BEST Recap #9

Sophie Nicolas

By Sophie Nicolas

Welcome to the ninth 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.

But first, an update on BEST

We celebrated the BEST trading anniversary

The 7th of August, 2020 marked the first trading anniversary of our Bitpanda Ecosystem Token. So we celebrated by hosting a giveaway of 250,000 BEST to our users!

We conducted the third BEST token burn

On the 30th of July, we burned (destroyed) 18,685,933 BEST - the equivalent of €1,476,188. For comparison: in our second BEST token burn which took place on the 30th of April, 2020, we burned the equivalent of €2,058,252 in BEST!

These BEST tokens were permanently destroyed and, like in the first two events, we again burned more than 25% of the BEST used for trading premiums in the time between the 30th of April, 2020 and the 30th of July, 2020.

You can find all information regarding the third BEST burn, with the total supply and the burn transaction here or in our BEST burn recap blog post.

Let’s look at the BEST statistics for July, 2020

As you can see, in April 2020, 29.0% of our traders used BEST to pay trading premiums. This increased to 30.6% in May 2020 and then increased even further to 31.0% in June. And finally, we have 30.1% of trading premiums paid in BEST for July 2020.

In light of our recent BEST trading anniversary, we’re feeling pretty nostalgic. In the scope of just one year, BEST has evolved into the key to getting the most out of Bitpanda, offering our growing community of more than 1 million Bitpanda users a wide range of rewards and benefits. We’re still happy to see around a quarter of all trading premiums on both Bitpanda and Bitpanda Pro are being paid using BEST!

If you haven’t already heard, our BEST users are now able to claim rewards using our BEST Rewards system. In fact, in the first three months, over 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.

Sophie Nicolas

Sophie Nicolas