Most of you are already familiar with Binance Launchpad where you can subscribe with your BNB holdings to token Presales. These Presales on Binance Launchpad had been all successful so far.
Did you know that there is an exchange very similar to Binance that also allows you to participate in token presales on a Launchpad in a secure way?
This platform is called Bybit and here is how it works.
How It Works On Binance Launchpad
What you need to have if you want to participate in a token sale on the Binance Launchpad is $BNB, I mean a lot of $BNB. You need your $BNB to subscribe for the sale. After the allocation calculation is completed, Binance will deduct the corresponding amount of $BNB from your account based on your final token allocation.
As there are many people participating in these presales, you really need to have a lot of $BNB to get a significant number of the newly issued token in the final allocation.
How To Participate In A Presale On Bybit Launchpad?
If you have already participated in a token presale on Binance Launchpad, then you will quickly recognize that Bybit Launchpad works in the same way.
If you want to participate in a token Presale on Bybit, you need to have completed your KYC verification. Also, check the list of supported jurisdictions. If your jurisdiction is not supported for any reason then don't waste any time and simply move on to the next presale.
Instead of $BNB like on Binance you need to hold a token called $BIT.
You must hold at least 50 $BIT tokens in your spot, ByFi, or derivates wallet on average during the snapshot period.
After the snapshot period has ended, you will know how much of your $BIT holdings you can commit for the Presale and the subscription period starts. The subscription period usually lasts 7 hours and I recommend that you commit all your $BIT holdings.
You should commit all your $BIT holdings because, in the end, you won't be able to buy the newly issued tokens with all you committed tokens but only with a fraction of them.
The final token allocation equals the amount of $BIT you have committed divided by the total amount that all participants have committed multiplied by the total number of tokens allocated for the presale on the Bybit Launchpad.
based on the result, the corresponding amount of $BIT will be deducted from your committed amount and the remaining $BIT will be credited back to your spot wallet.
Shortly after the presale, the trading of the token starts and you can sell them right away if you want and make some profit.
My Final Conclusion
Launchpads are my favorite places to watch out for the next 100x low market cap gems before they even enter the market and Bybit Launchpad is surely one of these places. I am pretty sure that if you like the presales on Binance Launchpad, you will also love the presales on Bybit Launchpad. Both Launchpads are sure ways to make some profit.
Today, the snapshot period for the KASTA token has just started, a project that allows instant crypto payments for free. If you like to participate in this one, I recommend hurrying up. If you missed it, don't worry. The next promising presale on Bybit Launchpad will follow.
I also need to mention that my intention is also not to replace your own research. The thing is that I may look smart on my profile pic but nevertheless, I am not your financial sensei. 🤓 However, my post really reflects my own opinion.
Nothing in my post is sponsored, it really reflects my own opinion and I hope that I could provide you with some interesting and useful information about the Bybit Launchpad.
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