Popular crypto exchange Binance has announced the launch of its Binance Payday event, teasing rewards of up to $200,000. According to the announcement, only users who shop for the holidays using cryptocurrencies will be eligible for the rewards. However, the event clause requires users to shop from Binance Pay merchants participating in the program.
The announcement clarified that the event will reward about 19,480 eligible shoppers, offering them cashback of up to $200,000 in Pepe tokens. The promotion is billed to begin on November 28 and will run till December 12.
Binance Pay users set to earn mouth-watering rewards
The crypto exchange noted that the eligible Binance Pay users will earn from a cumulative pool of $200,000 worth of Pepe tokens. The eligible users who shop with the approved merchants will be rewarded, with the exchange confirming that the promo will feature two phases.
The first phase will see eligible shoppers earn a $10 cashback in Pepe for every $20 spent on shopping. This cashback reward will be available to eligible users on a first-come first-served basis. Binance clarified that users are only allowed to earn cashback once during this promotion phase.
Meanwhile, the second phase of its payback promotion will reward only the top 100 shoppers who use Binance Pay. However, the users need to have spent a cumulative of $200 either in a single purchase or in different purchases from eligible merchants. The exchange noted that it will critically assess the total volume of each user to determine its refund rate.
The shoppers chosen in the second phase of the program will also be put in a category to share from a $5,200 PEPE prize pool. In addition, the top spenders from this phase will earn about $350 worth of Pepe tokens. Binance confirmed in its statement that it will use an exchange rate of 0.0000190758 PEPE/USD to calculate the rewards.
Binance provides a meeting point for merchants and shoppers
Reacting to the news, Binance chief marketing officer Rachel Conlan said the exchange wanted to make it easier for shoppers to meet merchants on the platform during the festivities. “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 while enjoying the speed, security, and cost-effectiveness of utilizing Binance Pay,” she said.
Conlan noted that shoppers can shop with ease, eliminating all the bottlenecks and difficulties during this period. Aside from that, she highlighted the benefits and other values shoppers can gain from the campaign by using Binance Pay.
Meanwhile, the event promises to provide a meeting point between merchants worldwide and shoppers. Shoppers can earn rewards irrespective of who they patronize or what they buy, provided the merchant is eligible for the program. According to Binance, the platform has over 11,000 merchants providing services to millions of users worldwide.
Binance’s Binance Pay is the ultimate platform to make purchases, offering a wide range of products. The exchange mentioned that users can purchase products as big as a car, or invest in real estate in Bahrain. It is also open for smaller purchases like groceries and can be used to book flights while paying with cryptocurrencies.
The post Binance launches new promo, teases $200k cashback first appeared on Coinfea.
