Collins J. Okoth
Binance, the world’s largest blockchain and exchange, launched its ‘Binance PayDay’ crypto cashback event for users who do their holiday shopping with cryptocurrencies. The exchange offered up $200K in PEPE for 19,480 eligible shoppers who shop from participating Binance Pay merchants.
The promotion will run from November 28 to December 12, 2024.
Binance will reward Binance Pay users
The crypto exchange announced the launch of its ‘Binance PayDay’ event, offering holiday shoppers the chance to earn a part of the $200K in PEPE cashback rewards. The promotion will be available to the first 19,480 eligible users who shop at selected merchants using Binance Pay.
The event will feature two promotions.
In the first promotion, shoppers who spend crypto equal to $20 in a single transaction will receive $10 in PEPE back. The cashback rewards will be available on a first-come, first-served basis. The crypto exchange disclosed that each user will only be eligible for one reward in this promotion.
The second promotion will reward the top 100 shoppers who spend $200 and above on Binance Pay through accumulated purchases or as a single transaction at selected merchants.
The exchange clarified that refunds will be considered when assessing the cumulative purchase volume. Shoppers qualifying for the second category will share rewards from a $5,200 PEPE prize pool, and top spenders will receive up to $350 in PEPE.
The exchange confirmed it will use 0.0000190758 as the PEPE/USD exchange rate to facilitate rewards distribution.
“With cashback rewards and a wide range of participating merchants, we’re making it easier than ever for users to shop for everything from everyday essentials to luxury items while enjoying the speed, security, and cost-effectiveness of utilizing Binance Pay.”
-Rachel Conlan, Binance chief marketing officer
Conlan said Binance PayDay is all about allowing holiday shoppers to experience the ease, convenience, and benefits of crypto payments. She added that the campaign will showcase how crypto can enhance shopping by offering shoppers flexibility and great value.
Binance brings together diverse merchants and shoppers
The Binance PayDay event will bring together a range of worldwide merchants and users. All shoppers will be allowed to earn rewards while shopping at (selected) merchant stores for different needs. Binance reports that the payment system is available at over 11,000 merchants worldwide and is used by over 28 million people for daily transactions.
Binance Pay is Binance’s offering for making transactions seamless and secure. It says its Binance Pay can be used in different scenarios, including high-value purchases like buying a luxury car at LG Dream Cars in France or investing in real estate properties with Bin Faqeeh in Bahrain.
Binance Pay is also available for small purchases and everyday essentials, like getting groceries from Pick n’ Pay in South Africa. Global travelers can also use it to book flights and hotels through platforms like Despegar and Travala.
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