#RamadanGiveaway The Red Envelopes on Binance: What They Are and How They Work

The red envelopes on Binance are a special feature within the platform that allows users to send cryptocurrencies quickly and fun to friends, family, or communities. They are inspired by the Chinese tradition of hongbao (red envelopes), which are used to gift money on special occasions.

How Do They Work?

The red envelopes on Binance function as a tool for distributing cryptocurrencies within Binance Pay and Binance Gift Card. They can be used to send a specific amount of crypto to a group of people in two ways:

Random Mode: The total amount of the envelope is randomly divided among the recipients.

Fixed Mode: Each person receives a predefined amount of cryptocurrencies.

What Are They For?

Easily gift cryptocurrencies

Promote digital assets among new users

Conduct raffles and activities in crypto communities

Reward followers or members of groups

How to Create a Red Envelope?

Log into Binance Pay or the Gift Card section on Binance.

Select the option to create a red envelope.

Choose the cryptocurrency and the total amount to distribute.

Decide whether you want a random or fixed distribution.

Generate a link or QR code and share it with the recipients.

Conclusion

The red envelopes on Binance are an innovative and attractive way to share cryptocurrencies with others. Whether for celebrations, raffles, or simply as a gesture of generosity, this tool facilitates the distribution of crypto assets quickly and securely.