This festive season, Binance is providing price protection for eligible new and existing users in selected South Asian countries. The first 2,100 eligible users will each receive up to 20 USDT in subsidy for their first BTC purchase.
Promotion Period: 2023-11-10 11:00 (UTC) - 2023-11-30 23:59 (UTC)
During the promotion period, eligible users who have never traded on Binance before the promotion, click on the “Register Now” button, complete their first P2P purchase, and complete their first BTC purchase using the BTC/USDT spot trading pair with a minimum amount of 20 USDT, will be eligible to join this promotion. The first 2,100 eligible users ranked by the time of completing the qualified first BTC purchase, will receive price protection for their first BTC purchase.
Price protection will be executed in the form of subsidy. If the market does not go as expected, each eligible user will receive a maximum of 20 USDT.
Who Are Eligible for Price Protection
Existing users who have not made any deposits or trading activities on Binance before the promotion;
New users who register for a Binance account during the promotion period.
How to Participate:
Register for a Binance account, or log into Binance account;
Click on the “Register Now” button on the activity page;
Purchase any amount of crypto via Binance P2P platform, and complete at least one BTC purchase via the BTC/USDT spot trading pair with a minimum amount of 20 USDT;
The first 2,100 users who meet the above requirements will have the opportunity to enjoy the first BTC purchase price protection, with up to 20 USDT per user.
How Does It Work
If the closing price of the BTC/USDT spot trading pair on Binance at 2023-11-30 23:59 (UTC) is lower than the average transaction price of the user's first BTC purchase on the BTC/USDT spot trading pair*, and the user continuously holds the BTC purchased in that order until the end of the promotion*, Binance will subsidize the loss generated by the order in USDT, with up to 20 USDT per user.
Loss Amount = (Average Transaction Price of the first BTC purchase - BTC/USDT closing price at the end of the promotion) / Average Transaction Price * Transaction Amount;
If the loss amount is less than 20 USDT, the user's subsidy will be the calculated loss amount (in USDT); if the loss amount is more than 20 USDT, the user will receive a 20 USDT subsidy; if the user does not incur any losses, there will be no subsidy.
Related Definitions
The average transaction price, transaction quantity and transaction amount of the user's first BTC purchase using the BTC/USDT spot trading pair can be viewed in Spot Orders - Order History - Order Details.
Continuously holding the BTC purchased in that order: The daily minimum BTC holding amount must not be lower than the transaction quantity of the user's first BTC purchase using the BTC/USDT spot trading pair. If the user's minimum BTC holding is less than the transaction quantity of the first BTC purchase, it will be considered as the user has sold or withdrawn the purchased BTC from that order, and they will not be eligible for the price protection.
Terms and Conditions
This promotion is applicable to users from selected South Asian countries who receive an email, inmail or push notification on this promotion from Binance.
This promotion is only applicable to users who have never traded on Binance before the promotion.
Only users who have completed KYC are eligible to participate in the promotion.
To participate in the promotion, users must click the “Register Now” button on the landing page. After that, users may complete the tasks at any time during the promotion to enter.
USDT subsidies will be distributed in token vouchers 21 days after the promotion ends. Users will be able to log in and redeem their vouchers via Profile > Rewards Hub.
The validity period for the vouchers is set at 15 days from the day of distribution. Learn how to redeem a voucher.
Each sub-account will not be viewed as an independent account when participating in this promotion.
Binance reserves the right to disqualify trades that are deemed to be wash trades or illegally bulk account registrations, as well as trades that display attributes of self-dealing or market manipulation.
Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these Activity Terms without prior notice, including but not limited to canceling, extending, terminating or suspending this Activity, its eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all users shall be bound by these amendments.
Additional promotion terms and conditions can be accessed here.
Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Risk Warning: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.