In this post, I shared how I made 28 million naira on Binance.
Binance is the world’s largest cryptocurrency exchange with over $13 billion in trading volume.
There are massive money-making opportunities in this exchange.
I will explain the top 5 strategies to make money on Binance. Strategy number 5 earned me ₦28 million.
Also, I will show you exactly how you can make the same amount or more for yourself step-by-step.
If you want to become a millionaire like me, make sure to read this post to the end.
Post Summary
This is what I covered:
Note:
This post has two parts, and this is the first one.
Make sure you keep an eye out for the next part that will be published soon.
Top 5 Ways To Make Money On Binance
Everything I want to discuss in this post is covered in this 13-minute video. You can watch it or continue with your reading.
(1) Binance Staking
To make money from Binance staking, you need to lock up a specified coin for some time, and you will earn more coins in return.
I will show you how to do it below.
How to stake on Binance: Step-by-step
- Log into your Binance account and click on “Earn” and select “Staking”
If you do not have a Binance account, sign up with this link.
- Under “Locked Staking,” you will see various coins that you can stake, the estimated APR, the duration, and the minimum locked amount.
You can click “Expand staking products” to see more coins.
- Select the coin you want to stake and click “Stake now”. For this example, we will select Theta.
Do note that you must have bought the coin and have it in your Binance wallet before you proceed.
- Click on “Stake Now”. A form will display. Fill it out and click “Confirm”.
You have staked your coin!
At the end of the duration, your coin with the accrued APR will be sent to your wallet or re-staked if you switched on the “Auto-Staking” button while filling out the form.
Note:
- It is possible to earn BTC through Binance staking if the coin you want to stake has an “Airdrop BTC” tag.
- If a coin has a “Sold out” tag, it means you cannot stake that coin at the moment.
This is how to make money from Binance staking. See the next option below!
(2) Dual Investment Product On Binance
Binance Dual Investment allows you to make money by either buying a coin at a low price or selling it at a high price.
In the Binance dual investment product, you will find two relevant terms:
- Settlement date: As the name implies, it is the day that the investment expires or is settled.
- Target Price: It is the price a coin is anticipated to hit on the settlement day
Let me explain further using “Sell High”, one of the available products.
Assume it is August 23, 2022; you have some BTC, the price is worth $21,000 and you want to invest it in the Binance dual investment.
As indicated on Binance, the “settlement date” is 2022/08/26, while the target price is $23,000.
If you go ahead and invest, what happens is that your BTC will be deposited into the product and locked there until the settlement date.
Two things will happen when the settlement date is reached:
- If the price of BTC hits $23,000, it will be sold and you will receive stablecoin with the interest the coin accrued while it was locked.
- If the price fails to hit $23,000, you will get back your BTC with the interest the coin accrued while it was locked.
How to invest in Binance Dual Investment Product: Step-by-step
- Click “Earn” and select “Dual Investment.”
- Select the coin you want to invest in the program.
- Select the product you want to invest in and a “settlement date”. Then click “Subscribe”.
- Follow the prompts to complete your investment.
(3) Binance Auto-Invest
Binance Auto-Invest helps you automate the DCA strategy.
DCA is an investment strategy in which you buy a coin with a fixed amount of money at regular intervals, say every week or every month, regardless of the coin’s price.
Also Read: What is Dollar–Cost Averaging(DCA)? | Why You Should Start Using This Investment Strategy
I have used this strategy to make ₦14 million with ₦20,000 monthly investments over the period of three years.
How to invest in Binance Auto-Invest: Step-by-step:
- Click “Earn” and select “Auto-Invest”
- Scroll down and select the coin you want to invest in (over 60 coins are available), then click “Create Plan.”
- A form will pop up, fill out the necessary details and click “Confirm.”
Your “Auto Investment” plan has been created! The coins bought are transferred to your savings account where they accumulate interest for you.
Note:
- Make sure you have the investment amount in your spot wallet before the next reinvestment interval
- If you do not have it, Binance will redeem it from your savings account.
You can read this post for a clearer understanding of Binance Auto-Invest.
(4) ETH 2.0 Staking On Binance
It’s no longer news that Ethereum is transitioning from POW to POS.
This now makes it possible for ETH fans to stake their ETH to support the network and earn staking rewards.
With ETH 2.0 staking on Binance, you can stake ETH and earn up to 5.2% APR.
However, when you stake your ETH, you cannot withdraw it until Ethereum completely transitions to POS. Gratefully, the Merge is drawing close.
For the time being, you can only redeem your staked ETH for the BETH token, which is a tokenized version of ETH on Binance.
In addition, you can use BETH to generate more earnings through staking and liquidity mining.
How to invest in ETH 2.0: Step-by-step:
- Click “Earn” and select “ETH 2.0”
- Click on “Stake Now”. Fill out the form and click “Confirm”.
Sign up for a Binance account.
(5) Binance Referral Program – How I Made 28 Million Naira On Binance
This strategy that I am about to unveil is what I have used to make over 28 million naira on Binance.
Binance pays you an affiliate commission if you bring new users to trade on its platform.
You see, Binance charges between 0.1% to 0.075% on trading fees.
If it happens that you referred one of the traders, Binance will share the trader’s fee and give you part of it every time he makes a trade.
To qualify for the Binance referral program, you need to create a Binance account and verify it.
Also, invite people to sign up for Binance using your link.
Here is the screenshot of the money I made from the Binance referral program.
You see that I have made up to 1.8 BTC, right?
Now, let’s do some calculations:
The price of BTC at the time of writing this post is $24,000. And the exchange rate for USD to Naira is about ₦650.
So, 1.8 x 24,000 = 43,200. 43,200 x 650 = 28,080,000.
You can now see that I made over $28 million naira just by referring people to Binance.
Also Read: Top 10 Crypto Affiliate Programs With The Highest Commission – 2022 Review
Below, I will show you how to get people to sign up for Binance using your referral link.
How to get people to trade on Binance using your referral link:
- Do not ask people to join Binance without giving them your referral link to sign up
- Learn how to trade on Binance and teach people how to do so, then leave your referral link for them to sign up.
- Organize a free class with a pre-criteria to create a Binance account with your link to join
- Make Youtube video tutorials on how to trade on Binance and drop your referral link.
- Create a free account on Medium and write relevant content about Binance and leave your referral link for readers to sign up.
Let’s meet at the next section!
Hey! Do You Want To Learn How To Trade?
We developed a perfect course to help you trade cryptocurrencies profitably and master Cryptocurrency Trading.
Go to www.afibie.com to enroll.
You can also join our Telegram community at https://t.me/afibie for more information.
Conclusion
It’s time to call it a wrap!
I made over 28 million naira on Binance just by referring new users. Wow!
Making money on Binance is that simple only that you need to put in the work.
As earlier stated, there are many money-making opportunities on Binance.
You can choose from any of the options that I shared in this post.
It’s amazing that I was able to generate that much money with only one of those strategies.
Now, I would like to hear from you.
Would you love to make money on Binance?
Have you used any of these top 5 ways to make money on Binance before?
Have you ever made a million naira from Binance? Tell us about it in the comments section.
If you found value in this post, share it with your friends by clicking the “SM” buttons below. Thank you!
0 Comments