Young Platform

Spring Cashback: get YNG tokens for every trade

Anna Perozzi

March 27, 2023

4 min

From March 27 to April 27, buy or sell crypto to receive cashback in YNG!

The air smells like spring and with it comes news and surprises! But we’re not here to talk about the weather getting milder, the days getting longer or bitcoin waking up, because we want to tell you about something more electrifying.

From now until April 27, every time you make a purchase or sale on Young Platform, you will receive 0.2% of your spend in YNG as described below. And if you are a Club member, the cashback can be up to 0.7%!

Don’t miss your chance to participate in Spring Cashback and take advantage of the promotion to accumulate new YNG!

What is cashback?

Cashback refers to the re-crediting of a portion of the costs incurred in a purchase or sale.

How to access the promotion?

The promotion is accessible to everyone, and is applicable on both crypto-crypto and crypto-fiat transactions, both for purchase and sale.

However, you cannot take advantage of it from Young Platform Pro: you will not receive cashback by making purchases and sales on the Pro exchange.

Where do I receive my YNG?

YNG tokens received with cashback will remain locked for 90 days, during which time you cannot sell them. They will be credited to your Young (YNG) Wallet in the “Locked YNG” section. At the end of the lock-up period, you will be able to use them as you wish.

When do you receive cashback?

Your YNGs will be credited on the Monday following the execution of your orders.

Here is the full schedule:

For transactions made between March 27 and April 2, cashback will be credited on April 3
For transactions made between April 3 and April 9, cashback will be credited on April 10
For transactions made between April 10 and April 16, cashback will be credited on April 17
For transactions made between April 17 and April 23, cashback will be credited on April 24
For transactions made between April 24 and April 27, cashback will be credited on May 1

How much is the cashback?

Let’s get to the important stuff: how much cashback do I get?

First of all, it will be calculated on the entire expense of each individual transaction, including trading fees.

If you have not yet joined a Club, you receive 0.20% YNG on the amount of each purchase or sale.

Let’s take an example:

On 27 March you buy 100€ of BTC and pay 2.50€ in fees, resulting in a net of 97.50€ in BTC.
On 3 April you receive 0.20%, of 100€ in YNG. If in the example the price of YNG is 0.107€, you will receive 1.8691588785 YNG.

Here’s how to calculate the cashback: cashback percentage*total expenditure/current price of YNG

What is the benefit for the Clubs?

Simple: Clubs receive a higher percentage of YNG tokens, as follows:

Bronze: 0.30%
Silver: 0.40%
Gold: 0.50%
Platinum: 0.70%.

We’ll let you in on a trick: if you are in a Club you can combine free deposits and Spring Cashback to boost your recurring purchases.

Shall we do the math, as if you were in the Platinum Club?

Hypothesis: your monthly recurring purchase of 500 BTC is scheduled for April 5.

It automatically triggers the €500 card deposit (if available in your country): normally you would pay €11.25 in fees, but with Club Platinum you pay only €6.25.
Immediately afterwards the purchase of €500 of BTC takes place, with 0 fees.
On April 10 you receive 3.5€ in Locked YNG.

The difference with a user outside the Clubs?