To earn $100 a day on Binance, you need solid knowledge of the cryptocurrency market, patience, and a clear strategy. Below are detailed methods that you can apply, depending on the level of risk you can accept.
1. Spot Trading (Immediate Buy/Sell Trading)
1.1. Buy Low, Sell High
Strategy: This is the most common method in cryptocurrency trading. You buy a cryptocurrency when its price is low and sell it when the price rises to earn a profit.
How to do it: First, you need to research the market to understand the factors that affect the price of cryptocurrencies, such as news, policies of countries, or market demand.
Timing: To trade successfully, try to buy when the market is down and wait for the price to recover to sell. This requires you to be patient and closely monitor the market.
1.2. Swing Trading
Strategy: Swing trading is the method of seeking profits from the market's ups and downs over a longer period, from a few days to a few weeks.
How to do it: Look for market trends by analyzing price charts and technical indicators such as MACD, RSI. This method helps you avoid strong market volatility in the short term.
Benefits: This strategy is less risky compared to day trading, as you do not need to continuously monitor the market.
1.3. Day Trading
Strategy: Day trading is the method of buying and selling within the same day. This requires high concentration and continuous market monitoring.
How to do it: With this method, you need to use technical indicators such as Bollinger Bands, RSI, and candlestick patterns to find entry and exit points.
Benefits and risks: This is a high-risk strategy because you have to make quick decisions. However, if successful, you can earn good profits in one day.
2. Binance Earn (Savings and Staking)
2.1. Flexible Savings
Strategy: You can deposit cryptocurrencies into Binance Earn and receive interest over time. This method is suitable for those who want to hold cryptocurrencies long-term while still earning profits.