Eric SJ
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Maybe you often use WeChat, but you may not understand it; maybe you often use Binance, but you probably don't understand it~
This article is still a continuation of the popular science series. It will introduce to you 12 commonly overlooked practical functions on the Binance platform other than trading or related to trading, many of which can bring us returns~
We will introduce them one by one based on the order of the following figure. All functions can be found in the [More] section of the function column on the Binance homepage👇🏻
1. [Flash Exchange]: This function is ignored by many people, thinking that it is the same as spot trading, but our spot trading requires USDT or other trading pairs, while Flash Exchange supports the exchange between almost any two tokens in Binance, saving you the step of exchanging coins for U first and then exchanging U for coins Steps
2. [Dual Currency Investment]: This is an automated option strategy financial product. I will not elaborate on the details here. I have written an introduction in the past. You can jump to the article to check. This product is still feasible and the logic is very simple. ➢内容跳转
3. [Pledged Borrowing]: This is the function I use most often in the bear market. It can be used as a spot leverage to allow us to hoard more spot in the bear market. The principle is also very simple. It is to use the coins in your hand to pledge for U, and then use U to buy coins, and then pledge again. Of course, this also has liquidation risks, which is a kind of spot leverage
But now I don’t use it much, because the current borrowing interest rate is a bit high~
4. [ETH Staking】: that is, $ETH liquidity pledge, entrust Binance to participate in ETH node staking on Binance to obtain income. If you have idle ether on the platform, you can directly participate on BN to exchange for liquidity tokens $WBETH . This token can be sold, and then U can be used again for repeated operations. It can also be used to participate in some Defi income aggregation
5. [Binance Mining Pool]: How to become a Web3 miner as quickly as possible, use the Binance Mining Pool function to purchase Bitcoin cloud computing power~ The income is also directly sent to the platform, which is similar to the logic of ETH Staking
6. [Web3 Wallet]: A strategic product that can participate in various on-chain interactions, an MPC smart wallet
7. [Web3 Airdrop]: Provide airdrop tasks for various projects from time to time. You can get token rewards by completing the tasks. The cost of the tasks is usually very low, and you can occasionally get a pork trotter meal (personal test)
8. [Trading Insight]: I am not sure whether this function is open to everyone, because I participated in the product internal test, but even if it is not open now, it will be in the short term. In short, it is a function that prompts you with various trading signals. This trading signal is not only within the exchange, but also on the chain, as well as tracking of unlocking events
9. [Live]: The live broadcast function of the social section covers Web3 anchors such as games and market analysis. This does not need to be elaborated
10. [Square]: Friends who can see the content of this article believe that I don’t need to explain more. Binance Square is currently the most leading trading platform in the industry with built-in Web3 information function
11. [Research Institute]: The Research Institute covers Binance’s new coin mining and Megadrop project analysis every period, and will update several in-depth research reports every month. The English version will be updated first. Interested friends will find this function very valuable
12. [Binance Academy]: Is it difficult to get started with Web3? But if you can read 60% of the knowledge in Binance Academy, you will be more knowledgeable than more than 90% of people in this industry. Binance Academy has a problem for ordinary readers, that is, it is not colloquial enough, which is also something that is difficult to avoid as a well-known market player.
I am not talented. Although I have not finished reading the articles of Binance Academy, I have read all the similar popular science series at the beginning, and there are also hundreds of articles, so I have the basis to brag to everyone😎
The above, I hope that the content of this article is indeed concise enough to help you understand that in addition to trading, Binance also has many functions mentioned above to help you navigate Web3. Thank you for reading~
This article is still a continuation of the popular science series. It will introduce to you 12 commonly overlooked practical functions on the Binance platform other than trading or related to trading, many of which can bring us returns~
We will introduce them one by one based on the order of the following figure. All functions can be found in the [More] section of the function column on the Binance homepage👇🏻
1. [Flash Exchange]: This function is ignored by many people, thinking that it is the same as spot trading, but our spot trading requires USDT or other trading pairs, while Flash Exchange supports the exchange between almost any two tokens in Binance, saving you the step of exchanging coins for U first and then exchanging U for coins Steps
2. [Dual Currency Investment]: This is an automated option strategy financial product. I will not elaborate on the details here. I have written an introduction in the past. You can jump to the article to check. This product is still feasible and the logic is very simple. ➢内容跳转
3. [Pledged Borrowing]: This is the function I use most often in the bear market. It can be used as a spot leverage to allow us to hoard more spot in the bear market. The principle is also very simple. It is to use the coins in your hand to pledge for U, and then use U to buy coins, and then pledge again. Of course, this also has liquidation risks, which is a kind of spot leverage
But now I don’t use it much, because the current borrowing interest rate is a bit high~
4. [ETH Staking】: that is, $ETH liquidity pledge, entrust Binance to participate in ETH node staking on Binance to obtain income. If you have idle ether on the platform, you can directly participate on BN to exchange for liquidity tokens $WBETH . This token can be sold, and then U can be used again for repeated operations. It can also be used to participate in some Defi income aggregation
5. [Binance Mining Pool]: How to become a Web3 miner as quickly as possible, use the Binance Mining Pool function to purchase Bitcoin cloud computing power~ The income is also directly sent to the platform, which is similar to the logic of ETH Staking
6. [Web3 Wallet]: A strategic product that can participate in various on-chain interactions, an MPC smart wallet
7. [Web3 Airdrop]: Provide airdrop tasks for various projects from time to time. You can get token rewards by completing the tasks. The cost of the tasks is usually very low, and you can occasionally get a pork trotter meal (personal test)
8. [Trading Insight]: I am not sure whether this function is open to everyone, because I participated in the product internal test, but even if it is not open now, it will be in the short term. In short, it is a function that prompts you with various trading signals. This trading signal is not only within the exchange, but also on the chain, as well as tracking of unlocking events
9. [Live]: The live broadcast function of the social section covers Web3 anchors such as games and market analysis. This does not need to be elaborated
10. [Square]: Friends who can see the content of this article believe that I don’t need to explain more. Binance Square is currently the most leading trading platform in the industry with built-in Web3 information function
11. [Research Institute]: The Research Institute covers Binance’s new coin mining and Megadrop project analysis every period, and will update several in-depth research reports every month. The English version will be updated first. Interested friends will find this function very valuable
12. [Binance Academy]: Is it difficult to get started with Web3? But if you can read 60% of the knowledge in Binance Academy, you will be more knowledgeable than more than 90% of people in this industry. Binance Academy has a problem for ordinary readers, that is, it is not colloquial enough, which is also something that is difficult to avoid as a well-known market player.
I am not talented. Although I have not finished reading the articles of Binance Academy, I have read all the similar popular science series at the beginning, and there are also hundreds of articles, so I have the basis to brag to everyone😎
The above, I hope that the content of this article is indeed concise enough to help you understand that in addition to trading, Binance also has many functions mentioned above to help you navigate Web3. Thank you for reading~
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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