Improvements of Binance Ship on Red Ocean
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In last part, we categorized targeted audience into 3 types: [Jobless – Workers – Rich People] & we conclude that referral program is extremely tended in favor of rich people only.
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#3 - Useless of Rebate Voucher except 4 Rich people
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When you sign-up successfully with verification, Binance gives a welcome rewards which worth 20 $ as they promised during sign-up process.
For beginners with no experience in trade, he/she thinks it’s money that can be used immediately in spot or margin trade. He may be shocked it was only a discount from fee trade.
He/she was very disappointed.
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The worst part is that type of welcome voucher is limited by time after you decide to use it (I think less than 10 days).
Now, as we know the percentage of standard Binance charge (fees) in spot trade is approximately 0.1%.
By simple calculation based in value of rebate voucher, you may conclude that you should deposit 20,000 $ to be that voucher useful for user.
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Do you think jobless/workers type will invest 20 K-$ in new business that don’t know anything about it & wants to learn to add new income for their lovely family ?!!
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Make it simple, by offering a token voucher by 10% of a amount he/she deposit.
He deposit 10$ , then offer him/her 1$ with limited time, so you encourage them to interact with trade business quickly before missing this unique opportunity.
To protect the company’s budget, tell the user that token voucher if it’s used, it will be added to your balance in 2 conditions:
1) Used only in Spot trade (no margin or future trade).
2) You succeed to obtain PnL >+10%.
If the user loss money equal to 10% of his initial investment, it will be deducted from his own balance & the token voucher will be gone forever.
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- No harm feeling
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The purpose of this approach, is to make sure that user has learning how to trade well in cryptocurrency market, so both (user & Binance) may benefit from each other .
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… To be continue
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#BTCtrade #BTCBackto100K #TradeStories
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