FIP Crypto
Binance Alpha isn’t worth your time anymore.
While it has earned me about $800 in profit (mainly due to NXPC), I’ve stopped doing it a few weeks ago.
It no longer makes sense to fight with bots for an FCFS allocation that gets wiped out in less than a minute.
With all these hidden costs that nobody talks about:
It has become a second job with poor returns.
I’ve stopped doing Binance Alpha, and here’s why you probably should too:
In an ‘attempt’ to level the playing field, most Alpha drops are now FCFS with a lower Alpha requirement.
But this has led to a mad rush whenever a new token is released:
The tokens are claimed within the first minute after launching.
It’s virtually impossible to claim them even when you’re camping at the page:
Tons of bots will claim them faster than you ever could.
The only achievable ones would have a higher point threshold for the first 18 hours, but these don’t happen all the time.
There’s a ton of shady stuff happening on the BSC, including the massive ZKJ price dump.
A few BSC tokens have turned into Alpha ‘stablecoins’, where the price is so stable that most Alpha traders only incur trading fees.
But even those can lead to a dump, just like what we saw for BRL
Their token had 2 massive pumps before another 2 dumps.
If you were unlucky and traded BR at the point of a dump:
You would have taken a huge loss, and Bedrock will likely not compensate you:
Binance Alpha is all about minimising fees when trading Alpha tokens, so some token pools have been artificially stabilised with liquidity that can be removed at any time to dump the price.
So we’re essentially trading a ticking time bomb and it’s not worth the risk.
I used to complete my swaps on Binance Alpha at the start of every morning, but it became such a grind that I couldn’t continue any longer.
It became so repetitive and I now have zero motivation to make the trades.
Yes, it only takes about 15 minutes to complete all my swaps, but I don’t see a point in doing it any more, especially with the FCFS claims.
I have to turn my notifications on for Binance’s Twitter to avoid missing out on any Alpha drops.
And that need to be constantly on the lookout drained me mentally.
I’ve felt more carefree now without having to care about the next Alpha drop, and I’m not turning back.
Ultimately, Binance is not doing Alpha drops as a charity event:
They want to earn fees from you.
All the wash trading between USDT and Alpha tokens has artificially inflated the metrics on Pancakeswap.
And they’re trying to get you to use their CEX Limit Orders, where they’ll likely earn more from the slippage they charge you.
We pay about 1-1.2% slippage for each trade.
Binance is likely getting big fees from projects listing on Alpha, so they’re the main winners here.
Binance Alpha is a perfect example of how ‘easy money’ will always be gamed by those who exploit the system:
The points threshold kept increasing at the start because farms started flooding Binance Alpha
FCFS claims are now dominated by bots (I guess their KYC and facial scans aren’t effective)
Binance Alpha is now full of Sybils, and the allocations are now heavily diluted thanks to them.
Binance likely won’t care about eliminating them, so long as trading volume remains strong for these tokens.
And that’s why I have completely given up on it:
Binance Alpha has become a mindless grind.
Unless trading every day is something that you can comfortably do and earn profits:
I’m doubtful that this will be profitable in the long run.
So that’s why I’m choosing to use that 15 minutes on other tasks that give me a better ROI on my time.
Time is our most valuable asset for airdrops, and I shared the top signals I use to interact with a project here:
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17 Jul
Most airdrops aren’t worth your time.
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