To earn $100 a day on Binance, you need solid knowledge of the cryptocurrency market, patience, and a clear strategy. Below are detailed methods that you can apply, depending on the level of risk you can accept.
1. Spot Trading (Immediate Buy/Sell Trading)
1.1. Buy Low, Sell High
Strategy: This is the most common method in cryptocurrency trading. You buy a cryptocurrency when its price is low and sell it when the price rises to earn a profit.
How to do it: First, you need to research the market to understand the factors that affect the price of cryptocurrencies, such as news, policies of countries, or market demand.
Timing: To trade successfully, try to buy when the market is down and wait for the price to recover to sell. This requires you to be patient and closely monitor the market.
1.2. Swing Trading
Strategy: Swing trading is the method of seeking profits from the market's ups and downs over a longer period, from a few days to a few weeks.
How to do it: Look for market trends by analyzing price charts and technical indicators such as MACD, RSI. This method helps you avoid strong market volatility in the short term.
Benefits: This strategy is less risky compared to day trading, as you do not need to continuously monitor the market.
1.3. Day Trading
Strategy: Day trading is the method of buying and selling within the same day. This requires high concentration and continuous market monitoring.
How to do it: With this method, you need to use technical indicators such as Bollinger Bands, RSI, and candlestick patterns to find entry and exit points.
Benefits and risks: This is a high-risk strategy because you have to make quick decisions. However, if successful, you can earn good profits in one day.
2. Binance Earn (Savings and Staking)
2.1. Flexible Savings
Strategy: You can deposit cryptocurrencies into Binance Earn and receive interest over time. This method is suitable for those who want to hold cryptocurrencies long-term while still earning profits.
Benefits: Flexible savings allow you to withdraw money at any time without time limits. Interest rates vary depending on the type of asset you deposit.
2.2. Fixed Savings/Staking
Strategy: Lock your assets for a certain period to receive higher interest rates compared to flexible savings.
How to do it: The locking period for cryptocurrencies can be 30, 60, or 90 days depending on your choice. Binance will pay higher interest rates when you lock assets for a longer time.
Risks: Once you have locked your assets, you cannot withdraw them during the chosen period. If the market changes suddenly, you may miss the opportunity to sell.
2.3. Participate in Launchpool
Strategy: Launchpool is where you can participate in staking popular cryptocurrencies to receive new tokens from startup projects.
How to do it: Binance often launches new projects through Launchpool, and you can receive tokens from these projects by staking cryptocurrencies into Launchpool.
Benefits: You can receive new tokens without having to invest a large amount of capital, and you can also benefit from the increase in token value in the future.
3. Binance Futures (Futures Trading - High Risk)
3.1. Futures Trading
Strategy: Futures allow you to predict whether the price of cryptocurrencies will go up or down. If you guess correctly, you can profit from price fluctuations.
How to do it: Binance offers Futures contracts with leverage, meaning you can bet with more money than you have. Leverage helps increase profits but also increases risks.
Risks: Futures are a very risky form of investment; if the market moves against your prediction, you could lose your entire investment.
4. Refer a Friend Program
4.1. Refer a Friend
Strategy: Binance has a referral program where you will receive a portion of the trading fees from those who register through your referral code.
How to do it: Register for a Binance account and create a referral code. Share this code with friends, acquaintances, or communities on social media. Every time they trade, you will receive a portion of the trading fees as commission.
Benefits: This method does not require you to invest capital. If you have a large network of friends, commissions from their trades can be a stable income source.
5. Complete Quizzes and Promotions on Binance Academy
How to participate: Binance often hosts token reward programs when you complete quizzes or participate in promotional events. Check the 'Learn and Earn' section to not miss the opportunity.
Benefits: This is a risk-free way to make money, suitable for beginners who want to accumulate cryptocurrency without needing to invest capital.
6. Auto-Invest (Automated Investment)
6.1. Automated Investment Strategy
Strategy: Auto-Invest is a feature that allows you to set up automatic buy orders for cryptocurrencies on a regular basis, such as weekly or monthly. This method helps average the purchase price, avoiding the situation of 'buying high, selling low.'
How to do it: Sign up for Auto-Invest and choose the cryptocurrency you want to invest in. Binance will automatically deduct money and purchase periodically according to the predetermined plan.
Benefits: This method is suitable for those who want to invest long-term without the need to continuously monitor the market.
7. Advice and Risk Warnings
High volatility market: The cryptocurrency market is highly volatile. Do not invest money that you cannot afford to lose.
Learn knowledge: Always learn and improve your knowledge before investing. You can refer to resources from Binance Academy or other reputable sources.
Control emotions: In investing, do not let emotions affect your decisions. Set clear profit targets and loss limits, and adhere to the established plan.
If you are patient and have a strategy, you can earn $100 a day from Binance. However, always remember that this takes time, persistence, and discipline in capital and risk management.
