Well, Binance, why it's one of the best exchange platforms around the world. Because it is a platform that provides wealth for everyone, poor and rich alike; it just requires analysis, calculations, and intelligence.
It quickly became the leading platform in the world of cryptocurrencies for buying cryptocurrencies and wealth (oh!) or at least increasing wealth.
There is no need to use another platform, in fact, because you can do everything on Binance. And although it is a centralized platform, it is the only platform that "flirts" a lot with decentralized finance (whether in the form of tokens or by creating its own decentralized blockchain: Binance Smart Chain).
If Binance has become a giant among giants, it is mainly due to its continuous addition of new and more interesting features than ever. So, we can do many things now and I can understand why a complete beginner might not find their way. You can get lost because there are so many offers and that's where I come in.
And I know you, investor group, what matters most to you is knowing how to increase your capital. Was I wrong?
If so, this article (and the accompanying video) is dedicated to you.
Here, we will see all the possible ways to generate income from your cryptocurrencies on one platform. We will also not talk about trading and exchanges here. Instead, we will focus on other less-known (but often more profitable) methods.
Ways to earn cryptocurrency on Binance
It’s up to you to choose the option that suits you based on your available budget and the level of risk you are willing to take.
1. Tokens
Binance was one of the first platforms introduced in the crypto world, as you know.
So, you should know that there are two ways to stake on Binance. You can share 25 cryptocurrencies, open to everyone.
You should know that you can do two types of staking on the platform:
Flexible staking: you can withdraw your capital at any time. The yields are lighter than locked staking.
Locked staking (higher yields): the principle is the same except that your cryptocurrencies will be locked for a period of your choosing. For example, if you set 7 days, you won’t be able to withdraw your cryptocurrencies during that time. The longer the lock period, the higher your yields. You can earn up to 16%.
The decentralized finance staking: this is the big news. You can share some DeFi tokens at interest rates of up to 60% using BNB or USDT or DAI or BUSD.
2. Earn interest with Binance savings
Here, we have pure savings and this may be the simplest way to grow your cryptocurrencies. It’s also less significant in terms of yield. This is a similar option to the BNB vault.
Again, as with staking, there are different types of products depending on how long you will lock your money:
Flexible savings: you can deposit and withdraw your cryptocurrencies at any time.
Locked savings: one can deposit cryptocurrencies for several days and achieve higher interest.
. Farming on Binance Launchpool!
Did yield farming seem complicated to you? There, you will see that everything has been simplified.
There, the principle is to deposit BNB (Binance's native token) and BUSD (a stablecoin based on platform dollars and other cryptocurrencies in the Binance space).
Therefore, the launch pool was an immediate success as soon as it was launched. Indeed, it satisfies with its simplicity. You just have to deposit tokens in the liquidity pool.
Binance Launchpool, launched earlier this month, allows you to create tokens for new projects simply by depositing BNB in the liquidity pool.
Right now, we can win on Clay for example. Feel free to go back to the tab to discover other tokens. Binance regularly offers new deals.
You can refer to the guide to learn how to farm on Binance LaunchPool.
2. Providing liquidity through Binance Liquid Swap
Now it's time to talk about a new service, Binance Liquid Swap. There, there is another liquidity pool, an automated market maker (AMM). This is the first time we see such a DeFi-specific service on a centralized exchange platform.
Many liquidity pools through which one can trade crypto assets with minimal price slippage, thus earning a share of the interest generated by the pool. Here again, among the available pairs, you will have a part that will be in stablecoins (DAI or BUSD or even USDT) with another part in volatile tokens.
Binance Liquid Swap is a trading platform through which users pool their tokens to provide instant liquidity. You can buy, trade, and stake cryptocurrencies.
When you put money on Binance Liquid Swap, you get stable prices and low transaction fees for trades made in instant swaps. However, prices and fees change while you are trading or adding or withdrawing funds from the pool. Here are the available trading pairs:
What do we gain when we participate? Well, you earn in proportion to the funds you deposit transaction fees.