How to Make Money on Binance

 

       If you are looking for a way to make money on Binance or through cryptocurrency, your search has ended here because I'm going to take you through a step-by-step on how to make money online or cryptocurrency on the Binance exchange platform. Without wasting any time let's get started.

  Step 1 - Go to the website

  Like any other web or mobile application, click on the URL link that will take you to the Binance website.

Step 2 - Sign Up

Sign up the way you would do on any other website. i.e submit your details the way it is done in the picture below.

KYC ( Know your Customer) part is also very important so that you can get your account verified; verify your email, number, address, and identity (use a government-approved identity).

Step 3 - Fund your wallet

Binance has made easy it easy to fund your wallet directly from your the linked bank account. All you have to do is to click on the deposit button and choose the option to fund from your bank account but you're in a country where trading cryptocurrency is illegal, I will advise you to use the peer-to-peer Trading method. After that, pick the type of coin you want to buy e.g. BTC against the fiat currency of your country. Follow other instructions as they pop up from your screen.

Step 4 - Start Trading (Make Money)

Now that your wallet is funded, you will notice that your cryptocurrency is showing in your funding wallet (i.e. if you click on the wallet tab/button, you will see different options - spot, funding, etc. Click on funding wallet )

     You can make money in several ways on Binance, one of it is peer-to-peer, another one is spot trading, earn, and so on. Here, I will focus on the three aforementioned ways.

        Peer-to-peer: Like the name sounds it means selling and buying from individual traders. Confirm the rate at which you bought your first cryptocurrency e.g BTC/NGN @ NGN27,345,456 you wait till the price goes up a little bit (like NGN27,345, 550 ) then sell. Again, wait till the price comes down ( like 27,345,400) again then you buy. You can do this as many times as possible in a day. One disadvantage about peer-to-peer is that you can only sell when you have a minimum of $100 but don't worry if don't have up to $100 you can participate in the next one I'm going to mention.

    

        Spot Trading - For the sake of those who don't have up to a minimum of $100 I congratulate you because spot trading is another opportunity for you to trade and make money. 

      Firstly, you need to move your funds from funding wallet to spot wallet. See the pictures below to see how it's done.

Now to trade, reconfirm the price rate you bought the crypto. You should know by now that you're selling your crypto and not buying? To do that, select the peer of BTC (BTC/NGN) you're selling at the top corner left of your screen. Make sure it's the sell option (left side of the screen) you've picked. Look at the order book on the right of the screen, see if the price has risen e.g BTC/NGN bought @ 27,345,456 to NGN 27,345, 550. Make sure you're on market price then go in with 50% for now and click on sell, you've made yourself some cool cash.

Investment 

 One of the reasons while some people prefer Investment is because they are the busy type or they work in an organization where the chance of daily trading is slim, If you're in this category, you can earn by investment. Under this category, click on the earn button from the Binance homepage, then you will see that the guaranteed option has been selected as the default option for you. There are different options under this option like; Autosave, saving, BNB Vault, etc.

 I will recommend saving because, under this category, there's 0% risk for you if you invest your money. Subscribe to any one of your interests and according to your cryptocurrency, start reaping your interest day in day out.