The Exchange Bithumb plans on using airdrop process for coins distribution
Bithumb is one of the biggest cryptocurrency exchanges known in the industry today, especially in South East Asia and Korea. The exchange has just announced one of the most exciting projects for a Super airdrop festival in order to test and initiate the system, for any registered trader on the platform. The company posted on its Twitter account on November the 12, that said the platform will be highlighting the event as a giveaway which will involve 15 BTC’s. The cryptocurrency airdrop will be given to random Bithumb members that log in between November the 12th 2018 , and December the 11th 2018. The airdrop Festival will be explained according to an article that accompanies the event. The BTC’s will be worth 100 million and that will be given to members of the platform by drawing the applied members, members will be able to click on the button that says EVENT after they have logged in. Bithumb has also stated that there will also be a second event that will also be detailed, more information on this will be provided soon.
The airdrop event is based on Bithumbs company celebrations fifth anniversary. The exchange is now one of the top crytpo asset exchanges in South Korean and have proliferated its trading volume of cryptos overtime. According to data from Coinmarketcap Bithumb has consistently reported daily trading volumes of over $1 Billion from its 59 supported cryptocurrencies.
The winner of the first airdrop will be annouced on December the 24th 2018, whom will be receiving the entire 15 BTC amount, in spite of any fluctuations in the price of cryptocurrency’s. The company has also listed another airdrop which goes by the name “Free Commission Coupon for five coins and get an Airdrop every week!”
It appears that the airdrop rewards will be mostly geared towards those that trade the most digital currencies on the platform each week. Starting on November the 12 10,000 Korean Won will be distributed amongst 500 different winners every Monday.
The Altcoins that will be distributed in the platform
If current market prices remain the Bithumb company will be giving away more than $100,000 worth of cryptocurrencies to the winners in the airdrop within the coming weeks. The company has also announced that participation in the second phase of the airdrop will not be free of cost. As this will require users to purchase ‘commission coupons’ for 10,000 Won which is around $9, in order to be able to be considered as a participant in the event for a period of one month , while providing the benefits of temporary commission-free trading on the platform.
Members with the most trading volumes in a given week will be able to gain rewards of about 7 BTC’s, while the subsequently four members that are considered to be in second place, will be awarded with 100 ETH each. As for members in third place, Bithumb has announced that a prize of 8,000 XRP will be given to them. For participants ranking at 4th and 5th, the tokens will be awareded randomly to selected participants at the exchange that is discribed. The cryptocurrencies that will be offered are Bitcoin Gold(BTC), Monero(XMR), Zcash (ZEC), Dash(DASH) and OmiseGO (OMG).
For particpants that rank into the fourth place which will include 35 unique members, who will each receive coins equivalent to 1.2 Million KRW. Those Ranking 5th will recieve 0.8 Million Won to 50 members. However, for the two final places, the winners will receive free commission coupons that can be redeemed on Bithumb for a transaction amount of 300 and 100 million worth of Won.
What do you think of this upcoming Airdrop that Bithumb has announced? Please feel free to leave your comments down below.