A referral bonus on cryptocurrency exchanges is a reward program designed to encourage users to invite new traders to the platform. When an existing user shares a unique referral link or code with friends, both the referrer and the new user can receive incentives once certain conditions are met. These rewards may include trading fee discounts, cash bonuses, commission percentages, or free tokens.

Many major exchanges, such as Binance, Bybit, and Coinbase, offer structured referral programs. Typically, the referrer earns a percentage of the trading fees generated by the invited user. For example, if the new trader executes trades, a small portion of the fees they pay is shared with the person who referred them. Some platforms also provide one-time bonuses after the new user completes identity verification or reaches a minimum trading volume.

Referral programs benefit exchanges by helping them grow their user base organically. Instead of relying solely on advertising, platforms reward their community for promoting the service. For users, it creates an opportunity to earn passive income without actively trading.

However, the terms and conditions vary between exchanges. Bonus amounts, eligibility rules, and payout methods differ, so users should carefully review program details before participating. Overall, referral bonuses are a marketing incentive that rewards loyalty and community growth.