(Version 3.0 applicable as of 23 August 2023)
Any LP Benefits under this Bitpanda Loyalty Program may be subject to income tax or other taxes or fees for LP Participants. Each LP Participant is solely responsible for payment of all such taxes and for disclosure to third parties. Bitpanda will never be liable for any tax liabilities, levies or other charges in connection with LP Benefits to LP Participants.
Until further notice and subject to point 5 (Termination) of the Loyalty TC, LP Participants may benefit from the LP Benefits set out in this Enclosure 1. Any LP Benefits and the eligibility criteria to receive LP Benefits may be delayed, changed or amended by Bitpanda GmbH anytime.
1.1 A LP Participant may benefit from LP Benefits under the Bitpanda Loyalty Program depending on such LP Participant reaching a certain "BEST VIP Level" or “Bitpanda Club Status” as outlined in point 1.2.
1.2 Reaching a BEST VIP Level depends on the number of BEST held in your Bitpanda Broker Wallet by a LP Participant from time to time. Reaching a Bitpanda Club Status depends on the trading volume of the last 6 months of the LP Participant. The following levels are distinguished:
|BEST VIP Level / Club||Required holdings of BEST or minimum trading volume|
|Level 1||min. 10 BEST|
|Level 2||min. 1,000 BEST|
|Level 3||min. 5,000 BEST|
|Level 4||min. 10,000 BEST|
|Level 5||min. 50,000 BEST|
|Club Silver||Actively traded in the last 6 months with at least 5 completed trades and a trade amount between EUR 50,000 and EUR 100,000 in one of the last 6 months|
|Club Gold||Actively traded in the last 6 months with at least 5 completed trades and a trade amount > EUR 100,000 in one of the last 6 months|
2.1 BEST VIP Level 1
LP Participants holding at least 10 BEST will reach BEST VIP Level 1. LP Participants with BEST VIP Level 1 are eligible for the following LP Benefits:
2.1.1 actively claim Weekly Base Rewards as outlined in point 5.5;
2.1.2 actively claim additional Trading Rewards as outlined in point 5.7;
2.1.3 receive Instant Trade Bonus as outlined in point 5.8; and
2.1.4 receive exclusive access to perks and benefits from Company Partners as outlined in point 3.
2.2 BEST VIP Level 2
LP Participants holding at least 1,000 BEST will reach BEST VIP Level 2. LP Participants with BEST VIP Level 2 are eligible for the following LP Benefits:
2.2.1 all the LP Benefits the LP Participants with BEST VIP Level 1 - but the amount of rewards/benefits depends on their BEST VIP Level 2;
2.2.2 additional collection of Weekly Bonus Rewards as outlined in point 5.6;
2.2.3 participation in VIP Asset Voting as outlined in point 4.
2.3 BEST VIP Level 3
LP Participants holding at least 5,000 BEST will reach BEST VIP Level 3. LP Participants with BEST VIP Level 3 are eligible for the following LP Benefits:
2.3.1 all the LP Benefits LP Participants with BEST VIP Level 2 - but the amount of rewards/benefits depends on their BEST VIP Level 3;
2.3.2 enjoy several Bitpanda Card Benefits;
2.3.3 benefits from the BEST VIP Affiliate Bonus as outlined in point 8.
2.4 BEST VIP Level 4
LP Participants holding at least 10,000 BEST will reach BEST VIP Level 4. LP Participants with BEST VIP Level 4 are eligible for the following LP Benefits:
2.4.1 all the LP Benefits the LP Participants with BEST VIP Level 3 - but the amount of rewards/benefits depends on their BEST VIP Level 4;
2.4.2 benefits from lower deposit fees for credit card and SOFORT payments;
2.4.3 exclusive Bitpanda Club Program benefits as outlined in point 7.
2.5 BEST VIP Level 5
LP Participants holding at least 50,000 BEST will reach BEST VIP Level 5. LP Participants with BEST VIP Level 5 are eligible for the following LP Benefits:
2.5.1 all the LP Benefits the LP Participants with BEST VIP Level 4 - but the amount of rewards/benefits depends on their BEST VIP Level 5;
2.5.2 exclusive Bitpanda Club Program benefits as outlined in point 7.
