How to Make Money Fast on Binance

Categories: Binance
Posted: June 19, 2021

You can currently buy cryptocurrencies on Binance in many different ways. Whether you are trading or using our Buy Crypto page, you can find profitable crypto opportunities in many ways. But these opportunities are not just limited to purchasing.

We also offer many different options for you to grow your crypto savings even when you are not trading. With Binance, you have the opportunity to use your tokens in different activities and services that we regularly make available on the platform. You can use these seven ways to earn crypto without trading on Binance

1. You can Farm New Tokens by Holding BNB, BUSD and Other Crypto Coins on Binance Launchpool

Earlier this month, we launched Binance Launchpool, which allows you to earn crypto tokens from newly launched projects by depositing your BNBs in just one liquidity pool. You can currently earn Bella Protocol (BEL) and Wing (WING) tokens by farming in Launchpool with some of your BNBs. 

2. Grow Your Stable Coin Accumulations with Binance BSwap

Another liquidity pool product we recently launched is Binance BSwap. BSwap is an automated market maker (AMM) pool product, the first of its kind in a centralized exchange. It hosts different liquidity pools that allow its users to trade their crypto assets with a minimum price shift and gain a share of the returns generated by participating in the liquidity pool.

3.Stack Your Tokens to Benefit from Binance Staking

We have been supporting the staking mechanisms of various cryptocurrencies on our platform since 2019. To put it in the simplest form, when you hold (stake) your tokens on Binance, you can automatically benefit from the benefits of earning your crypto token from staking programs. With Binance Flexible Staking, you can earn extra tokens from 25 supported cryptocurrencies without any obligation.

4. Join Binance Locked Staking With Your Tokens For Higher Return

You can also use Binance Locked Staking and lock your tokens for as little as seven days to get higher returns. You can use one of six different locked staking options and benefit from high annual return rates of up to 16% by participating in project staking mechanisms.

5.Join Defi Staking

With the development of Defi (decentralized finance), you can also take advantage of the earning opportunities offered in this area for your tokens. For example, Binance Defi Staking has launched a variety of products where you can earn high annual returns of up to 60% using BNB, USDT, BUSD, DAI and other tokens to be added soon.

6.Keep Your Crypto In Your Binance Account To Benefit From Airdrops

Right now, when you keep your BNBs in your Binance account, you can take advantage of our $ 16 million SXP token airdrop program exclusive to BNB holders on Binance. This is a 12-week program where you can earn SXP tokens each week in direct proportion to your BNB savings. You can find more information about the program here. We also aim to offer more opportunities like this in the future.

7. Spend Using Your Binance Card (Currently Available in Europe)

We add a new meaning to the saying, "You need to spend money to make money". With Binance Card, which was recently launched in Europe and will soon be available in more regions, you earn BNB rewards when you use your card to spend at thousands of supported merchants worldwide. The repayment rate starts at 1%, and the more BNB you hold in your Binance account, the higher the rate can reach 7%.

As you can see from the examples above, you can earn more assets on Binance whether you trade or not. All you have to do is buy crypto and join one of the many options we offer. 

Binance Ways to Make Money

Binance exchange is the most used cryptocurrency exchange both in our country and in the world. We can say that it has differentiated from many competitors in terms of volume and the cryptocurrencies it lists. We can say that the reason why it is preferred so much is that its commission rates are low, it offers different earning methods, and there are many options. So how can you make money with Binance? In this article, we will talk about ways to earn Binance money in detail.

Binance Monetization

We have listed how you can make money with Binance above. However, this post is for those who trade more and want to earn income with leveraged transactions.

If you want to make money by trading, you need to have a specific strategy. First of all, we can say that we do not know which crypto money rises according to what. An altcoin can rise above 100% even without any news rather than positive news. What do we have to do here? How can we make money in all circumstances?

First of all, this article is not investment advice. It contains a purely personal opinion. The best decision is always the one made by yourself. 

Average Upgrade Method

To apply this method, your investment capital must be slightly high. This strategy is especially ideal for those whose investment is in a backward position. Require practice on a long-term basis.

For example; Let's say you buy ten units of $ 100 from an Altcoin with a price of $ 10.

Altcoin price has suddenly dropped to $ 5. You apparently had a loss of half. In this case, an increase of at least 200% over 5 TL is required to reach the same position. Of course, it is difficult to expect a 200% increase. For this reason, it is the most logical option to buy ten more cryptocurrencies and reduce your average.

5 $ * 10 Pieces = 50 Dollars

Average Price: ($ 50 + $ 100) / 20 Pieces = $ 7.5. In other words, the coin cost, which was $ 10 at the beginning, was $ 7.5. Now instead of a 200% raise, the coin from $ 5 to $ 7.5 will take you to the starting level. So a 50% increase is enough. 

Creating a Road Map

One of the ways to make money on Binance is to have a strategy. In other words, before trading, you should determine how you will do this and what your investor character will be.

There is extreme volatility in the Bitcoin and Altcoin market. For this reason, you should determine when you will sell the coin when you increase and how much increase will be enough for you. Of course, this is valid for decreases.

You should be familiar with the words stop-loss and take profit. After you buy cryptocurrency, whatever price it drops in terms of the price you are sold or how much profit you increase. These tabs automatically apply for trade orders and aim to reduce your profit or loss.

Do not neglect to use stop-loss, especially if you are interested in leveraged transactions, i.e. futures.

Make Money with Binance Futures.

If you are trading on Binance, your path has definitely fallen on futures. It allows you to trade up to 125 times your money. Of course, saying 125 times is a dream. Because earning a profit with this high leverage is almost impossible.

In summary, you have the chance to trade from 2 times your money up to 125 times. However, the higher the leverage ratio, the higher your risk.

However, in leveraged transactions, we usually adjust the leverage level according to the price of the cryptocurrency you will receive. How so?

A coin with a price of 10 dollars can drop to 2-3 dollars at a time. Or it can go up to $ 20 at a time. However, Etherium, whose price is 1200 Dollars, cannot go up to 2500 Dollars or 10 Thousand Dollars at a time.

Based on this, it is always more logical to keep the leverage level low in coins with a high level of volatility. However, in cryptocurrencies such as Etherium, Bitcoin and Bitcoin Cash, which have low volatility, you can keep the leverage level higher than other coins. 

Trading Altcoin

Here I want to talk about a mistake that should be implemented and that new investors make a lot.

It never makes sense to buy a rising cryptocurrency. This is often a mistake made for fear that I will miss the rise. In other words, the next move of a cryptocurrency that is saturated to rise is experiencing a decline.

For example, Bitcoin went up to $ 40K. However, he did so with hesitation. In other words, at every exit point, there were people who sold and bought their profits. You can get your profit by selling when it goes up to 40 thousand dollars. It doesn't make sense to buy $ 40,000 here; it is always more reasonable to buy in the decline phase.