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.