In the Binance ecosystem, Alpha points are gradually becoming the focus of players. If you have just entered the crypto world and find this new concept puzzling, don't worry, this article will give you a comprehensive understanding of Binance Alpha points, allowing you to quickly catch up with the new trends in the crypto space.
1. What are Alpha Points?
In simple terms, Binance Alpha points are a scoring system, similar to a comprehensive exam score in school, used to assess your activity in the Binance Alpha and Binance Wallet ecosystem. This activity directly determines whether you can participate in important events, such as popular Token Generation Events (TGE) and enticing Alpha token airdrops. Imagine, if you actively participate in various activities in school, you will receive more rewards, and the same goes for the Binance world.
2. How to participate in acquiring Alpha points
(1) Check the points entry
First, you need to know where to check your points. Open the Binance app, click on 'More' on the homepage, then find 'News' inside, and you will see 'Alpha points'. Click in to view your total points for the past 15 days. You can also directly enter 'Alpha points' in the search bar at the top of the homepage to quickly find the entry.
Methods to acquire points
Balance points rules (how much money you have in your wallet):
When your assets are between $100 and $999, you earn 1 point per day. For example, if you have $500 in qualifying assets in your wallet, you will earn 1 point per day.
If your assets reach $1,000 to $9,999, you earn 2 points per day. If you hold $3,000 in relevant assets, you will earn 2 points in one day.
If your assets are between $10,000 and $99,999, you earn 3 points per day. If you have $50,000 in assets, you will earn 3 points daily.
If your assets reach $100,000 or more, you earn 4 points per day. If your assets are substantial, say $150,000, you can easily earn 4 points daily.
The balance point calculation here involves the total assets you hold in the Binance centralized exchange and Binance wallet. However, note that assets on the centralized exchange are limited to tokens that have been listed on Binance's spot market across all accounts and assets in the Alpha account; assets in the Binance wallet are limited to Alpha tokens and tokens that have been traded on Binance's spot market. Tokens that are not displayed in the Alpha area and cannot be traded on Binance's spot market, such as LSD tokens, are not counted.
Based on the total value of tokens you hold (converted to USD), you can earn corresponding points every day:
2. Trading Volume Points Rules (earn by buying and selling specific tokens):
Buy $2 worth of Alpha tokens to earn 1 point. If you spend $2 to buy Alpha tokens, you will earn 1 point from trading volume that day.
If the trading amount doubles, the points also increase by 1. That is, if you buy $4 worth of Alpha tokens, you get 2 points; buy $8, you get 3 points; buy $16, you get 4 points; buy $32, you get 5 points. At this point, the cost-effectiveness is relatively high.
If the trading amount continues to double, for example, buying $64 earns 6 points, $128 earns 7 points, although points are still increasing, the marginal return starts to decline, meaning you have to spend more money to gain fewer additional points.
Trading volume points mainly depend on your daily purchase amount of Alpha tokens (also in USD). Moreover, only buying can increase points, selling does not count, so you cannot rely on selling coins to increase points. The specific rules are as follows:
Operational tips
There is actually a little trick to increase your trading volume points. If you have $32, buy Alpha tokens and then sell them, then repurchase, you can meet the $64 trading volume, thus earning 6 points instead of the 5 points corresponding to the original $32 trading volume.
However, be aware that each trade incurs gas fees, which are like the transaction fees you have to pay every time you buy or sell something. If you trade frequently, the accumulated gas fees can be a significant expense, likely offsetting the gains you earn from accumulating points.
Therefore, to avoid gas fee losses, it is recommended to conduct transactions on the Sol or Base chains. These two chains have relatively low transaction fees, which can help reduce your costs to some extent. For instance, trading on the Sol chain may incur gas fees of only a few cents, which is much cheaper than some other chains. Thus, even if you frequently buy and sell to accumulate trading volume points, the costs won't be too high.
3. What are the uses of Alpha Points?
(1) Participate in popular project TGEs
Taking the twelfth exclusive TGE project OKZOO launched on April 25 as an example, it required users to have at least 45 Binance Alpha points to qualify for subscription. If your points are insufficient, you can only watch others participate in this project while you are excluded. Many TGE projects have great potential in the early stages, and if you can successfully participate, you might achieve considerable gains, just like buying into a growth stock.
(2) Receive generous airdrop rewards
Users who meet the Alpha points threshold have the opportunity to receive airdrops after some tokens are launched. For example, in the SIGN project, users who meet the points requirement can receive airdrops within 10 minutes after the token launch. Sometimes, the value of the airdropped tokens can be significant, allowing you to gain assets without additional costs, which is also an important reason many people are keen on accumulating Alpha points.
