Hello friends!

In this article, I will tell you five ways to make money on Binance.

First, register on the exchange and top up your wallet. Binance is the largest exchange by trading volume in both spot and derivatives and is best for beginners.

Let's combine the first two ways of earning money into one. This is trading: spot and futures.

Go to the “Trading” ⇒ “Spot” section. We buy, for example, BNB and wait for the token to grow, then we sell.

You can go to the “Derivatives” ⇒ “USD-M Futures” section and trade long (up) or short (down).

We select a coin, set up margin, leverage, transaction volume and open a position. For beginners, isolated margin is suitable, because with it we risk only the money in the transaction, with cross margin we risk all the money in the futures account.

I don’t recommend taking leverage higher than x5, because this is the exchange’s money and the higher it is, the more likely the risk of position liquidation, especially in the absence of experience.

An important point is that transactions with large amounts can be psychologically difficult. Several unsuccessful trades in a row can greatly affect your emotional state. Therefore, start with small, comfortable amounts for yourself and gradually increase them as your deposit increases and your nerves strengthen.

Another method closely related to trading is installing and setting up a trading bot. Select the section “Trading” ⇒ “Trading Strategies”. Here are strategies created by other users.

We go to the “Trading Pool”. Here you can see and compare the return on investment in percentage (ROI), how much profit (Pnl) a particular bot brings and how long it has been around.

There are tools to create your own strategy for both spot and futures trading. You can do this automatically by simply selecting a coin. Binance will configure the necessary parameters itself.

We decide on a strategy: neutral - if the market is in a flat, long - if the market is moving up, and short - if down. Naturally, bots can also trade at a loss, so it is important to determine the direction of market movement and correctly set trading parameters.

The next tool for making money is staking. The income in this case is quite small, but if the coins are lying idle, then this is a completely viable option. The longer the staking period, the more income you will receive. You can pick up your coins at any time.

Go to the “Earn” ⇒ “Staking” ⇒ “Fixed Staking” section. We select coins by comparing percentages. It is important to understand that the staked coins themselves may fall in value.

Launchpad and Launchpool are the next couple of tools that you can use to make money. The top projects and coins are being launched on Binance!

To participate in Launchpad, we need to hold BNB tokens in our balance. At the beginning of a new Launchpad there is a settlement period for holding BNB. During this time, we need to hold as much BNB as possible in the account. Then the subscription starts and we put our BNB there: the more there are, the more coins we will receive. Then the tokens can be sold on an exchange, and they all increase in price quite a lot, especially at the beginning.

In Launchpool, we stake our BNB and receive pool coins as a reward. Not all of them are very profitable, but there are exceptions.

The last fifth way to earn money is located in the “Earn” tab and is called “Liquidity Farming”.

It presents liquidity pools to which we can provide money and receive interest for it. This interest is charged for swapping currencies against each other.

It turns out that by investing our money in the pool, we receive a commission when an exchange occurs on our pair. Plus there is an additional reward for providing liquidity.

Farming always involves two coins. Profitability depends on market movements, and there is a lot to be made when new coins become available. There is a stable pool and an innovative one. The stable one has much lower returns, because currency pairs are more reliable. The innovative one offers greater profitability, but at the expense of increased risks.

There are also ways to make money on Binance, for example, P2P trading, but we have looked at the most risk-free, convenient and accessible to beginners!