Everybody today is coming into the field of cryptocurrency with the mindset of making money. But not all of us can make huge profits. Several people usually just give up on the way and tend to fall into some kind of trap that has led to a high rise in crypto scams as well. Honestly, there have been very few methods for making legitimate money through cryptocurrency, apart from the trading one that we all are aware of.
We are going to explore some of the ways by which you can make money with crypto on Binance. These are impressive and will completely change your understanding of making money online through crypto.
We can see that the cryptocurrency craze has become extreme. Some of the best cryptocurrency keeps growing and also the opportunities of money-making. More people are joining in for making money and at times keeping up with the trend gets tough.
Were you aware that there are easier, efficient, and much safer ways of generating income through cryptocurrency? Here we shall be taking a look at the ways by which you can use Binance Earn for cashing out through Binance P2P.
Without waiting any longer let’s take a look at the top ways of making money through Crypto on Binance!
What’s Binance P2P?
Binance P2P is the cryptocurrency exchange that has led to the winning trust of users across the world. The full form of P2P is ‘Peer to Peer’. This means that the trading procedure takes place between the buying and the selling party directly.
There isn’t a need for engaging with any mediation of a third party as the role gets assumed through exchange and it ensures that there is safer conduct of each transaction. Users stay protected from any kind of fraud through the mechanism of the platform. This is not going to conduct any kind of transaction until both of the parties confirm that the underlying terms are met.
The procedure seems similar to exchange, where the users are giving away specific currency and receiving another one in exchange.
How Does This Work?
This is in reality a much simpler process similar to any other transaction that we do in real life.
- You are posting the offer with specific parameters and this includes mode of payment, price, and amount.
- Then the buyer accepts the offer and then funds the wallet you have gets temporarily frozen.
- The transaction gets registered on Binance and your buyer has to complete the payment within a specific duration. After which the payment is confirmed and the frozen asset gets released from custody and gets deposited on your buyer’s account.
While the process takes place, the Binance platform for P2P has very small roles, those results in the reduction of commission fees. But this also offers the users a higher degree of staying protected from the sellers and buyers that are dishonest.
In over 180 countries currently, Binance P2P is available and this allows users from around the world to have a safe and fast cryptocurrency trade with minimal fees involvement. Additionally, a large number of digital assets and currencies are supported by Binance P2P for meeting the user’s requirements.
What’s Binance Earn?
Binance Earn allows the users of the platform without the need for much knowledge, effort or time to earn money. This is an opportunity for passive income that can help the users for making profits from not just HODLing but by also growing it.
How To Generate Income Through Binance Earn?
There are many ways of generating income through the use of Binance Earn. We shall be taking a look at all of them separately right here.
1. Flexible Savings
This is the method involving receiving the interest rewards for keeping the fund in your wallet. In case the user changes their mind they have the choice of withdrawing their deposits at any time. This isn’t a bad option for a person that has temporarily idle money with them.
2. Locked Savings
This is a similar way to flexible saving but can differ through offering better interest rates and limited access for the frozen assets. In such cases, the fund gets blocked for a specific duration mostly from 7 days to 90. And this is the time where funds cannot be used.
3. Activities
These stay the offers and events that are valid for a specific duration only. These often provide higher profits when compared with locked savings. But it is going to need the users for keeping an eye on such events so that the opportunity doesn’t get missed.
4. Locked Staking
This is the kind of method that offers rewards for the exchange of your staking crypto. Coin staking for some of the users provides higher flexibility for managing staked crypto and also the locked stake releases the user fun after about 48 to 72 hours.
5. Launchpool
This is the platform for mining your new tokens that have been just launched on exchange. The users can also send the funds to the pool for mining new tokens, thus financing the launch. The assets invested get blocked, but the users don’t lose control and can withdraw it any moment they need.
6. Dual Investments
This is the method that allows the users for being exposed to two currencies. This is in exchange for a significantly higher yield in a short duration. The users also have the flexibility of choosing the desired APY, strike process, and deposit duration. The returns are going to be in one of the two currencies as per the conditions.
Bottom Line:
Binance Earn offers several tools that can help you in generating a passive income. It’s highly recommended for beginners as this makes them accustomed to the intuitive interface of the platform easily. So if you had been searching for ways of generating returns of your cryptocurrency, you are aware of where you need to find it. Binance makes sure that all transactions stay secure and you don’t have to worry about any mishaps!
