Binance Offers $100,000 USDC Rewards and Loss Protection for Spot Trading Participants
Peter Zhang Aug 07, 2024 03:55
Binance announces a promotion for new and existing users, offering $100,000 USDC in rewards and loss protection for Spot trading activities.
Binance, one of the leading cryptocurrency exchanges, has unveiled a new promotion aimed at incentivizing Spot trading on its platform. According to Binance, the promotion will distribute $100,000 USDC in rewards and offer loss protection to new and existing users who participate.
Promotion Period and Eligibility
The promotion runs from August 7, 2024, 03:00 (UTC) to September 8, 2024, 23:59 (UTC). It is open to new, regular, and VIP 1-3 users. Participants must engage in depositing, copying, automating, or trading any available tokens on Binance Spot during this period.
To be eligible, users must confirm their participation and complete specific tasks. The first 9,000 eligible users can earn up to 10 USDC in token vouchers each. Additionally, the first 1,000 new users who have not previously engaged in Spot Copy Trading will receive loss protection of up to 10 USDC in token vouchers.
Loss Protection Explained
Binance will subsidize losses up to 10 USDC for new users' first Spot Copy Trading order during the promotion period. The loss amount is calculated by the difference in the Spot Copy Trading account balance before and after copying at the end of the promotion period.
Terms and Conditions
All verified users who register during the promotion period are eligible to participate. However, the promotion may not be available or could be restricted in certain jurisdictions due to legal and regulatory requirements. Trading volumes on all FDUSD, TUSD, and USDT trading pairs will not count towards the trading volume requirement for EEA users.
Token voucher rewards will be distributed within 21 working days after the promotion ends and must be claimed within two weeks of distribution. Binance reserves the right to disqualify participants who tamper with the program code or engage in fraudulent activities.
For detailed terms and conditions, users can visit the official announcement on Binance.
Important Considerations
Binance advises users to be aware of the risks associated with digital asset trading. Prices can be volatile, and users may not get back their initial investment. The exchange also underscores the importance of understanding the risks involved in copy trading, which can be particularly risky when following inexperienced traders.
Users are encouraged to consult independent financial advisers before making any investment decisions. Additional information on responsible trading can be found on Binance's Responsible Trading page.
Image source: Shutterstock