BEST • 5 min read
By Raphael Schön
BEST offers so many benefits that it’s hard to keep track of everything. That’s why we want to list some of the, wait for it, best reasons why you should consider investing in the Bitpanda Ecosystem Token.
Bitpanda is growing. Not only in terms of team size (we are about 120 full-time team members as of July 2019), but also in terms of supported countries beyond Europe. Alongside, we are already working on even more exciting products and features, which will expand the investment platform even further. It’s simple: the more people who use Bitpanda, the more people who will use BEST.
This is pretty straightforward: The earlier you invest, the more BEST you get for your money. During the first phase of the BEST IEO (starting on the 19th of July 2019), you pay €0.09 per token. The price per BEST increases gradually afterwards. During phase two (starting on the 16th of July 2019), you pay €0.095. In the last phase, which lasts 2 weeks and starts on July 23rd, the BEST price increases to €0.10. So be quick and grab some BEST as early as you can.
When you hold BEST in one of your Bitpanda wallets, you can choose to pay trading fees with BEST. Through this, you receive a 25% discount on trading fees on both the Bitpanda platform and Bitpanda Pro. So even if you are not interested in BEST as a speculative asset, it’s still a good idea to hold some BEST to get a significant discount on trading fees. Please note that this feature will be available from Q4 2019.
Here’s something for the more ambitious traders among you: when you pay trading fees on the Bitpanda platform or Bitpanda Pro in BEST, we guarantee a minimum value for BEST on our platform. This means that when you use BEST to pay for fees, it’s either worth its current market value or, if the market value is lower, the minimum BEST value for fees. 1 BEST has a minimum value for fees of 0.12 EUR on Bitpanda in the first year, plus users get an additional 25% discount for paying fees with BEST. The minimum BEST value for fees increases in the first 5 years over time by 10% each year, as you can see here:
As BEST can be used by users to pay for discounted fees on Bitpanda, the BEST spent will be constantly burned by us. This means that over time, as our platform grows in size, user number and as more BEST is used to pay for trading fees, 25% of the amount of BEST received on a quarterly basis will be burned. The total BEST supply will constantly decrease until 50% (500,000,000 BEST) of the total supply has been destroyed.
Holding at least 5,000 BEST gives you priority access to the upcoming Bitpanda Launchpad on Bitpanda Pro. On Bitpanda Pro you will have access to unique investment opportunities. You could, for example, even invest in Real Estate through Initial Exchange Offerings (IEO). Our goal is to offer our users easy access while providing consultancy to interested third parties. The Bitpanda Launchpad will play a significant role in our vision of becoming an investment platform for all kinds of digital assets.
In case you happen to be a Bitpanda Affiliate or are thinking about becoming one (which would be great of course) you also get special benefits for holding a specific amount of BEST. As soon as you have at least 50,000 BEST and reach Reward Level 2, you start earning 14% (instead of 10%) of revenue share straight away for customers you refer to us (up to 20% maximum). Should you hold at least 500,000 BEST, it gets even better: you reach Reward Level 3 and start earning 18% revenue share.
Ensuring state-of-the-art security is one of our key values here at Bitpanda. However, apart from offering secure cold storage (offline wallets) for storing user funds, using SSL encryption, as well as DDoS protection and security features such as 2FA and session management, it’s also up to every user to take additional security precautions. An additional step could be using a hardware wallet to store your funds. Users who buy at least 50,000 BEST during the BEST IEO get a free TREZOR Model One, and investors who hold more than 500,000 BEST during the BEST IEO get a TREZOR Model T.
As soon as you reach Reward Level 2 (at least 50,000 BEST) you will benefit from lower deposit fees. The deposit fees for SOFORT are reduced to 1.49% (instead of 1.99%) and Visa & Mastercard deposits will be 1.20% (instead of 1.50%). This makes it cheaper for you to instantly deposit money to the Bitpanda platform.
Although the BEST IEO has just launched and Bitpanda Pro is not live yet, we’re already working on a lot more exciting products and features. Our vision is to bring financial products into the 21st century by making it easy and convenient to invest under fair and transparent rules. As the fuel of the Bitpanda ecosystem, BEST will play a crucial role to connect everything. So, if you wish to get the most out of your Bitpanda experience, BEST is the right tool to do so.
Ready to buy some BEST? Head over to Bitpanda and take part in the BEST IEO.
Bitpanda’s Response to the War in UkraineRead more
Bitpanda GmbH ve grup şirketleri (Bitpanda) Türk Parasının Kıymetini’nin Korunması Hakkında 32 sayılı Karar’ın 2/b maddesine göre Türkiye’de yerleşik sayılan hiçbir kişiye yönelik olarak 6362 sayılı Sermaye Piyasası Kanunu başta olmak üzere Türkiye Cumhuriyeti Devleti mevzuatı hükümleri gereği Türkiye’de faaliyet izni gerektiren hiçbir sermaye piyasası faaliyetine dair hizmet sunmamaktadır. Şayet Bitpanda’nın yabancı sermaye piyasalarında vermiş olduğu hizmetlerden Türkiye’de yerleşik kişilerin faydalandığı tespit edilecek olursa tüm zararları kullanıcıya ait olmak üzere bu hizmetler ivedilikle sona erdirilecektir.
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