Earning a steady daily income of $10-$20 on Binance is not impossible, especially if you follow the right strategies and apply risk management principles. Although the cryptocurrency market is volatile, beginners can benefit from several ways to earn financial returns. Here are some methods you can adopt.

1. Invest small amounts and learn how to manage risks.

Start small: It is advisable to start with an amount that you can afford to lose. This helps reduce the risks associated with investing in a volatile market.

Risk Management: Use tools such as stop loss and take profit orders, which protect your investments from large losses and help you control buying and selling.

2. Make Money Through Passive Income Options

Staking: Allows you to store your cryptocurrency and earn rewards. Binance offers several options, including flexible and fixed programs.

Binance Earn: This service provides you with the ability to earn interest on the coins you own, as returns can reach 3-20% annually depending on the assets and the specified dates.

3. Spot trading (buy and sell)

Understand spot trading: This involves buying assets at a low price and then selling them at a higher price. Look for assets with high liquidity.

Choosing the right pairs: Beginners are advised to start with popular trading pairs such as BTC/USDT or ETH/USDT, and avoid volatile currencies until you gain more experience.

Set goals: Aim for small profits of 1-2% per trade.

4. Use Auto-Investing

Auto-Invest: This feature allows you to invest a certain amount on a regular basis, which helps reduce the impact of price fluctuations.

Investment Setup: You can set up an automatic investment in cryptocurrencies like Bitcoin or Ethereum.

5. Participate in Launchpool and Launchpad

What are these platforms?: They allow you to earn new tokens by committing to currencies like Binance Coin or Binance USD.

Potential Returns: Returns vary depending on demand, with some previous projects offering attractive returns.

6. Benefit from P2P arbitration

Binance P2P: Allows you to buy and sell coins directly with other users.

Profit opportunities: You can profit by buying currencies at a low price in one place and selling them at a higher price in another place, but this work requires tracking market prices.

7. Using Trading Tools for Beginners

Grid Trading: Helps you automate trading within a specified price range.

Copy Trading: You can follow experienced traders via platforms like 3Commas.

8. Take advantage of educational resources

Binance Academy: Offers free resources for beginners, such as learning to read charts and understand indicators.

Strategies to achieve a daily goal

Spot Trading Strategy: Target small trades with specific profit targets.

Invest in savings products: Divide your investments to get fixed, low-risk returns.

Automated investment: Set up a regular investment in major currencies.

Closing thoughts

Earning $10-$20 per day on Binance as a beginner requires time, patience, and applying the right strategies. It is advisable to avoid excessive risk and diversify your methods to achieve better risk distribution. Monitor your performance and develop your strategies continuously, and with perseverance, you can increase your profits in the world of cryptocurrencies.