Once they have a key, they can obtain and spend cryptocurrency. Without the key, the holder can’t spend or convert their cryptocurrency — rendering their holdings worthless unless and until the key is recovered.
Immediately after the platform went live, Binance.US also launched its Referral Program with a range of rewards being available to the customers and their referees under certain requirements.

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We also consider two additional factors that account for the finding that in some periods prices drift away from fundamentals. The first factor is the return of Bitcoin. We argue that Bitcoin, being the largest and most traded cryptocurrency, is the most perceptible to sentiment and speculative trading by investors. Thus, as a factor, it can capture periods when trading forces unrelated to fundamentals are the strongest. The second factor is a cryptocurrency price momentum factor that we construct following the seminal work of Jegadeesh and Titman (1993). Momentum effects have been linked to investor psychology (e.g. Barberis et al. 1998).