Peter Zhang
Aug 7, 2024 03:55
Binance has announced a promotion for new and existing users, offering $100,000 worth of USDC rewards and loss protection for spot trading activities.
Binance, one of the major cryptocurrency exchanges, has unveiled a new promotion to encourage spot trading on its platform. According to Binance, the promotion will reward $100,000 USDC and provide loss protection for new and existing users who participate.
Promotion Period and Eligibility
This promotion will run from August 7, 2024 03:00 (UTC) to September 8, 2024 23:59 (UTC). Open to new, regular and VIP 1-3 users. Participants must deposit, copy, automate or trade any token available on Binance Spot during this period.
To qualify, users must verify their participation and complete certain tasks. The first 9,000 qualified users will each receive a token voucher worth up to 10 USDC. Additionally, the first 1,000 new users who have never participated in Spot Copy Trading before will receive loss protection with a token voucher worth up to 10 USDC.
Loss Protection Description
Binance will subsidize up to 10 USDC in losses for new users’ first spot copy trading order during the promotion period. The loss amount is calculated as the difference in the spot copy trading account balance before and after copying at the end of the promotion period.
Terms of Use
All verified users who register during the promotion period are eligible to participate. However, the promotion may not be available or may be restricted in certain jurisdictions due to legal and regulatory requirements. Trading volumes for all FDUSD, TUSD and USDT trading pairs are not included in the trading volume requirement for EEA users.
Token voucher rewards will be distributed within 21 days after the end of the promotion and must be claimed within 2 weeks of distribution. Binance reserves the right to disqualify any participant who manipulates the program code or engages in fraudulent activities.
Detailed terms and conditions can be found in the official Binance announcement.
Important Considerations
Binance advises users to be aware of the risks associated with trading digital assets. Prices may be volatile and users may not recover their initial investment. The exchange also emphasizes the importance of understanding the risks associated with copy trading, which can be particularly dangerous when following inexperienced traders.
Users are advised to consult with an independent financial advisor before making any investment decisions. Additional information on responsible trading can be found on Binance’s Responsible Trading page.
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