Earning a steady income on Binance is totally possible! You just need a clear plan, smart risk management, and a good grasp of different trading techniques.
The math is simple: the more you have funds, the more daily earnings you can make. Even if you have $500 to $1000, you can make daily earnings. This guide will walk you through how to make $33 daily and even more on Binance.
Getting Set Up on Binance
Create an Account: First thing first, head over to Binance and create your account. Make sure to complete your identity verification.
Secure Your Profile: Turn on two-factor authentication (2FA) and set up strong security measures to protect your assets.
Add Funds: Deposit crypto from another wallet, or purchase directly on Binance with your credit or debit card. You can also use Binance P2P to but USDT.
Proven Method to Make Money on Binance
1. Spot Trading: A Simple Way to Earn
Spot trading is one of the safest ways to make money on Binance. It’s all about buying low and selling high. You can buy the coin that you think has good potential for up move and sell it once you see the desired profit.
Here's how you can do your stop trading on Binance
Choose Volatile Pairs: Go for coins such as BTC/USDT or whichever you like that see regular price fluctuations.
Use Indicators: Keep an eye on tools like RSI (Relative Strength Index), moving averages, and volume to find good entry and exit points.
Set Small Profit Targets: Aim for smaller profits. A daily profit of 2-5% will give you decent returns of $33 and beyond on your investment.
Here are the few coins users can trade:
2. Futures Trading: Boost Your Gains (But Be Careful)
Futures trading lets you leverage your trades for bigger profits, but it also comes with higher risks.
Start Small with Leverage: Use 2x to 5x leverage to minimize the risk of large losses. Risk management is the key here. Focus on growing your portfolio and fund size, not the leverage. Taking leverage over 5x is risky, and you can lose your funds if the market turns against your analysis.
Set Stop-Loss Orders: Always set a stop-loss to cap your potential losses.
Trade High-Liquidity Pairs: Stick to popular pairs that have greater liquidity than is trading volume.
Analyze the Market: Use technical analysis, looking at charts, moving averages, or patterns to spot trends. If your analysis says there is less change of profit than loss. Stick to your analysis and do not take.
Example: With 5x leverage on a $350 position, a 2% favorable price move can bring you more than $33 in profit.
3. Staking and Yield Farming: Earning Passively
If you’re looking for a low-risk, passive income strategy, Binance offers great options through staking and yield farming.
Locked Staking: Earn interest on your crypto by locking it for a set period.
DeFi Staking: Some projects offer high returns (APR) with short lock-in periods.
4. Binance Earn Programs: Set and Forget
If you want a truly hands-off strategy, try Binance’s Earn programs. This is one of my favorite features of Binance. I put ideal crypto and even USDT in the Binance earn program.
Flexible Savings: Deposit your crypto into Flexible Savings to earn daily interest. Earnings are deposited directly into your account each day.
Fixed Deposits: Lock your crypto for a fixed time and get a regular income. The time varies as per crypto projects. This can be 7, 15, 30, 60, 90 and 120 days. You can get 4-20% ARR on your deposit coins.
Liquidity Pools: Provide liquidity to certain token pairs and earn a share of the transaction fees.
Launchpool: Stake tokens in new projects and earn free tokens as rewards. Keep an eye on new pools for potential high returns. Binance is a leading crypto exchange, and if some coin is launching on the Binance launch pool, it attracts many traders and investors. So, if you find it promising, you can buy or trade it to make a profit.
5. Tips for Consistent Gains: Key Things to Remember
- Set Realistic Goals: Start small, and make sure your goals match your capital and risk tolerance.
- Crypto is Volatile: Prices can swing wildly, and profits aren’t guaranteed. Be prepared for losses, too.
- Account for Trading Fees: Binance charges fees on both spot and futures trades, so factor these into your profit calculations.
- Futures Liquidation Risk: With leverage, there’s always the risk of liquidation. Make sure you understand margin calls.
- Follow News and Updates: Keep an eye on market trends, news, and updates that could impact your trades.
- Diversify Your Investments: Use a mix of strategies like spot trading, futures trading, and staking to spread risk and optimize returns.
- Risk Management: Only trade with money you’re willing to lose. Start small and grow as you learn.
The Bottom Line
Making $33 daily on Binance is possible with the right approach. It’s important to start small, focus on risk management, and gradually build your trading strategy.
You can combine different strategies like spot trading, futures, and staking; you can develop a consistent plan to reach your daily profit target. However, it is important to set a realistic and achievable profit target. Making $33 and more with $1000 is more achievable than trying with $100.
