⚠️Believe it or not but a lot of people lose money in #ENA Lauchpool ⛏️⚠️
🚨In this post we will discuss:
When to Leave ENA mining and how much to stake $BNB Vs $FDUSD 🚨
There are several factors to account for regarding the Binance Lauchpool, and the biggest one is probably the $BNB market fluctuation.
When Binance launched #ENA Lauchpool BNB was around 590 USDT and is now at 605.
What does this mean?
It means that a lot of people bought BNBs for 605 in order to get into the mining.
Ok, and is that bad?
Let's say I have 605 USDT and I go buy 1 BNB at 605 to stake in the Lauchpool.
by the end of the project let's say I have 5 ENA mined. When the project ends everyone and their mother's will sell BNB and it will drop probably below 590.
So If I sell my BNB at 580 and gain 5 ENA (worth 2 USDT each) by the end of the Lauchpool project I will have 590 USDT and I started with 605.
That is a 15 USD defice!
This is the reality for a lot of people that participate in the Lauchpool!
So what can we do to avoid this.
There are 2 steps one can do to avoid losing money.
1 - You have BNB bought before the launchpool announcement.
2 - You sell your BNB before the end of the Lauchpool.
Any of these steps will help you a lot to avoid losing money.
Now I want to talk about something else, and that is the amount of Earn of FDUSD vs BNB.
For my personal staking experience I noticed that FDUSD has only 20% rewards and BNB hás 80% rewards but I'm winning a lot more with my staked FDUSD than with my BNB.
That means a lot of people are only staking BNB!
So I advice you to stake more FDUSD than BNB and that will make you win more ENA with the same money and also avoid the BNB fluctuations that can make you lose money.
Hope this post serves you.
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🐇 Good Easter to all! 🐇