What is Binance?

Binance is the fastest growing cryptocurrency exchange platform in the world. Launching on July 14th 2017, they became the third biggest exchange after just 143 days… Fast forward to February 2017 and they have surged past 7 million users, and had the third highest trading volume across all cryptocurrency exchange platforms. Read the full February report here

Binance allows users to exchange popular cryptocurrency coins, generally for Bitcoin, Ethereum or the increasingly popular Binance Coin which allows users a range of other benefits for doing so. 

Binance is said to be valued at close to $2 billion, which, if true would make Binance the fastest ever startup to reach unicorn status (a private company which reaches $1 billion in valuation). Contributing factors to this include the fact the site is extremely user friendly, offers a referral program and now they’re supporting and offering coin airdrops! This article will teach you exactly what an airdrop is and how to take part in Binance airdrop’s

To sign up to Binance click here

What is an Airdrop?

An Airdrop, in cryptocurrency terms is simply when a blockchain based project distributes free coins or tokens to the community. In most cases there will be set criteria for receiving the coins/tokens via an airdrop, generally this is simply that users hold the actual token. 

What Airdrops are being offered through Binance

In the last couple of days Binance have announced that they will be supporting a couple of airdrop’s through their cryptocurrency trading platform.

The first of which was announced 26th February 2018… Binance announced they will be supporting the Ontology Airdrop which was announced by the NEO council at the beginning of February. The NEO council currently manages 10% of the ONT tokens and have announced they will be distributing 20,000,000 (20million) ONT tokens at block height 1974823, which will is estimated to occur March 1st 2018. To read more about the Ontology airdrop click here. Although Binance will be supporting the ONT airdrop they have still announced that ONT will not be automatically listed on Binance 

Ontology (ONT) will go through the same strict listing review process as any other coin/token. It will not be listed on Binance by default.

The second airdrop was announced 27th February 2018 and is not only an incentive for users to hold Binance Coin (BNB), but also is encouragement that Binance may well be offering this as a regular feature going forward…

The airdrop itself will be awarded to the 500,000 Binance accounts with the greatest amounts of Binance Coin (BNB). The coin which will be received by these users is called Blockmason (BCPT) and will amount to a total of 1,500,000 BCPT tokens. Distributing a total of 3 BCPT tokens to each of the top Binance account holders. The announcement saw an initial increase of between 15-20% for Binance Coin with users looking to benefit from the distribution of the free BCPT tokens. 

Blockmason (BCPT) will conduct an airdrop of 1,500,000 BCPT Tokens to the top 500,000 Binance accounts with the greatest amount of BNB. As such, each eligible Binance Account ranked in the top 500,000 will receive an airdrop of 3 BCPT Tokens. The snapshot of BNB balances for the airdrop will occur at 2018/03/02 0:00 AM (UTC).

How to take part in Binance Airdrop’s

It is simple to take part in the Binance airdrops’, you simply need to register on Binance by clicking here. Create an account and watch out for the official announcements. It is not too late to take part in these airdrops either, once you have created your account. Simply purchase NEO and Binance Coin (BNB), hold them on your Binance account. Remember that to receive your ONT coins you will need to wait until Binance officially support Ontology (ONT). To receive the BCPT tokens you will need to be have one of the top 5000,000 Binance Coin balances.