By an odd stroke of luck, I've found myself earning a small-but-steady stream of income from Binance referral commissions.
It's a bit difficult to figure out exactly how much I'm earning on a day-to-day basis though, given that the income is split up into a multitude of individual fraction-of-a-cent commissions, spread among the 150+ currencies that Binance supports.
It's also difficult to track for income tax and capital gains purposes.
To solve these problems, I've built an open source "Referral Income Analyzer" tool. It will sum all of your Binance commissions together into daily or monthly (or any interval you specify) totals for each cryptocurrency.
Here's an example of what the output looks like: example. I set the format so that it could be easily imported to CoinTracking.info (full disclosure: that's a referral link) for income tax and capital gains reporting.
The tool also has a beta feature that will try to determine the cost basis of each income event using historic price data from Binance's API. That feature has some accuracy issues though.
I built this for my own personal use, but I imagine there might be a handful of others who could also find it useful. I've posted the tool for download here, along with more details on what it does and how it works: https://referralanalyzer.now.sh/
You can find the GitHub repository here, if you'd like to tinker with the code or compile it yourself.
I'm also planning to write a Medium article in the near future going into depth on how I handled the tax calculation and reporting for my Binance commission income. If that's something you'd be interested in, feel free to shoot me a DM or drop a comment here, and I'll message you when it's published.
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Binance's Aversion To Delisting Zombie Dead or Downright Scamcoins Is Disgraceful. Clean up Your Act CZ
HI all I enter my info I buy btc with GPB but after I enter my card and billing information it just keeps loading and remains on the same screen with no update or charge to my card/anything in wallet. Any ideas I wanna try and get the 0% fees which I didn't realize were happening until now. In the UK btw
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The ineptitude of these people seems off the charts. I'm fucking pulling my hair out, right now.
I live in a US territory where everyone has a physical address and a cluster box or po box...no one gets mailed delivered to their homes because of the physical layout and the difficulty for the post office. I've supplied proof of this and the verification idiots still won't pass me. Can anyone suggest how I can get through this without blowing my head off?
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Change your mindset Change your feelings Stop living a circular lifestyle. Change your lifestyle from a salary earner to a regular investment portfolio. DO YOU AGREE WITH THIS?
Hi I am currently in a foreign country and will be here for several months. I’m not purchasing a international plan and I am currently only using wifi to access my phone. Every time I try to log into Binance it wants to send a confirmation code via text message but I cannot receive texts right now. Is there a way I can get it to send the confirmation code to my email or something?
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Hello, a couple of years ago I've invested some money in cryptocurrencies on Binance and now I want to withdraw that money. My problem is that they are split between 10+ cryptocurrencies. What is the fastest and the most cost-effective way for me to withdraw all of my money? Also how long would it take for me to do that?
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During heavy trading volume, I've noticed that the trade and ticker websocket streams (which have real time updates) begin to exhibit significant delays. Updates that normally take <5ms to arrive during normal trading volume start to take 30-100ms to arrive. What is causing this delay, and are there any engineering tricks that I can use to try and speed it up?
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I recently got interested in crypto trading and made a Binance account earlier. I had planned to purchase around $20 worth of Bitcoin to start, and depending on how everything goes perhaps purchase more at a later date.
When I went to buy via Visa, I got a notification saying that my limit to purchase is $0, and that in order to raise my limit to $5000 I need to verify, among other things, my face and a piece of government ID. While address and name are fine, face and ID are raising some serious red flags for me (as someone who is nervous about identity theft). I read the terms of service, certainly, and I understand the need for security, however facial recognition seems rather excessive for low level trades (I can hardly see myself making several grand).
Is the only way I can purchase bitcoin through Binance to verify my face?
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I’m entering all the correct information. I’ve checked about 20 times. It’s saying it can’t match my name to my address, but I’ve lived at my current address for 19 years. I thought maybe it was because I wasn’t adding “JR” after my last name, but that wasn’t it either. I’ve tried everything. Any suggestions?
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About a week ago my account was deactivated with no explanation. When I try to reactivate it I get to a screen, after tapping "I understand", that just loads and loads forever. I tried emailing binance and have not received a response after a few days. Has anyone else experienced this before?
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