People in Binance Square and X are at it again. Writing their price expectation by EOY and so on. Giving hope to people who are new to crypto and telling them that they are still early.
It feels like an indirect scam, where they tell you to buy near a bull run's peak. Telling you to hold and naming you "Diamond hands" and whatsoever.
Be smart people! Analyze the market cycle. DYOR!
Profit is a profit, take them if you are satisfied. Loss is a loss, manage your risks on your own.
Some accounts on Binance Square and X are good while some are just plain bullshit.
1. In your Binance app, there is one section where you can stake you BNB in BNB vault. Either stake them in simple earn (can be withdrawn anytime) or locked staking (locked for a certain period with higher APR)
2. Binance Launchpool and Binance Launchpad. using the amount of BNB that you have to join the Launchpool and Launchpad.
Launchpool is using staking mechanism. You will not lose any of your BNB and gain the to-be-launched coin.
Whereas, Launchpad is like a pre-sale. depending on the total amount of BNB contributed and the pre-sale price of the to-be-launched coin. Your BNB will be deducted upon distribution.
How do we earn from this?
As soon as the coin launch, sell them right away.
With a total of 15 BNB, I can approximately get ±60 USDT from every Launchpool and Launchpad. Sometimes more.
Keep what you earn in USDT and stake them in simple earn.
If BNB goes down, buy them again to add your BNB load for the next Launchpool or Launchpad.
For those who are new to Binance or even old members.
Please stay safe, there are lots of scammers. Be it on Binance or X or any other platdorms.
When Binance has a Launchpool or Launchpad, you can get the to-be-launched coin only from Binance Launchpool or Launchpad by staking or locking the required coin (i.e BNB or FDUSD or TUSD).
If there are other platforms that are having the same pre-sale, please DYOR.
If anyone ask you to transfer to his/her wallet address please do not entertain them. They are scammers promising the impossible.