20% discount for BEST VIPs
We are happy to announce that all our BEST VIPs on Bitpanda are eligible to receive a 20% discount on the next Trezor they buy - watch out for an email from Bitpanda and use the link to get your discount.
Trezor is the flagship project of SatoshiLabs. Established in Prague in 2013, SatoshiLabs has set out to tackle a wide range of topics in cryptocurrency security and accessibility to pave the way for the adoption of Bitcoin and other cryptocurrencies. Trezor is the world's first cryptocurrency hardware wallet and was developed as a secure tool for crypto users.
Those of you who are new to Bitpanda may be wondering: what is a BEST VIP? Or even: what is BEST? In line with Bitpanda’s mission to tear down the barriers to investing, we created the Bitpanda Ecosystem Token (BEST) to provide Bitpanda users with the key to getting the most out of our platform, and this is BEST.
Get the BEST
BEST was first issued by Bitpanda through an Initial Exchange Offering (IEO) on the Bitpanda platform in August 2019. BEST is a utility token and our ecosystem token, which provides the users of an ecosystem, such as Bitpanda, with additional value through special services and preferential treatment. There are so many advantages to holding and using BEST that we’d best move the spotlight right onto them. You log in to your verified Bitpanda account, you buy BEST and what now?
Claim BEST Rewards every month
If you are a Bitpanda user (not Bitpanda Pro), you qualify for receiving BEST Rewards at the end of each month. To be eligible, you just need to complete at least one trade in that month and then log in to your Bitpanda account via desktop or mobile towards the end of the month and actively claim your BEST rewards.
This way, you can increase your BEST holdings by up to 12.68% a year- the higher your BEST VIP level and the more you trade, the more BEST you collect. That’s right - you can become a BEST VIP on Bitpanda too, read on to find out why this really is the BEST.
Pay your trading premiums with BEST
If you use your BEST to pay trading premiums and fees on Bitpanda and Bitpanda Pro, BEST will be given a guaranteed minimum value. In 2021, the minimum value for the BEST fee collection feature will be €0.132.
This means that, regardless of the current BEST price at the time of your trade, Bitpanda guarantees you that one BEST will have a minimum value of €0.132 when you use it for paying your premiums and fees. The minimum BEST value for trading premiums and fees increases over time by 10% each year in the first five years, starting in 2020.
If you use BEST to pay your trading premiums and fees, you also receive a discount of 20% on your trading premiums. It will simply be deducted automatically from the BEST in your BEST wallet when you make a trade and you don’t need to do anything else.
BEST is on fire
If you don’t hodl BEST, you can also watch it burn on a regular basis. What? That’s right - 25% of BEST received by Bitpanda through fee payments will be “burned” (destroyed) via the burn function in the smart contract at the end of each quarter.
This way, Bitpanda will decrease the total BEST supply until 50% (500,000,000 BEST) of that total supply has been destroyed, continually reducing the number of BEST. Stay tuned for the next BEST burn.
To find out about many more great reasons to buy and hold BEST, we suggest you read this article listing our ten favourite reasons - except that we saved the BEST until last. Almost.
Are you a BEST VIP yet?
Log in your Bitpanda account. If the BEST VIP level in your Bitpanda account dashboard does not indicate anything yet other than you being a “BEST VIP Level 0”, you can check how many BEST you are missing to qualify for reaching BEST VIP Level 1 right next to this indicator.
To reach BEST VIP level 1, you need to hold a minimum of 5,000 BEST in your wallet. BEST VIP level 1 users who complete at least one trade per month can claim an additional +0.05% in BEST at the end of every month. They also get to participate in BEST VIP votes and have their say in decisions on which digital assets Bitpanda adds next. Read more about the most recent BEST VIP coin vote here.
BEST VIP level 2 users who hold a minimum of 50,000 BEST and BEST VIP level 3 users who hold a minimum of 500,000 BEST qualify for even more benefits as Bitpanda keeps adding more BEST features - and you can find all details here. Finally, BEST VIPs also enjoy special benefits when using the brand-new Bitpanda Card, such as cashback in BTC.
Please note that BEST level changes always become effective at 23:59 CET of the day you reach your new BEST level. From that day onwards, you can enjoy all the benefits that come with a higher BEST level.
Happy trading!
