BEST is getting even better: A letter from Bitpanda CEO Paul Klanschek

Dear Bitpanda community,

As some of you know, I like to keep a very close relationship with you, our users. Whether that’s on Twitter or in one of our Telegram groups: I love engaging with you guys, hearing what you have to say and making the Bitpanda Ecosystem Token (BEST) as successful as possible with your direct feedback.

In this post, I would like to give you a bit of a longer insight into what I and Bitpanda as a company have got planned for BEST and what will happen over the coming weeks.

BEST listed on two major exchanges

As most of you already know, BEST will soon be available to trade on Bitfinex and on Bittrex Global, which rank in the top 10 cryptocurrency spot exchanges according to coinmarketcap.com. You may know that I was a bit sceptical about exchange listings, but I think the recent volume of BEST (over €1m daily volume on Bitpanda Pro) and also its price-performance makes BEST an interesting asset beyond the Bitpanda ecosystem. That’s why we want to give as many people access to BEST as possible. However, it’s worth bearing in mind that you can only get the most out of BEST by keeping your holdings on Bitpanda - as you only receive trading premium discounts and can only claim your BEST Rewards and more there.

Getting closer to a proper listing on coinmarketcap.com

The fact that we’re getting BEST listed on two major crypto exchanges also means that we are getting closer to finally meeting the requirements for a correct listing on coinmarketcap.com. Judging from the recent price developments and the respective increase in BEST’s market capitalisation, we then expect to see BEST among the top 100 cryptocurrencies in the world.

Possible rework of the BEST VIP levels

There were quite a few discussions going on about this topic within our Telegram community over the past few weeks. We hear you and are aware that it is getting harder and harder for users to even reach BEST VIP level 1. I can’t go into too much detail at this point, but we are looking into different solutions on how we could restructure the levels.

Celebrating an extremely successful token burn

Both the influx of new users and trading volumes went crazy over the past weeks. This was clearly visible in our latest BEST token burn, in which we burned (destroyed) 35,722,204 BEST - the equivalent of €12,002,660 on the day of the burn, the 28th of January, 2021. And judging from the volumes we had so far in February, we are expecting another really successful burn on the 29th of April, 2021.

BEST Rewards is a huge success as well

Finally, we’re really happy about how the BEST Rewards programme is developing. Especially with the recent price increase, receiving up to 12% additional BEST throughout the year is a really good reason why a lot of users are not selling, but rather keep accumulating more and more. We recently hit another record number of claims and we see that more and more new users are joining in to receive their BEST Rewards.

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