Bitpanda wants to update its VIP loyalty program, the Bitpanda Ecosystem Token, in the new year 2022. New functions, it was finally time. Bitpanda now has around 3 million customers. With such a large customer base and a good token, this Bitcoin exchange can slowly compete with the big ones like Binance, KuCoin and whatever they are called. Because Bitpanda has a lot that others don’t. Good support in German, coveted European licenses, a decade of experience and still plenty of pioneering spirit. If you want, you can via the invitation link at the bottom of the article create an account. However, there is a little bit of criticism of the ecosystem token.
First of all, what’s new about the BEST 2.0 token? One good thing is that it is now much easier to get into the VIP program. All you need is a verified account and 10 BEST tokens in the depot. Almost like with the KuCoin Shares, where you can already earn 6 shares.
The BEST tokens now also give more interest. Allegedly up to 15% per year. The interest is paid weekly. The rest stays about the same. Bitpanda writes to customers in its newsletter:
At the beginning of the coming year, our BEST loyalty program will receive its eagerly awaited upgrade and as a BEST holder we want to introduce you to all the exciting benefits in advance of the official launch.
BEST VIP Level 1 from only 10 BEST
BEST is there for everyone, which is why we are turning the previous three BEST VIP levels into five. From only 10 BEST you can call yourself BEST VIP Level 1 and have access to our exclusive world of advantages.
Claim your BEST Rewards and receive more than 15% additional BEST per year. Please note that from Q1 2022 BEST Rewards must be claimed and paid out weekly (instead of monthly).
Take your BEST Rewards to the next level with our new Instant Trade Bonus. Depending on your VIP level, you will instantly receive back up to 0.25% of your trading volume in BEST.
Bitpanda takes and burns up to 25% of all BEST in the amount of collected revenue by paying trading surcharges from BEST VIPs. The burns take place at monthly intervals until a maximum of 75% of all BEST (with an original inventory of 1 billion BEST) have been destroyed.
From December 16, 2021 you can agree to our new terms and conditions for BEST 2.0 and the Bitpanda loyalty program.
Those who agree can agree to the new terms and conditions for BEST 2.0 and the Bitpanda loyalty program from Thursday, December 16, 2021.
The update was long awaited. Because before that, the VIP levels were just too high. Who wants to have thousands of francs on a Bitcoin exchange? Despite European licenses, deposit protection only applies to euro balances. Well that’s fixed.
A few more functions should have been. As with the KuCoin Shares, it would be great if you could profit from the future success of Bitpanda, or even have voting rights. Voting rights for strategic decisions and the inclusion of new tokens.
It would also be good if the token could be traded on other exchanges and DeFi applications. Something like that creates trust and ultimately it goes in the direction of the token economy.
And speaking of the token economy, one or the other function would have been great. As a Swiss tourist you would definitely like to see the ferris wheel in the Prater or the museum of the future, the Ars Electronica Center in Linz, pay with BEST Token. But it just has to be, hold up your cell phone and beep, entry is granted.
Nonetheless, Bitpanda is one of the most exciting Bitcoin exchanges of our time and it can be worthwhile to create an account here:
Bitpanda gives away BEST to all active users every month (1 trade per month is sufficient):
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Bitpanda Ecosystem Token: Now comes BEST 2.0