There are many ways to start in cryptocurrency or enhance your holdings with free methods to get free cryptocurrency. Here are our 6 ways to get free cryptocurrency on Binance 2024:
Catch the Airdrop Fever:
Stay alert for airdrops! An airdrop is a marketing giveaway where cryptocurrency projects offer free tokens to create buzz and hype for a new project or token launch. You can learn about upcoming airdrops and catch the fever here on Binance Square to do free cryptocurrency gigs.
Pro Tip: Look out for Binance only Megadrops, they offer a huge sum of free tokens to users who complete simple tasks.
Learn to earn with Binance Earn:
Binance Earn has various products to help you grow your cryptocurrency holdings and some of them will actually get you free cryptocurrency! Check out staking, savings and liquidity pools. You can lock in and stake your existing cryptocurrency holdings for a fixed period to earn interest passively, usually the interest is paid in the same cryptocurrency you stake.
Learn & Earn: Take a quiz and earn cryptocurrency:
Binance Learn & Earn is an awesome section that helps you to learn and earn, double benefit. You take short courses and quizzes on various cryptocurrencies and blockchain projects and earn tokens for your newly gained knowledge.
Get into Launchpool:
Launchpool is a unique platform to get into new tokens even before they are launched. You can stake your Binance Coin (BNB) to participate in the liquidity pools and earn free tokens from the upcoming hot projects.
Write2Earn on Binance Square:
You read right, you can earn cryptocurrency by writing. Here on Binance Square we run a Write2Earn program. You write informative and engaging crypto content and get paid in tokens for your writeups.
Referral programs and social media giveaways:
A lot of cryptocurrency companies have attractive referral programs, Binance included. You simply invite your friends to join the platform using your referral code and you both get a reward, in cryptocurrency.
Based on the information in the chat, the signal for LTC is bullish. This is because the chat mentions a spot trade with an entry at market price and targets of 86.44 and 90.72.
Ripple and XRP Await SEC Decision, Could Monday or Tuesday Bring Settlement News?
The status of Ripple (XRP) remains in limbo as the ongoing lawsuit with the U.S.
Securities and Exchange Commission (SEC) nears a potential conclusion. The SEC alleges XRP is an unregistered security, while Ripple argues it's a commodity similar to Bitcoin (BTC) and Ether (ETH).
A recent development came from a Ripple executive's statement declaring XRP a commodity according to the Howey Test, a legal framework used to define securities. This has fueled speculation of a possible settlement being reached by Monday or Tuesday of next week.
However, it's important to note that these are just rumors, and no official confirmation has emerged from either party.
Here's what XRP holders should consider:
Hold Until Clarity Emerges: The market is likely to react significantly to the SEC's decision. Holding XRP until the official announcement allows you to benefit from any potential price surge if the ruling favors Ripple.
Stay Informed: Closely follow reliable news sources for updates on the lawsuit's progress.
Consider Diversification: While the potential upside is significant, so is the risk. Having a diversified cryptocurrency portfolio can help mitigate potential losses.
Advice avoid future, can take a chance in Spot against these.
Trade Carefully: 3 Coins to Approach with Caution in Your Next Futures Trade
While the allure of high potential returns can be strong, some cryptocurrencies come with hidden costs or risks that can make them less than ideal for futures trading. Here are 3 coins to carefully consider before placing a futures bet:
$TRB (Troubled Reputation?): While TRB might seem enticing, its history of alleged manipulation and high volatility means its price movements can be unpredictable. This makes it difficult to accurately predict future prices, a key element for successful futures trading.
$GLM (Gauging Leverage Costs): GLM can be a valuable asset, but its high funding rates for futures positions can eat significantly into your potential profits. Before diving in, make sure you understand the full cost of leverage associated with GLM futures.
$UMA (Understanding Margin Costs): Similar to $GLM , UMA futures can be expensive to maintain due to high margin requirements. These requirements force you to put up more capital to hold a futures position, potentially limiting your buying power for other trades.
#ETFsvsBTC Bitcoin ETFs vs. Direct Bitcoin Purchases: Weighing Your Options For new users considering Bitcoin investment, navigating the two main options can be tricky. Here's a breakdown of Bitcoin ETFs and direct purchases to help you decide:
Direct Bitcoin Purchases
Pros:
Ownership and Control: You directly hold the Bitcoin, offering greater autonomy. You can transfer it freely and potentially benefit from future functionalities like staking. Potentially Lower Fees: Compared to ETF expense ratios, buying on an exchange might have lower upfront costs. Cons:
Security Risk: You're responsible for safe storage. Hacking or losing your private keys could result in permanent Bitcoin loss. Complexity: Understanding wallets, exchanges, and safe storage methods requires research and technical knowledge. Regulation: Regulations around Bitcoin are still evolving, potentially impacting ownership in the future. Bitcoin ETFs
Pros:
Convenience: Invest through your existing brokerage account, similar to buying stocks. Easier to manage and integrate into your portfolio. Regulation: ETFs are regulated, offering potentially more investor protection compared to unregulated exchanges. Security: You don't handle the underlying Bitcoin directly, reducing the risk of self-storage issues. Cons:
No Direct Ownership: You don't truly own Bitcoin but rather shares in an ETF that tracks its price. Fees: Expense ratios associated with the ETF can eat into your returns compared to direct purchases. Limited Functionality: You might not be able to access some functionalities like staking available with direct ownership. Valuable Insights for New Users:
Risk Tolerance: Bitcoin is a volatile asset. If comfortable with self-custody and managing risk, direct purchase might be suitable. If you prioritize ease of use and potentially lower risk, ETFs could be a better fit. Investment Goals: Are you looking for long-term exposure to Bitcoin's price movements or interested in the technical aspects and potential future functionalities? This can guide your decision. $BTC #Write2Earn
#wif Whale trading volume in WIF perpetual contracts dropped significantly by 74.32% within that 30-minute window. At the time of the data capture, the long to short ratio was 4.7:1, indicating more longs than shorts. The price of WIF at that time was $3.17.
SOL In contrast, whale trading volume in #SOL perpetual contracts surged by 356.50% during the same period. The long to short ratio was even higher at 10.2:1, suggesting a strong bullish sentiment among whales. The price of SOL at that time was $153.16.