Did you ever wonder what it would like to find the next Bitcoin or Ethereum when they were cheap enough for anyone to afford? Finding great projects before they launch and investing in them is the best way to make money in cryptocurrency. This entails taking part in new token sales, in which you buy a project’s token at a discount before it is listed on an exchange. And one of the best places to find these new projects early on is on the various crypto launchpads.
What are crypto launchpads?
Crypto launchpads are platforms that assist new cryptocurrency projects in raising funds via token sales. They assist both crypto investors looking to make a profit on an early project and startups looking to raise funds, gain exposure, and users for their project.
Are crypto launchpads important?
Previously, every new project held its initial coin offering (ICO) or new token sales on its website. Users will send money to the team in exchange for a share of the new token.
The issue arose when scammers began to take advantage of this process. They will sometimes take money from investors and then disappear before they are supposed to send the promised new tokens. At other times, investors will be given worthless tokens for a project that the team has no intention of developing.
As a result, many investors are wary of participating in new token sales by unknown teams, making it difficult for genuine projects to raise funds.As a result, crypto launchpads have become a thing. They contributed to the re-establishment of trust in ICOs.They assist in auditing and verifying every new project that wishes to raise funds through their platform, allowing you to invest with confidence.
The following is a comprehensive list of the top crypto launchpads where you can find new and promising projects to invest in before they become mainstream.
Top 3 Crypto Launchpads
With the launchpads listed below, you can get early access to some of the best new crypto projects.
- Binance Launchpad
- Enjinstarter Launchpad
- Polkastarter Launchpad
Here’s how to participate in token sales for these launchpads:
The Binance Launchpad is Binance’s exclusive token launch platform, with the goal of supporting the crypto ecosystem by providing all Binance users with first-look access to high-quality projects.
The Binance Launchpad token sale is in 4 stages:
- The BNB holding calculation period
- Subscription period
- Calculation period
- Token distribution period
To participate in new token sales on Binance Launchpad you need to hold BNB (Binance Coin) in your Binance account for a period of 6 days. Your average BNB balance on Binance within this snapshot period will be used to calculate the maximum amount you can commit to buying the new token. For example, if you had 10 BNB during this 6 days snapshot period, you will be able to commit 10 BNB to the new token sale.
However, the amount of the new token you get depends on the ratio of your committed BNB against the total committed BNB by all participating users, multiplied by the total token available for the sale. So, the more BNB you commit, the bigger your share of the new token. For more detailed information visit the Binance Launchpad site.
Enjin Starter is a blockchain gaming launchpad dedicated to the expansion of the Enjin ecosystem and metaverse. To participate in new token sales on Enjinstarter, you must first complete KYC and obtain the necessary number of EJS tokens.
Enjin Starter employs a two-tier allocation system based on the number of tokens you own and the length of time you’ve had them in your wallet:
- Guaranteed Allocation Pool
The guaranteed allocation pool, on the other hand, ensures that you always get a proportional share of the launchpad projects based on your tier.
- Community Allocation Pool
The community allocation pool is based on first come, first served. To participate in this pool, you must have a minimum of 1,250 EJS.
That is, the more EJS you hold and the longer you hold it, the larger your allocation. You can find out more by visiting their website where you can connect your wallet and get started.
Polkastarter is a multi-chain launchpad that allows developers with new projects to raise funds. Their projects are thoroughly verified and are backed by industry-leading founders and funders. Polkastarter selects persons to participate in the next token sales through a lottery system. For every launchpad project you whitelist, you get one entry into the lottery for every 250 POLS Power you accumulate.
With any launchpad project token sale, you must first whitelist your address. Then you will be able to participate in token sales. If you have 1000 POLS Power, for example, you will receive four lottery tickets when you submit your address for whitelisting. Because whitelisted addresses are chosen at random by launched projects, the more tickets you have, the more likely you are to be chosen.
After you’ve been whitelisted, you’ll be forced to complete the Polkastarter KYC procedure, which they claim is to ensure fairness and that no bots have been whitelisted by mistake, as well as to comply with the law.
- After you’ve completed KYC, you’ll have to wait for the IDO’s debut date and time
- You can take part in an IDO using Ethereum or BSC (Binance Smart Chain)
- Make sure you have enough money in your wallet to cover your allocation (plus fees) before the IDO
After each launchpad project or IDO token generation event (TGE), you can claim your purchased tokens by visiting a claim site. For more information visit Polkstarter and connect your wallet.
One of the most essential aspects about cryptocurrency is that if you can get into a project early on, you can make a lot of money. Crypto launchpads also allow you to find early-stage cryptocurrency companies and participate in presale rounds.
We’ve gone over three of the top crypto launchpads in this article. To avoid frauds and rip-offs, they all have a verification process that the projects they sponsor must undergo. You can invest with confidence and peace of mind without fear of losing your hard-earned money to hackers. However, you should be aware that investing in fresh enterprises carries some risk. The company could go out of business, the project could be compromised, and you could still lose money.
Do your own research, check the community (Twitter, Discord) and invest only what you can afford to lose.
Disclaimer: The author is an investor in Enjin.
Jay Speakman is a technology writer based in San Francisco, California. He writes on the topics of blockchain, cryptocurrency, DeFi and other disruptive technologies. Clients include Avalanche, Be[in]Crypto, Trust Machines and several blogs devoted to blockchain gaming. He will not rest until fiat currency is defeated.