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7 Best Bitcoin Halving Promotions to Check Out in 2024

15 mins
Fact Checked
by Maria Petrova
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As the highly anticipated Bitcoin halving approaches, a number of leading platforms are offering Bitcoin halving promotions. These offers are designed to attract both seasoned traders as well as newcomers to the digital currency sphere.

These promotions offer a unique blend of rewards, challenges, and giveaways, allowing participants the chance to reap significant benefits. Here’s our round-up of the top offers in 2024.

Methodology

Best Bitcoin halving promotions in 2024

1. YouHodler

Prize pool of over $30,000
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Prize pool
$30,000
Grand prize
$10,000
Type of promo
Raffle
Promo ends on
April 30th, 2024

2. Uphold

Earn 3% BTC rewards
www.uphold.io%22 loading="lazy" data-src="images/images2.png">
Prize pool
N/A
Grand prize
Up to $1000 in BTC rewards per month
Type of promo
Cashback
Promo ends on
April 30th, 2024

3. Bitpanda

Win half a Bitcoin
Prize pool
1 BTC
Grand prize
0.5 BTC
Type of promo
Raffle
Promo ends on
April 30th, 2024

4. Binance

0.00005 to 0.0001 BTC for each new user
www.binance.com%22 loading="lazy" data-src="images/binance-logo.jpeg.optimal.jpg">
Prize pool
$50,000 in BTC
Grand prize
0.0001 BTC
Type of promo
Guaranteed
Promo ends on
April 14th, 2024

5. Bitget

Grab a share of 500,000 USDT
Prize pool
500,000 USDT
Grand prize
Up to 0.003 BTC per user
Type of promo
Different promos
Promo ends on
April 25th, 2024

6. Nexo

A total prize pool of 10 BTC
www.nexo.io%22 loading="lazy" data-src="images/nexo-logo.png">
Prize pool
10 BTC
Grand prize
Up to 0.0125 BTC
Type of promo
Different promos
Promo ends on
April 14th, 2024

7. StormGain

Up to 100 USDT cash airdrop bonus
www.stormgain.io%22 loading="lazy" data-src="images/stormgain-logo.png">
Prize pool
0.1 BTC
Grand prize
0.01 BTC
Type of promo
Guaranteed / Raffle
Promo ends on
Bitcoin halving date 2024

Impact of Bitcoin halving

Bitcoin halving is an event that happens approximately every four years. It’s like a scheduled pay cut for Bitcoin miners. Miners use powerful computers to solve complex math problems and keep the Bitcoin network running smoothly and securely. In return for their work, they earn Bitcoin.

When a Bitcoin halving occurs, the amount of Bitcoin that miners receive for their work is cut in half. This means if they earned 10 Bitcoins for solving a problem before the halving, they would earn only five BTC for the same work after the halving.

The impact of this event is significant for a number of reasons. Let’s take a quick look at its implications:

1. Supply and demand

Since new Bitcoins are produced at a slower rate after each halving, fewer new coins are entering the market. If demand for Bitcoin remains the same or increases, the reduced supply can lead to a price increase. It’s like if there’s only a limited number of tickets for a concert, the price of those tickets might go up.

Investors often use technical analysis to predict future price movements by examining historical price charts and market data. Learning about crucial indicators such as the RSI indicator or the cup and handle pattern is key, especially for crypto traders. This is especially true in scenarios where the reduced supply from a Bitcoin halving could potentially lead to a price increase.

2. Miner’s income

Since miners earn fewer Bitcoins for their work, their income reduces instantly after the halving. This can be challenging for miners, especially those with high costs, as their earnings drop while their expenses (like electricity and equipment) stay the same or even increase. 

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Some miners may stop mining because it’s no longer profitable, which can lead to less competition and more centralized control of the Bitcoin network.

2. Public interest

Halving events often bring media attention to Bitcoin, sparking public interest and attracting new investors to the cryptocurrency market. This increased attention can also contribute to changes in Bitcoin’s price.

To mitigate the impact of market volatility, investors might adopt a strategy known as dollar cost averaging. This involves regularly buying a fixed dollar amount of Bitcoin over time. This approach can help investors spread out their purchases, potentially reducing the risk of investing a large amount at an unfavorable price before or after a halving event.

What is the next Bitcoin halving event?

The next Bitcoin halving event is a significant moment for the cryptocurrency, marking a reduction in the reward miners receive for verifying transactions on the blockchain. It is thought this will take place on April 20, 2024.

Currently, as of the beginning of April 2024, miners are awarded 6.25 BTC for each block they successfully add to the blockchain. This reward is halved approximately every 210,000 blocks or roughly every four years.

This halving event directly influences the supply and demand dynamics of Bitcoin. Market participants should build a Bitcoin halving investment strategy ahead of the seminal event. It is important to assess one’s risk tolerance, as the periods around halving events may increase market volatility and price fluctuations.

What is the reward of Bitcoin mining halving?

The first Bitcoin was mined on Jan. 3, 2009. This very first block mined is known as the Genesis Block or Block 0. It was mined by Bitcoin’s creator, who is known by the pseudonym Satoshi Nakamoto. The Genesis Block marks the beginning of the Bitcoin blockchain and the start of the cryptocurrency era. Initially, the reward for mining a block was 50 bitcoins. 

After the first halving, it dropped to 25 BTC, then to 12.5 BTC, and after the 2020 Bitcoin halving, the reward stands at 6.25 BTC per block. However, this will once more be cut in half in April 2024. 

The purpose of this halving is to control the supply of Bitcoin, ensuring that the total number of coins ever created is limited to 21 million. 

This mechanism helps to mimic the scarcity and deflationary characteristics similar to precious metals like gold, potentially increasing the value of Bitcoin over time as the rewards for mining decrease and new coins become more scarce.

If we observe the BTC price evolution over the last three Bitcoin halvings, the price has consistently gone up. While the price increase following past halvings has been exponential, nobody can tell for sure what will happen next.

Bitcoin halving promotions
Bitcoin halving patterns: Nexo

Will BTC price go up after Bitcoin halving?

Bitcoin halving is a pivotal event that significantly impacts the crypto ecosystem. By reducing the reward for mining new blocks, halving events decreases the rate at which new Bitcoins are generated. This impacts the supply of Bitcoin and can potentially lead to price increases if demand remains steady or grows. Users who successfully take advantage of Bitcoin halving promotions can thus potentially benefit twofold: from the promotions and prizes themselves and the potential growth in asset/portfolio value.

However, the precise impact on Bitcoin’s price and the broader crypto market is not guaranteed. Investor sentiment, market conditions, and global economic trends also play a part. In a volatile market like crypto, profits are never guaranteed.

Frequently asked questions

Will Bitcoin halving increase price?

Is Bitcoin halving bullish?

Does crypto go up after halving?

What happens to BTC price after halving?

Top crypto platforms | April 2024

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Iulia Vasile
Iulia Vasile is a seasoned professional in the cryptocurrency and blockchain industry, working full-time in the field since 2017. With a background in computer engineering, she has the unique ability to write about complicated topics, including DeFi, NFTs, trading, and AI, in a way that is easy to understand. Iulia learned multiple programming languages while completing her Software Engineering degree in Bucharest at Politehnica University. Iulia brings her expertise and personal...
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