BINANCE is one of the largest cryptocurrency exchange platforms in the world. In addition to being used to buy and sell cryptos like Bitcoin (BTC) or Ethereum (ETH), Binance also offers various ways to earn money. Here are some methods you can try:
1. Crypto Trading
Trading is the most popular way to gain profits on Binance. The method is to buy crypto when the price is low and sell it when the price is high. There are two main types of trading:
Spot Trading: Buying and selling crypto directly on the spot market. For example, you buy 1 BNB for Rp500,000, then sell it when the price rises to Rp600,000, making a profit of Rp100,000.
Futures Trading: Trading with leverage (borrowed funds) to increase potential profits, but the risks are also higher. Suitable for those who are already experienced.
Tip: Learn market analysis, such as price charts and trends, before trading. Don't invest heavily if you're still a beginner.
2. Staking
Staking is storing certain cryptos on Binance to support its blockchain network, and you will receive rewards in the form of interest. It's like saving in a bank, but with higher returns.
How It Works: Select the "Earn" menu on Binance, then choose "Staking". You can stake coins like BNB, USDT, or ETH for a certain period (flexible or locked).
Benefits: Annual percentage yield (APY) can start from 1% to 20%, depending on the coin and duration.
Example: You stake 100 BNB with an APY of 5% for 1 year, you could get an additional 5 BNB.
3. Binance Launchpool
Launchpool allows you to earn new crypto tokens for free by staking assets you already own.
How It Works: Stake BNB, BUSD, or other coins on Launchpool. After a certain period, you receive new tokens that can be sold or held.
Benefits: Without additional capital, you can receive tokens that have the potential to increase in value.
Example: Staking 50 BNB in Launchpool for 30 days can give you new tokens worth dozens of dollars, depending on the project.
4. Binance Earn (Flexible Savings)
Similar to staking, but more flexible. You can keep assets in "Flexible Savings" and withdraw them anytime.
How It Works: Go to the "Earn" menu, select "Flexible Savings", then save coins like USDT or BTC. You will earn daily interest.
Benefits: Suitable for those wanting passive income without locking funds for too long.
5. Referral Program
Binance has a referral program where you can invite friends to join and earn commissions.
How It Works: Get a referral link from your account, share it with friends. When they trade, you earn a percentage of their transaction fees.
Benefits: Commissions can be 20%-40% of your friends' trading fees, depending on the amount of BNB you hold.
Example: Your friend trades $1,000 with a fee of 0.1% ($1), you can earn $0.2-$0.4 per transaction.
6. Buying and Selling via P2P
P2P (Peer-to-Peer) allows you to buy crypto cheaply from other users and sell it at a higher price.
How It Works: Open the "P2P" menu on Binance, choose a seller with the best price, pay via local bank (for example BCA or DANA), then sell the crypto when the price rises.
Benefits: You can profit from price differences without additional costs.
Important Points to Remember
Risk: Crypto prices are very volatile. You can make a lot of profit, but you can also lose. Don't invest more than you can afford to lose.
Security: Enable 2FA (Two-Factor Authentication) on your account to protect your funds.
Knowledge: Learn the basics of crypto before starting, for example from Binance Academy.
Initial Steps
1. Create an account on Binance and verify your identity.
2. Deposit funds (can be via bank transfer or P2P).
Choose the method above that suits your goals.
Start with a small amount while learning.