Can you also buy and trade in crypto fan tokens? Yes, you can. There are several fan tokens that can be traded. Most fan tokens are special tokens from football clubs. Most of these football related fan tokens can be traded on Binance . For example, the tokens of Paris Saint Germain, Manchester City and FC Barcelona, but also the Juventus Fan Token can be traded on Binance.
These are of course the tokens of the bigger clubs. There are also tokens from smaller clubs, not all of which can be traded on Binance. For example, you have the Sint-Truidense Voetbal Vereniging Fan Token, Fortuna Sittard, and the Apollon Limassol Fan Token that can only be traded via Chiliz.
Football clubs are of course not the only organizations that have fan tokens. For example, Aston Martin Cognizant, the Formula 1 racing team of Aston Martin and the e-sports team Team Vitality, also has its own fan token. You can trade this token through Chiliz. So you can certainly trade in fan tokens, but how do you do this? We’re going to look at that now.
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How do you buy a fan token? (Paris Saint Germain fan token via Binance)
Who knows, you may be completely convinced by now and want to start trading in crypto fan tokens. It is certainly possible to make big profits in crypto fan tokens, although it is of course not guaranteed.
An example is the crypto fan token of Paris Saint Germain. This token was once launched on the market for exactly €5. This happened on June 12, 2020. At the time of writing (August 31, 2021), the coin is worth close to $30 and has once been worth $40. That is a return of 800%.
However, it is of course no guarantee that a crypto fan token will increase in value. For example, you also have the OG Fan Token. OG is an esports team. The e-sports team token was once launched for just over $6 and is now worth ‘only’ about $5.80.
So now we’re going to look at how to buy a fan token. For the example, let’s look at the PSG Fan Token, as it is the single largest fan token in both price and market cap. After the transfer of Lionel Messi became a fact, the token suddenly rose enormously. So you see that these kinds of big events around a club can actually ensure that the fan token achieves very nice results.
You can buy the Paris Saint Germain fan token via Binance, Gate.io and Chiliz and many more platforms. For now, let’s take a look at how you do on Binance. Basically it works like any other coin:
- You log in to your Binance account. If you don’t have an account you will have to create one.
- You then make a choice from which trading pair you want to use. In the case of the PSG Fan Token it could be: PSG/ USDT , PSG/ BUSD and PSG/ BTC . We will continue with PSG/USDT for now.
- You will have to buy a certain amount of USDT via Binance. This is the amount you want to put into the PSG Fan Token.
- Now go to the trading pair PSG/USDT and buy PSG with your USDT.
Congratulations! You own your first real fan token. Most people will probably know that PSG has one clear goal: to win the Champions League. If they succeed, this could just give a nice reflection on the price of the PSG Fan Token. However, this is not financial advice, always do your research yourself before investing in anything.
Why should you buy a fan token?
You can buy a fan token for several reasons. We now take a closer look at some of these different reasons.
First, of course you can do it because that way you feel more connected to the brand whose fan is token. Fortuna Sittard fans, for example, will love being able to tell their fellow fans that they own Fortuna Sittard Fan Tokens. That way you are just a little more connected to ‘your’ club.
A second reason for buying a fan token can of course be because you want to benefit from the advantages that come with having a fan token. These could be the benefits we mentioned earlier, for example voting rights, exclusive access or merchandise, but who knows what fan tokens will bring in the future. Fan tokens are still relatively new and there is therefore a good chance that all kinds of new utilities will be added to fan tokens in the future.
The fact that new things will probably be added to fan tokens can also be the third reason to buy a fan token: you see potential in it . Maybe you think that fan tokens are going to be the new big thing in crypto. If you think this, then it can of course be smart to invest in it. It could of course be that the price of the fan tokens will increase as a result of the additions.
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