Binance as the leading crypto exchange in the world, has a lot to offer. It supports different types of crypto trading, including spot, margin, and the rest. It is also one of the best platforms for peer to peer trading, but there are many other ways you can use it to make money.
Whether you’re a newbie just starting out in the crypto space or you’re a veteran crypto investor/trader, there’s something for you in this guide. Here are five of the easiest ways you can make money on Binance, no matter who you are, or your experience level.
Binance Staking
If you’re not an experienced trader and want to just buy and hold crypto, you can do that and it is a lot safer than risking your portfolio in actual trades. But how would you like it if you can earn more on your portfolio doing nothing with it?
You can do that through Binance Staking. Just by holding your tokens on the exchange, you can reap the benefits of staking for selected tokens. This staking program can rake in up to 12% annual yield on your crypto holdings, which is far better than just holding them.
Another option is the locked in staking program where your tokens are used to provide liquidity for a certain length of time. This one can bring you up to 46% returns after the period elapses. The best part is that you don’t need to do anything, your tokens just go to work for you.
Binance Pool
Have you heard of mining pools before? Yes, Binance has one too. Binance pool is one of the biggest crypto mining pools in the world, which is not surprising since it is the largest crypto exchange as well. It brings together miners from all over the world to Binance’s suite of financial products.
They get to mine passively without any active engagement, as well as enjoy lower fees, increased rewards, and exclusive savings opportunities that pay up to 30% in annualized interest.
If you’re interested in Bitcoin mining but without the financial or technical knowledge to do it yourself, Binance Pool is a good place to start.
Binance Launchpool
Binance Launchpool is a newly launched platform that allows you to hold your crypto tokens in a pool. That way, you get to earn more tokens as time passes, similar to Binance staking. You also get to benefit from new token offerings in which you can earn over 74% in rewards.
You can stake tokens such as Binance’s stablecoin BUSD, and many other supported ones to earn new tokens from projects that launch on the launchpool.
Binance Savings
Binance presents another opportunity in which you can earn by saving crypto tokens on the exchange. You literally don’t have to do anything and enjoy interest that accrues on your crypto portfolio in the savings program.
You can choose the Flexible Savings program which allows you to deposit or withdraw your savings at anytime with 5.34% annual interest, or you can go for the Locked Savings program. This one locks your tokens for a period of time during which you can’t withdraw, but offers higher annual interest of 6.31%.
B Swap
B Swap is an automated market maker (MMM) that allows users to pool tokens for easy earning and instant liquidity. B Swap is the first of its kind to be owned by a centralized exchange. It has the advantage of combining the security of Binance exchange and the earning potential of a decentralized platform.
If you participate in the pool, you will earn from all trading activities within it. Supported tokens are USDT, BUSD, USDC, and DAI.
Conclusion
These are the earning opportunities available on Binance that anyone can take advantage of, and you can start earning from them today. Again, none of them require any technical skills, so you don’t have to worry even if you’re new to the platform.
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