Updated Rules checked 2026-10-11
A referral code rebate is the exchange returning part of the fees you have already paid. You don’t pay anything extra, and you don’t hand your account to anyone. Scams often borrow words like “rebate,” “cashback” and “partner,” and in the end ask you to pay money up front or give up your password, verification codes or API keys.
Below is how to tell them apart, compiled from the exchanges’ official pages and government anti-fraud material, for reference.
What does a real referral code rebate look like?
- The exchange pays it straight into your account: OKX’s affiliate rules state that commission is a direct return of the trading fees the invitee pays; Binance states that rebates are converted to USDC every hour and paid to your Spot account within 6 hours.
- The rate has an official range: OKX states the invitee’s rebate is 0%–20%; Binance states an affiliate can share up to 20% with invitees. Each exchange sets its own rate, and you can compare them on the exchange referral code overview.
- You can see it in your account: OKX’s “My rewards” page shows the rate the affiliate set for you; Binance’s Referral Pro page shows the referral mode you’re bound to and your rebate rate.
- There’s no pay-first step: in the exchange referral rules I checked, the rebate is always calculated from fees you have already paid, with no condition that you first pay a fee, top up, or buy a membership to receive it.
Sources: OKX affiliate rules, OKX affiliate FAQ, Binance affiliate program basics and Binance Referral Pro FAQ (checked 2026-10-11).
What are the 6 common rebate scam tactics?
1. Pay first to get your rebate or withdraw
This is the most common ending. Taiwan’s Financial Supervisory Commission (FSC) warns that fraud rings lure people into buying virtual assets with promises like “guaranteed profit, no loss” and “high returns, low risk,” then demand payment first, framed as an unfreezing fee, a deposit or taxes, before the money can be withdrawn (Taiwan Financial Supervisory Commission press release, 2025-09-22). The fake investment tactics listed by Taiwan’s Criminal Investigation Bureau follow the same pattern: you’re allowed small profits first, and once you’ve put in a large sum, withdrawals are refused on grounds such as insufficient wagering volume, a required deposit or an IP anomaly (Criminal Investigation Bureau list of common scams).
The FBI’s Internet Crime Complaint Center in the US also states that even when victims pay these fees or taxes, they usually still don’t get their money back, and it advises against paying any further fees (FBI IC3 announcement, 2023-03-14).
2. Posing as exchange support, a partner or an official group
OKX warns that people falsely claiming to work with OKX call users unprompted and invite them into third-party groups on WeChat, Telegram and similar apps; OKX’s official support only contacts users through the in-app voice feature (OKX on preventing phone scams). Binance states that its support won’t contact you on Telegram, and its official Telegram communities have no support staff; anyone who phones you claiming to be Binance is a scammer (Binance on Telegram impersonation, Binance on fake phone calls).
3. Fake websites and fake sign-up links
Binance warns that phishing sites often show up in search results, browser extensions, third-party apps and emails, and forged messages often use misspelled domain names; before logging in, check that the address is the official domain and starts with https:// (Binance on URL spoofing, Binance on avoiding phishing). Binance also states that commission is voided for referrals obtained by sending traffic through unofficial or imitation websites, or by running search engine ads for referral links (Binance referral program details).
After clicking a referral link, look at the address bar: the domain should be the exchange’s official domain and the referral code field should show the code you expect. Then start signing up.
4. Asking for passwords, verification codes, seed phrases or API keys
To get a rebate, you only need to sign up with a referral code; linking an account to a rebate site only needs your exchange UID. The exchanges all say the same thing:
- Binance: don’t give your two-factor authentication codes to anyone, and keep API keys as safe as a password, never sharing them with third parties (Binance account security tips).
- OKX: it won’t ask you for your password, verification codes or any sensitive information (OKX on preventing phone scams).
- Bitget: genuine Bitget staff won’t ask for your password, two-factor authentication codes or private keys (Bitget anti-fraud guide).
