Categories: Cryptocurrency

Binance launches 12.5 BTC bounty to encourage crypto trading

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Leading crypto exchange Binance is trying to encourage more activity on its platform by offering a 12.5 Bitcoin giveaway in order to market this week’s third halving.

Binance announced the program for its users in an effort to encourage them to buy more crypto—in its own words, “complete tasks, Earn BTC.”

From May 11 to 18, users will have the opportunity to win some Bitcoin by completing the following tasks:

  • Complete a crypto purchase of any amount using any of its fiat to crypto options or via the P2P platform.
  • Complete US$500[AU$763] or more equivalent trading volume in BTC spot trading pairs.
  • Refer a friend and have them successfully open a Binance Futures account.
  • Complete $1,000 or more in trading volume in the BTC/USDT Binance Futures perpetual contract during the activity period.

The total prize money will be split between those who successfully complete the tasks.

Meanwhile, the move is a coy one since the crypto exchange platform also profits from trading commissions and spreads, therefore, the “giveaway” scheme can be partially funded by the extra revenue generated.

The Bitcoin halving, which will finally happen tomorrow, will reduce the current block reward of 12.5 BTC down to 6.25 BTC.

Image courtesy of TheDigitalArtist/Pixabay

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

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Martin Young

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