Blockchain ecosystem supporting Binance, the world’s largest cryptocurrency exchange, has introduced Binance PayDay, its first global cryptocurrency shopping event. This initiative aims to promote and incentivize the use of cryptocurrency for real-world purchases, particularly during the holiday season.
Running from November 28th to December 12th, Binance PayDay allows participants to earn a share of $200,000 in PEPE rewards. To qualify, users must shop with selected merchants using the Binance Pay feature, providing an additional incentive to integrate cryptocurrency into everyday transactions.
“Binance PayDay is all about allowing users to experience the convenience and benefits of crypto payments during the holiday season,” said Rachel Conlan, Binance’s Chief Marketing Officer, in a written statement. “With cashback rewards and a wide range of participating merchants, we’re making it easier than ever for users to shop for everything from everyday essentials to luxury items, all while enjoying the speed, security, and cost-effectiveness of utilizing Binance Pay. This campaign showcases how crypto can enhance shopping by offering users greater value and flexibility,” she added.
The event introduces two key promotions aimed at maximizing user rewards and encouraging participation. In the first promotion, users who complete a single transaction of at least $20 equivalent with participating Binance Pay merchants are eligible to receive $10 back in PEPE tokens. This offer is limited to the first 19,480 qualifying participants, distributed on a first-come, first-served basis. The second promotion is designed to reward high spenders. The top 100 users who accumulate a minimum of $200 in cryptocurrency purchases with selected merchants will share a $5,200 PEPE prize pool, with the highest spender receiving up to $350 in PEPE tokens.
What Is Binance Pay?
It is a cryptocurrency payment feature available on the Binance App, designed to provide a contactless, borderless, and secure way to transfer funds. This functionality enables users and merchants to send and receive cryptocurrency payments globally without incurring gas fees for transactions made through the platform.
Supporting over 300 cryptocurrencies for peer-to-peer transactions and more than 80 cryptocurrencies for merchant payments, Binance Pay offers versatility and convenience. It serves millions of users and thousands of merchants across the globe, facilitating seamless and cost-effective cryptocurrency payments for a wide range of use cases.
Binance PayDay unites a variety of merchants, enabling users to earn rewards while fulfilling diverse shopping needs. With over 28 million users and a network of more than 11,000 merchants globally, Binance Pay is reshaping how people utilize cryptocurrencies for everyday transactions.
From high-value purchases, such as luxury cars through LG Dream Cars in France or real estate investments with Bin Faqeeh in Bahrain, to daily necessities like groceries at Pick n Pay in South Africa, Binance Pay covers a wide spectrum of use cases. Additionally, it facilitates seamless booking of flights and accommodations via platforms like Travala and Despegar. This reflects the growing global acceptance of cryptocurrency payments, offering users a secure and efficient way to transact across industries and regions.
Recently, Binance Pay has formed a partnership with Printemps and Lyzi to offer Printemps customers in France the ability to make purchases using digital assets. This collaboration aims to provide a seamless and modern shopping experience, allowing users to pay with cryptocurrency in-store and enhancing the accessibility of cryptocurrency payments in retail environments.
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