Binance is wooing Nigerians to join its exchange platform by offering rewards to existing customers who through their referral links bring in new customers into the exchange.
In an email sent to Nigerians on its platform, Binance offers 700 NGN in BNB per invitee and existing customers are allowed to invite as many as they can.
According to Binance, “if you invite 1,000 friends within a week, you could make up to 700,000 NGN.”
In order to curb spamming, for any invitee to qualify to gain his/her upline the reward, the invitee is expected to verify their accounts and must trade either by buying or selling cryptocurrencies of at least 5000 Naira by the end of November, 2019.
Every customer who desires to participate in referring customers is also expected to have a verified account.
According to Binance, the distribution of the BNB will be made once every week to the exchange wallet of participants.
Other than the 700 NGN rewards in BNB, participants are also to enjoy up-to 40% commission off their trading fees every time they trade but this is dependent on the number of people invited.
The drive to see the acquisition of Nigerian customers on its platform has made Binance to partner with Flutterwave to allow the easy purchase of cryptocurrency on its binance.com platform.
The fiat gateway which currently has a restriction of 430,000 NGN and a few of 1.4% has not been found to be interesting by the Nigerian community. This has mostly necessitates Binance creating a survey to get the opinion of Nigerians on the fees charged. The survey is ongoing.
Binance says it reserves the right to cancel or amend the campaign and the rules at our sole discretion.
Crypto Exchange Binance Might be Investigated for Money Laundering in India
What are shitcoins? Watch this Video to learn
Appealing to Regulators, Binance launches a Tax Reporting Tool
Leaving China, Crypto Exchanges Cancels Most of their Chinese Businesses
Patricia sponsors Big Brother Naija the 2nd time after recording 13k Users in 12 Hours
Yes! Bitcoin at $38k, See Why they Say It Has A Mind of its Own
The CBDC will lower the cost of doing business – CBN
Nigeria’s CBDC to Run on Hyperlegder Fabric
NatWest Suspends Payments to Binance
Watch the Latest Edition of Inside Blockchain – 29th Nov. 2020
Crypto Roast is LIVE – 27th Nov. 2020
AMA Series with Beam CTO & Tech Lead, Alex Romanov
Keep it Locked on to Cryptotvplus
Inside Blockchain | 16.11.2020
How Blockchain Technology Can Transform Governance In Africa
Inside Blockchain: WHY YOU SHOULD BECOME A BLOCKCHAIN DEVELOPER
Hedge Trading on OKEx
Trading cryptocurrency seems cumbersome to new traders, especially those new to the crypto space. There have been a lot of...
The Chances of BTC Dropping to 40k Is Slim – Prateek Suri
The founder and Chief Executive Officer of the Maser group, Prateek Suri joined Tony Obiajuru this morning, 15th March, 2021...
Binance Smart Chain; CeFi or DeFi?
The controversy around whether or not the Binance Smart Chain is centralized or decentralized was cleared on the Inside Blockchain...
How Earnathon is Making Crypto Adoption Easier
Earnathon is making cryptocurrency education and adoption easier with its unique learn and earn platform. It’s no news that the...
NaijaCrypto CEO Says CBN Cannot Ban Cryptocurrency Trading
The Chief Executive Officer of NaijaCrypto, Chiagozie Iwu has said on the Inside Blockchain Show powered by CryptoTVPlus that the...