How do I trade cryptocurrency on Binance and make profit? I'm a beginner.

Scenario 1

If you put in $2000 on Binance and track a 5% rise, you will also make $100 per day every single day.

With $2000 in, a 10% rise will guarantee you $200 daily!

Scenario 2

Put in $500 on Binance and track a 20% rise you will make $100 daily.

Remember that they are maker and taker fees that are deductible by Binance for facilitating these transactions.

Why put in more money and not less?

Imagine putting in $200. For you to make $100, you would need to trade a pair that would rise 50% which is much rarer than a pair rising 10%.

Again with $200, you would need to trade at least five different crypto pairs rising 10% a day to make your minimal $100 target. This can be exhausting as the different pairs could be rising at the same time. It could create confusion on which one to choose which could lead to mistakes that will lead to losses.

Putting in at least $1000 for this strategy is much safer and less taxing. The more money you put in, the easier it is to make a profit and the less taxing it is to find different pairs at different times to turn in $100 a day.

A $5000 investment with a 10% profit strategy could give you $500 daily! Neat, right?

Stable coins

Make sure that you are trading your crypto against a stable coin such as USDT, BUSB, BIDR, GBP, etc. That way, after exiting a trade, you store your money in a currency that won’t change in price until you decide to trade again.

You don’t want the surprise of finding that your $1000 turned into $340 overnight after storing it in dogecoin. Remember that your $1000 using this strategy is the investment that will make you $100 a day. So you must make sure it remains intact.

Of course, there is some probability that dogecoin could rise during that period which could mean more profits for you, but that is not the strategy here.

Remember to withdraw or transfer your daily gains if you do not wish to reinvest them.