In a world dominated by volatility and risk, many are looking for ways to generate income from cryptocurrencies away from the maze of daily trading and speculation. The Binance platform, as the largest exchange in the market, not only offers trading services but is a complete ecosystem that provides users with a variety of opportunities to grow their savings in a semi-passive way. If you are looking for ways to achieve income exceeding $10 daily without directly buying or selling currencies, here is the roadmap.
Important note: Achieving this goal ($10/day = $300/month) largely depends on the initial capital and the risk you are willing to take. There are no 'magical' methods; rather, they are strategies that require patience and understanding.
Main strategies to generate income:
1. Staking (Staking to earn yields):
This is the most common and semi-passive way to profit.
In which you 'lock' or freeze your digital coins to support the security and safety of the blockchain network, in return, you receive periodic rewards.
How does it work? You buy a specific coin (like BNB, ETH, USDC, DOT, SOL...) and place it in the dedicated storage program on Binance.
Return rate: Varies according to the currency and lock duration. It can range from 1% to 20% annually (APR).
To achieve $10 daily ($300 monthly):
Let's assume your average annual return is 10%.
Using the simple interest formula: Required amount = (desired annual income) / (rate of return)
Required annual income = 300 * 12 = $3600.
Approximate required capital = 3600 / 0.10 = $36,000.
2. Earn Programs (Flexible and Fixed Savings Programs):
Similar to bank savings accounts but with higher returns. Binance offers two options:
Flexible: You can withdraw your funds at any time, but the returns are lower.
Fixed: Your funds are locked for a specified period (7, 30, 90 days) and you receive a higher return.
These programs include Staking and other techniques used by Binance to generate returns for users. The account is similar to the storage program in terms of the required capital.
3. Launchpool (Launch Program):
One of the best features on Binance. Here you can 'farm' your coins (like BNB or stablecoins USDT, BUSD) to earn new project coins for free before they are officially listed.
How does it work? You allocate a portion of your coins to a specific Launchpool program. For usually 30 days, you receive rewards from the new currency daily (sometimes every hour).
Profit potential: The returns here can be very high, especially if the new currency is in high demand. During active periods, participating with a smaller capital can easily generate more than $10 daily.
Key: Higher returns are often reserved for those who use BNB. Holding and staking BNB is a strong incentive for profit in Launchpool.
4. Liquidity Farming:
This method is more complex and carries higher risks (impermanent loss). You deposit a pair of currencies (like BNB/USDT) in a 'liquidity pool' to facilitate trades on the Binance DEX or through Binance Liquid Swap. In return, you receive a portion of the trading fees and earn reward coins.
Yield: The yield can be very high (sometimes 20% - 50% APR), but it fluctuates.
Risk: The main risk is 'impermanent loss,' which occurs when the prices of currencies in the pair change significantly compared to when you deposited them. This suits advanced users who understand the market well.
5. Participate in competitions and airdrops:
Binance continuously launches competitions and activities for users who hold BNB or perform certain tasks (like watching a video, completing a quiz). The rewards here are not guaranteed daily, but they can add significant extra income over the month.
Summary:
Achieving $10 daily on Binance without trading is completely possible, but it's not magical. It primarily depends on:
Invested capital size: The larger the capital, the lower the return required to achieve your goal, and the greater your financial security.
Maximizing Binance offers: Especially Launchpool and staking BNB.
Risk management: Understand that high returns come with potential risks, and diversify your strategies accordingly.
Start with what you can, and focus on investing the profits you make to achieve compounding effect, and this will gradually bring you closer to your goal and then exceed it.