1. Optimize your Fees with BNB and VIP Levels (Beyond the Basics!):
👉🏻 Pay commissions with BNB (the obvious): Most people know that paying commissions with BNB gives you a 25% discount on spot trading.
👉🏻 What few maximize: Achieving VIP Levels with BNB for more discounts: It’s not just about paying with BNB but also holding BNB in your wallet. If you hold certain amounts of BNB and/or reach a specific trading volume, you move up to VIP levels (VIP 1, VIP 2, etc.). At each VIP level, your BASE trading fees decrease significantly, even BEFORE applying the BNB discount. For example, a VIP 3 pays much less than a VIP 0. Monitor your BNB and volume requirements on your user panel to level up.
👉🏻 Take advantage of the "BNB Vault" to hold BNB and earn APY: Instead of having your BNB idle, put them in the BNB Vault. You earn a decent APY (annual percentage yield) and, more importantly, the BNB in Vault counts towards your VIP level and commission calculation, while generating passive income for you!
2. Advanced Order Settings (Beyond "Limit" and "Market"):
👉🏻 OCO Orders (One Cancels the Other): Essential for managing risk. It allows you to set a take profit order and a stop-loss order simultaneously. If one is executed, the other is automatically canceled. Few beginners use them, but they are vital for protecting your capital.
👉🏻 Post-Only Limit Orders: Useful for advanced traders who want to ensure that their order always enters as a "maker" (adding liquidity to the market) to get lower fees (or even rebates). The order will be canceled if it is going to be executed immediately as a "taker."
3. Managing "Dust" Cryptocurrencies:
👉🏻 Convert "dust" to BNB: Over time, you will accumulate small amounts of cryptocurrencies (dust) from trades or airdrops that are too small to trade. Binance has a feature to convert all this "dust" directly to BNB. This not only cleans up your wallet but also helps you accumulate more BNB for your commission discounts and VIP level. Look for the option in your "Spot" wallet or "Convert small amounts to BNB."
4. Use the "Convert" for Quick Swaps and No Fees (for certain trades):
👉🏻 Often, users go to the Spot market to exchange one coin for another. However, for simple exchanges of popular cryptocurrencies (e.g., BTC to USDT, ETH to BNB), the "Convert" feature on Binance may be simpler and often has no explicit trading fees (although the spread may be slightly different). It's useful for smaller amounts or for users who want simplicity.
5. Binance Earn: Maximize Compound Interest and Flexibility:
👉🏻 Auto-Subscribe in Flexible Staking: If you use flexible staking or flexible savings, enable the "Auto-Subscribe" option. This automatically reinvests your interest earnings, taking advantage of compound interest.
👉🏻 Take advantage of the "Activities" and "Promotions" from Earn: Don't just stick with the regular savings products. Go to the "Earn" section and look for the "Activities" or "Promotions" tab. There are often locked staking offers with much higher APY for a limited time for certain coins.
6. Session Control and Security:
👉🏻 Regularly check your Active Sessions: In your account security settings, you can see all the devices and locations from where your account is currently logged in. If you see anything suspicious, you can remotely log out of those sessions. It’s an additional layer of security that many forget to check.
👉🏻 Withdrawal Whitelist: Enable this for your withdrawal addresses. Once enabled, you can only withdraw funds to the addresses you have previously approved on your whitelist. If an attacker accesses your account, they will not be able to withdraw funds to an address that is not on your list. It is a VERY powerful security measure.
7. Participate in Launchpad and Launchpool (If you meet the requirements):
👉🏻 Launchpad: It’s Binance's platform for launching new tokens. Users can invest BNB or FDUSD (before) to buy new tokens at a very low price before they hit the market. It requires luck and enough tokens to be allocated, but the profits are usually very high.
👉🏻 Launchpool: Here you can "farm" new tokens by locking your BNB, FDUSD, or other cryptocurrencies. You earn new tokens for free while your funds are locked (and the BNB in Launchpool usually counts towards your VIP level). Keeping an eye on these launches is key to obtaining new cryptocurrencies with potential.
8. Price Alerts and Custom Notifications:
👉🏻 Set price alerts for your favorite cryptocurrencies. You can receive push notifications on your phone when a coin reaches a specific price. This allows you to react quickly without having to be glued to the screen.
Apply those 8 tips and it's time to dive into #Bitcoin2025 🤑🤑