If you do need to create an API key for a tool, Binance states that enabling withdrawal permission requires setting an IP whitelist first, and strongly recommends enabling only “read” permission when no IP restriction is set (Binance on creating an API key).
5. Tasks, membership upgrades or recruiting before you get the reward
Binance has described this tactic: to claim a reward, you’re asked to complete more tasks, such as becoming a member, inviting friends to join or upgrading to VIP membership; scammers also use “discounts” for paying in crypto to get you to transfer funds, for example 10% back for buying VIP 1 membership with USDT (Binance crypto scam warning). A real referral code rebate doesn’t require buying a membership or transferring money to someone else’s account first.
6. Guaranteed profit, no risk of loss
Taiwan’s Criminal Investigation Bureau puts it bluntly: if you hear “guaranteed profit” or “can’t lose,” it’s definitely a scam. A referral code rebate is only a discount on fees, and the trades themselves can still lose money. Be on guard whenever someone packages rebates as guaranteed income or says a deposit will double.
How do you check whether someone is really from the exchange?
Most exchanges have an official verification tool where you can enter a URL, email address, phone number or social media account to check whether it’s an official source:
- Binance Verify
- OKX official channel verification
- Bitget official verification
- MEXC official verification, KuCoin official verification, Gate official verification, WEEX official verification
It’s also a good idea to turn on an anti-phishing code: once it’s set, official emails from Binance, OKX and Bitget all include the code you chose; if an email is missing the code or shows the wrong one, it may be a phishing email (Binance anti-phishing code guide, OKX account security guide, Bitget on avoiding phishing).
In Taiwan, you can look up scam LINE IDs and fake investment websites on the 165 anti-fraud website.
What should you do if you’ve already fallen for a rebate scam?
- Don’t pay any more fees, taxes or deposits.
- If you handed over a password, verification codes or API keys, immediately change your password and reset two-factor authentication through the official app or website, and delete any API keys you don’t recognize.
- Keep your chat logs, transfer records and URLs.
- Contact the exchange’s official support from inside the app; in Taiwan, you can call the 165 anti-fraud hotline.
FAQ
Do I have to pay to sign up with a referral code?
No. A referral code is just a code you enter at sign-up. The rebate is calculated from the fees you pay on later trades and is returned to you by the exchange.
A rebate site wants my exchange UID. Is that safe?
A UID is only an account number used to match rebate records; having it doesn’t let anyone log in or touch your assets. Never give anyone who asks your password, verification codes, API keys or withdrawal permission.
My rebate hasn’t arrived. Have I been scammed?
Not necessarily. If the referral code didn’t bind, the payout time hasn’t come yet, or the trade doesn’t earn a rebate in the first place, you won’t see one. Start with the checklist for a missing rebate. What should really raise a red flag is someone asking you to pay first or to hand over your account details.
How do I confirm a referral link goes to the exchange’s official website?
After clicking, look at the address bar first: the domain should be the exchange’s official domain and start with https://, and the referral code field should show the code you expect. Then start signing up.
Binance warns that phishing sites often show up in search results, browser extensions, third-party apps and emails, and fake messages often use misspelled domain names. If you’re not sure, check the URL with the official verification tools listed above.
Someone claiming to be exchange support messaged or called me. Can I trust them?
Don’t take it at face value. Binance states that its support won’t contact you through Telegram, and anyone who calls claiming to be Binance is a scammer; OKX’s official support contacts users only through the in-app voice feature.
You can check whether a phone number, email address or social media account is official with the exchange’s official verification tool; to reach support, contact them from inside the official app.
I’ve already given my verification code or API key to someone. What should I do?
Immediately change your password and reset two-factor authentication through the official app or website, and delete any API keys you don’t recognize.
Then keep the chat history, transfer records and URLs, and contact the exchange’s official support from inside the app; in Taiwan, you can call the 165 anti-fraud hotline. If they ask you to pay any further fees, taxes or deposits, don’t pay.