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Crypto.com will sell Bitcoin at “50% off” in September, here’s why

Crypto.com will sell Bitcoin at “50% off” in September, here’s why

Hong Kong-based crypto exchange and card provider Crypto.com is launching an attractive competition for Bitcoin fanatics in September, ahead of its “public beta” exit.

Bitcoin at 50% off on Crypto.com

The Crypto.com Exchange will exit its public beta on September 8, 2020, almost a year after launching in private beta and opening the floodgates to the public. Millions of dollars in transactions and trades later, the exchange is rolling out its launch in all markets where the Crypto.com App is available.

As a token of appreciation, Crypto.com is presenting a Bitcoin Syndicate Special, featuring BTC at 50% off with USD$2M allocation, it shared in a release with CryptoSlate. 

This event will commence on Tuesday, 8 September 2020 at 6 AM UTC on the Crypto.com Exchange. Users can stake a minimum of 5,000 CRO on the Exchange and trade at least $5,000 USD worth of volume in the past 30 days on the Exchange to subscribe.

The total sale amount & subscription price is as follows:

  1. Total BTC Supply: $2,000,000 USD worth of BTC
  2. Discount rate: 50%
  3. Syndicate Allocation: Each participant’s maximum amount of CRO that can be applied towards the event will depend on the amount of CRO Staked on the Crypto.com Exchange.

As a note — the maximum allocation in CRO stated in the table above is indicative and for reference only. A final maximum allocation will be made available on Crypto.com on September 8.

Syndicate Allocation Subscription

Crypto.com Exchange users will be able to subscribe for BTC by contributing an amount of CRO  not exceeding their respective maximum allocation. Staked CRO may not be used to subscribe for BTC in this event, the firm said.

Crypto.com Exchange users will need to trade at least $5,000 USD worth of volume in the past 30 days on the Crypto.com Exchange in order to be eligible to subscribe.

The release said that “the past 30-day trading volume is calculated every day at 00:50:00 UTC; thus, the volume calculated as of 8 September 2020 00:50:00 UTC will be used to determine one’s eligibility.”

Event participants are expected to receive their finalized BTC allocation at Distribution Time. If the total contributed amount for the event is above the total discounted allocation, each individual participant’s final BTC coin allocation will be calculated as follows:

Terms and conditions apply, and traders from China, Hong Kong, and the US and China, are exempt from taking part. All details are available on Crypto.com.

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Posted In: , Adoption

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