Binance Exchange launches VIP Invitation Program, extending VIP privileges to all new users joining the platform.
In an announcement this Tuesday, leading global crypto exchange Binance announced the launch of its VIP Invitation Program, opening up a gateway for new users to become eligible for VIP status. The latest program allows users on other trading platforms (CEXs and DEXs) to join Binance and automatically gain VIP privileges and more rewards using their past trading data.
According to the blog post, new users have an opportunity to bump up their VIP tier level on Binance by simply sharing their 30-day aggregate spot and futures trading from up to two trading avenues. The promotion is set to run from 27th February 2024 at 8.00 AM (UTC) till 28 May 2024 at 11.59 PM (UTC).
How New Users Can Be Eligible For Binance VIP Status
To qualify for the VIP Invitation Program, new users need to share a screenshot or video recording of their 30-day aggregate spot or futures trading volume from up to two trading venues to their sales or key account manager or send it directly to vip@binance.com. The submitted trading volumes should be within the past 90 days before application to the promotion and if a user decides to aggregate trading volumes from two trading platforms, the volumes must be within the same time period.
The 30-day spot and futures trading volume will be checked in accordance with the Binance VIP tier levels, whereby higher trading volumes will offer higher VIP tier levels (as seen in the Binance VIP tier levels here).
The exchange will then take up to two days to respond to eligible new users. Remember, you must complete the verification process on Binance to qualify for the VIP Invitation Program.
Rewards on Binance VIP Invitation Program
If successful, eligible new users will receive a higher VIP tier than the tier level stipulated by Binance for the next two months, once the application is successful. The eligible participants will be instantly upgraded to one VIP level higher than what their trading volumes on other exchange(s) will qualify them for on Binance.
For example, an eligible user with an aggregate spot and futures trading volumes of more than $1 million in 30 days, is qualified to become a Binance VIP level 1, but instead would be upgraded to the next level, Binance VIP level 2 for two months.
Notwithstanding, these new users will also have the opportunity to earn additional rewards once they begin trading on Binance. Those with a 30-day spot and/or futures trading volume that reaches at least 70% of the trading volumes required for their VIP+1 level in the last week of their two-month upgrade period, will be granted an additional month at the same VIP+1 level.
Traders with higher than 100% of their 30-day spot or futures trading volume on Binance for their VIP +1 level in the last week of their first two months will receive another upgrade on their VIP level (VIP + 2) for an extra month. The higher the VIP level the greater the rewards and lower trading fees.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
