How To Trade On Binance And Make Money – 6 Ways To Earn Interest On Binance

Reading Time: 6 minutes

For anyone looking on how to trade on Binance and make money, know it has to do with lots of tutorial, which will make you a professional in trading any Cryptocurrency of your choice

There are many platforms to trade crypto but on this topic we are focusing on how to trade on Binance and make money

Binance is one of the biggest and most reputable cryptocurrency exchanges in the world, offering more than 250 different coins for sale on its platform. And it’s never been easier to begin trading on Binance than now—the service offers both a desktop and a mobile exchange, with each feature the same simple interface that users have come to expect. You can download the Binance app or head to binance.com and get started right away!

Binance was founded July 2017 by a Chinese developer who previously created high frequency trading software by name Changpeng Zhao also known as or called CZ

How To Trade On Binance And Make Money

Trade on Binance and Earn Money By Trading

Cryptocurrency trading can be executed by various platform but here we various platform but here we are focusing on using Binance exchange to perform all your trading transaction

1. Open A Binance Wallet Account

Before trading any Cryptocurrency, you need to First create an account in order to How To Trade On Binance And Make Money which gives you full access to the trading world of Crypto.

To create a Binance account you need to:

  • Open the official Binance website
  • You will be required to submit your email address, password and phone number
  • Phone verification is optional, but I recommend doing it to increase security.
  • Verify your email address by clicking the link Binance sends you.
  • Log into your account and create a trading password. A 6 digit pass code sent to your phone is required to log in.
  • You can also set up 2-factor authentication (2FA) here. Be sure to save your secret key as you’ll need it if you ever lose or replace your phone or disable 2FA later on.

how to trade on binance and make money

2. Secure Your Account

After creating your wallet account, the next thing which is very important is securing your account

Below are the things to do in order to secure your account to avoid criminals and online fraudsters penetrating into your account which will involve them taking all your crypto assets when accessed

  • Endeavour to always login to your Binance account through the official link https://www.binance.com or from the official app which can be downloaded on play store for Android users or app store for iPhone users
  • Enable two factor pin by downloading an authenticator, then link to your Binance account
  • Don’t ever share your login password to anybody even when someone tells you he or she says they are from the Binance help desk or customer care
  • Don’t access your account from third party sites or ads

how to trade on binance and make money

3. Deposit Funds

Now that you’ve completed basic registration, it’s time to fund your account!

Related:  What is SMG token Full Explanation

How to fund your wallet 

  • Click on “Funds” at the top of the screen and then “Deposits / Withdrawals” under Funds on the dropdown menu.
  • Select the asset you want to deposit from the “Deposit” dropdown menu. I suggest depositing BTC into your wallet since it can be used for both spot and margin trading on Binance. Bitcoin deposits usually take less than 10 minutes to confirm. After the first confirmation, there will be a transaction hash displayed with a link to check its status on Blockchain Explorer.

how to trade on binance and make money

4. Start trading on binance

You must follow the steps below in order for you to start trading on binance

  • Login to the Binance official website https://www.binance.com
  • Go to spot and click on classic
  • Choose your preferred coin to trade with
  • Click on the coin
  • Buy the coin

Either you buy or sell at current market price where your order will executed immediately or at limit order where you set your preferred execution price yourself

How To Trade On Binance And Make Money

  1. To open your order click buy
  2. To sell your coin, you need to input the amount of a particular coin you want to sell

What is day trading?

Day trading is a tactic that involves entering and existing trade on same day

how to trade on binance and make money

How to day trade in Binance

Binance has a very easy to use trading interface, and it also has a lot of features that make it great for day trading.

having a deep understanding of the market and trading experience is what you need to become an effective crypto trader. To identify entery and exist point in trading some technical tools are needed

How To Earn Interest On Binance

Make Money By Holding – How To Trade On Binance And Make Money

word image 2480 2

In the Crypto world, Binance has been continuously dominating globally. Crypto Traders and crypto investors, Binance enables it’s users to earn interest deposit cryptocurrency into their wallet account. There are many ways to earn interest on Binance wallet account which includes:

  1. Flexible savings
  2. Locked savings
  3. Locked staking
  4. Dual Investment
  5. BNB Vault

1. BNB Vault

The BNB Vault is a BNB yield aggregator that combines Savings, BNB DeFi Staking, and Launchpool to give you returns. It’s truly easy to start earning with BNB Vault.

