Through a press release Binance, the famous crypto exchange, announced a giveaway to celebrate the launch of Ethereum 2.0.
In less than 24 hours the Beacon chain will be launched, the first step towards the completion of ETH 2.0 and, to celebrate the event, Binance has decided to take advantage of this to launch a themed competition for all its users.
This competition will start tomorrow, December 1st, and will last 15 days, until December 15th. In order to win, the trading volumes that are made on the platform for each account will be taken into account.
How to participate in Binance’s Ethereum giveaway
There will be 2 different competitions, depending on the amount a user trades on Binance, in particular with Futures.
The first is for users of VIP Tier 0 and 1 that can win 165 ETH. There will be 320 winners. In order to participate in the giveaway a minimum of 5000 USDT must be traded. The higher the amount traded, the higher the prize could be.
As far as the second competition is concerned, there is a ranking for trading volumes: the top 50 traders will compete for a pool of 155 ETH and the first will take home 32 ETH, while the last 1.20 ETH.
It is interesting to note that the sum of the total prizes made available by Binance is 320 ETH, i.e. 10 times the minimum stake required to become an Ethereum validator in the Beacon Chain.
Beware of scams
This is certainly a good initiative, but it could become a breeding ground for potential scammers and fraudsters, as this competition is referred to as Binance’s Giveaway Campaign, so the advice is to be vigilant in case criminals create similar posts.