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. Binance, as the largest exchange in the market, not only offers trading services but is a complete ecosystem providing a range of opportunities for users to grow their savings in a semi-passive way. If you are looking for ways to earn over $10 a day without directly buying or selling currencies, here’s a roadmap.
Important note: Achieving this goal ($10/day = $300/month) heavily depends on the initial capital and the risk you are willing to take. There are no "magical" methods, but strategies that require patience and understanding.
Main strategies to generate income:
1. Staking (staking to earn returns):
This is the most common and semi-passive way to profit. You "stake" or freeze your digital currencies to support the security and integrity of the blockchain network, and in return, you receive periodic rewards.
How does it work? You buy a specific currency (like BNB, ETH, ADA, DOT, SOL...) and place it in its designated staking program on Binance.
Rate of return: Varies depending on currency and duration. It can range from 1% to 20% annually (APR).
To achieve $10 a day ($300 a month):
Assuming your average annual return is 10%.
Using the simple interest formula: Amount required = (Desired annual income) / (Rate of return)
Desired 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: Lock your funds for a specified period (7, 30, 90 days) and receive a higher return.
These programs include Staking and other techniques used by Binance to generate returns for users. The calculation is similar to the staking program in terms of 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 tokens for free before they are officially listed.
How does it work? You allocate part of your coins to a specific Launchpool program. For a duration of 30 days usually, you receive rewards from the new currency daily (sometimes hourly).
Profit potential: Returns here can be extremely high, especially if the new currency is in high demand. During active periods, participating with less capital can easily generate more than $10 a day.
Key: Often the highest returns are reserved for those who use BNB. Holding and staking BNB is a strong incentive for profits 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) into a "liquidity pool" to facilitate trades on the Binance DEX or via Binance Liquid Swap. In return, you receive a share of the trading fees and receive reward tokens.
Return: The return can be very high (sometimes 20% - 50% APR), but it fluctuates.
Risk: The main risk is "impermanent loss," which occurs when the prices of the currencies in the pair change significantly compared to when you deposited them. This is suitable for 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 complete certain tasks (like watching a video, completing a quiz). The rewards here are not guaranteed daily, but they can add significant additional income over the month.
Summary:
Making $10 a day on Binance without trading is entirely possible, but it's not magical. It primarily depends on:
Amount of invested capital: The more capital you invest, the lower the required return to achieve your goal, and the greater your financial security.
Maximizing Binance offers: Especially Launchpool and BNB staking.
Risk management: Understanding that high returns come with potential risks, and diversifying your strategies accordingly.
Start with what you can, and focus on reinvesting the profits you make to achieve compounding effects, gradually bringing you closer to your goal and then surpassing it.
