In recent years, cryptocurrency has gained currency in modern finance. While many advantages come with trading or holding cryptocurrency, there are others way you can earn in the crypto business.
If you’re ready to earn more in your crypto business, this article is for you. While there are many trading platform, Binance has proven to be one of the best trading platforms in recent years. Using a Binance trading bot, for instance, you can earn as many tokens and digital assets as possible. In fact, you can diversify your portfolio.
It doesn’t matter if you’re a starter or an expert; the following ways have proven helpful of you want to earn on Binance:
It’s a fact that the cryptocurrency market is volatile. Sometimes, the losses that come from this volatility can be discouraging for starters and even experienced crypto traders. However, people can earn on Binance by trading futures.
Futures trading has to do with being predictive—you basically predict the market value in the future. One of the advantages of trading futures is the choice of leverage, which allows you to lock up only a certain amount of capital. Furthermore, Binance user data shows that revenue on the platform through futures is on the rise.
2. P2P Trading
Peer-to-peer trading, otherwise known as P2P, is an effective way to earn on Binance. The P2P exchange is a simple cash-crypto exchange designed to flow between buyers and sellers using fiat currency, the government-backed legal tender, otherwise known as local currency.
Using P2P, you can exchange your crypto for local currency. It’s a simple process: you post your crypto offer, price, and preferred payment method. Then the buyer accepts your offer and completes the payment.
You can earn on Binance by using this platform as a result of the following perks:
- Low transaction fees: The transaction fees on Binance P2P are the lowest and most friendly. This will allow you to earn more from your trades.
- Choose a payment method: On Binance P2P, you’ll have numerous choices as for the payment method. There are over 100 payment methods, from which you can choose what best suits your preferences.
- Sale at preferred prices: Binance P2P gives you the freedom to create your offers and preferred prices. This freedom also gives you control over your business.
3. Binance Staking
Crypto staking creates another opportunity for crypto holders to put their cryptocurrencies to work. This means locking up your crypto on the blockchain while it promotes blockchain security.
Staked crypto is put to work on the blockchain, while owners of the staked crypto get rewarded over some time. Staking crypto comes with mutual benefits shared between the crypto holders and the blockchain. While the owner of staked crypto gets high-interest rates for staking, the blockchain network gets improved security.
Start your staking journey by taking these steps:
- Buy a cryptocurrency that runs on PoS: Not all cryptocurrencies run on Proof-of-Stake; however, you can buy the ones that run on PoS, the mechanism adopted to ensure integrity on the blockchain. Ethereum, Solana, and Polkadot are examples of coins you can stake.
- Get a crypto wallet: Binance is a good exchange platform on which you can get a crypto wallet to transfer your crypto.
- Join a staking pool: Crypto traders use staking pools to combine their staked cryptocurrencies for a better chance of earning rewards.
Binance has made it possible ro stake from your wallet and get rewarded. Some staking options include DeFi staking, ETH 2.0, Binance Vault, and Locked Staking. Binance Staking is an excellent way to start earning on Binance.
4. Binance Launchpool
Launchpool is another way to earn on Binance. With it, you can retain your crypto in a launched pool, where you earn tokens. You can hold your BUSD, BNB, and other cryptocurrencies. You earn tokens for 30 days and trade them on the seventh day of earning.
It’s an easy process: if you’re using the Web version, you can go to Binance Launch pool, select the pool you want, and input the amount of tokens you wish to stake. If you’re using the Binance mobile app, go to Launchpad, click ‘stake now,’ and input the amount of token you desire to stake.
- Binance Savings
Binance Savings is a way of depositing your cryptocurrency on Binance while you get rewarded with interests. You can use Flexible Savings as your savings account and get interest on your deposited cryptocurrency. Locked Savings is also an option that promises higher earnings.
Binance is an exchange platform on which you can earn much more on your crypto business. While there’s high volatility and high-risk cases in the crypto business, Binance has provided ways for you to earn and profit