Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Decentralized Exchanges (DEX) => Topic started by: BattleAxe1 on May 08, 2024, 12:17:51 AM
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Humans are not equal! At least life has taught us that and our society proves that to be true. Even among cryptocurrency enthusiasts', we have the OGs. I've also taken note of a similar phenomenon in the crypto trading space as leading crypto trading platforms offer several features and services to its users followed by highly coveted exclusive benefits and privileges to their users with VIP status.
I desire to take my trading experience to the next level, as well as gain access to the premium features and services. But I realize the VIP status of customers on exchanges is determined by their trading volume over a period. But I'm not sure if that's all there is. Does anyone else know a thing or two about holding a VIP status on any crypto exchange platform?
In addition, I am aware of the faster customer support, access to premium promotions and rewarding events, lower trading fees and other benefits these VIPs enjoy, and that's what I want!
Any idea to make that possible?
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I feel you're not being specific enough, since your question could be answered by doing quick google search with search term "[exchange name] VIP". For example, https://www.binance.com/en/support/faq/how-to-become-a-binance-vip-473a8456403c438e902d7b3048e49eb6 (https://www.binance.com/en/support/faq/how-to-become-a-binance-vip-473a8456403c438e902d7b3048e49eb6) mention 4 way to obtain VIP status where 3 of them isn't about total trading.
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I feel you're not being specific enough, since your question could be answered by doing quick google search with search term "[exchange name] VIP". For example, https://www.binance.com/en/support/faq/how-to-become-a-binance-vip-473a8456403c438e902d7b3048e49eb6 (https://www.binance.com/en/support/faq/how-to-become-a-binance-vip-473a8456403c438e902d7b3048e49eb6) mention 4 way to obtain VIP status where 3 of them isn't about total trading.
The conditions are quite difficult as they involve hundreds of thousands of $, so perhaps the majority of Binance users will not be able to fulfill them. It is reasonable for Binance to offer special promotions to VIPs because they need to focus on taking care of this wealthy group of customers, as well as encourage other users to actively use Binance's services. The ultimate goal is to bring Binance many benefits in terms of users and revenue.
I always try to invest to increase the assets in my account, but I do not try to become a VIP on Binance. When I have hundreds of thousands of $ in balance, I will prioritize self-custody of my crypto assets instead of leaving them on Binance.
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If you're using a centralized exchange, have a huge sum of money with them, go through their thorough and verified kyc means, then participate in any of their promotional offers in other to make you gain their recognitions as well, being on a VIP does not make any difference to me because you stand to enjoy nothing much from what other regular members enjoys from using that same exchange.
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If you're using a centralized exchange, have a huge sum of money with them, go through their thorough and verified kyc means, then participate in any of their promotional offers in other to make you gain their recognitions as well, being on a VIP does not make any difference to me because you stand to enjoy nothing much from what other regular members enjoys from using that same exchange.
If you have excess funds, the OTC markets provide more options than what CEX and even VIP members offer. In general, VIP Memeber is a membership that has certain conditions that differ from one person to another, but it does not mean that you possess wealth or that it is reserved for the wealthy, although it is easy for the wealthy to achieve most of these conditions.
When making deals on OTC markets, you may buy Bitcoin at a cheaper price than the prices shown on CEX, but the minimum amount is $50,000 and sometimes more than that.
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If you're using a centralized exchange, have a huge sum of money with them, go through their thorough and verified kyc means, then participate in any of their promotional offers in other to make you gain their recognitions as well, being on a VIP does not make any difference to me because you stand to enjoy nothing much from what other regular members enjoys from using that same exchange.
Actually, there is a benefits of been.a VIP on centralized exchanges. If you used Binance for example and you hold some numbers of BNB, you will get VIP status on your account, the more VIP you have the more benefits but the least one a user can get from the exchange is reduction in trading fees. The more BNB you hold as a VIP customer, the reduction in trading fee cut off. Imagine paying 0.5% for every millions of dollars trade you do like 10 times a day, that's going to be a lot but this VIP helps you to cut down this fees that are demanded from the exchange and similar to Kucoin and other centralized exchanges that has their own utility tokens for their exchanges.
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If you're using a centralized exchange, have a huge sum of money with them, go through their thorough and verified kyc means, then participate in any of their promotional offers in other to make you gain their recognitions as well, being on a VIP does not make any difference to me because you stand to enjoy nothing much from what other regular members enjoys from using that same exchange.
