It has been speculated that by the year 2030, cryptocurrencies will occupy 25 per cent of national currencies, which means a significant chunk of the world would start believing in cryptocurrency as a mode of transaction.
This will force it to become accepted by merchants and customers and will continue to have a volatile nature. The world is divided when it comes to cryptocurrencies.
On one side are supporters such as Bill Gates, Al Gore and Richard Branson, who say that cryptocurrencies are better than regular currencies.
On the other side are people such as Warren Buffet, Paul Krugman, and Robert Shiller, who are against it.
The opinion of others does not matter when it comes to taking life decisions, it’s only left for you to decide as a person what’s best for you.
In the future, there’s going to be a conflict between regulation and anonymity as the main emphasis of cryptocurrencies is to ensure that users remain anonymous.
What Is Binance?
It also offers programs for miners to help traders make investment decisions, and finally, Binance has its blockchain-based token, Binance Coin (BNB).
Why do I need a Binance account?
The Binance Exchange is a leading cryptocurrency exchange founded in 2017 in Hong Kong.
It features a strong focus on altcoin trading. Binance offers crypto-to-crypto trading in more than 600 cryptocurrencies. Here are some of the reasons why you need a Binance account.
1. Binance offers Quick Transactions.
The only reason why Binance continues to stay on top is the fact that it comes with lightning-fast transactions. Binance can process up to 1.4 million orders per second when you trade on the exchange.
2. Binance is Secure and Trustworthy.
Binance uses a multi-cluster and multi-tier system framework and the Secure Assets Fund for Users (SAFU) to keep your funds safe.
Binance already has millions of cryptocurrency users and dealers who rely on the platform and believe in the security and protection aspects of the exchange.
3. Binance allows you to trade Multiple Cryptocurrencies.
Binance as a cryptocurrency platform was built to trade as much altcoin as it can be provided they are not a scam.
Thanks to a rapid, secure, and low-cost transaction matching technology, you can trade more than 150 cryptocurrencies on the exchange with BNB.
4. Binance offers Trading discounts.
Using BNB, you can also get a 50% discount on your trading charge. With traditional payment methods, if you buy $10,000 worth of coins, you’ll be charged $10. If you use BNB, though, the trading charge is cut in half, so you’ll just have to spend $5.
5. Spending Binance Coin.
Binance has its native coin used in its blockchain and can be utilized in various ways, in addition to having a smooth experience within the Binance ecosystem and receiving transaction fee discounts. Several service providers accept it, particularly in the travel and hotel industries.
6. Binance enables anyone to participate in ICOs.
When a new token or coin is created Binance enables its launch via a process called ICOs (Initial coin offerings).
Binance Launchpad also offers new token sales, where you may buy a share in a new and future currency with your BNB tokens.
How do I Make Money Online With Binance?
Like other crypto exchanges, Binance offers services around the trading, listing, fundraising, and de-listing or withdrawal of cryptocurrencies.
Binance is used by a large number of traders and participants for exchanging and investing in various cryptocurrencies. Binance also offers various opportunities to make money via its platform for those who care to know.
1. Buy and hold cryptocurrency.
One way to make money on Binance is to buy and hold cryptocurrencies. Binance offers opportunities to buy as many altcoins as you might wish.
There are thousands of different cryptocurrencies, but experts say you should take a hard pass on most of them, at least to start. Crypto values fluctuate by the hour, and this can be especially true for lesser-known coins.
Bitcoin is the most valuable and widely held crypto on the market, and with prices reeling in the crypto and stock markets, now could be a good time to buy if you’re comfortable with the risks and interested in investing.
Are you new to the world of cryptocurrency? I wrote a comprehensive guide on how to get started as a beginner. Check out the link to the article below to learn more.
2. Become a Binance Affiliate.
It is one of the best crypto affiliate platforms out there. Binance offers a 50% discount on exchange fees when users use Binance’s native cryptocurrency. There are many affiliate programs available to users with a huge audience.
3. Day-trade Cryptocurrencies.
Day trading is a set of techniques used to take advantage of short-term changes in the prices of a commodity.
The goal of a day trader is to end any given trading day with their holdings having a higher value than they started with. To start trading, users have to complete the necessary KYC requirements.
Upon successful trading account creation, users can add cryptocurrency funds to their public wallet address, provided by Binance, to start trading. With an effective trading strategy, you can be on your way to crypto riches in no time.
But you first need to understand in-depth how to day trade crypto so you don’t make unnecessary losses. The difference between gambling and trading is an effective strategy.
