In #ENALaunchpool , many people face loss. We will talk about when to leave mining and how much to bet on $BNB versus $FDUSD .
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An important thing to think about on Binance Launchpool is the $BNB market. When Binance started #ENALaunchpool, $BNB was around 590 USDT and now it is at 605 USDT. What this means? Many people bought BNB at 605 USDT for mining.
This is bad? Let's say someone invests 605 USDT to buy 1 BNB for mining. In the end, let's say they mine 5 ENA tokens. But when the project ends, many people sell $BNB, perhaps lowering its value below 590 USDT. If they sell their $BNB for 580 USDT and receive 5 ENA tokens (worth 2 USDT each), they will end up with 590 USDT, which is a loss of 15 USDT against their initial investment of 605 USDT.
This happens to a lot of people on Launchpool. So what can we do to avoid losing money? Two steps can help: 1) Keep the BNB purchased before the Launchpool announcement and 2) Sell $BNB before the Launchpool ends. Doing so can lower your risk of losing money.
Now, let's talk about how to earn with FDUSD compared to $BNB. Personal experience shows that FDUSD gives a 20% reward, while BNB gives 80%. But staking on FDUSD gives more profit than $BNB. Therefore, it is smart to invest more money in FDUSD staking. This not only gets you more $ENA for the same money, but also protects against $BNB price changes that could cause losses.
We hope this helps you. And remember, your engagement – likes, comments, shares or tips – helps build a community and shares useful information with people like you. Have a great Easter!
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