Binance has earned its place as the largest cryptocurrency exchange thanks to its low trading fees and wide range of trading options. The platform offers easy-to-use instant buying and a suite of advanced trading tools, including futures and options. Binance now supports over 350 cryptocurrencies. Let’s explore a few ways to grow your cryptocurrency reserves by trading on Binance.
1) Spot Trading
On Binance, you have two spot trading options. The exchange’s Instant Buy feature is newbie-friendly, offering a simple point-and-click interface to buy, sell, and exchange cryptocurrencies. While other platforms offer similar options, Binance makes simple trading more affordable with lower fees and tighter spreads.
Alternatively, you can also trade on Binance with Advanced Trading. Advanced Trading has the lowest trading fees you will find anywhere. In addition to market orders with immediate execution, Advanced Trading also allows you to set limit orders and automatic stop loss or take profit orders.
Binance Advanced Trade has a fee of just 0.1% for both maker (limit) and taker (market) orders. Binance also offers additional discounts on USDC pairs and fees paid with BNB.
2) Futures Trading
Futures trading allows you to bet on the future price movement of a crypto asset. Binance offers two main types of futures trading: expiry futures and perpetual futures.
Expiring futures are centered around a settlement date. Depending on the type of futures contract you purchase, the trade is settled in cryptocurrency or USDT.
However, Binance also offers perpetual futures contracts settled in USDT, USDC, or cryptocurrencies. Unlike expiring futures contracts, perpetual futures do not expire and you can keep your trades indefinitely. In short, unlike expiring futures, there is no cap on your profit potential. Futures trading supports up to 50x leverage for certain trading pairs. More on leveraged trading later.
3) Options Trading
As the name suggests, options trading gives you the option to buy or sell at a specific price. Binance offers options trading on five major cryptocurrencies, including BTC, ETH, and XRP.
Options trading is best suited for advanced traders. However, Binance now offers simple options for beginners. You can choose the direction and price to buy a call or put option in just a few clicks.
Binance Simple Options
4) Trading robots
What if you could automate your trading? Binance offers tools to automate your trades using trading bots. For example, if you want to dollar-cost average your BTC purchases, you can use a bot to build your position over time and navigate the ups and downs of the market.
However, Binance offers more advanced trading bots that allow you to trade within a range or based on technical buy/sell indicators. You can choose a bullish or bearish bot or a grid bot that trades within a specified range. Binance even offers an arbitrage bot that automatically trades based on the difference in funding fees for futures trading.
5) Copy Trading
You don’t need to be a trading expert to trade profitably on Binance. The platform offers copy trading, which allows you to follow the moves of successful traders. This option is available for a fee. You will share 10% of the profits with the lead trader. However, you get to keep the remaining 90% and benefit from following an experienced trader.
Copy trading allows you to learn the rules of trading while minimizing the mistakes that new traders often make. Study each step and develop a strategy that you can use on your own later.
6) Leveraged Trading
Margin trading is when you use your assets as collateral to gain a larger market position. For example, you can trade $500 with 5x leverage using $100 in margin (collateral). Binance offers leverage across many of its trading options, including spot and futures trading, allowing you to maximize your profit potential on every trade. The choice of cross-margin (all assets) and separate margin gives you the freedom to choose which assets to leverage.
7) Binance Exchange
Instantly convert supported cryptocurrencies from Crypto A to Crypto B. Binance Convert supports both limit and market orders, making swaps a breeze. Keep an eye out for promotions like the recently concluded $12,000 USDC giveaway. Binance Convert provides a guaranteed market price for your trades at no additional fees. This powerful tool also supports all cryptocurrencies on the platform, simplifying trades between assets that don't share trading pairs.
8) Peer-to-peer (P2P) transactions
Peer-to-peer trading allows cryptocurrency traders to trade directly with each other without using Binance as an intermediary. This decentralized trading option provides more privacy and may allow you to use other payment methods that Binance itself does not support. There are over 800 payment methods to choose from.
Many traders use P2P to fund their trading accounts with USDT, although you can also choose to buy BTC, ETH, or even SHIB. A user rating system and statistics on completed transactions help ensure that P2P trading is safer.
How to earn income by saving and holding on Binance?
Binance ETH StakingBinance has simplified its yield products, bringing together most of the products you need under the "Binance Yield" tab. You can enjoy higher yields through longer commitment periods or by exiting products as needed.
9) Staking
You’ll find the option to stake ETH under the Yield tab. The best way to find staking options is to drill down by asset type. Binance makes staking an easy and affordable way to earn yield on ETH, and you can stake any amount, making it easy for investors of all sizes to grow their holdings.
10) Savings
Binance also offers savings products that pay out yields. Behind the scenes, the process is very similar to a bank. People deposit money into savings products, and Binance uses those funds to issue loans to leveraged traders. Strict management of leverage amounts and margin helps ensure the safety of deposits.
