In a move to commemorate the festival of Diwali, Binance has rolled out a targeted promotion for peer-to-peer (P2P) merchants situated in selected South Asian markets. This special initiative, active from October 28 to November 7, 2024, enables eligible traders to elevate their P2P Merchant VIP status and benefit from discounts of up to 50% on maker fees, as announced by the exchange.
Promotion Details
As part of this promotional effort, Binance has reached out to potential participants via email, in-app messages, and notifications. Those wishing to take part need to register on Binance’s promotional page and fulfill designated tasks throughout the promotional timeline. Only those participants who achieve a minimum order completion rate of 90% on the Binance P2P platform will qualify for the associated rewards. It is important to note that each user is limited to a single VIP level upgrade, with individuals already holding a VIP 3 status being ineligible for further advancements.
Requirements and Eligibility
This promotion is exclusively available to verified P2P merchants operating within the South Asian region. To participate, merchants must ensure their accounts are fully verified and register during the designated promotional period. The total maker volume on Binance P2P will be utilized to determine eligibility for the maker volume calculations, with no allowances made for combining sub-account volumes with those of master accounts.
The promotion’s terms clearly state that Binance reserves the right to disqualify any participants suspected of engaging in fraudulent behavior or wash trading practices. Additionally, Binance retains the authority to modify or terminate the promotion at its discretion.
Implications for P2P Merchants
This promotional initiative underscores Binance’s commitment to deepening its engagement with a growing user base in South Asia, a region increasingly interested in cryptocurrency trading. By providing financial incentives and opportunities for VIP upgrades, Binance is striving to enhance activity on its P2P trading platform while improving user satisfaction during the festive period.
Such initiatives reflect a broader trend within the cryptocurrency exchange industry, where platforms are actively working to stimulate user participation and foster community connections. As competition intensifies in the crypto market, exchanges like Binance are continually adapting their promotional avenues to attract and maintain their user base.
For further insights into the Binance P2P Merchant VIP Program and the specified maker fee discounts, users are encouraged to consult Binance’s official FAQ section.