After staking your BNB, you will admit BNB Vault means. The interest will start to calculate on the alternate day and prices are distributed to your account on a quotidian base.

how to trade on binance and make money

You can redeem your finances at any time via two styles 1. fast redemption and 2. standard redemption.

Fast redemption allows you to redeem your BNB on the same day you make the request, but you will lose the interest accrued on that day.

While

Standard redemption will return your finances the coming day, but you will still be entitled to the interest accrued on that day.

how to trade on binance and make money

2. Dual Investment

word image 2480 3
6 Ways To Earn Interest On Binance- Binance dual Investment

Binance Dual Investment is a nifty way to earn some side income no matter which direction the price goes. It lets you optimize yield on your savings while minimizing price threat. How does it work? Let’s see a quick run- through.

You deposit a cryptocurrency and earn a return grounded on two means. You commit your effects, cinch in a yield, but earn further if the value of your effects increases during the time that they ’re locked up.

how to trade on binance and make money

Related:  What is sweatcoin and how it works 2022: Full Details

3. Locked savings

Binance locked savings offers you better returns but lower flexibility to access your funds.

The difference is that you’ll set a fixed duration for your funds to accrue interest.

Why is this better? Well, this will give you a higher interest rates than Flexible Savings products since the term and interest rate are both fixed.

Locked Savings products can range from 7 to 90 days. So, if you know you won’t need some funds elsewhere for a certain period of time, you can lock them to earn at a higher interest rate.

how to trade on binance and make money

4. Locked staking

By holding Proof of Stake (POS) coins in your Spot Wallet, you can earn staking rewards by simply holding the coin.

If you submit your PoS coins to be locked for a periods ranging from 7 to 90 days, you can earn a higher reward. This is essentially the same deal as Flexible vs. Locked Savings, only with staking.

Additionally, some coins will also allow you to do a Flexible Lock, where you commit your funds for staking, but you still maintain the ability to withdraw if you want to.

5. Flexible savings

word image 2480 4

you earn interest on your funds through Flexible Savings. Flexible Savings is easy to use and gives you good flexibility. You can deposit your funds, earn interest, and redeem them at any time if your choice.

By holding some funds in your Binance Spot Wallet, you can consider depositing it into a Flexible Savings account.

Since you can access your Flexible Savings any time, it’s easy to make those funds work for you while they’re not being used anywhere.

Thee first interest payment of a flexible Savings is been calculated from the next day after your subscription.Note that the interest will not be calculated on the day of your subscription.

how to trade on binance and make money

6. ETH 2.0

ETH 2.0 is the long-awaited upgrade to the Ethereum network that promises, among other things, to improve the network’s scalability, speed, efficiency, and sustainability without sacrificing security and decentralisation. The ETH community aims to achieve this by rolling out several updates in three phases.

Conclusion

how to trade on binance and make money

All you need to trade on Binance is a Binance account. Binance is one of the most popular and best cryptocurrency exchanges in the world and it has led the way for many other exchanges to come. It currently offers both AI algorithms, which are used to trade digital currencies, as well as people who manually trade using their intuition and experience.

If you’re interested in trading cryptocurrencies, I should warn you that it takes a certain degree of commitment. You can’t just buy, sell, and forget. You’ll need to be dedicated if you want to make money at this. And (this could be my personal bias) I know that there’s never been a better time for you to start than right now.

Leave a Reply

error: Content is protected !!
%d bloggers like this: