Binance is the world’s largest cryptocurrency exchange by trading volume. Millions of users across Asia, Europe, and the Americas rely on it for spot trading, futures, staking, passive income products, and direct crypto-to-crypto conversions. But for someone signing up for the first time, the process raises real questions: How do I register correctly? What is KYC and why does it matter? How do I get the fee discount? How do I fund my account?
This guide answers all of those questions in order. It covers the full sign-up process, the most important discount you can apply before your first trade, identity verification tips, security setup, and how to deposit funds from a Korean domestic exchange. Whether you are a complete beginner or someone who has been putting off the setup, this walkthrough gives you everything you need to start correctly.
What Makes Binance Different from Other Exchanges
Before getting into the steps, it helps to understand why Binance is worth using over domestic alternatives.
Binance lists over 350 cryptocurrencies. Most Korean domestic exchanges list fewer than 200, and many popular global projects are not available on Upbit or Bithumb at all. If you want to access coins like SOL, MATIC, or newer DeFi tokens, Binance is often the only practical option.
The fee structure on Binance is also more competitive. The base trading fee is 0.10% per trade, which is lower than most Korean exchanges. With available discounts, that rate drops further. Binance also offers futures trading, copy trading, P2P markets, staking, and savings products all within a single app, which removes the need to use multiple platforms.
For Korean users specifically, Binance is the gateway to global crypto markets. Domestic exchanges operate under Korean regulations and list only assets that meet local approval criteria. Binance operates globally and lists assets based on a broader set of criteria, giving Korean users access to a much wider market.
The Referral Code Discount: Why You Must Apply It Before You Register
This is the most important section of this guide. Read it before you create your account.
Binance offers a permanent 20% trading fee discount to users who sign up through an official partner referral link. This brings the base fee from 0.10% down to 0.08% per trade. The discount applies for the lifetime of your account and requires no ongoing action.
The critical rule is that this discount can only be applied at the moment of registration. Binance does not allow referral codes to be added or changed after an account is created. If you sign up without a referral code, you pay the full 0.10% rate on every trade indefinitely. Customer support will not make exceptions to this policy.
To understand why this matters, consider a trader making 50,000,000 KRW in trades per month. At 0.10%, the annual fee is 600,000 KRW. At 0.08% with the referral discount, it is 480,000 KRW. The saving is 120,000 KRW per year, achieved with no change in trading behavior.
The discount grows further when combined with the BNB fee payment option. Binance allows users to pay trading fees using BNB, its native token, which adds another 25% reduction on top of the referral discount. Together, the two discounts bring the effective fee rate to 0.06%, which is a 40% reduction from the standard rate.
Completing 바이낸스 가입 through an official partner link is the simplest way to ensure the referral discount is applied automatically before you place your first trade. The link pre-fills the referral code in the registration form, which removes any risk of missing the field or entering it incorrectly.
The table below shows how the discounts compare across different monthly trading volumes.
| Monthly Volume | Standard (0.10%) | Referral Only (0.08%) | Referral + BNB (0.06%) | Annual Saving |
| 10,000,000 KRW | 120,000 KRW | 96,000 KRW | 72,000 KRW | 48,000 KRW |
| 50,000,000 KRW | 600,000 KRW | 480,000 KRW | 360,000 KRW | 240,000 KRW |
| 200,000,000 KRW | 2,400,000 KRW | 1,920,000 KRW | 1,440,000 KRW | 960,000 KRW |
A real example: Junho, a 32-year-old trader in Seoul, signed up for Binance in 2023 without a referral code because he was in a hurry. He later calculated that over 18 months of active trading, he had paid approximately 270,000 KRW more in fees than he would have with the referral discount. He could not apply the discount retroactively. His advice to new users: “Take the extra 30 seconds to use the referral link. You cannot fix it later.”
Step-by-Step Registration Process
Once you have the referral link ready, the registration process takes about five minutes.
Step 1: Access the Registration Page
Open the referral link in a web browser on your phone or computer. This takes you directly to the Binance sign-up page with the referral code already filled in. Do not download the Binance app first and sign up from there, as the referral code may not carry over correctly in all cases. Complete the web registration first, then download the app afterward.
Step 2: Enter Your Email and Password
Enter the email address you want to use for your Binance account. Choose one you check regularly and plan to keep long-term. This address receives security alerts, withdrawal confirmations, and account notifications.
Create a strong password. Binance requires at least eight characters, including one uppercase letter, one lowercase letter, one number, and one special character. Avoid using a password you use on any other service.
Confirm that the referral code field is filled in before clicking the registration button.
Step 3: Verify Your Email
Binance sends a six-digit verification code to the email address you entered. Check your inbox and enter the code within the time limit shown on the screen. If the email does not arrive within two minutes, check your spam folder.
After entering the code, your basic account is created. At this stage, the account has limited functionality. You need to complete identity verification to access deposits, withdrawals, and trading.
KYC Identity Verification: How to Pass on the First Attempt
KYC stands for Know Your Customer. It is a regulatory requirement that all major exchanges must follow to prevent money laundering and identity fraud. Binance enforces KYC before allowing users to deposit funds or trade.
The process involves three parts: entering personal information, photographing your ID, and completing a face verification scan.
Personal information: Enter your full name, date of birth, and residential address exactly as they appear on your ID document. Any mismatch between what you enter and what appears on your ID causes the verification to fail. For passport users, check that the English spelling of your name matches the MRZ code at the bottom of the passport photo page.
