There are lots of ways to make money on Binance and #BinanceLaunchpad is one of them.
Binance Launchpad provides you with the opportunity to invest early in new and innovative projects in the cryptocurrency space.
It is a way of supporting the development of the blockchain ecosystem and also a chance to earn some profits by buying tokens at a discounted price before they are listed on the Binance exchange.
But how do you profit from Binance Launchpad?
How do you choose which projects to invest in?
How do you avoid scams and losses?
These are some of the questions that I will try to answer in this article, based on my experience and research.
What is Binance Launchpad?
Binance Launchpad is a part of Binance, the world's largest cryptocurrency exchange by trading volume. Binance Launchpad hosts token sales for selected projects that have passed a rigorous screening process by the Binance team.
These projects are usually innovative and promising, with a clear vision and a strong team behind them.
Types of Token Sales on Binance Launchpad
Binance Launchpad offers two types of token sales: fixed-price sales and lottery sales. Let me enlighten you on both.
a) Fixed-price sale
In fixed-price sales, you can buy tokens at a set price until the hard cap is reached or the sale ends.
b) Loterry sale
In lottery sales, you need to hold a certain amount of BNB (Binance's native token) in your account for at least 7 days before the sale, and then you can claim lottery tickets based on your BNB balance.
The more BNB you hold, the more tickets you can claim, up to 10 tickets per account. Then, a random draw determines which tickets win the right to buy tokens.
Binance Launchpad Alumni
Binance Launchpad has hosted some of the most successful token sales in the crypto space, such as:
BitTorrent (BTT), not (#BTC )
Fetch.AI (FET)
Celer Network (CELR)
Matic Network (MATIC)
Harmony (ONE)
Elrond (ERD)
Band Protocol (BAND)
Some projects have seen huge returns after listing on Binance, while others have performed poorly or lost value.
How Can You Profit from Binance Launchpad?
This is not financial or investment advice. There is no guarantee that you will profit from investing in Binance Launchpad projects, as there are many factors that influence the price of a token after listing, such as market conditions, competition, hype, community support, development progress, partnerships, etc.
However, here are some tips and strategies that can help you increase your chances of making a profit on the #Binance Launchpad:
1. Do your own research:
This can not be overemphasized! Before investing in any project, you should do your own research and due diligence.
Take some time and peruse the project's whitepaper, website, social media channels, blog posts, etc., and understand what problem they are trying to solve, how they are solving it, what is their competitive advantage, who are their team members and advisors, what is their roadmap and milestones, etc.
You should also check the project's tokenomics, such as the total supply, circulating supply, allocation, vesting schedule, etc., and see how they affect the token's value and scarcity.
2. Follow the news and updates:
Don't say you didn't know! Information is what makes the difference in the crypto space.
Follow the news and updates about the project and Binance Launchpad. Be aware of any announcements, partnerships, events, AMA sessions, etc., that can create hype and demand for the project.
You should also monitor the market sentiment and feedback from other investors and influencers. Be prepared for any changes or delays in the token sale or listing schedule.
3. Plan your entry and exit:
If nobody has told you this before, hear it now.
No matter how much you love a project, as long as you want to make a profit, you need to have a clear plan for your entry and exit strategy.
Decide how much you are willing to invest in each project, how much BNB you need to hold for lottery sales, how many tickets you want to claim, etc. Then, also decide when and how much you want to sell after listing on Binance.
Don't hope for the moon and wait for it to reach the moon, most don't. But a lot of Binance-listed tokens shoot past the clouds. Set realistic expectations and goals for your returns and be ready to take profits or cut losses depending on the market situation. You should also diversify your portfolio and not put all your eggs in one basket.
4. Be careful of scams and risks:
You need to be careful of scams and risks involved in investing in Binance Launchpad projects.
Make sure to only use the official Binance website or app to participate in token sales and never send funds to any third-party platforms or addresses.
Phishing attempts aren't going anywhere, so you need to be smarter. Be aware of fake websites, fake social media accounts, etc., that may try to trick you into giving away your personal information or funds.
Take note of the volatility and unpredictability of the crypto market and be prepared for any price fluctuations or crashes.
Conclusion
Binance Launchpad is a great opportunity to invest in new and innovative projects in the crypto space and potentially earn huge profits by buying tokens at a discounted price before they are listed on Binance.
However, it is not a get-rich-quick scheme and it requires good research or tip-offs, planning, and risk management. Try to always do your own research and due diligence before investing in any project and never invest more than you can afford to lose.
Lastly don't just jump on any project because it's trending. Even if it is featured on #BinanceTournament events or they claim to be launching something bigger than #bitcoin , only put your money where your heart and brain are.