If you have excess funds, the OTC markets provide more options than what CEX and even VIP members offer. In general, VIP Memeber is a membership that has certain conditions that differ from one person to another, but it does not mean that you possess wealth or that it is reserved for the wealthy, although it is easy for the wealthy to achieve most of these conditions.
When making deals on OTC markets, you may buy Bitcoin at a cheaper price than the prices shown on CEX, but the minimum amount is $50,000 and sometimes more than that.
I appreciate your enlightened points here over the discussion aspect on the more relevant platforms or means which we can use in achieving more than what just a VIP status can offer us from the use of an exchange, all these are what we needed to know because it does not ends only on achieving a status from an exchange whereas there are other platforms you may have better opportunities than where you're being offered a VIP seat and they are eating you up unknowingly.
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whereas there are other platforms you may have better opportunities than where you're being offered a VIP seat and they are eating you up unknowingly.
Mostly they are high-volume traders, and therefore their continuation depends on achieving profits. The platforms can try to steal a few thousand from them, but they will not do so because their provision of liquidity is more important than the amount of profits that you can collect from them.
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Actually, there is a benefits of been.a VIP on centralized exchanges. If you used Binance for example and you hold some numbers of BNB, you will get VIP status on your account, the more VIP you have the more benefits but the least one a user can get from the exchange is reduction in trading fees. The more BNB you hold as a VIP customer, the reduction in trading fee cut off. Imagine paying 0.5% for every millions of dollars trade you do like 10 times a day, that's going to be a lot but this VIP helps you to cut down this fees that are demanded from the exchange and similar to Kucoin and other centralized exchanges that has their own utility tokens for their exchanges.
Yeah, it is understandable that Binance and many CEXs are smart enough to roll out special offers for wealthy and important users. Lower trading fees, more attractive interest rates, better API... are features that only professional investors are really interested in and can take advantage of. Retail users do not have a large trading or borrowing need, so I do not think VIP is really important to them.
I think most VIPs are accounts of investment funds or whales in the market with assets worth millions of $ and have regular trading needs with large volumes through trading-bots to optimize profits. For me, I am happy to pay a 0.1% trading fee because I don't trade much during bullrun, and I also don't have the need to use leverage because the crypto market is already dangerous and stressful enough 8)
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For me, I am happy to pay a 0.1% trading fee because I don't trade much during bullrun,
I think small investors/retail traders who trade regularly will like the fee reduction too, even though their volume might be small compared to whales. A discount is a discount at the end of the day. The good news is most exchanges usually offer these kinds of benefits without locking them into a VIP account. Holding their exchange tokens, participating in their event, etc, usually rewards these kinds of small trading incentives. Obviously, you'll get more benefits if you are a whale, that's just common in the financial market afaik. CMIIW.
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whereas there are other platforms you may have better opportunities than where you're being offered a VIP seat and they are eating you up unknowingly.
Mostly they are high-volume traders, and therefore their continuation depends on achieving profits. The platforms can try to steal a few thousand from them, but they will not do so because their provision of liquidity is more important than the amount of profits that you can collect from them.
+1 karma for you huge black because your two comments made a vital charity to this discussion and most especially this comment I quoted, because many VIPs members are being eaten up with hard condition that make them to keep increasing they trading volume all the time and the profits mergin are not in correspondence with how much volume they put in and that is far from satisfactory for me, so I rather remain remain on a platform where I am offered moderate demand and with higher profits possibility than being tie down to an exchange that offer me vip but with low to nothing positive in terms of liquidation percentage and profits enabling tools.
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Being a VIP have to do with your entire volume and sometimes also available liquidity, this can be in combined assets, although some other exchanges require more intense activities and accounts existence on the platform, but definitely, your volume of total trades and available funds make up for almost 70% of what makes you become a VIP member on either exchange of gambling sites and other platforms or services where class separation or rank are considered to enjoy some specific advantages.
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Humans are not equal! At least life has taught us that and our society proves that to be true. Even among cryptocurrency enthusiasts', we have the OGs. I've also taken note of a similar phenomenon in the crypto trading space as leading crypto trading platforms offer several features and services to its users followed by highly coveted exclusive benefits and privileges to their users with VIP status.
