Realistically, if you are waiting for the cryptocurrency to be listed on Binance before investing in it, you are missing out on a significant profit opportunity.
Binance, being the largest trading platform, has high requirements in terms of market capitalization and trading volume for the cryptocurrency. When the cryptocurrency meets these requirements, investors who seized it before the listing have already made significant profits.
Therefore, if you want to invest early, the solution is to trade through decentralized exchanges (DEXs). However, if your experience is limited to using centralized exchanges, the world of decentralized trading can be complex and risky without sufficient knowledge.
This is where Binance Alpha comes in, representing an innovative solution from Binance to empower users to seize opportunities for new cryptocurrencies before they are listed.
In this article, I will explain what Binance Alpha is and how you can use it to discover potential new cryptocurrencies on Binance.
What is Binance Alpha?
It is a list of cryptocurrencies that Binance is considering listing on its platform. When it was first launched, Binance Alpha was just a list within the Binance Web3 Wallet.
But with its development, it is now available to the average user, allowing them to buy cryptocurrencies without needing to open a Web3 Wallet or deal with smart contracts.
The main advantage of Binance Alpha is that the listed cryptocurrencies have undergone thorough study by Binance before being added, reducing the likelihood of falling into fraudulent projects or scams.
But this does not mean that its profits are guaranteed, as the performance of the cryptocurrency depends on other factors such as market trends and related news, which we can discuss in other articles later.
How do you buy cryptocurrencies from Binance Alpha?
Go to the Markets page on Binance.
Next to the Spot and Futures options, you will find the Alpha option – click on it.
A list of cryptocurrencies listed in Binance Alpha will appear.
Choose the cryptocurrency you want, and you will be directed to its trading page.
You can buy the cryptocurrency using any available currency in your wallet, such as USDT, BNB, or others.
After confirming the transfer, the cryptocurrencies will be added to your wallet directly.
In this way, you have purchased a new cryptocurrency that is a candidate for listing on the Binance platform.
Are all cryptocurrencies in Binance Alpha listed on the platform?
No, not necessarily. Binance may remove a cryptocurrency from the Alpha list if there are negative changes in the project or news that affects its reliability.
Therefore, do not treat Binance Alpha cryptocurrencies as being guaranteed for listing 100%.
You can think of Binance Alpha as a business incubator for cryptocurrencies that Binance sees as having a good future.
If the cryptocurrency can maintain its activity and strong trading volume, there is a good chance it will be listed on Binance.
However, if it fails to achieve that, it will not be added to the platform.
