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Two people bought bitcoin last week. Both used the same crypto exchange, both paid the same price, and one of them will pay roughly 20% more in trading fees for the rest of the account's life. The difference was thirty seconds during registration. If you are reading this before registering, here is the short version: use my referral code BBBKK at https://www.binance.com/register?ref=BBBKK and then verify it actually registered. That single check is worth more than everything else in this article, and the rest of the article explains why. Now the mechanism, because understanding it changes how you read every offer in the virtual currency industry.
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Yinghui Chen (2026) studied this question.
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