I desire to take my trading experience to the next level, as well as gain access to the premium features and services. But I realize the VIP status of customers on exchanges is determined by their trading volume over a period. But I'm not sure if that's all there is. Does anyone else know a thing or two about holding a VIP status on any crypto exchange platform?
In addition, I am aware of the faster customer support, access to premium promotions and rewarding events, lower trading fees and other benefits these VIPs enjoy, and that's what I want!
Any idea to make that possible?
I think you can get some "VIP" status also by referring members to the exchange, using affiliate links.
This can be very profitable if you are able to refer a lot of people... like hundreds or thousands of users
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I desire to take my trading experience to the next level, as well as gain access to the premium features and services.
The only offer for VIPs related to trading is a reduced fee. In the end, your trading time and quantity will increase because you are spoiled by cheaper fees.
Any idea to make that possible?
At certain events, Binance may give away limited VIP1 upgrade vouchers. I don't know exactly how it works, I think the regular requirements don't apply here. I found some people telling stories on their channels, I saw their balance was no more than $100.
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I don't see any importance preferential treatments on those that have the status of a VIP on using the exchanges, the only advantage is the name tag that you have acquired the status and we can do so by making a huge deposit more often on our casino wallet, be active in using the platform and play as much as many games you can afford to, follow up with their offers and updates as well, all these will get you being noticed.
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I don't see any importance preferential treatments on those that have the status of a VIP on using the exchanges, the only advantage is the name tag that you have acquired the status and we can do so by making a huge deposit more often on our casino wallet, be active in using the platform and play as much as many games you can afford to, follow up with their offers and updates as well, all these will get you being noticed.
There are actually some perks or benefits for being a VIP traders/investor on many of the CEX exchanges. First, the VIP members on some of the CEX exchanges like Bybit, Binance has special quota during coin/token sales, that is, exchange Launchpad sales. The VIPs has bigger benefits on the exchange loan allocations, the number of tokens given to the VIPs is always on a higher preference on exchanges activities like Airdrops, trading fees, bonuses etc.
Now, to become a VIP member on exchanges is just with some task, and the must important aspect is the ability to trade huge volumes on the daily or monthly basis.
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Am sure that not everyone is seeking for the privilege of becoming a VIP on a gambling platform, this is because when they looked into the requirements for becoming one, they may see it as of no much benefits on them like when they are still not a VIP, money is what we have to consider well enough in attaining for this, some may not be that interested on it, while some may see it as something they should have in other to have a high priority.
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Am sure that not everyone is seeking for the privilege of becoming a VIP on a gambling platform, this is because when they looked into the requirements for becoming one, they may see it as of no much benefits on them like when they are still not a VIP, money is what we have to consider well enough in attaining for this, some may not be that interested on it, while some may see it as something they should have in other to have a high priority.
I've heard about user tiers based on assets on CEXs, but I've never really cared. The biggest reason is I'm not wealthy enough to meet the CEXs requirements, nor do I need their perks. More importantly, I don't keep much crypto on CEXs anyway!
VIP status might be appealing to whales or professional traders, where 0.1% can make a significant difference, potentially amounting to thousands of USD. Personally, I'm content with the current trading fees and the returns I'm getting from BTC without needing a VIP account.
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I've heard about user tiers based on assets on CEXs, but I've never really cared. The biggest reason is I'm not wealthy enough to meet the CEXs requirements, nor do I need their perks. More importantly, I don't keep much crypto on CEXs anyway!
i think some cexs also award those who have been with them for a long time but mostly it depends on how much you have deposited on their platform it seems odd for anyone to focus on the benefits of such things like sure it is helpful and benefitting but i do not think anyone should actually aim to reach their requirements just for the sake of having these perks my priority is still my money and the safety of it so i do not care much about perks that a cex can give me
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I think to become a VIP on some of the CEX exchanges is a matter of getting huge of trading/investment Volumes of crypto assets on the exchanges, and being an active user of the exchanges.
Now, one preference given to VIP member is through the IEOs token subscription allocations. The VIPs receive bigger quota when allocating the start up projects coins. Other area on the exchange the VIP get preferential benefits is through the exchange Loans options. The VIPs big volumes advantage on these Cex exchanges attract high loan rates compared to other users that are giving small loans.