In the quest for a fairer distribution of Binance Wallet rewards, Binance has tried several mechanisms to arrive at the Binance Alpha point system today. Whether to receive new cryptos for free or to participate in the famous TGE (Token Generation Event - fundraising presale), you necessarily need Binance Alpha points. We will see how to explode your Binance Alpha points to grab all the rewards we are talking about.
What are Binance Alpha points and why are they important?
Binance Alpha Points is a scoring system introduced by Binance to make Binance Wallet rewards more equitable. Binance Alpha Points evaluates user activity on Binance Alpha and Binance Wallet to assign scores that are updated daily.
How are these points/scores awarded/earned?
First, let’s note that we have two types of points that add up to give the Binance Alpha Points: the points on the account balance and the points on the purchase volume.
Points on the account balance - you earn a certain number of points per day based on the total balance of your Binance account (exchange side + web3 wallet side), as follows:
For a total balance of at least:
$100 and <$1,000 = 1 point/day
$1,000 and <$10,000 = 2 points/day
$10,000 and <$100,000 = 3 points/day
$100,000 and above = 4 points/day
NB: Only tokens listed on Binance spot and Binance Alpha are taken into account.
Points on trading volume - the system awards you a certain number of points based on the purchase volume you generate on the cryptos listed on Binance Alpha (via the exchange account or the web3 wallet), as follows:
$2 → 1 point
$4 → 2 points
$8 → 3 points
$16 → 4 points
$32 → 5 points
Each time the volume doubles, there is 1 additional point added to the previous score, i.e., 64=6 points, 128$= 7 points, and so on.
So the higher the daily volume, the more points you will earn that day. A regular minimum daily volume can lead to an interesting score, for example, $16 in purchase volume over 15 days = 60 points.
Your Binance Alpha Point = total of your daily points over the last 15 days.
Importance of Binance Alpha points
Binance Alpha points are the necessary condition to receive Binance Alpha airdrops and to participate in TGEs. Binance alpha airdrops are shares of a future Binance alpha token that are distributed for free to users who have the minimum required points, these airdrops can go up to hundreds of dollars per user. It is important to note that Binance Alpha distributed up to $3000 per user in airdrops just in May, from May 1 to May 26, and it continues.
TGEs are ICO events, they are presales of cryptocurrencies on Binance and being eligible for a TGE means profit. Just this month, participants made an average return on investment of over 8x on the amount spent.
Since we cannot know in advance what the minimum points will be required for a given Airdrop, it is important to collect as many points as possible.
Tips to maximize your Binance Alpha points - Earn more Binance Alpha points
Binance Alpha Points Promotion + Regular Purchases
On May 1st, Binance launched a promotion on Binance Alpha points (link), a campaign that allows you to earn points corresponding to double your actual volume. The promotion takes into account purchases of Binance Alpha tokens on the BSC network and purchases via limit orders on tokens from other Binance Alpha networks. Example: Currently, if I buy a BSC crypto from Binance Alpha for $32 during the day (daily purchase volume = $32 on BSC), the system will consider that I made a purchase of $64 and instead of 5 points, I will receive 6 points. The end of the promotion has not yet been announced, so accompanied by a regular minimum purchase, this could lead to interesting scores.
Example:
-Hold at least $100 on Binance and make a purchase of $32 per day, over 15 days we have: 1x15 + 6x15 = 105 points
-Hold at least $1000 on Binance and make a purchase volume of $1024 per day => 2x15 + 11x15 = 195 points
-Hold at least $1000 on Binance and make a purchase volume of $2048 per day => 2x15 + 11x15 = 210 points
NB: Only purchase transactions count, users are free to sell immediately after purchase or not, selling does not affect Binance Alpha points.
With at least 150 Binance Alpha points, you have a chance to qualify for the second eligibility option for airdrops and TGEs, based on a minimum number of points and the last digit of the BUID.
But by maintaining a minimum of 200 to 230 Binance Alpha points, you will be eligible for the majority of Binance Alpha Airdrops and TGEs.
Some strategies to generate more volume
Purchase volume is the main factor that makes a difference in Binance Alpha points, so making many purchase transactions is what you need.
If you are an active trader, you just need to focus your trades on Binance Alpha cryptos to generate more volume.
But if you are not an active trader to normally achieve that much volume, you can make trades just for volume, that is to say, make successive buy-sell trades just to generate volume. Here, the two main factors to optimize are the volatility of the crypto to trade and the gas fees of the exchange network, with gas fees dropping by x10 on BSC, it’s a potentiality we can exploit. Here’s how to generate volume without losing money:
1️⃣ Trade tokens from the BSC network on Alpha that have the highest market capitalization and low price volatility.
You can filter market capitalization and select the network as follows:
2️⃣ Trade with 2 or 3 BNB each time (or as much as you can)
3️⃣ Set the slippage to a minimal 0.01% (instead of the 1.1% default). This will give you a more competitive spread, and transactions will always go through quickly.
4️⃣ Choose the right provider (PancakeSwap or 1INCH). PancakeSwap might be less favorable, so always check which one offers you the best token return.
5️⃣ After buying your tokens, sell them directly for BNB by doing exactly the same steps, but in reverse.
6️⃣ Additional tip: right now, the Alpha volume generated on the BNB chain has a 2x multiplier. The same applies to limit orders.
7️⃣ The more you trade, the more points you earn. Repeat the process as many times as possible each day to achieve the maximum points.
❌ If you do not use this method, generating volume with default settings will cost you about $8 to $10 (mainly due to the high spread).
🔥 If you set all this up correctly, you can generate volume while paying minimum fees. For 2 BNB, you will pay less than $1 in BNB fees.
This strategy has been optimized for the BNB CHAIN, I have tried it myself and approved it. It might also work on another blockchain, but this article only takes into account my experiences on the BNB Chain network.
Example: I tried a buy-sell with 0.4 BNB using the method and in total (volatility + fees for the combined purchase and sale) I only lost the equivalent of about $0.3 and I was able to generate a volume of over $256. With a larger size, it’s a boost to generate more volume.
🚨 But be careful: each airdrop and TGE now costs 15 points. Choose your projects wisely 🚀
Thank you for your attention and feel free to ask any questions in the comments.