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Welcome to the seventh instalment of the Bitpanda Ecosystem Token Recap. In this series, we’ll tell you everything you need to know about BEST, such as updates, token burns and rewards. So without further ado, let’s just jump right into it!

BEST Rewards are a success

In case you missed it, we recently introduced a new and exciting loyalty programme called BEST Rewards. With this, you can increase your BEST holdings by up to 12.78% a year. All you have to do is hold BEST in your Bitpanda wallet and do at least one monthly trade (see details below). The higher your BEST VIP level and the more you trade, the more BEST you collect.

Since we announced BEST Rewards on the 31st of March, we’ve seen that our users are getting more and more involved in our new loyalty programme. Here are some interesting numbers and stats:

  • Over the first two months, more than 40,000 Bitpanda users participated in the BEST Rewards programme.
  • Around 25,000 users claimed their BEST Rewards in May, a large increase from 15,000 when we launched the programme in April.
  • On the 1st of June, around two million BEST were distributed as BEST Rewards to users.

More transparency with our new “My BEST” section

As we are constantly adding more features and upgrades around BEST, we’re excited to introduce the all new “My BEST” section in your Bitpanda account settings. In this new section, you can see more information about your BEST level, your trading volume and how much BEST you’ll be able to collect for the month. Plus, it makes it unlikely that you’ll miss your chance to claim and trade each month. This feature can be found in your account settings online, on iOS and on Android.

Let’s look at the BEST statistics for May 2020

In February 2020, 26.2% of active traders used BEST to pay trading premiums. As you can see from the graphic, in March 2020, this settled at 25.2% before surging to 29.0% in April. Lastly, in May 2020, BEST soared to 30.6%, we can only speculate this was due to the new BEST Rewards system.

To conclude, in May 2020, we found that 24% of the total trading premiums on Bitpanda and Bitpanda Pro were paid using BEST. If you take a look at our BEST recap #6, you’ll see that 25% of trading premiums were paid using BEST in April. Overall, we are really happy to see that around a quarter of all trading premiums on both Bitpanda and Bitpanda Pro are being paid using BEST.

All in all, we’ve had a good month of BEST usage due to the BEST burn in April, BEST coin votings and now the BEST rewards programme. As a matter of fact, in the first two months, more than 40k users claimed their rewards. You can participate too if you haven't already! Here’s what you have to do.

Are you inspired and ready to buy some BEST?

You can buy BEST on Bitpanda or Bitpanda Pro. You can also swap any supported cryptocurrency, stablecoin and even digitised gold, silver, palladium and platinum to BEST. Happy trading!

Please note that we will stick to our policy to not report the exact amount of BEST collected for competition reasons.