In the fast-paced world of cryptocurrencies, early earning opportunities in new projects have caught the attention of investors.
One of the most prominent opportunities is offered by Binance through an innovative tool known as Launchpool.
In this practical guide, we will take you step by step to understand how to use Binance Launchpool and increase your profits in a safe and effective way.
What is Binance Launchpool?
Binance Launchpool is a platform that allows you to earn new cryptocurrencies by locking (Staking) your existing tokens like BNB or FDUSD or TUSD, without needing to sell them.
Simply put, you deposit your tokens for a specified period and receive rewards in the new project's tokens before its official launch in the market.
Features of using Binance Launchpool
A chance to get new tokens for almost free.
Lower risks compared to direct investment in unknown projects.
Flexibility to withdraw tokens at any time (most of the time).
Daily rewards automatically added to your account.
Participate in projects supported by Binance, increasing their credibility.
How to use Binance Launchpool step by step
Step 1: Create an account on Binance
If you don’t have an account yet, register through the official Binance website and complete the identity verification (KYC) steps to enable you to use all services.
Step 2: Own the supported tokens
You typically need tokens like:
BNB (Binance Coin)
FDUSD (Stablecoin)
TUSD (Stablecoin)
You can easily purchase it through instant trading or via bank card.
Step 3: Enter the Launchpool section
Open the Binance app or the official website.
Go to the "Earn" section and then choose "Launchpool."
A list of currently available projects for participation will appear.
Step 4: Choose the suitable project
Review the details of each project:
Name of the new token
Total distribution rewards
The duration of farming
Required tokens for participation
Choose the project that suits you based on your evaluation.
Step 5: Lock your tokens (Staking)
Press the "Stake Now" button next to the project you chose.
Specify the amount of tokens you wish to lock.
Confirm the process.
Note: Some projects allow you to withdraw tokens at any time (Flexible), while others require locking tokens for a specified period (Locked).
Step 6: Monitor daily rewards
You can see the number of new tokens you receive daily.
Rewards are usually added to your withdrawable wallet as soon as the farming period ends or even during farming.
Tips to make the most out of Binance Launchpool
Follow official announcements: to be among the first participants in new projects.
Diversify your contributions: don’t put all your tokens in one project.
Monitor the farming duration: some projects offer higher rewards in the early days.
Use smart BNB: If you use BNB in Launchpool, you also benefit from reduced trading fees on Binance.
The difference between Launchpool and Launchpad
Binance Launchpool is a golden opportunity for every smart investor looking to enhance their profits from cryptocurrencies without significant risks.
By following the right steps, you can benefit from new tokens before their official launch in the market, increasing your balance in a safe and effective way.
Start your journey with Launchpool today, and always remember to follow the latest projects and updates on the Binance platform to ensure the best results.