Launch money in the cryptocurrency market is a concept that is used for digital currency exchanges such as Binance exchange and through which users can earn money easily and with complete security. In fact, launch money is a service in the exchanges of the cryptocurrency market that calculates and takes into account the profit of users at any moment through stick money, and for this reason, it is very popular among cryptocurrency activists. If you want to learn more about the term Launchpool and its use in digital currency, don’t miss this article from Valex.
What is launch money?
Launch money is a mechanism according to which, by depositing certain coins, you can get new tokens and earn money in this way. For example, now that the Binance exchange has implemented this system on its site, it is expected that its special digital currency, which is Binance Coin with the symbol BNB, will gain advantages over other digital currencies, because in the launch money of the Binance exchange, BNB or altcoins should be used. Invest related like BUSD, ARPA or ONT to earn profit.
On the Launchpool platform, you earn by staking digital currencies, which is called yield farming in DeFi projects.
What are the benefits of Launch Money?
Launchpool has many advantages and benefits, which we are going to mention below:
- Using this mechanism, instead of keeping your funds in your wallet, you can earn profits by investing them in Launch Money.
- Binance exchange lists tokens that are registered in Launchpool.
- It is possible to withdraw profit on this platform at any time and situation you want
- Rewards in LaunchPool are calculated hourly.
Disadvantages of Launch Pool
But Launch Pool, along with its good advantages, also has some disadvantages that you should not ignore while using this platform. For example, you can only use this platform for 1 month. This time is short and maybe a project will not be executed well during this time.
Although the Launch Pool platform calculates profits hourly, there are many users in these Launch Pools. This increases the liquidity in the launch pool and significantly reduces the profit earned.
What are the rules of the LaunchPool platform?
Below we list some rules and conditions for using Launch Money in exchanges:
1. It is possible to remove tokens from staking mode in Launchpool at any moment.
2. If you invest in the Launchpool pool, you have the possibility to invest in other digital currency pools at the same time.
3. Every day, the profit of the users of Launch Money is deposited into their account. Of course, this has a direct relationship with the type of tokens you deposited and the type of pool.
4. To store tokens, you must use the Spot wallet.
5. To invest in LaunchPool, you need at least 0.1 BNB (on Binance exchange) or similar tokens.
6. The profit withdrawal time in Binance Launch Money Exchange is from 00:00 to 01:00 UTC time.
7. Only those who have authenticated in exchanges can use the Launchpool feature.
How to participate in Launch Pool projects
In order to be able to enter your capital into Launch Money, you must go to one of the exchanges that provide this service. Binance exchange is one of the best exchanges and now we are going to explain to you how to participate in the launch money of this exchange.
1. In the first step, enter the Binance site and click on the Earn option on the top bar of the page and then select Launchpool.
2. In the Launchpool section, you will be shown projects that you can earn by staking money.
3. Under each of the pools that are shown to you, there is an option called Stake Now that you must click on (in each project, you will see information such as the percentage of annual profit and the type of reward that will help you with a better view, tokens stick yourself).
4. Now you will enter a new page where by clicking on the Stake button you can enter Binance Launch Pool projects (of course, note that continuing the process is only possible for those who have completed their authentication).
Important points in using the launch money of exchanges
In the Binance exchange, when you wanted to enter the Launch Money platform in the past, you had to go to the Savings page, but now Launch Money is located on the Launch Pad page and the two have been combined. In a separate article, we have discussed in detail what a launch pad is.
If you intend to receive profit through Launch Money, you need to increase the amount of tokens you put into this platform, otherwise you will not get a good profit.
Launch Pool, a new way to invest
With the Launchpool feature in exchanges like Binance, a new avenue for investment opens up to you, which allows you to purchase unlisted tokens on exchanges and sell them after these tokens are listed on exchanges. In this article, we talked to you completely about Launch Money, and now if you want to use this method, just go to the Binance exchange or an exchange that offers similar services.
What is Launch Money? Getting to know the concept of launchpool in exchanges for the first time on the Wallex blog. appeared.