I wrote a comprehensive guide on how to day-trade cryptocurrencies and make money. Check out the link to the article to learn more.
4. Buy and Sell NFTs.
NFTs are unique, limited in quantity and valuable due to their scarcity. NFTs make buying and selling in the digital world easy, as digital stuff can be bought and sold like any other piece of property without having a tangible form of their own.
Furthermore, NFTs could be used to track metadata, improve event ticketing and even transform real estate.
I wrote a comprehensive guide for beginners guide to NFT. Check out the link to the article to learn more.
5. Start a YouTube channel about Binance.
There are millions of cryptocurrency enthusiasts seeking to learn how they can make the most out of Binance.
Starting a YouTube channel can help enlighten a whole audience on how Binance works and how they can make the most of it. There’s practically an audience out there for every single topic you might be interested in.
I wrote a comprehensive guide on how to start a successful YouTube channel. Check out the link to the article to learn more.
6. Create a Token on Binance.
Just like Ethereum and other blockchains, Binance comes built-in with its blockchain and it is called Binance smart chain.
Binance Smart Chain (BSC) is a fork of the Ethereum mainnet, so they are slightly compatible. Binance tokens are the official token of the Binance smart chain, just like Ether is to Ethereum.
Anyone can create their token using the Binance smart chain and get it listed on Binance for free. It is important to note that BSC tokens allow swapping for the regular Binance Chain that conforms to the BEP-2 standard.
Transactions happening with these tokens on-chain require a fee payment in BNB. It is like compensation for validators to secure the network.
BSC tokens are compliant with the BEP-20 standard, which is similar to the ERC-20 Ethereum standard. Since BEP-20 and ERC-20 are almost identical, it’s compatible with both.
7. List your Token on Binance.
Binance’s list of assets is a table that consists of around 10,000 cryptocurrencies. The algorithm sorts these altcoins by their ranks.
Adding cryptocurrency to Binance’s list of assets is very simple. There is only one requirement. A token must get listed on the CoinMarketCap.
Thanks to the CoinMarketCap API, Binance retrieves the trade stats of the top 10K currencies from CoinMarketCap to construct its table.
Therefore, you don’t need to fill in any form to push a coin to Binance’s website. Everything works automatically.
8. Flexible Savings
Binance also comes with tons of opportunities to build a passive income on its platform, and one way it is achieving this is by utilising Flex savings.
Flexible savings allows you to Stake 24 popular tokens, including BTC, ETH, USDT, or BNB and earn interest and rewards.
With a total value locked of more than $3 billion, Flexible Savings is a go-to product for everyone.
9 BNB Vault.
If you acquired the Binance token on the Binance app, you can decide to make money with it by staking them with the BNB Vault aggregator that combines the best of Launchpool, Savings and Defi Staking. You can start investing with the little Binance token in your wallet.
With the launch pool, you can Stake BNB, BUSD, BTC, and other assets and receive the newest tokens coming to Binance as they are released.
Stay ahead of the curve and get your hands on some of the most popular upcoming IEO and Defi tokens, including the recent BTCST token on Launchpool.
11. Fixed Savings.
Fixed savings allows you to Save 24 popular tokens in crypto, including BTC, ETH, USDT, or BNB, for 7-90 day lock-up periods and earn increased yields on your stakes. You can subscribe anytime, but you can only redeem your rewards after the lock-up period.
12. Locked Staking.
Locked staking on Binance allows you to stake as little as 10 USDT worth of tokens and reap higher rewards and additional benefits.
Choose between 30 different Proof-of-Stake (POS) tokens including, EOS, DOT, or ADA, and earn rewards with little risk.
Binance rewards you for every activity carried on in its platform for everything you do such as staking and saving crypto.
All you need do is Complete the activity before it is fully subscribed and see your yield automatically appear in your spot wallet after the activity is complete.
14. ETH 2.0 Staking.
ETH 2.0 staking allows you to Stake Ethereum (ETH) and gets rewards for supporting the ETH 2.0 network upgrade.
15. Defi Staking.
Defi staking allows you to Stake BTC, BUSD, DAI, USDT, or BNB, and start yield farming. All funds and monitored by Binance’s real-time systems. Select between fixed and flexible terms.
16. Dual Investment.
With the dual investment, you get the chance to Lock BTC, USDT, or BUSD in a savings yield product, and increase your earnings even more with the volatility of market price on your crypto holdings.
If the market price on your crypto holdings dips or your earnings don’t exceed the savings rate, your holding may change to another asset.