Binance Unveils $500,000 Cryptocurrency Airdrop for Qualifying Users

One Million Binance’s Web3 wallet users stand a chance to win cryptocurrencies ranging from SHIB to BTC worth $500,000 until December 31, 2023.

One Million Binance’s Web3 wallet users stand a chance to win cryptocurrencies ranging from SHIB to BTC worth $500,000 until December 31, 2023.

Binance has announced a grand giveaway of cryptocurrencies worth $500,000 to eligible users. The rewards, which range from 1 SHIB to 1 BTC (valued at approximately $44,000), will be available until December 31, 2023.

The company plans to distribute these rewards to a million users. As per the official announcement, the rewards will be airdropped into the users’ wallets within two weeks of the activity’s conclusion.

To qualify for the airdrop, users are required to perform a swap using their Binance Web3 wallet. Binance has collaborated with several entities, including Maverick Pool, Gala Games, Acala Network, CyberConnect, Chiliz, and others, to facilitate the token distribution.

The Binance Web3 wallet, a self-custody solution integrated within the platform’s application, enables clients to swap thousands of cryptocurrencies across more than 30 networks, quickly transfer funds, explore various decentralized applications (dApps), earn yields on their holdings, and more.

The wallet was launched during Binance’s flagship Blockchain Week conference in Istanbul last month. Richard Teng, the newly appointed CEO of the trading venue, emphasized the security and protection offered by the Web3 wallet, stating, "We want our users to be assured that they are interacting with Web3 within a secure and protected ecosystem. That is why we have incorporated MPC technology as well as Binance’s trusted security infrastructure within the Web3 wallet.”

In addition to the airdrop, Binance has announced several other changes. On December 7, it removed four cryptocurrencies from its platform: BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC). These assets have seen a significant price decline following the announcement, with WTC plunging by over 75% in the past 14 days.

Furthermore, Binance has announced the launch of zero-fee trading for the following pairs: XRP/FDUSD, SOL/FDUSD, DOGE/FDUSD, BNB/FDUSD, ETH/FDUSD, and LINK/FDUSD. This offering commences on December 8 and will continue until further notice.