2.6 Club Silver
LP Participants who have actively traded in the last 6 months, completed at least 5 trades, hold a Wallet balance of at least EUR 400 worth of digital asset and/or F-Token/E-Money and reached a trading volume of over EUR 50,000 in one of the last 6 months, achieve Bitpanda Club Silver Status and can participate in VIP Asset Voting, as outlined in point 4 as well as benefit from Bitpanda Club Program benefits pursuant to point 7.
2.7 Club Gold
LP Participants who have actively traded in the last 6 months, completed at least 5 trades, hold a Wallet balance of at least EUR 400 worth of digital asset and/or F-Token/E-Money and reached a trading volume of more than EUR 100,000 in one of the last 6 months, achieve Bitpanda Club Gold Status and can participate in VIP Asset Voting, as outlined in point 4 as well as benefit from Bitpanda Club Program benefits pursuant to point 7.
3.1 LP Participants with a BEST VIP Level get exclusive access to perks and benefits from certain companies and organisations, which cooperate with Bitpanda in order to offer Bitpanda Clients LP Benefits, ("Company Partners").
Depending on your BEST VIP Level, LP Benefits from Company Partners may become more significant and more exclusive.
3.2 Bitpanda makes no representations, with respect to type, quality or fitness of goods or services provided through the Bitpanda Loyalty Program by Company Partners. Bitpanda shall in particular not be liable for any benefits or perks from Company Partners to which the Participant gains access through this Bitpanda Loyalty Program .
4.1 LP Participants from BEST VIP Level 2 and higher and Bitpanda Club Silver or Gold have a vote in deciding which Token (A-Token, E-Token or M-Token) should be offered and traded in the future on Bitpanda Systems (“VIP Asset Voting”). For the avoidance of doubt, the LP Participant has neither voting rights in Bitpanda GmbH or any of its Affiliates or its governance, strategy and similar votes nor to any profit distributions or company decisions of any kind.
4.2 For this purpose, Bitpanda will conduct VIP Asset Voting on a regular basis. As soon as a new VIP Asset Voting goes live, Bitpanda will inform about it on social media and/or a blog post.
4.3 LP Participants (with BEST VIP Level 2 or higher and Bitpanda Club Silver or Gold) who are eligible to vote will be informed about all further voting processes the first time they log in to their Bitpanda Client Account via pop-up.
4.4 For purposes of voting, each LP Participant with BEST VIP Level 2 or higher and Bitpanda Club Silver or Gold may vote one time (for single choice voting) or multiple times (for multiple choice voting). Any amount of BEST held by an eligible LP Participant above the required BEST VIP Level 2 threshold shall not be relevant for voting purposes and therefore does not confer more voting power. LP Participants who have reached BEST VIP level 2 or higher and also reached Bitpanda Club Silver or Gold have no additional voting right.
4.5 The voting results are published anonymously by Bitpanda as a blog post https://blog.bitpanda.com/en and/or on other Bitpanda mediums such as Bitpanda’s social media channels or Bitpanda’s website.
4.6 Following the results of the votes cast for a potential listing of a Token in the course of a VIP Asset Voting, Bitpanda will make reasonable efforts, but does neither guarantee nor promise, to offer (or not offer) such digital asset via Bitpanda Systems in the future.
5.1 Eligible LP Participants. LP Participants may be entitled to collect BEST through the BEST rewards system as set out in this point 5. To be eligible to do so, a LP Participant must (i) have a VIP Level status as outlined in point 1.2, (ii) hold such number of BEST required for the VIP Level in their Bitpanda Broker Wallet, (iii) buy or sell at least one digital asset once a week on Bitpanda Systems (the Conversion of Cash Plus A-Token is excluded and does not constitute a purchase or sale of a digital asset), (iv) actively accept these Terms and (v) actively claim these BEST Rewards.
5.2 Reward System. The following rewards are offered within the Bitpanda Loyalty Program: Weekly Base Rewards according to point 5.5, Weekly Bonus Rewards according to point 5.6, Trading Rewards according to point 5.7 (collectively referred to as "BEST Weekly Rewards") and Instant Trade Bonus according to point 5.8 (together with the BEST Weekly Rewards referred to as "BEST Rewards").
