I made my first money on Binance: My experience
A few months ago, I was just starting to understand cryptocurrencies and had no idea how it worked. I have always been interested in new technologies and investment opportunities, and one day I decided to try my hand at Binance. I want to share my experience of how I made my first money on this platform and the lessons I learned.
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First steps: registration and strategy selection
I started by registering on Binance, getting verified to have access to all features, and depositing a small amount that I was willing to lose.
At the start, I had two goals:
1. Understand the basics of working with cryptocurrencies.
2. Minimize the risks of losses.
I spent a few days watching video tutorials and reading articles about different ways to make money on Binance. As a result, I decided to try spot trading and staking.
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My first profit on spot trading
I chose spot trading because it is the easiest way to buy and sell cryptocurrencies. I chose two coins to start with:
Bitcoin (BTC) is the most stable cryptocurrency.
Binance Coin (BNB) — because it is the platform’s native coin and is often used to reduce fees.
I waited for the price of BNB to drop a bit and bought a small amount. A few days later the price went up 5% and I decided to sell. It was only a few dollars in profit, but it was my first success!
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Passive income through staking
After that, I learned about staking. It is the process of locking cryptocurrency for rewards. I chose BNB Locked Staking for 30 days.
During this time, I received about 8% per annum, which was an excellent passive income for me.
The best part was that I didn't have to constantly monitor the market.
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Lessons I learned
1. Don't invest what you can't afford to lose. I started with a small amount and it helped me avoid stress.
2. Study the market. Cryptocurrencies are very volatile, and knowledge helps reduce risks.
3. Diversification. It is important to distribute funds between different assets.
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What's next?
After my first successes, I started looking for new ways to make money:
Growing new tokens through Launchpool.
Attempts at trading with small leverage on futures.
Today I earn a small but stable income on Binance, and most importantly, I continue to learn.
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Conclusion
Earning money on Binance is possible even for a beginner. The main thing is patience, knowledge and a competent approach. My experience has shown that even small amounts can be the start of something bigger. If you want to try, start small and be ready to learn from your mistakes.#BtcNewHolder
