Detailed tutorial for Binance Web3 Wallet Alpha platform
The Binance Alpha platform is an innovative feature in the Binance Web3 wallet, designed to provide users with the opportunity to explore early Web3 projects. Through this platform, users can purchase selected on-chain tokens in advance, which may be listed on the Binance exchange in the future and have significant investment potential. Here is a detailed participation tutorial to help users from preparation to transaction without worries.
1. What is the Binance Alpha platform?
The Binance Alpha platform is an important module in the Binance Web3 wallet, mainly used to showcase potentially promising early projects in the Web3 ecosystem. Through the Alpha platform, users can:
Purchase selected on-chain tokens in advance, as these tokens may become popular assets on the Binance exchange in the future.
Participate in the early development of the Web3 ecosystem and seize market opportunities.
Experience a quick and efficient on-chain transaction process.
Features of the Binance Alpha platform
Selected tokens: The platform selects tokens with strong community support, high market attention, and in line with industry development trends.
Quick purchase: Through the Quick Buy feature, users can easily complete token purchases.
On-chain transactions: All token transactions are conducted on-chain, and users need to prepare the corresponding native tokens of the chain as transaction fees.
How to enter the Binance Alpha platform?
Open the Binance APP.
After logging in, go to the Web3 wallet.
Find the Alpha section on the wallet homepage.
Click to enter to view upcoming tokens, purchase countdown, and related information.
2. Preliminary preparations
Before participating in the token purchase on the Binance Alpha platform, users need to complete the following preparations:
1. Update the Binance APP to the latest version
To ensure the proper use of the Binance Web3 wallet and Alpha platform, users need to update the Binance APP to version 2.92 or higher.
Update method:
Open the Binance APP, click on the settings in the upper left corner of the homepage, and select 'Check for updates.'
If you are an Apple user, go directly to the App Store to search for 'Binance' and update the app.
Notes:
If you still cannot use the Web3 wallet after the update, try uninstalling and reinstalling the Binance APP.
Ensure that the network connection is stable to avoid update failures.
2. Create a Binance Web3 wallet
All transactions on the Binance Alpha platform are on-chain transactions, and users need to complete token purchases through the Web3 wallet. Here are the detailed steps to create a wallet:
Open the Binance APP and log in.
Click the 'Wallet' icon at the bottom right.
On the wallet page, select 'Create Wallet' and then click 'Web3 Wallet.'
Set the wallet password and complete the following operations as prompted:
Mnemonic phrase backup: The system will generate a set of mnemonic phrases (usually 12 or 24 words), please make sure to write them down and keep them safe.
Security verification: Confirm the order of the mnemonic phrase to complete wallet creation.
Notes:
The mnemonic phrase is the only way to recover the wallet, and it must not be disclosed to others.
If the mnemonic phrase is lost, the assets in the wallet cannot be recovered.
3. Prepare funds
To participate in token purchases, users need to prepare enough native tokens in the Web3 wallet to pay for token purchase fees and on-chain transaction Gas fees. Here are the first batch of tokens with their corresponding chains and recommended funds:
Recommended funds for native chain tokens: Solana chain SOL at least 1 SOL, Base chain ETH at least 0.05 ETH, BSC chain BNB at least 0.1 BNB
How to recharge the Web3 wallet?
Taking Solana chain as an example, here are the steps to withdraw from the Binance main account to the Web3 wallet:
Open the Binance APP and go to the 'Wallet' page.
Click 'Withdraw' and select the token you want to withdraw (e.g., SOL).
Enter the Web3 wallet address (can be copied from the Web3 wallet).
Enter the withdrawal amount and confirm the transaction.
After submission, wait for the on-chain transaction to complete (usually takes a few minutes).
Notes:
Please carefully check the wallet address when withdrawing to avoid asset loss due to address errors.
Ensure there are enough Gas fees in the wallet to avoid transaction failures.
3. Token purchase process
After completing the preliminary preparations, users can participate in token purchases on the Binance Alpha platform. Here are the detailed purchase procedures:
1. Wait for the token to launch
Open the Binance APP and go to the Web3 Wallet page.
Click to enter the Alpha section to view the list of upcoming tokens.
Pay attention to the time window for token launch and participate in the purchase immediately after the countdown ends.
Tips:
The time window for the launch of each token is usually short, so please plan your time in advance.
Ensure that there are sufficient funds and Gas fees prepared in the wallet.
2. Quick purchase of tokens
When the token is launched, go to the Alpha page and click 'Quick Buy.'
On the purchase page, select the amount you want to purchase (e.g., 0.5 SOL or 0.1 ETH).
Click to confirm the purchase, and the system will automatically adjust the slippage to ensure the transaction is completed smoothly.
After submitting the transaction, wait for on-chain confirmation (usually takes a few minutes).
Notes:
Slippage refers to the difference between the transaction price and the expected price; the system will automatically optimize to avoid MEV (Miner Extractable Value) issues.
After the transaction is completed, the tokens will be automatically deposited into your Web3 wallet.
4. Selling tokens
Currently, the Binance Alpha platform does not provide a direct selling feature, but users can conduct on-chain trading of tokens through the Web3 wallet. Here are the specific steps to sell tokens:
Open the Web3 wallet and go to the transaction page.
Select the token you want to sell from the top, and select the token you hope to receive (e.g., BNB or USDT) below.
Example: If selling KOMA tokens, select KOMA above and BNB below.
Click to authorize the token, and confirm the sale after completing the authorization.
Submit the transaction, ensuring there are enough Gas fees in the wallet.
Tips:
A Gas fee for on-chain transactions must be paid during sales, so please prepare enough native tokens in advance.
If the token has insufficient liquidity, it may lead to transaction failures or significant price fluctuations.
5. Common problems and precautions
1. How to ensure transaction security?
Properly keep the mnemonic phrase of the Web3 wallet, and never disclose it to others.
Ensure that the wallet address is correct to avoid asset loss due to address errors.
Before participating in any transaction, fully understand the background and potential of the token project.
2. Why did the transaction fail?
Insufficient Gas fees in the wallet: Please ensure that you have enough native tokens to pay the on-chain transaction fees.
Slippage too high: Try adjusting the slippage settings or wait for market fluctuations to decrease.
3. How to view the tokens purchased?
Open the Web3 wallet and you can view the balance and transaction history of purchased tokens on the assets page.
Summary
Through the Alpha platform of the Binance Web3 wallet, users can experience potential projects in the Web3 ecosystem in advance. Here are the key steps for participation:
Update the Binance APP to the latest version (version 2.92 or above).
Create a Binance Web3 wallet and properly back up the mnemonic phrase.
Prepare funds (e.g., 1 SOL, 0.05 ETH, 0.1 BNB).
Wait for the token to launch, and quickly purchase through the Quick Buy feature.
Buy tokens.
The Binance Alpha platform provides users with a great opportunity to explore early Web3 projects, but it also comes with certain investment risks. Please operate cautiously and ensure that each transaction is safe and accurate.
The Musk-themed puppy, as one of the strongest concepts on the Ethereum chain, is emerging with enormous future development potential and may become the next phenomenon in cryptocurrency like Shiba, which is worth close attention and in-depth research from investors.
