 75,000 KRW | 900,000 KRW |
| Referral + BNB Applied Simultaneously | 0.0600% | 60,000 KRW | 720,000 KRW |
Under those assumptions, the calculated annual difference is 480,000 KRW. At monthly turnover of 200 million or 500 million KRW, it would be 960,000 or 2,400,000 KRW respectively. These results depend on eligibility and unchanged inputs; entering a code does not secure these savings.
How to Sign Up for Binance — Complete Step-by-Step Guide
Requirements Before Signing Up
Please prepare the following in advance for Binance sign-up and KYC verification.
- Valid email address (Gmail, Naver, etc. are all possible)
- ID (Choose one: ID Card, Passport, or Driver’s License)
- Smartphone (for installing 2FA app)
- Google Authenticator app (Free for iOS/Android)
Step 1 — Access the Sign-up Page
Access through the Coinpop official referral link. When you access through this link, the sign-up page will open with the referral code (COINPOP) automatically entered.
If you sign up directly on the Binance site, you must manually enter COINPOP in the “Referral ID (Optional)” field at the bottom of the sign-up page. A blank field does not establish eligibility for any later benefit; check the rules for your account rather than assuming a code can be added afterward.
Step 2 — Enter Email or Phone Number
For Korean users, we recommend signing up by email. Signing up with a phone number can make it cumbersome to change the number later, and email is more stable as a security recovery method.
If you sign up by phone number, select the country code +82 and enter the remaining numbers excluding the leading 0. (Example: 010-1234-5678 → 10-1234-5678)
Step 3 — Set Password
The password must meet all of the following conditions:
- At least 8 characters
- Include uppercase English letters
- Include lowercase English letters
- Include numbers
- Include special characters (!@#$% etc.)
As a Binance account can hold significant assets, never use the same password as other sites.
Step 4 — Final Confirmation of Referral Code
Before clicking the sign-up button, make sure to check if COINPOP is entered in the “Referral ID” field. Code linkage, account eligibility and the actual fee benefit are separate checks.
Step 5 — Email Verification
A 6-digit verification code will be sent to the email address you entered. The code is valid for 10–15 minutes; please also check your spam folder. Sign-up is completed after entering the code.
Step 6 — KYC Verification
It is recommended to proceed with KYC verification immediately after completing the sign-up. Withdrawals are restricted while KYC is unverified.
| KYC Level | Required Documents | Daily Withdrawal Limit | Processing Time |
|---|---|---|---|
| Unverified | None | 0 USDT (Withdrawal unavailable) | – |
| Basic Verification (Lv.1) | Photo of ID | 200,000 USDT | Instant to several hours |
| Advanced Verification (Lv.2) | ID + Facial Recognition | Unlimited | Instant to 24 hours |
KYC Process: Login → Profile Icon → Identity Verification → Select Personal Verification → Select Country (South Korea) → Select ID Type → Upload Photo → Facial Recognition (for Lv.2).
All Korean IDs (Resident Registration Card, Driver’s License, Passport) can be used. ID photos must be taken so that all four corners are visible and there must be no light reflection.
Step 7 — 2-Step Verification (2FA) Setup
The first thing you should do after completing KYC is to set up 2FA. Without 2FA, account security is very vulnerable.
How to set up Google Authenticator:
- Install the Google Authenticator app on your smartphone
- Binance Web → Profile → Security → Enable Google Authenticator
- Scan the QR code or enter the code manually
- Enter the 6-digit code displayed in the app to complete
Important: Be sure to write down the backup code (16-digit seed key) displayed during 2FA setup on paper and keep it in a safe place. If you lose your smartphone or delete the app, account access is impossible without this code.
How to apply both Referral Discount + BNB Discount
What is BNB?
BNB (Binance Coin) is a native token issued by Binance. It is used throughout the Binance ecosystem. BNB fee benefits depend on the eligible product and current terms; the 25% factor below is a Spot calculation assumption, not a universal Futures discount.
