The Binance exchange announced a Christmas promotion: it will give a Tesla Cybertruck to TROY token users. The company made it clear that you have to negotiate many TROY to win.

In a blog post, the crypto exchange Binance announced that it will give away a futuristic Tesla Cybertruck truck among its users of the TROY cryptocurrency.

It should be noted that the Tesla Cybertruck is a 4-door, 6-position electric vehicle from the American manufacturer Tesla Motors. It was introduced to the market in November 2019.

The exchange made the following announcement on its blog:

“To celebrate the next Christmas season and for TROY to appear on Binance.com, Binance and TROY have pledged to give away a latest Tesla Cybertruck Double Motor AWD (worth USD $50,000) and a total of USD $50,000 in TROY tokens “

The promotion started on 12/23/2019 0:00 am. and will end on 12/30/2019 0:00 am. (UTC).

The promotion seeks customers to enter Binance and also make transactions with the TROY crypto. Therefore, it indicates that they will have a 10% discount on the negotiation rate for new registered users and may have the opportunity to participate in the “raffle” of the Tesla and an amount of USD $50,000 in TROY.

The publication states:

“All users will be classified in terms of the total trading volume of TROY traded in their Binance account (including purchases and sales) in all TROY trading pairs during the competition period.”

Binance Awards

  • 1st place: you will receive the latest model of the Tesla Cybertruck Double Motor AWD (worth $50,000).
  • Second place will receive USD $10,000 in TROY tokens
  • 3rd place will receive USD $5,000 in TROY tokens
  • 4 to 10th place: a group of USD $20,000 in TROY tokens will be divided equally
  • 11 to 20th place: a group of USD $15,000 in TROY tokens will be divided among all

Binance further reports that “the trading volume of the secondary account and the margin account will be combined with the standard trading volume of the master accounts in the final calculation. Each subaccount will not be seen as a separate account when participating in this activity. ”

Doubts about the Binance and Tesla contest

The Bitcoinist media raised doubts about the Binance contest because a TROY charge and exchange costs will be required to receive the prize. That is, users will be classified according to the total volume of TROY traded in their Binance account during the competition period. This will include both purchase and sale orders in all TROY trading pairs, which consist of BNB, BTC and USDT.

This is what could be a hoax for small and medium investors, with almost no chance of being eligible for the prize before large investors.

About TROY

TROY is a slightly unknown cryptocurrency, since it has been included in the CoinMarketCap list for a few weeks, where it barely ranks 281 according to its capitalization market of USD $9.9 million. Its launch in Binance was announced at the end of November.

Binance has been very busy this year. Among the most recent news, this month, is that he joined Paxful, which will allow users in Latin America and other regions to conduct their commercial operations with fiat money.

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