5.3 Snapshot. At the end of every week (Monday-Sunday), (i) a Bitpanda Client’s respective BEST, held in the Wallet assigned to the Bitpanda Broker ("BEST Holdings"), (ii) BEST VIP Level and (iii) weekly trading volumes are determined via a snapshot ("Snapshot"). The Snapshot will always take place every Sunday at 23:59:59 CET (Central European Time). Bitpanda GmbH intends to credit BEST Weekly Rewards to the respective Wallet designated for BEST ("BEST Wallet") on the following Monday for the previous week. That crediting may be delayed due to unforeseeable technical disruptions. The necessary steps for the BEST crediting will be taken as soon as possible.
5.4 Active Claiming. Active claiming of BEST Rewards must be done as displayed on Bitpanda Systems by actively tapping the "Claim BEST Rewards" button ("Active Claiming"). A retroactive claim of BEST Rewards is excluded in any case.
5.5 Weekly Base Rewards. LP Participants who meet the requirements of point 5.1 are eligible to collect weekly rewards in the amount of 0.1% of their BEST Holdings at the time of the Snapshot ("Weekly Base Rewards").
5.6 Weekly Bonus Rewards. LP Participants from BEST VIP Level 2 upwards can further claim BEST according to their BEST VIP Level on a weekly basis in addition to the Weekly Base Rewards ("Weekly Bonus Rewards"). The following table sets out the percentage rate of the Weekly Bonus Rewards:
|BEST VIP Level||Additional % of BEST|
|Level 2||+0.025% per week|
|Level 3||+0.05% per week|
|Level 4||+0.075% per week|
|Level 5||+0.1% per week|
5.7 Trading Rewards. In addition to the above, all LP Participants that fulfil all criteria as set forth in point 5.1 are eligible to receive further weekly BEST rewards if certain thresholds in trading volume are reached ("Trading Rewards") (as set out below in point 5.7.1 and 5.7.2). The Trading Rewards therefore depend on (i) the LP Participant’s trading volume and (ii) the type of digital asset class traded via Bitpanda Broker the previous week. The previous week is the week that ended with the respective Snapshot for each week. The Trading Rewards percentages refer to the BEST Holdings of the respective LP Participant at the moment of the Snapshot.
5.7.1 Trading volume E-Token and M-Token. The trading volumes of E-Token and M-Token on Bitpanda Broker are added. The trading volume is calculated from the equivalent value of the E-Token or M-Token at the time of the respective trade. If the trading volumes exceed one of the following thresholds, the following Trading Rewards will be paid-out:
(i) (≥) EUR 1,000: +0.01% per week;
(ii) (≥) EUR 3,000: +0.025% per week;
(iii) (≥) EUR 10,000: +0.05% per week; or
(iv) (≥) EUR 30,000: +0.075% per week;
5.7.2 Trading volume A-Token excluding Cash Plus A-Token. The trading volumes of all A-Token except Cash Plus A-Token on Bitpanda Broker are added. The trading volume is calculated from the equivalent value of the A-Token excluding Cash Plus A-Token at the time of the respective trade. For the avoidance of doubt, Cash Plus A-Token means A-Token with those MMFs as underlying for which Bitpanda GmbH offers Cash Plus, held by Cash Plus Client. If the trading volumes exceed one of the following thresholds, the following Trading Rewards will be paid-out:
(i) (≥ ) EUR 3,000: +0.01% per week;
(ii) (≥ ) EUR 10,000: +0.025% per week;
(iii) (≥ ) EUR 30,000: +0.05% per week; or
(iv) (≥ ) EUR 100,000: +0.075% per week;
5.7.3 No trading volume of L-Tokens. For the avoidance of doubt, a purchase or sale of L-Tokens is not included in the calculation of the Trading Volume thresholds for Trading Rewards.
