We often come across unfamiliar terms, and whitelist in cryptocurrency is one of them. Many people don’t participate in such projects simply because they don’t understand the benefits.
In this article, I’ll explain everything about the importance of whitelists and why you should consider joining them.
What is a whitelist in cryptocurrency?
A whitelist in cryptocurrency projects is a list of individuals who get priority access to purchase tokens or NFTs during the early distribution phases.
If you manage to get into a whitelist, you’ll have the opportunity to buy tokens at a significantly lower pre-market price before they are listed on exchanges. This is extremely profitable—where else can you get such an opportunity for free? However, it’s essential to research projects carefully and not invest in everything blindly.
Here’s how it works in practice:
- register for the whitelist and get access to the token sale.
- purchase tokens, for example, for $50.
- sell them after listing for $100, $150, $250, $500, or even $1,000.
Typically, investments can multiply by 3-5x, and sometimes even 10-50x. Imagine investing $100 and earning $5,000—sounds great, right?
Good whitelist – WL from Abstract and Monsters Fun.
How to get into a whitelist?
Each project has its own requirements, but they are usually simple. Some of the common tasks include:
- subscribing to the project’s social media accounts
- inviting friends
- retweeting posts
- interacting with the project’s website or bot
Some projects require you to submit your wallet address and fill out a registration form. Others may ask for verification to prevent fraud.
Why do projects conduct whitelisting?
Whitelisting helps generate hype and demand for the token. The number of whitelist spots is always limited, making it a fair opportunity for participants to secure early access and profit from low entry prices.
Conclusion
Whitelists in cryptocurrency are an excellent opportunity to earn profits and gain early access to promising tokens.
However, it’s crucial to analyze projects carefully to avoid scams. Follow all requirements and stay patient—your opportunity to profit may come soon!
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