Earn money on Binance: 5 simple and clear ways you should know 💰
Many people believe that the only way to make money in the crypto world is by buying low and selling high. And while trading is a crucial part, Binance offers many more options to generate income, even passive.
Here I explain 5 simple ways for your cryptos to work for you.
1. Trading (Active) 📈
This is the most well-known method. Buy and sell assets in the spot market or use futures and margin trading for more advanced positions. It is a high-risk path and requires study, but it can offer great rewards.
2. Staking (Passive) 🔒
The most popular way to generate passive income. You simply lock your cryptocurrencies for a time to help secure the network, and in return, you receive a percentage of interest. It’s like putting your cryptos in a "fixed term" that pays you with more cryptos.
3. Launchpool and Launchpad (Passive) 🚀
Would you like to be among the first to obtain tokens from a new project? With Launchpool, you can lock your BNB or other coins to farm tokens from newly launched projects. It’s a way to earn free cryptos with no risk.
4. Crypto Loans (Passive) 💵
If you have cryptocurrencies that you are not using, you can lend them on Binance to other users who need them for trading. You earn interest on the loan, and Binance takes care of everything. It’s an option to monetize assets that would otherwise be inactive.
5. Referral and Affiliate Program 🤝
Do you have friends or a community? You earn a commission on the trading fees of each person who registers on Binance through your referral link. If you have an audience, this is an excellent method to generate a steady stream of income.
As you can see, there are options for all risk profiles. The most important thing is to research each method before investing.
Tell me, which of these ways to earn money do you use the most on Binance?