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Welcome back to the ultimate guide! In Part 1, we explored how to earn crypto with Binance Learn & Earn, Airdrops, and Launchpool/Launchpad. Now, let's dive into other equally safe and effective ways to keep your portfolio growing.
If you are new here, I recommend reading the first part so you don't miss any details!
D. Flexible and Locked Staking: Make your cryptos work for you! 💰
If you already have some cryptocurrencies, staking is one of the best ways to earn passive income. It's like having a savings account, but with cryptocurrencies.
What is it and how does it work?
Concept: It consists of 'locking' or 'depositing' your cryptocurrencies in a protocol to help secure the network. In return, the network rewards you with more cryptocurrencies.
Flexible Staking: It allows you to deposit your cryptos and withdraw them at any time. Rewards are usually lower, but it gives you total freedom. It's ideal for assets you might want to sell soon.
Locked Staking: You lock your cryptos for a fixed period (for example, 30, 60, or 90 days). Rewards are higher, but you cannot withdraw your funds until the period ends.
How to get started?
Navigate to 'Earn': In the Binance app, go to the 'More' section and look for 'Earn' or 'Finance' in the main menu.
Choose your asset: You will see a list of cryptocurrencies available for staking.
Select a plan: Choose whether you want a flexible plan or a locked plan. The platform will show you the Estimated Annual Percentage Yield (APY) so you know how much you can earn.
Pro Tips:
Diversify your staking assets: Don't put all your eggs in one basket.
Understand the APY: Interest rates can change, so the APY is an estimate.
E. Liquid Swap: Earn trading fees like a pro! 💧
If you want to earn free cryptocurrencies while understanding the heart of decentralized finance (DeFi), Liquid Swap is the way.
What is it and how does it work?
Concept: Liquid Swap allows you to become a 'liquidity provider'. You provide two cryptocurrencies (like BNB and BUSD) to a liquidity pool.
Earnings: In return, you earn a portion of the trading fees that other users pay when they trade those cryptocurrencies.
How it works: Think of it as if you have a currency exchange, and every time someone exchanges money at your place, you take a small commission.
How to get started?
Navigate to 'Liquid Swap': In the Binance menu, look for this option.
Choose a pool: Select a pair of cryptocurrencies (BNB/ETH, BTC/USDT, etc.).
Provide liquidity: Add an equal amount of both cryptocurrencies to the pool.
Pro Tips:
Understand 'impermanent loss': This is the only risk. Your original cryptos may be worth less in the pool than if you had held them in your wallet. It's important to research this before starting.
Look for popular pools: Pools with more trading volume will give you more commissions.
F. Invite a friend and earn! 🤝
This is the most direct and well-known method on any platform.
What is it and how does it work?
Concept: You earn a commission for every person you invite to Binance.
Process:
Get your link: In the app or website, look for the 'Invite a friend' or 'Referrals' option.
Share: Send your unique link to friends, family, or on your social media.
Earn a commission: Every time someone registers with your link and trades, you earn a percentage of their trading fees. Forever!
Pro Tips:
Be genuine: Recommend Binance only if you truly use it and like it.
Educate your referrals: Help your friends get started so they stay on the platform and keep trading. Their success is your success!
Congratulations! With this complete guide, you have the tools to start earning cryptocurrencies smartly. The crypto journey doesn't have to be just a monetary investment; it's also an investment in knowledge and time.$BNB
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