HOW TO BECOME A MILLIONAIRE ON BINANCE.
In the following post, I will teach the rule of 3, and also depending on the amount you have to start, you can make more than 1 salary per month on Binance.
The tips are valid for all amounts, 10 dollars, 100 dollars, 1,000 dollars, 10,000.
What you need to understand is that this is a percentage rule, you MUST respect this rule.
You can choose 1%, 2%, or 3%, the purpose of the post is the number 3.
What is the rule of 3, and how to apply it?
Rule of 3 is the percentage number that we will use in all trades.
For example, I have 10,000 dollars to invest, I will not invest all 10,000 in just one cryptocurrency, but in 50 or 100 cryptocurrencies.
Why 50 or 100? Because the chance of losing is much lower compared to just one.
So if I have 10,000 dollars, I would make 100 purchases of 100 dollars for each cryptocurrency.
And when to sell?
The sale will be made when the value reaches 3%, which is the rule.
For example, you bought 100 dollars, 3% of 100 dollars is 3 dollars, so when the value reaches 103 dollars, you sell.
In some cases, it will rise to 105 dollars, 107 dollars; this is normal sometimes, if this happens, just sell, don’t wait for it to go up more, because the market fluctuates, it goes up and down.
Do not sell below 1%, why?
Binance compared to other platforms charges an extremely SMALL fee for purchases and sales.
How much do they charge?
0.075% of the value.
If I calculate 0.075% of 100 dollars, it is 7 and a half cents (0.075 cents of a dollar).
So when buying 100, and selling at 103, the fees would be almost 16 cents in both transactions.
And if you buy 100 dollars and the coin starts to drop in price?
The first tip is to wait, because the market is volatile, it goes up and down... However, if it happens to drop significantly, like to 50 dollars, with the profit from the others, you buy again 50, and leave it in the account, sooner or later it will rise.
