Crypto.com has further called attention to its ongoing XRP trading rewards campaign, with up to $20,000 in XRP to be won by participants.
Singapore-based crypto exchange Crypto.com recently rolled out a two-part XRP trading event to celebrate Ripple’s landslide victory in the years-long SEC lawsuit. In essence, users can share in rewards by trading XRP on the Crypto.com exchange.
XRP App Campaign
The “XRP App Campaign” event is designed to end on July 28 and has an overall prize pool of $20,000 in XRP. Notably, the XRP App Campaign’s two categories are Net Buy Challenge (with a $10,000 prize pool) and Trading Competition (with a $10,000 prize pool).
? Trade XRP for the chance to win a share of US$20,000 in a 2-part campaign:
1️⃣ Buy US$5, win US$5
2️⃣ Top traders win up to US$1,000
Learn More ? https://t.co/nhAPHZmbuO pic.twitter.com/zd2IaKBhZZ— Crypto.com (@cryptocom) July 21, 2023
For the Net Buy Challenge, users must perform at least $5 worth of XRP net buys on the Singapore-based exchange to stand the chance of winning a share of the $10k prize pool. “2,000 users who perform at least $5 worth of XRP Net Buys will be randomly selected to win $5 of XRP each,” the team noted.
For context, a user’s Net Buy volume equals the US dollar value of XRP tokens bought, sold, and deposited by the user minus the total US dollar value of XRP withdrawn by the users during the campaign period.
XRP Trading Competition
On the other hand, the trading competition requires that Crypto.com App users trade (buy or sell) at least $5 worth of XRP during the campaign period to share in the $10,000 prize pool. Part of the disclosure revealed that the top 500 users ranked by XRP trading volume could win up to $1,000 of XRP based on the rewards plan.
Trading volume here refers to the total dollar value of XRP purchased and sold by a participant during the 14-day campaign. Notably, the minimum XRP trading volume to be considered for sharing in the $10,000 prize pool is $5.
At press time, the XRP App Campaign will conclude in a week. Upon completion of the event, winners will receive their rewards in XRP tokens within 30 days after the campaign ends.
It bears mentioning that Crypto.com was among the exchanges to react to the SEC’s lawsuits by delisting XRP. The platform suspended XRP trading specifically for its US customers on January 19, 2021, in the heat of the Ripple-SEC case.
As reported by The Crypto Basic, Ripple’s victory over the SEC last week forced the popular exchange to relist XRP for US customers on July 14. The trading competition kicked off a day later as a way to leverage the growing interest in XRP.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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