5.8 Instant Trade Bonus. Via the Instant Trade Bonus, LP Participants may be entitled to collect further BEST rewards between 0.005% and 0.25% (depending on the Token the LP Participant has traded) of the volume traded on Bitpanda Broker - added instantly after every transaction to the BEST Wallet (“Instant Trade Bonus”). The amount of BEST rewards collected via the Instant Trade Bonus is adjusted according to the LP Participants BEST VIP Level. The higher the BEST VIP Level, the higher the Instant Trade Bonus the LP Participant may be entitled to collect. The following table sets out the percentage rate of the additional collection of BEST rewards via the Instant Trade Bonus:
|BEST VIP Level & Instant Trade Bonus Asset Class||1||2||3||4||5|
|E-Token||0.05%||0.1 %||0.15%||0.2 %||0.25%|
|M-Token||0.05%||0.1 %||0.15%||0.2 %||0.25%|
|A-Token excluding Cash Plus A-Token||0.005%||0.01 %||0.015%||0.02 %||0.025%|
BEST Rewards are only designated to function as a loyalty program for Bitpanda Clients being active on Bitpanda Broker.
5.10 For the avoidance of doubt, it is hereby clarified that BEST Rewards are performed only on Bitpanda Broker and in course of the Bitpanda Loyalty Program and is neither linked nor incorporated in BEST itself.
5.11 Bitpanda may amend or terminate the Bitpanda Loyalty Program in accordance with points 3 and 11 and 12 of the Group TC, respectively.
5.12 Bitpanda can withhold, pause or cancel payout of rewards, also if accrued and already claimed by you, anytime and you do not have any legal claim against Bitpanda in such a case.
5.13 No Instant Trade Bonus for L-Token Clients. For the avoidance of doubt, L-Token Clients are not eligible for Instant Trade Bonus for the volume generated via L-Token trades.
6.1 Depending on the BEST VIP Level, LP Participants who are also Bitpanda Card users, enjoy several additional benefits (e.g. free ATM withdrawals, a reduced exchange fee ("FX"), and Cashback in Token). For further information on the Bitpanda Card please see section 8 of the Bitpanda GmbH & BAM TC (https://www.bitpanda.com/en/legal/bitpanda-general-terms-conditions) and the Contis Bitpanda Card Account Terms and Conditions (https://www.bitpanda.com/en/legal/bitpanda-card-account-terms-conditions).
6.2 The detailed BEST VIP Level Bitpanda Card Benefits can be found under https://www.bitpanda.com/en/card.
6.3 LP Participants who receive Cashback, are not eligible to receive the Instant Trade Bonus for the same transaction.
7.1 As a BEST VIP Level 4 or higher or Bitpanda Club Silver or Gold LP Participant, you are automatically eligible for the "Bitpanda Club Program" (for further information to Bitpanda Club Program click here https://www.bitpanda.com/en/bitpanda-club. As a LP Participant eligible for the Bitpanda Club Program, you will receive exclusive support (Bitpanda Concierge) , increased limits for deposits and withdrawals, have a direct impact on upcoming features and asset listings among other benefits. As Bitpanda Club Gold LP Participant you also receive personalised updates about new products (Bitpanda Customer Success Manager).
Bitpanda offers an affiliate program ("VIP Affiliate Program") (for further information on the Bitpanda affiliate program click here https://www.bitpanda.com/en/affiliate-program).
8.2 LP Participants will receive higher commissions if they successfully recruit Bitpanda Clients while maintaining the required BEST VIP Level (BEST VIP Level 1 and higher as outlined in section 1.2).
8.3 The following percentages of revenue share are available for LP Participants with VIP Levels:
|BEST VIP Level||% of Revenue Share|
|Level 3||+12% per week|
|Level 4||+14% per week|
|Level 5||+18% per week|
9.1 Bitpanda GmbH takes measures for BEST’s deflation to stabilise BEST’s intrinsic value: Bitpanda GmbH burns BEST in the amount of 25% of the collected trading premiums by BEST holders with a BEST VIP Level. This burning process is intended to be repeated monthly until a maximum of 75% of the total BEST (out of 1 billion BEST originally issued) has been burned (“BEST Stimulus and Burn Program").
9.2 Any deflationary measures do not represent a claim on or against (Forderung gegenüber) Bitpanda GmbH or any of its Affiliates. Bitpanda GmbH may terminate, withhold or pause the BEST Stimulus and Burn Program anytime for objectively justified reasons and you do not have any legal claim against Bitpanda in such a case.