Yes, you can do so by creating a
short position. Depending on the market availability of the altcoin, you can create a short position via perpetual contract, futures contract, or selling spot using margin, available in many centralized exchanges and DeFi platforms.
Could you give an example of a way to profit from $BNB collapse (assuming it follows $FTT fate), perhaps?
The easiest way would be to create a short position on BNB/USD perpetual market, which is available in many reputable exchanges like
Bybit and
OKX (just avoid Binance if you're expecting it to collapse). To get started, create an account on the exchange, complete the KYC, and deposit some collateral, usually in the form of USDC or USDT.
Once your account is set up, go to the BNB perps market and start trading. Determine your desired selling price and position size, and then click on the short/sell button. Shorting is essentially borrowing the token, selling it, and later buying it back at a lower price. The profit will come from the difference between the selling and buying price. For example, shorting 1 BNB at $300 and closing it at $290 will give you a $10 profit, minus trading fees.
It's worth noting that trading derivative contracts and margins can be complicated, so I would encourage you to familiarize yourself with the concept and risks before jumping in with real money. I think Binance actually has some of the best learning materials for this
https://www.binance.com/en/support/faq/a-beginner-s-guide-to-futures-trading-website-360039304272