Binance has announced its own fan token market! How to buy Worldwide?
Greetings, Binance, the largest cryptocurrency exchange on our planet, announced the Binance Fan token market on 13.10.2021. Binance, which has taken its place in the fan token industry, which has become very popular in recent years, will be a great source of income for many world sports teams. Cryptocurrency enthusiasts who trade fan tokens will be able to trade on the planet's largest exchange, such as Binance.
How to use the Binance fan token market? Let's examine it step by step.
First, subscribe to Binance. You can subscribe by clicking here.
Be sure to complete your KYC verification process after creating your account.
Deposit to Binance after this step.
Buying unlisted fan tokens
In order for a fan token to take place in the Binance fan token market, it must first take part in the Binance Launchpad period, which lasts for a few days
Important: a newly listed fan token will first be put on the Binance launchpad for a few days.
How can sports teams and clubs, esports teams apply to create fan tokens?
What you need to do at this stage:
1. You must buy BNB, if you have one, you must keep BNB in your account (Minimum 6-7 days)
2. The Binance launchpad system will average the amount of BNB in your account. This way, after 7 days, it will automatically show you how many BNB fan tokens you can lock.
3. At the end of the calculation process, you will lock the average amount of BNB available to you on the launchpad. These BNBs will be withdrawn from your account and in return will be loaded into your fan token account.
4. After your fan tokens are credited to your account, you can trade on the day of the listing.
Buying fan tokens that were previously listed on another exchange
If a fan token that was previously listed on another fan token exchange is listed on Binance, you can buy directly on the trading pair on the day of the listing.
Important: If special deals are made for some fan tokens, the staking period may begin.
Other advantageous deals will be announced by the Binance website through their official Twitter and telegram channels.
To learn more about the Binance launchpad 22nd project and the first listing of the Binance fan token market, the S.S Lazio Fan token, click HERE.
Prepared by: Emre Ata