The Bitpanda Ecosystem Token (BEST) just got even better with BEST Rewards! BEST Rewards is a new, exciting loyalty programme that you can use to 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.
Introducing BEST Rewards is yet another important step in making BEST the central part of the Bitpanda ecosystem. With it, we want to give our dedicated community the chance to collect BEST over time and, for example, pay trading premiums without dipping into their existing BEST holdings.
What you have to do to collect BEST Rewards
- Be a verified Bitpanda user
- Accept the BEST Rewards Terms & Conditions
- Actively claim your BEST rewards once per month
- Hold BEST in your Bitpanda wallet (not Bitpanda Pro)
- Trade any digital asset at least once a month on Bitpanda (not Bitpanda Pro)
By collecting BEST Rewards, you receive at least 0.50% of your BEST holdings on the 1st day of the following month at 1pm CET for the previous month (eg. on the 1st of May, you receive the rewards for April). The snapshot of your BEST holdings, BEST VIP level and total amount traded over the whole month is taken at 11:59:59pm CET on the last day of the month.
How to collect up to 12.78% in BEST in one year
Every user holding BEST in his or her wallet on Bitpanda, who does at least one monthly trade and accepts the monthly pop-up receives the equivalent of 0.50% of their BEST holdings. But you can collect even more!
In addition to the 0.50%, you can receive even more depending on your VIP level on the 1st of each month at 1pm CET:
- BEST VIP level 1: +0.05%
- BEST VIP level 2: +0.10%
- BEST VIP level 3: +0.15%
Plus, you receive up to an additional 0.35% depending on your total amount traded in the previous month (i.e. your trade activity from the 1st day of the previous month at 00:00am CET, until the last day of the month at 11:59:59pm CET):
- monthly trading volume at least (>=) EUR 1,000: +0.05%
- monthly trading volume at least (>=) EUR 5,000: +0.15%
- monthly trading volume at least (>=) EUR 10,000: +0.25%
- monthly trading volume at least (>=) EUR 50,000: +0.35%
In addition to the 0.50% BEST Rewards, a BEST VIP level 2 user (+0.10%) who has already registered for the BEST Rewards programme and accepted the terms and conditions has €5,000 volume (+0.15%) and therefore gets 0.75% (0.50% + 0.10% + 0.15%) of their BEST holdings as a reward for the past month.
In addition to the 0.50% BEST Rewards, a BEST VIP level 3 user (+0.15%) who already registered for the BEST Rewards programme and accepted the terms and conditions has more than €50,000 volume (+0.35%) which means that this user gets the full 1% BEST Reward (0.50% +0.15% + 0.35%).
How your BEST holdings increase over time
Now imagine you collect the BEST Rewards over the course of multiple months. As a BEST VIP level 3 with, let’s say, 500,000 BEST in your Bitpanda wallet and a trading volume of over €50,000, you will end up with 1% more after one month, which means that you then hold 505,000 BEST. Then this amount will be taken into consideration and you will get 1% on this amount and so on. This means that with a monthly increase of 1%, your BEST holdings increased by 12.78% after one year!
Collect BEST while the supply decreases through regular token burns
It’s important to note that the BEST Rewards incentive doesn’t mean that the supply inflates - the opposite is the case. With this new programme, we will be able to burn even more BEST in our quarterly token burns, where we burn at least 25% of the BEST used for trading premiums. With it, we are able to ensure a constantly decreasing supply until 50% of the total tokens are destroyed, while giving BEST back to our most supportive users.
Please note: as this is a customer loyalty programme, please keep in mind that Bitpanda may stop this programme at any time and is not legally bound to give out these Rewards.