ID photograph: Binance accepts a Korean national ID card, driver’s license, or passport. Photograph the front and back of the document in a well-lit room. Ensure the text is sharp and fully visible. Avoid shadows, glare, or fingers covering any part of the document. Blurry photos are the most common reason for verification failure.
Face verification (Liveness Check): The app guides you through a short face scan. Follow the on-screen prompts, which typically involve slowly turning your head or opening your mouth. Remove glasses, hats, and masks before this step. Facial recognition accuracy drops significantly when accessories obstruct the face.
A real example: Soyeon, a 29-year-old in Busan, failed her first KYC attempt because she photographed her ID under fluorescent lighting that created glare on the laminated surface. She retook the photo near a window using natural light and passed on the second attempt. Verification was approved within four minutes.
Most verifications are complete within a few minutes during normal hours. During peak periods, it can take up to a few hours. You receive a notification in the app and by email when your verification is approved.
Security Setup: Two Steps That Protect Everything
Account security on Binance is your responsibility. The platform provides the tools, but you must activate them. Two settings are essential.
Google Authenticator
Google Authenticator generates a six-digit code on your phone that changes every 30 seconds. Binance requires this code for every login, withdrawal, and sensitive account change. Even if someone obtains your password, they cannot access your account without the current code from your phone.
Download Google Authenticator from the App Store or Google Play. In Binance, go to your profile, tap Security, and select Authenticator App. Tap Enable. Scan the QR code displayed on the screen using Google Authenticator. A Binance entry appears in the app with a rotating six-digit code.
Before finishing, write down the 16-character backup key that Binance displays on the same screen. Store it on paper in a secure location. This key is the only way to restore your authenticator codes if you lose your phone. Do not save it as a screenshot or in a cloud notes app.
Anti-Phishing Code
Go to Security settings and set up an anti-phishing code. This is a short personal phrase that appears in every legitimate email Binance sends you. Any email claiming to be from Binance that does not display your phrase is a phishing attempt. Delete it without clicking any links.
How to Fund Your Binance Account from a Korean Exchange
Binance does not support direct Korean Won deposits through the standard fiat gateway. Korean users fund their accounts by purchasing cryptocurrency on a domestic exchange and transferring it to Binance. This is the most cost-effective method and is used by the majority of Korean Binance users.
Recommended assets for transfer:
USDT via the TRC20 network is the most popular choice. The withdrawal fee from Upbit is 1 USDT regardless of the amount transferred. Transfers complete within one to five minutes. XRP is the fastest option, with transfers completing in under two minutes and a withdrawal fee of approximately 1 XRP.
Avoid transferring Bitcoin or Ethereum for routine funding. Their network fees are significantly higher and vary with congestion.
The network matching rule:
The network selected when withdrawing from Upbit must match the network selected for the Binance deposit address. Sending TRC20 USDT to an ERC20 address results in permanent loss of funds. Always verify the network on both sides before confirming.
A real example: Donghyun, a 37-year-old in Daegu, transferred 1,000,000 KRW worth of USDT from Upbit to Binance using TRC20. He purchased 735 USDT on Upbit, withdrew it via TRC20, and paid a 1 USDT withdrawal fee. 734 USDT arrived in his Binance spot wallet three minutes later. Total transfer cost: 1 USDT, approximately 1,350 KRW. He then deposited the USDT into a Binance Earn flexible savings product at 4.5% APY and began earning daily interest.
Always send a small test amount the first time you use a new address. Send 10 USDT first, confirm it arrives, and then send the remainder.
What to Do After Your First Deposit
Once your funds arrive in Binance, you have several options depending on your goals.
If you want to earn passive income without trading, deposit your USDT into a Simple Earn product. Go to the Earn tab, select Simple Earn, choose USDT, and tap Subscribe. Flexible products allow withdrawals at any time. Locked products offer higher rates in exchange for a fixed commitment period of 30, 60, or 90 days.
If you want to buy Bitcoin or another cryptocurrency, tap Buy Crypto or use the Convert feature. Convert is the simplest method: select the asset you have, select the asset you want, enter the amount, and confirm. The exchange completes instantly.
If you want to trade on the spot market, go to the Trade tab and select Spot. The interface shows the order book, price chart, and order entry fields. Start with a limit order rather than a market order to control the price at which your trade executes.
Frequently Asked Questions
Can I sign up for Binance if I am in Korea?
Yes. Using Binance as a Korean resident is not illegal. Binance is not registered with the Korean Financial Services Commission, which means Korean regulatory protections do not apply, but individual use of the platform is permitted.
What happens if I sign up without a referral code?
You pay the standard 0.10% trading fee with no discount. The referral code cannot be added after registration. There is no workaround for this.
How long does KYC verification take?
Most verifications complete within a few minutes. During high-traffic periods, it can take up to a few hours. You receive a notification when it is approved.
Is it safe to keep funds on Binance?
Binance stores the majority of user funds in cold storage and maintains the SAFU fund, a reserve of over $1 billion used to compensate users in the event of a platform-level security breach. The 2019 hack resulted in full reimbursement of all affected users through this fund. Account-level security depends on the protections each user activates, particularly Google Authenticator and the withdrawal whitelist.
What is the minimum deposit amount?
For TRC20 USDT, the minimum deposit is 1 USDT. Deposits below this threshold are not credited.
Can I use Binance without trading?
Yes. Many users use Binance exclusively for Earn products, staking, or Launchpool without placing a single trade. The platform does not require active trading to use these features.
Binance rewards users who set it up correctly from the start. The referral discount, the security setup, and the correct transfer method are all decisions made once, and they affect every interaction with the platform going forward. Taking the time to get these right before the first deposit is the most valuable thing a new user can do.