Bitget: What is a launch pool? Thorough explanation of how to participate

Bitget

I will explain the launch pool on Bitget’s virtual currency exchange. Bitget is one of the most famous virtual currency exchanges in the world, so it has a large number of users. Get paid a lot and make money.

What are the launch pool participation conditions at Bitget?

Bitget offers a service called Launch Pool, and Launch Pool is one of the asset management methods for crypto assets. This means that by depositing specific crypto assets of a new listed currency on an exchange, you can receive crypto assets for free as a reward, which is called staking. To participate in Bitget’s launch pool, you must meet the following requirements:

Opening a Bitget account

Opening an account with Bitget is a prerequisite. If this is not completed, you will not even be eligible to participate in the first place. We recommend that you open an account first.

KYC (identity verification)

In order to participate in the launch pool, it is a condition that KYC (identity verification) has been completed. Please note that just opening an account is not acceptable, and you will not be able to participate unless you verify your identity.

Holding BGB tokens

In order to participate in the launch pool, it is an absolute requirement to own BGB, Bitget’s unique token. To participate, you must have the Bitget native token BGB.

Advantages and disadvantages of launch pools

Bitget’s launch pool has the following advantages and disadvantages. Please think carefully before deciding whether to participate. A launch pool is an investment that can only be participated in for a very short period of time when a launch pool project using newly listed tokens will be conducted, so it will be a limited-time event.

Get rewards just by depositing

Bitget’s launch pool allows you to earn rewards just by depositing virtual currency. Unlike FX, virtual currencies are not bought and sold frequently to gain sales profits, so the advantage is that there is not a large risk of losing money. Since no technical analysis is required, it is easy for even beginners to make money.

Launch pool duration

Bitget’s launch pool is characterized by a very short deposit period. There is no need to hold a position for a long time. The launch pool period is short, 5 to 7 days, and you can earn profits in a short period of time. Also, since it is a short period of time, you can withdraw your funds in advance.

There is a risk of price decline

It’s okay to just have a launch pool, but there is a possibility that the BGB you bought to participate will drop in price significantly during the period. The volatility of virtual currencies is greater than that of fiat currencies, so they are subject to extreme fluctuations and liquidity.

Receive newly listed tokens in advance

At the launch pool, you can obtain tokens before they are listed on an exchange. If you are lucky, the price of the token may jump significantly after being listed. There is potential for big returns.

How to join Bitget’s launch pool

To participate in the launch pool, opening an account is a prerequisite. First of all, you can create an account for free by clicking a button, so let’s do that first. Please be sure to complete KYC. And then you will also need to make a deposit. I will introduce it in the article below, so I hope you find it helpful. It is a popular exchange that often appears in the news and is ranked high in trading volume, so there are no scams.

Once the deposit is complete, first log in to the official website and try accessing the home screen. Purchase BGB first, then select a launch pool from Earn.

Source : Bitget

A list of projects you can currently participate in will appear, so select the one you like. The launch pool is only available for a limited time, so if the timing is bad, you may not be able to participate at all, so please check the official website for the latest information and status. In order to participate in the launch pool, you need to deposit eligible tokens. In the image below, it says that you can earn by depositing BGB, so you need to deposit BGB.

Source : Bitget

Bonuses will be distributed depending on the amount of crypto assets deposited. However, newly listed tokens have large bonuses and are easy to earn, but new tokens have large price fluctuations, so there is a high possibility of loss and high risk and high return. Therefore, we do not recommend making large investments.

Launch Pool FAQ

We have summarized the frequently asked questions regarding launch pools below, so we hope you find them helpful. There are cases where the yield is better than spot trading and you can make money, but there are also risks. When checking branded products, consider the risks. Since it is a new coin, the market tends to be unstable and it is not as stable as BTC (Bitcoin), ETH, or USDT.

Which tokens do I need to participate in the launch pool?

The token required for the launch pool is BGB, Bitget’s own token. Participants can participate in the launch pool by depositing BGB and receive benefits. There are some good cases other than “BGB”, but there are not that many cases. Please check the official page for a wide variety of stocks every day.

Can a launch pool earn 100%?

No investment is 100%, not just a launch pool. If so, it would be a scam. Therefore, you must invest in virtual currencies at your own risk. There are no legal guarantees, so we recommend investing from a small amount. Manage your funds safely.

Are virtual currencies highly volatile?

Among virtual currencies, projects that participate in launch pools are coins that have not yet been listed, so they are highly liquid. It’s easy to get high risks and high returns, so be careful. You can look at detailed past data and analyze it to see if you can make a profit and consider whether to place an order.

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