This post is not financial advice instead I'm sharing my experience with Binance Launchpool. Last year I invested in BNB coin when its price was pretty low in the market. This is the native coin for a leading international crypto exchange and the way this exchange has been getting more attention from the users might add more value to the coin price but again we can't predict how things will be in the market as this market is full of surprises. Coming back to my investment decision that I made last year when the coin price was low. I was hoping that there would be a good appreciation for the coin's value. The coin price was almost 250 USD when I invested and now its value has appreciated well.
Below is the snapshot for the current tries and a graphical chart where you can see how the price has grown in the last few weeks. This way the investment I made on this coin is the world but to be honest I do not expect this to happen so soon. I was expecting that the price would cross 500 US dollars in the next bull run cycle but I don't think we are in the bull run however this price has crossed the $500 mark.
My invested money has grown but on top of that, there is another benefit that I am sharing here. Binance has an option called Launchpool and through this, the exchange launches new projects. You can access launchpool through this link also if you want. In launchpool, you get the option to be part of farming by staking your BNB or FDUSD tokens. Usually, this farming is for a limited period and we can participate by staking our tokens once farming is over then these tokens are returned automatically. There is no loss because you get the same quantity and same token back in your wallet however as part of the reward we earn new tokens from the project.
These days the exchange has been listing new projects quite faster and in the march month itself three new projects were listed on the launch pool. I participated in farming using BNB coin as you can see in the below snapshot and all these three projects did pretty well in the market. Although the recent project price has gone up significantly after I sold off my tokens that is not a problem since we can't predict how things will work. For me, this reward varies between 50 dollars to 100 dollars depending upon the project hype in the market. This reward amount is not fixed because the price varies for every token and the figure I have mentioned is an approximate value however every project has given me this much of a reward in the range.
I'm happy that I have invested in this coin at the right time because my investment has also grown significantly and on top of that I can earn some additional rewards just by holding bnb in the exchange wallet. This year the exchange has launched multiple projects and looks like many more will be listed in the coming months which is going to be an opportunity for me to be part of and earn more free tokens. It's like an airdrop which is legit with no loss possibility and I also don't need to fill up unnecessary forms etc. Although I have invested to be part of it this investment is worth it because I have got a pretty good value spike on the investment and this additional reward is a kind of bonus.
Again this is not financial advice and I'm not asking you to invest in B N B because the price has already gone up. I don't know what is the all-time high price we are going to see for this coin in the market but I did invest when the price was around 250 U.S. dollars. Sometimes an investment can be a good decision when things are not looking good and in my case of bnb investment a similar fundamental applies. I mean to say when the market was red and it was the time when I invested with long-term strategy and I was hoping that the price to get the bird by the end of 2024 or in 2025. Fortunately, this price has more than doubled within less than six months hence I am happy with my investment decision and will continue to hold these coins to earn more free tokens from new projects.
Thank you
Posted Using InLeo Alpha