Binance is celebrating Ramadan with a special event, offering 50,000 FDUSD in trading fee discount vouchers for users completing set tasks.
In honor of the holy month of Ramadan, global cryptocurrency exchange Binance has announced a unique event that allows users to share a pool of 50,000 FDUSD in trading fee discount vouchers. The event, which is in line with the spirit of giving during Ramadan, begins on March 14, 2024 and ends on March 28, 2024.
Unlock the Moon: Collect, trade and earn
The event, aptly named “Unlock the Moon”, encourages users to participate in various trading activities to collect Fanoos lantern icon cards. Participants can accumulate these cards by making a deposit of at least 50 FDUSD equivalent via Fiat Deposit, buying crypto with a credit/debit card, or using Binance P2P. Additionally, completing a trade of at least 100 FDUSD equivalent in qualified spot trading pairs will grant users additional cards. Eligible trading pairs include BTC/FDUSD, BTC/USDT, BNB/FDUSD, BNB/USDT, ETH/FDUSD and ETH/USDT.
To foster community spirit, Binance incentivizes users to exchange their collected icon cards with friends or on social media, increasing their chances of generating the “Moon” and claiming their share of the rewards.
Prize Distribution and Terms
The prize for each qualified user will be calculated based on the ratio of icon cards collected to the total number of all participants. However, individual rewards are limited to 10 FDUSD in trading fee discount vouchers, which ensures a fair distribution among all users who successfully complete the tasks.
The event terms and conditions state that only verified users who unlock the Moon and complete a task during the event period will qualify for prizes. Binance also highlights that activity availability may vary by region.
Market and community impact
This special event is expected to increase user engagement on the Binance platform as traders participate to win prizes while celebrating Ramadan. It also demonstrates Binance’s commitment to cultural diversity and inclusion by recognizing important events in diverse communities around the world.
Binance said rewards of trading fee discount vouchers will be distributed within two weeks after the event ends. Users can redeem their vouchers through the Rewards Hub in their profile.
Ensuring fair participation
Binance reserves the right to disqualify any participant engaging in washing trades or other manipulative behaviors. The message of the exchange is clear – the spirit of fair play and community should guide the event, reflecting the values of Ramadan.
Conclusion and considerations
Participants are reminded that despite the festive occasion, trading in digital assets is associated with significant risk due to market volatility. Binance encourages users to trade responsibly and seek independent financial advice if necessary.
This event is an innovative way for Binance to engage with its user base while respecting cultural practices, providing an opportunity for users to participate in the cryptocurrency market in a festive and potentially rewarding way.
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