Binance Launchpool is a Binance feature that allows you to receive new tokens completely free of charge by staking BNB, BUSD or other tokens (staking is the act of blocking cryptocurrencies to receive rewards). If you are interested in enriching your portfolio, this product is a surefire way to produce new assets.
HOW TO JOIN LAUNCHPOOL
Using launchpool is very simple. Open the navigation menu and click on LAUNCHPAD
The period of “farming” and cultivation of the new token normally lasts 30 days. All you have to do is stake your BNB, BUSD or other tokens, receiving an hourly reward with the new token. Select what you want to stake by clicking on STAKE NOW.
On the next page you can see the details of the project being launched, have access to useful information on the token to be farmed and the annualized percentage return you will receive.
The left pane, MY FUNDS, is for staking your BNBs. Click on STAKE to move the amount of BNB you want to stake. If you don’t have BNB you can buy them by clicking on BUY BNB. The REEDEM button, on the other hand, is used to withdraw your staking funds.
In the right pane, instead, you will see your rewards that you will accumulate every hour and you can request at any time by clicking on CLAIM REWARDS, without paying any transaction costs.
At the end of the farming period, your staked BNBs will automatically return to your account.
WHAT TO DO WITH THE NEW TOKEN?
The rewards you receive will go to your spot wallet and will be available to you for anything. You can keep them if you think the price will rise, or you can exchange them for other tokens. Whatever your choice, it’s ever a good idea to participate in the launchpools: there is no participation fee and it will allow you to increase your assets effortlessly. For this reason, we recommend you to have always some BNB available in your spot walle and do not to miss this opportunity. The launchpool is not the only passive income opportunity that Binance offers you. To find out all the earning opportunities Binance offers, read our article on how to make money with Binance.