What is Binance Launchpool? How to make money with Binance Lauchpool?
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Cryptocurrency investors who store assets in crypto wallets for a long to wait for an increase/decrease depending on the market situation may feel it is a waste. Binance has launched a feature that allows crypto assets to bring in new tokens while investors hold them. This article learns about Launchpool: What is Binance Launchpool? How does it 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 intermediary effective to both users and new Defi projects. To invest in Binance Launchpool, users to invest staked coins in a Defi project on Binance to the liquidity pool. Accordingly, users use BNB or BUSD, and staking to receive rewards (Yield Farming) is the project’s token.
The advantages of the Launchpool feature:
- Investors can quickly get new tokens with just a few taps.
- Bonus hourly, investors are flexible to invest or withdraw at any time.
- Investors have the opportunity to access and receive tokens from quality projects early.
- Owning tokens allows investors to own tokens that can increase sharply 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 hourly based on the ratio of BNB or BUSD initially staking to each pool’s total BNB and BUSD staking. In 30 days, investors receive new tokens listed on Binance depending on the time of Launchpool countdown. Immediately 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 buy new tokens listed on the exchange. If investors do not hurry, they may not buy it. However, with Launchpool, investors only need to lock BNB or BUSD during Pool time and receive tokens.
How to make money with Binance Lauchpool?
- Investment Conditions LaunchPool
To invest in Launchpool, investors need to have a regular Binance account that has successfully verified their identity. If you do not have a Binance account, register using the link below:
* See more: The complete guide Binance from a to z
In addition, the investor must also have BNB or BUSD available in the spot wallet.
- How to staking Launchpool?
Access to Launchpool feature: Log in to Binance accounts, click Finance, then click on Binance Earn. Scroll down to the Lauchpool area, select Go to Launchpool.
Register to stake on Launchpool: Select the project, select the token type available, click Stake Now. Select Stake in the My Fund window, enter the number of coins, then click Stake.
After some time, the My Rewards window displays the reward; click Claim Rewards to receive this coin to the Spot Binance wallet.
So we have 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. Learn more ways to invest in Binance here.
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