Details of BEST token burn. Table of Contents
BEST’s seventh burn has concluded
The seventh BEST token burn has just concluded and in it, Bitpanda has destroyed 15,812,733 BEST, which is equivalent to 10,047,410 euros. Read on for the latest on BEST and the seventh burn from Paul Klanschek, Bitpanda’s CEO and co-founder.
It has been almost 2 years since the launch of BEST, the Bitpanda Ecosystem Token.
Many clients have BEST, use it to pay trading fees, taking advantage of a 20% discount, and claim the BEST rewards every month. Although the market seems to be cooling down and the general feeling could be better, Bitpanda is not stopping.
Bitpanda continues relentlessly with Bitpanda’s goal of making the world of investing available to everyone, anywhere.
Go to Bitpanda’s Official Website
BEST’s seventh burn in a nutshell
Bitpanda is happy to see how the popularity of BEST continues to grow, a fact that is also reflected in an increase in people joining Bitpanda’s Telegram groups around BEST, both in German and in English .
In addition to new features and expanded tokenomics (token economics), token destructions play an important role in Bitpanda’s overall strategy for BEST. The main reason why tokens are removed can be compared to share buy-backs by publicly traded companies. These companies “buy back” shares, thus reducing the supply of outstanding shares (unliquidated shares), which increases the value of the shares and benefits shareholders. As you may already know, burning or destruction takes place on a quarterly basis until 50% of the total supply of BEST (initially 1 billion BEST tokens) is destroyed.
In this destruction, the seventh in BEST’s history, Bitpanda destroyed at least 25% of BEST tokens used in the payment of trading fees on Bitpanda and trading commissions on Bitpanda Pro, from April 29 to date. Check here for more information on BEST’s seventh burn, including the destruction transaction. If you want to know how many BEST are still in circulation, take a look here under “Maximum total offer”.
In the following graphic you can check the updated calendar of the next BEST destructions. The next one will take place on October 28, 2021.
What’s new about BEST token on Bitpanda?
Let’s start with BEST Rewards, Bitpanda’s loyalty program capable of increasing your BESTs by more than 12% per year. The only thing you have to do is have BEST in your Bitpanda wallet (not Bitpanda Pro), make at least one trade per month of any digital asset and, of course, ask for your rewards in Bitpanda every month. Also, you can receive more rewards based on your BEST VIP level and your trading volume. So the higher your BEST VIP level and the more you trade, the more rewards you can claim each month. In June alone, more than 85,000 users claimed their rewards worth more than 2,500,000 from BEST.
Remember: if you have BEST on Bitpanda, you can receive a 20% discount on trading fees on Bitpanda and on trading commissions on Bitpanda Pro. Also, since Bitpanda Stocks * is offered without commissions, Bitpanda’s users have the option to pay spread ** with BEST and enjoy up to a 20% discount.
Another thing we’re happy to note is that 23% of active traders used BEST to pay fees on Bitpanda and trading commissions on Bitpanda Pro during the month of June. Overall, the last few months have been stable in terms of trading. use of BEST and currently around a quarter of all trading fees are paid with BEST.
Follow Bitpanda’s latest news here.
Please check Bitpanda official website or contact the customer support with regard to the latest information and more accurate details.
Bitpanda official website is here.
Please click "Introduction of Bitpanda", if you want to know the details and the company information of Bitpanda.
Comment by jetonwhy
February 16, 2025
Anyone else finding it weird that Deriv only allows deposits through Jeton and not bank transfers? They’ve removed crypto too, so now it’s just cards and Jeton. Kinda frustratin...