If you are late to receive free Token on Binance or simply have a source of passive income when investing in Binance Token $BNB Then read this article now!
First, let's answer a few basic questions about Binance Launchpool so you can understand better.
What is Binance Launchpool?
Binance provides a platform that allows users to earn new Token by Stake their existing Token on the platform. During a certain period of time, users will receive new project Token depending on the amount and time of staking. These new Token can be held long-term or sold immediately when they are listed on the exchange. Projects participating in Binance Launchpool often attract attention from many crypto investors because of their future growth potential.
How to join Binance Launchpool?
Just own $ BNB or $FDUSD that you can join Binance Launchpool to receive new Token .
However, you should be careful about being a holder $BNB because they have long-term beliefs about $BNB and receiving the Launchpool reward is just a reward.
Compared to being an investor, buying BNB directly to farm Token, if the amount of Token farmed cannot compensate for the decrease in BNB price after the end of Launchpool, it will cause you to lose money.
So the tip is that besides buying BNB directly to participate in Launchpool, you may not earn much profit because the price of BNB decreases after Launchpool ends, so you can put USDT into Margin to borrow collateral or Open a Short order x1 of BNB before buying BNB to avoid losses!
How does Binance pay rewards?
Binance Launchpool's payout method Launchpool will measure rewards every hour from the time you Stake Token. The total number of Token stored depends on the total number of Token you Staking and the total amount of crypto committed to the pool. Simply put, if you have 10 BNB, the total Token commitment of all participants is 1,000 BNB , then you will be Chia 1% of the reward Token . Your BNB or FDUSD amount will remain intact when participating in Launchpool, and will not be lost or deducted. 100% will be refunded after you choose redeem or wait until the event ends. After 7 days of farming for the new project, Binance will list the Token on the market. At this point, you can trade Token as usual. If you don't want to hold them, you can sell them for profit immediately.
Instructions to join Binance Launchpool
Conditions to join Binance Launchpool
You need to meet the following 2 requirements to join Binance Launchpool:
- Own a KYC (identity verification) Binance account
- Already have an amount of BNB or FDUSD in the exchange wallet
If you meet the conditions, please read the steps below to participate in Binance Launchpool!
Instructions for phone interface
Step 1 : Go to Binance Home , select “More” . Scroll down to find the “Earn” section and select “ Launchpad ”.
Step 2: At this interface, scroll down to XEM the FDUSD Pool or BNB Pool of the project currently opening Launchpool. APY parameters will be updated after that project's Token is listed on Binance.
The remaining thing is to choose the Pool where you want to Stake your Token and select "Stake Now". In the illustration below, Allinstation chooses a BNB pool to Stake.
Step 3: Here you continue to select "Stake"
Step 4: The remaining thing is to enter the number of Token you want to Staking and select "Stake" to complete the process.
When you stop Stake, you select Redeem and enter the amount you want to unstake and you're done.
Finally, to receive reward Token , you just need to select "Claim Rewards" at the bottom. The Token you farm will be automatically transferred from Binance Launchpool to the Spot wallet.
Web interface instructions
Step 1: Visit the Binance Launchpool website
Step 2: Scroll down to the Launchpool row and find the current project's Launchpool
Here you choose the project pool you want and select "Stake Now" .
The remaining steps are no different from the phone interface I instructed above. Just follow them to be able to participate in Staking and receive Launchpool Token .
Besides buying directly $BNB To participate in Launchpool, you may not earn much profit because the price of BNB decreases after Launchpool ends, so you can put USDT into Margin to borrow collateral or open a Short order x1 of BNB before buying BNB. Join to avoid losses!