11) Double investment
Binance's dual investment strategy provides a simple way to profit from the price differences of paired assets. Switch to the beginner's guide for a simplified view. Dual investment provides a simple way to bet on future prices without the complexity and risk of futures trading.
How to Profit from DeFi on Binance
Decentralized Finance (DeFi) is expected to grow to over $37 million globally by 2028. Binance also offers ways to make money through DeFi protocols. In some cases, you will leave the platform.
12) Pledge
Binance launched the BNB token in 2017, creating a new blockchain capable of running Ethereum Virtual Machine (EVM) applications. The network has evolved over the years and is now known as BNB Smart Chain (BSC). Like Ethereum, BSC uses proof of stake to validate transactions. You can buy BNB on Binance and then stake BNB on the chain to earn up to 5.27%.
13) Binance Web3 Wallet
Binance also offers a web3 wallet that makes it easy to navigate the world of decentralized applications (dApps). Swap or provide liquidity on PancakeSwap or Uniswap. Lend or borrow on Venus, or explore countless yield opportunities on Beefy Finance, all with just a few clicks on the Binance Web3 wallet. The web3 wallet supports more than 70 chains in total, including Ethereum, BNB, and even Bitcoin.
14) Binance DeFi holding rebates
Just look for DeFi staking opportunities in the Yield tab on Binance. Options range from staking to secure proof-of-stake networks to staking decentralized protocol smart contracts to earn yield. Options vary based on the token you choose and the length of your commitment.
15) DeFi Yield Farming
Binance’s Yield tab also offers DeFi yield opportunities that allow you to earn crypto on Binance. These options are not always explicitly labeled as DeFi, but many of the highest yields come from yield farming protocols. The biggest advantage is that you don’t have to find and vet opportunities yourself, nor do you need to secure your own crypto wallet to access dApps. Binance does the homework for you.
More Ways to Earn Crypto with Binance
Binance Referral Program
Need more information? Let’s discuss more ways to earn crypto on Binance, from rewards debit cards to airdrops to crypto mining. There’s even a referral program that lets you earn Bitcoin or a percentage of trading fees for qualified referrals.
16) Binance Debit Card
Binance Card offers crypto cashback rewards for everyday purchases. Reward amounts vary based on BNB holdings. The card supports 14 cryptocurrencies, allowing you to convert your assets into your local currency at any time for purchases. Binance Card is available in over 30 countries worldwide, with more coming soon.
17) Megadrop
Lock your BNB on Binance to get the free airdrop. The process involves two simple steps. Lock your BNB in Simple Earn. Then, use the Binance Web3 wallet to complete the web3 tasks on the Megadrop page. This step increases your rewards. Binance will then send you airdrop tokens based on your Megadrop score.
18) Binance Launchpad
Many of Binance's profit opportunities focus on locking up BNB tokens. Binance's token issuance platform Launchpad also uses a similar strategy, requiring users to lock up BNB or FDUSD to earn tokens issued by new projects. Follow the Binance Launchpad page to learn about new opportunities. Recently issued projects include IO, NOT, REZ, and OMNI. SEI is also issued through the Binance issuance pool.
19) Cryptocurrency Mining
If you want to try your hand at cryptocurrency mining, you can join the Binance Mining Pool. Ten currencies are supported, including Bitcoin, Ethereum Classic, and merged mining for Litecoin and Dogecoin. You can also find options for currencies that can be mined using your CPU, such as Ravencoin. Binance offers tutorials to help you get started with each currency, and you can keep an eye on your earnings through the mining dashboard.
20) Cloud Mining
Let's face it: we don't all own dedicated mining hardware, and most of us don't want to deal with the noise and heat issues associated with mining. Enter Binance Cloud Mining. With Cloud Mining, you can purchase hashrate from leading cloud mining providers and receive mining rewards in your funding wallet. You can choose the amount of USDT you want to spend and how long you want to mine. This allows you to assess your profitability without any long-term commitment.
21) Referral Program
You can also earn crypto on Binance by referring friends. You can earn up to 40% commission on trading fees for referrals who register and trade on Binance. You can choose between Lite referrals (free Bitcoin) or Standard referrals, which earn a percentage of trading fees. To receive the referral bonus, the referred user must complete a Kow Your Customer (KYC) identity verification.
22) Binance Academy Learn and Earn
Earn free crypto by learning about new crypto projects. Be one of the first to own tokens of newly released projects that want to increase awareness. Recent bounty programs include projects like PowerPool (CVP), DODO, Nervos (CKB), and Portal (PORTAL). However, the Learn & Earn portal also offers a wealth of information on established blockchains like Bitcoin or Solana, as well as advanced trading topics like futures trading. Keep an eye out for new opportunities to earn money.
