Update: Currently Binance has changed the way to buy tokens of IEO projects on their Binance Launchpad platform, to buy tokens, users must hold a certain amount of BNB within 20 days before the IEO takes place. to receive a "lottery ticket", then Binance will randomly spin and select the winner to buy the token. You can see more details about this new purchase here.

Binance Launchpad - the platform is mentioned a lot after the popular token sale of BitTorrent (BTT), with the owner being the world's leading cryptocurrency exchange Binance. This article I Love Bitcoin will join you to find out what is Binance Launchpad? How does it work? How to invest in buying tokens from IEO projects on Binance Launchpad? I will guide you how to register an account, verify, recharge to buy tokens, .. from A - Z most complete for beginners.

What is Binance Launchpad?

Binance Launchpad - Binance's proprietary token launcher, a platform that helps Blockchain projects attract investment and increases the accessibility of projects across the cryptocurrency ecosystem. With more than 10 million users of Binance, this exchange will help projects reach the community in the most powerful way. In return, Binance users will also be introduced to the best and most potential projects from Binance Launchpad.

Binance Launchpad is not just a token sale platform, it also provides a complete service for projects, from knowledge to experience. By participating in Binance Launchpad, projects will be able to focus all their efforts on the most important tasks such as product development and practical application.

"In 2019, Binance Launchpad will help launch projects (launch) to serve the global crypto ecosystem, benefiting people around the world," said Binance CEO - Zhao Changpeng (CZ) said. “Pushing superior token sales into the Launchpad platform is part of our next efforts to create a safe and open token issuing environment, paving the way for a healthier market by 2019. and more".

Recently, Binance also announced that a new project will be introduced on Binance Launchpad every month to sell tokens. BitTorrent and Fetch.AI will be the first two projects supported by Binance in the new year. In particular, the BitTorrent project has been successfully completed, and Fetch.AI is expected to open the token sale on February 25.

What does a cryptocurrency project want to onto Binance Launchpad?

Every project that wants to be sold on Binance Launchpad must undergo a rigorous review process to ensure that the project meets the criteria set by Binance. Some factors such as:

• The project has grown to a relatively mature step
• Ability to scale large
• Strong and dedicated team
• The potential to benefit the growth and development of the wider cryptocurrency ecosystem

When a project passes this evaluation process, it will appear on Binance Launchpad as follows: As you can see, "Success" is the project has ended, and "Upcoming" is about to take place.

Why buy tokens from projects on Binance Launchpad

This section will be your personal opinion, you can refer to and make your own investment decisions, should not be taken as an investment advice.

Usually when looking for a coin project to invest in, there will be two investment directions: "long-term" and "short-term", with long-term investment, there will be many factors to consider and evaluate as ideas, The development team, the community, the actual product, the roadmap, the practicality, etc. but there have been a lot of articles shared, I won't go into the long-term investment direction but I will mention the factors. For short term investment, it may not be suitable for some people who want to invest in long term, if you feel that it is not suitable, you can ignore it.

The biggest factor that I think should participate in the token sale project on Binance Launchpad is "Binance" - an exchange with the largest volume in the world and has over 10 million users, when being on Binance Launchpad surely that project will be noticed by the community, the large number of participants makes the token scarcity increase, backed by Binance marketing is also not simple.

Moreover, soon after the token sale ends, Binance will list the token on their platform for trading, which is what many ICO projects desire. The prime example is the BitTorrent project, shortly after Binance posted the BTT price soared by more than 80% with a trading volume of hundreds of millions of dollars. FOMO psychology will impact quite a lot on projects on Binance Launchpad.

Of course, you still need a reasonable investment strategy, here are some common ways to invest after buying the token:

• Whole sale after going to the floor
• Sell ​​enough tokens to break even long-term hold
• Sell ​​half after going to the floor and holding half of the long-term hold
• Sell ​​two parts after going to the floor and retaining a long-term hold...

Depending on your investment needs and strategies, if you feel that the project has the potential to be evaluated individually, you can choose option 2, and if not, you can refer to how 4.

Some countries are restricted from participating in Binance Launchpad

Investors in the following countries will not be able to participate in the token purchase on Binance Launchpad due to legal or other reasons:

This list of prohibited countries is subject to change depending on the project.

Instruction on how to invest in tokens from IEO projects on Binance Launchpad

Below I will guide you how to invest in buying tokens from the IEO projects present on Binance Launchpad in the most detailed, this guide will be common to all projects. Of course, before that you should learn about that project, when you decided to invest, then join.

Step 1: Register an account on Binance

Binance Launchpad is an affiliated platform of Binance, so to participate in buying tokens on Binance Launchpad you need to register an account on Binance, if you already have a Binance account, you can skip this step. Click here  ( binance.com ) for instructions on creating an account on Binance. 

Step 2: Verify your account on Binance

In order to participate in buying tokens on Binance Launchpad, the mandatory condition is that your account must be verified (KYC), you continue to click here to see how to verify Binance account. Once the account has been verified, you access Binance Launchpad will see the word "Verified" in green as below. If you have already verified your account, skip this step.

Step 3: Select the project you want to buy tokens on Binance Launchpad

Note: The launch mechanism of Binance Launchpad is "come first, buy first", so you need to align on time for opening and buying quickly, projects on Binance Launchpad are usually sold out with time equal to only seconds.

Step 1: First you log into Binance.com as usual, after logging in, you hover over the square next to Exchange on the menu bar and select "Launchpad" or go here https://launchpad.binance.com/ .

Step 2: You need to "sign Binance token agreement", click "Please sign the agreement" then select "Accept".

Now you will see all 3 items have a green shift which means you are eligible to participate in the purchase of tokens.

Step 3: Here you will see the projects that have been completed (Seccess) and about to open for sale (Upcoming), I will make an example with the BitTorrent project, you can see that BitTorrent will have two options purchased with TRON (TRX). ) and Binance coin (BNB), each project will accept to buy with a certain coin, but usually will be BNB coin, before you need to see which coin the project is accepted and pre-purchased on Binance and then wait to open sale to buy it. Here I will choose to buy with BNB coin. If you do not know how to buy coins on Binance, come here to review.

Step 4: When the project is open for sale you will see a yellow "Buy now" button, click on "Buy now" to start buying the token.

Enter the number of BTT you want to buy, you can see the price of 1 BTT = 0.00001824 BNB (with the price of BNB at that time was 6.58000 USD) and allowed to buy the maximum (Max) is 166.66.666 BTT => enter the captcha on the side Under and select "Confirm". (If the Capcha section does not display clearly, click on the image to try again.)

You wait a while for Binance Launchpad to process your order.

If your purchase is successful, the following message will appear.

You can review the orders purchased at "My Orders".

Here you will see the purchase orders that you have previously placed.

Ok, so you have successfully purchased BTT Token on Binance Launchpad already, the token will be returned to your Binance wallet after 15 days from the end of the project. You should follow Binance's social media channels and blogs to wait for the announcement of listing and start trading your tokens, as well as update the latest projects that will be available for sale on Binance Launchpad.