Cryptocurrency investors who store assets in crypto wallets for a long period of waiting for an increase/decrease depending on the market situation may feel that it is a waste. Binance has launched a feature that allows crypto assets to introduce new tokens while investors hold them. This article learns about Launchpool: What is Binance Launchpool? How does that work? How to make money from Launchpool.
What Is Binance Launchpool?
Binance Launchpool is an investment feature that helps users invest in quality Defi projects to receive profits as new tokens. Defi projects through Launchpool can distribute tokens to users. So Launchpool is a form of effective intermediary for both users and new Defi projects. To invest in Binance Launchpool, users invest coins staked in a Defi project on Binance to the liquidity pool. As a result, users use BNB or BUSD, and staking to receive rewards (Yield Farming) is the token of the project.
The advantages of the Launchpool function:
- Investors can quickly get new tokens with just a few taps.
- Bonuses every hour, investors are flexible to invest or withdraw at any time.
- Investors have the opportunity to access and receive tokens from quality projects in advance.
- Owning tokens allows investors to own tokens that can increase dramatically in the future.
How does Binance Launchpool work?
Launchpool investors save BNB or BUSD (Farm Binance) for a certain period. Then, Binance pays investors token rewards every hour based on the ratio of BNB or BUSD initially staked on the total BNB and BUSD of each pool. In 30 days, investors receive new tokens listed on Binance depending on the time of launchpool’s countdown. Soon after, investors can use the earned tokens to trade. Launchpool looks similar to Binance Launchpad: an investment in a new blockchain project. However, with Binance Launchpad, investors must use BNB to purchase new publicly traded tokens. If investors are not in a hurry, they may not buy it. However, with Launchpool, investors only need to lock BNB or BUSD during the pool and receive tokens.
How to make money with Binance Lauchpool?
- LaunchPool Investment Conditions
To invest in Launchpool, investors must have a regular Binance account that has successfully verified their identity. If you do not have a Binance account, register using the link below:
In addition, the investor must also have BNB or BUSD available in the spot portfolio.
- How to target Launchpool?
Access to the Launchpool feature: Sign in to Binance accounts, click Finance, then click Binance Earn. Scroll down to the Lauchpool area, select Go to Launchpool.
Register to point to Launchpool: Select the project, select the type of token available, click Stake Now. Select Bet in the My Bottom window, enter the number of coins, then click Bet.
After some time, the My Reward Rewards window appears; click Claim Rewards to receive this coin on the Binance Spot wallet.
Conclusion
So we just learned about the Launchpool feature and how to make money from Binance Pauchpool. This is a very safe and easy way to earn free coins. However, it is up to the investor to determine which pools have good upside potential for staking. Check out more ways to invest in Binance here.