How to set up BNB discounts
- Log in to Binance
- Click the profile icon
- Dashboard → Fees
- Enable “Use BNB to pay for fees” (Toggle ON)
- Maintain a BNB balance in your wallet
If the BNB balance is insufficient, standard fees will be automatically deducted. For futures trading, you must hold BNB separately in your futures wallet.
Illustrative combination of Referral + BNB assumptions
| Discount Condition | Spot Fee (Taker) | Futures Fee (Taker) |
|---|---|---|
| Basic Fee | 0.1000% | 0.0500% |
| 20% Referral Discount Only | 0.0800% | 0.0400% |
| 25% BNB Discount Only | 0.0750% | 0.0375% |
| Referral + BNB Applied Simultaneously | 0.0600% | 0.0300% |
The table illustrates sequential reductions under assumed inputs: 1 − (1 − 0.20) × (1 − 0.25) = 40%. The Futures column is a hypothetical calculation using the same factors, not a verified Futures benefit. Check the rate and rebate actually shown for each product and account.
Things to Know When Using Binance in Korea
Binance and Current Regulatory Status in Korea
Binance is currently unregistered with the Korea Financial Intelligence Unit (FIU). Accordingly, direct deposits and withdrawals in Korean Won (KRW) are not possible. Korean users use the platform by purchasing coins from domestic exchanges such as Upbit, Bithumb, and Coinone, and then transferring them to Binance.
Availability, transfer eligibility and tax obligations depend on current jurisdictional rules, account conditions and each provider’s policies. This guide does not establish that an individual’s use or transfer route is legally permitted; check current official requirements and obtain qualified advice where needed.
Fully Understanding the Travel Rule
The Travel Rule is a regulation that requires the collection and provision of sender and receiver information when transferring virtual assets worth 1 million KRW or more. It has been in full effect since March 2023.
| Transfer Amount | Travel Rule Application | Required Information |
|---|---|---|
| Less than 1 million KRW | Not Applied | Recipient Address Only |
| 1 million KRW or more | Applied | Recipient Name, Recipient Exchange, Address |
Upbit → Binance Transfer Procedure:
- Binance App → Wallet → Deposit → Select the specific coin → Select Network → Copy Address
- Upbit → Withdraw → Select the specific coin → External Address
- Select receiving exchange “Binance”
- Enter recipient information (must match Binance KYC registered name)
- Enter address and proceed with withdrawal
Note: If you are sending funds for the first time, it is recommended to test with a small amount (equivalent to 5–10 USDT) before proceeding.
When withdrawing from Binance to a domestic exchange
The network (chain) of the coin you are withdrawing must match exactly. For example, if you send USDT via the TRC-20 network but the receiving exchange only supports ERC-20, you may lose your funds. Always check the supported network on the receiving exchange first.
Complete Guide to Binance Security Settings
Since a Binance account can hold a significant amount of assets, you must be careful with your security settings.
Essential Security Items
| Security Item | Settings Path | Importance | Description |
|---|---|---|---|
| Google 2FA | Profile → Security → Google Authenticator | Essential | Additional 6-digit code authentication during login or withdrawal |
| Withdrawal Address Whitelist | Profile → Security → Withdrawal Address Management | Highly Recommended | Allows withdrawals only to registered addresses |
| Anti-Phishing Code | Profile → Security → Anti-Phishing Code | Recommended | Displays a code in official Binance emails |
| Login Device Management | Profile → Security → Device Management | Recommended | Immediately delete unrecognized devices |
| API Key Management | Profile → API Management | Depends on user | Delete unused API keys |
Preventing Phishing Attacks
- The official Binance URL is binance.com. Be careful of similar domains such as binnance.com, binanse.com, etc.
- Binance will never request your password or seed key via email or chat.
- Official Binance emails always include your configured anti-phishing code.
- Any account approaching you as a Binance employee on Telegram or KakaoTalk is 100% a scam.
