Binance, the arguably largest cryptocurrency by trading volume has recently announced the launch of 50,000 BNB ($1,100,000) community giveaway.
The new development was announced by the exchange via its official website and its official Twitter handle about three days ago.
According to the exchange, the liberal giveaway is meant to appreciate the Binance community members for their unwavering support so far. And the promotion is reportedly in two forms.
The promotion starts on 24th February 2020 at 00:00 AM and ends on 27th February 2020 at 00:00 AM (UTC).
The first form of the promotion involves the users that will trade 1 BTC or more (including buy and sell) on Binance spot or margin markets within the promotion period. These users will stand the chance to share a 40,000 BNB prize pool.
The second form of the promotion involves all users that trade the equivalent of 1 BTC or more on Binance Futures within the promotion period, and will respectively stand the chance to split a pool of 10,000 BNB.
Potential and interested users who don’t have a Binance Futures account already can follow this link as provided by the exchange for a 10% discount on trading fees across all contracts for the first month.
Terms and Conditions Guiding the Promotion
- According to the report, Binance has the right to cancel or amend the Activity or Activity Rules at its discretion.
- Every user is free to participate in both Promotion A and B and be rewarded for both activities simultaneously.
- Both Promotions include trading volume from all available pairs on Binance Spot or Margin markets and Binance Futures
- Binance has the absolute right to disqualify trades that seem to be wash trade or illegal bulk registration accounts, self-dealing or displaying any form of manipulation.
- Sub-account and margin account trading volume will be combined with the master accounts standard trading volume in the final calculation.
- All participants will be rewarded within 2 weeks after the conclusion of the competition. All participants possess the ability to login and check their rewards through the Distribution History from their Account Center.
In conclusion, the Binance exchange warned its users and potential participants of the risk that abound in cryptocurrency trading due to market volatility. All users are thereby implored to trade cautiously and responsibly.