It is the largest cryptocurrency trading platform in the world in terms of trading volume. It was founded in 2017 by Chinese-Canadian programmer Chatping Zhao.
It started its official activity in China, but Chinese government restrictions on digital currencies prevented it from operating freely, which led to it changing its headquarters to Malta and Jersey.
Today, this platform allows trading in hundreds of cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), BNB, and other digital currencies, as well as other financial services such as savings, cloud mining, and staking.
2/ Profit opportunities: Binance offers many profit opportunities, whether through trading or passive investment.
_Investing in savings programs
*Flexible or fixed interest: Digital currencies, whether Bitcoin, digital dollars, BMB, or Solana, can be deposited into flexible accounts with a daily interest of up to 10% per year, or they can be deposited into fixed accounts with a higher interest for a period of time specified by the platform.
*Staking: freezing digital currencies to support blockchain networks such as ADA, DOT, and ETH 2.0 and obtain rewards of up to 15%.
*Participate in Megadrop: A new initiative combining the Web 3 wallet and Binance Earn services that allows users to gain early access to emerging Web 3 projects before they are listed on the stock exchange.
*Lunch Poll Campaign: This method is used before the project is launched for trading. You can earn a portion of digital currencies for free before the project is launched by staking BNP or Ethereum coins, with a percentage of up to 10% being distributed to the participants in the campaign. Free distribution of digital currencies.
* Cloud mining: Subscribing to cloud mining contracts via the Binance platform to earn profits from mining various currencies, most notably Bitcoin, with returns based on the currency price and the efficiency of the contract concluded, without the need for hardware.
* Promotions and airdrops: Binance sometimes distributes various cryptocurrencies for free, provided that they are received by holding a specific currency, such as BMB or another currency, or by participating in other specific events, such as distributions to pioneers through Web 3 projects via Megadrops.
*Referral Program: You can earn 40% of the trading fees through users of the Binance platform who register through your link on the Binance platform. You get a commission for every person who enters through your link and trades on the Binance platform.
* Binance Credit Card: You can get 8% if you use BMB coin through daily payment on your daily purchases, and it is called cashback.
3/ Tips
Diversify your investments between saving, staking, and participating in new projects after studying them.
_Regular follow-up, which is done through the promotional offers section on the Binance platform, to benefit from various limited opportunities.
Risk management: Avoid investing all your money in one way while understanding the lock-in conditions in staking.
4/ In conclusion: Although this investment generates profits, entering into it has many risks due to the fluctuations in the prices of digital currencies. In the blink of an eye, the price of the currency can rise or fall, which is also vulnerable to hacking. Although the Binance platform is safe in this regard, it was hacked in 2019 and 7,000 Bitcoins disappeared from it, but the affected traders were compensated through SAFU funds.
In the end, passive investing may be the best option for beginners in the field of trading and to avoid the daily pressures of trading.