Binance Earn — Monetizing Idle Assets
You can earn interest by depositing your idle assets into Binance Earn.
| Product Type | Features | Estimated APR | Liquidity |
|---|---|---|---|
| Flexible Savings | Withdraw anytime | 1-5% APR | High |
| Locked Savings | Locked for 30·60·90 days | 3-15% APR | None |
| ETH Staking | Receive block rewards | 3-5% APR | Tradable after WBETH conversion |
| Dual Investment | Paid in one of two coins | 10-100%+ APR | None |
USDT Flexible Savings is useful for managing short-term funds as it allows you to earn interest without the risk of losing your principal. However, since platform-specific risks (bankruptcy, hacking, etc.) exist, please avoid depositing all of your assets.
Frequently Asked Questions (FAQ)
Q. Is there a time limit for the referral code?
A referral code does not establish indefinite benefits. Check the offer duration, eligible products and terms displayed by Binance; rates and eligibility may change.
Q. Can I retroactively apply a referral code to an existing account?
Do not close and recreate an account to obtain a referral benefit. Binance’s official account-closure guidance warns that closure is irreversible, identity verification after re-registration may be restricted for 30 days or longer, and a different referral relationship removes rebate eligibility. Existing-user programs have separate requirements; check your account and official support.
Q. Does the 20% referral discount apply to both Spot and Futures?
Do not assume the same 20% benefit applies to Spot, USDⓈ-M Futures and COIN-M Futures. Check each market’s account-specific rate, rebate and eligibility; the actual COINPOP benefit and duration are not confirmed here.
Q. Exactly how much discount do I get if I apply both the BNB discount and the referral discount at the same time?
In the hypothetical Spot example, 0.1% × 0.80 × 0.75 = 0.06%, a 40% reduction from the assumed base fee. This requires eligibility for both reductions and does not establish the current rate for your account or Futures.
Q. Is it legally okay to use Binance in South Korea?
This guide does not determine the legality of an individual’s use of Binance. Check current official registration information, residence and account restrictions, the sending and receiving providers’ transfer rules, and applicable tax requirements; a transfer route or referral link does not prove legal eligibility.
Q. Is there a minimum deposit amount for Binance?
Minimum deposit amounts vary by coin. For USDT (TRC-20), the minimum deposit is 1 USDT. When you select the relevant coin and network on the deposit page, the minimum amount will be displayed.
Q. How can I check if the discount has been properly applied after entering the referral code?
Check the account’s current fee schedule and the applicable referral or rebate record separately. A displayed fee alone may not show a rebate settled later; confirm the market, eligible trades and actual settlement rather than assuming a particular rate proves code linkage.
Q. Can I contact Binance customer support in Korean?
Korean language support is available at the official Binance customer center. If you select App or Web → Support → Chat Support and inquire in Korean, you will be connected to a Korean-speaking representative.
Conclusion
Binance is the exchange that provides the highest liquidity and the most coin pairs in the world. Although there are restrictions for Korean users, such as the inability to deposit or withdraw KRW directly and the application of the Travel Rule, it remains one of the best choices in terms of global market accessibility and diverse trading products.
Check the code, eligible markets, offer duration and actual account benefits before relying on any discount. The 40% reduction above is a conditional calculation example, not a lifetime promise. Binance’s referral program terms allow eligibility and rewards to change.
| Category | Details |
|---|---|
| CoinPop Official Referral Code | COINPOP |
| Discount Benefits | Account-specific benefits; check eligible markets and duration |
| Registration Link | Sign up for Binance with Discount |
※ Coinfarm may receive a small affiliate commission for sign-ups made through this link. Affiliate compensation does not establish identical discounts, duration or fee treatment for every account.
| Exchange | Base Futures (Maker / Taker) | Referral Code | Official Verification |
|---|---|---|---|
| Bybit | 0.020% / 0.055% | BYBITDC (or 51167) | Verify Bybit Terms ↗ |
| Bitget | 0.020% / 0.060% | BITGETDC | Verify Bitget Terms ↗ |
| OKX | 0.020% / 0.050% | OKDCC | Verify OKX Terms ↗ |
| Binance | 0.020% / 0.050% | BIMENCE | Verify Binance Terms ↗ |
Compare live trading costs with the CoinPop Crypto Fee & Liquidation Calculator and Exchange Comparison Hub.
