21 best ways to earn Crypto income on binance
Binance Cryptocurrency exchange has grown so big in recent years that a lot of individual traders, both businesses rely on it as a means of livelyhood, The Ceo of binance ”Changpeng Zhao” was recently listed as top richest people in the wolrd due to the expansions and massive growth of the company. Binance grew from crypto to crypto trading platform to a comprehensive crypto ecosystem that offers a multitude of earning opportunities. In this article, we have Reviewed all the financial services and benefits offered by Binance.
Since the exchange’s launch in July 2017, Binance has constantly grown its product suite to offer you more ways to use crypto to earn and grow your assets. While it has started as a straightforward cryptocurrency spot trading platform, it has since expanded into many services.
Regardless of how many products the exchange has launched, it says that it has created all of them in the pursuit of one vision: to give people more freedom with the way we use our money. In this article, we’ll give you a framework from which everyone can understand the different solutions Binance offers from passive earning to trading.
Major trading and earning Options:
While Binance began as a crypto-to-crypto exchange, it has since evolved and started offering more ways for people to get started with crypto. It all starts with the direct-to-customer features and platforms everyone can use.
1. Spot Trading: Spot trading involves directly purchasing or selling financial instruments and assets such as cryptocurrencies, forex, stocks, or bonds. Delivery of the asset is often immediate. Spot trading occurs in spot markets, which are either exchange-based or over-the-counter (directly between traders). When trading on spot markets, you can only use assets you own – there is no leverage or margin.
2. Margin Trading: Margin trading is a way of using funds provided by a third party to conduct asset transactions. Compared with regular trading accounts, margin trading accounts allow traders to obtain more funds and support them in using positions.
3. Futures Trading: In futures trading, you can participate in market movements and make a profit by going long or short on a futures contract. You can go long or short with leverage to reduce risk or seek profits in volatile markets.
4. Options Trading: Binance’s Crypto options are a form of derivative contract that provides the purchaser with the right to buy or sell an asset at a determined price and date. A “call” option refers to the buying right, while a “put” option connotes the selling right.
6. Buy Crypto: This platform allows people to use their credit or debit cards to purchase cryptocurrencies directly on Binance.
7. Binance Card: Binance card was meant for people who wish to spend crypto to real cash anywhere and it supports over 60 million merchants worldwide, all while providing significant cashback rewards of up to 8%.
Binance also provides the means for institutions and other organizations to harness the benefits of crypto. This is more in line with the infrastructure-building part of our vision.
8. OTC Trading: Designed to help institutional investors, over-the-counter trading gives large-volume traders an option to trade without affecting prices in the open market.
9. Binance Broker: Binance Broker Program enables enterprise clients to build their business with Binance technology while earning commission from trading fees by leveraging Binance’s liquidity and market depth.
10. Binance Access: This is a business-to-business (B2B) solution for merchants, vendors, and wallets to enable native fiat-to-crypto exchange.
11. Binance Widget: The exchange provides website owners with a widget where people can buy crypto on Binance via their webpages, while earning commissions.
12. Binance Cloud: Binance provides the technology needed to launch local trading solutions, such as Binance.KR and Binance.TR, among others.
Crypto-Powered Finance and Wealth Management
While trading still is the main source of crypto earnings for most users, Binance has also introduced various crypto-finance services, including several wealth management products.
These crypto-finance solutions range from basic savings products with fixed interest rates to innovative offerings that share many characteristics with DeFi (decentralized finance). Regardless of their variety, these solutions all offer avenues for enhancing your crypto holdings when you don’t trade them.
13. Binance Savings. This is a simple and secure way for you to accrue interest on cryptocurrency savings. Access either Flexible Savings, which you can deposit to and redeem from anytime while still offering percentage in yearly interest depending on what assets you subscribed, or Locked Savings, which you can opt into for higher-interest on a long-term savings.
14. Binance Staking: Just by holding your crypto tokens in Binance, you can benefit from staking programs for various supported cryptocurrencies, no questions asked, with up to 12% in estimated annual yields. You can also opt in to Locked Staking products where you can secure assets for a period of time to secure up to 46% in estimated annual yields.
15. Binance Pool: Now one of the biggest cryptocurrency mining platforms in the world, Binance Pool connects crypto miners to Binance’s suite of financial products, while offering lower fees, increased rewards, and exclusive savings opportunities that feature up to 30% in annualized interest.
16. Binance Launchpool: Launchpool is a platform that allows you to use your tokens to farm new, free tokens.
The number of tokens you can collect per day will depend on the number of tokens you register to the pool and the total number of tokens registered to the pool.
17. BSwap: This automated market maker (AMM) pool product, the first of its kind for a centralized exchange, lets users pool tokens for easy earning and instant liquidity. All participants earn from trading activities inside this liquidity pool, which currently supports the following stablecoins: USDT, BUSD, USDC, DAI and many other pers. The platform combines the earning characteristics of a DeFi pool with the convenience and security of Binance.
20. DeFi Staking: With this feature, Binance grants earnings to users who opt to participate in certain DeFi solutions and alleviates them of the burden of having to transfer funds into complicated channels. DeFi staking users get access to as much as 13.33% in estimated annual yields.
More details on DeFi staking, interest earnings and supported assets can be found here >>
Disclaimer: The information provided on this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice. WebChennel does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
Crypto Tax Calculating Tool: To Streamline The Taxing Experience
Crypto calculating tool streamlines the taxing experience making it simpler for crypto investors to estimate tax liabilities depending on their particular jurisdiction
One of the biggest cryptocurrency exchanges in the world, Binance, has launched a tax calculation tool to assist customers in figuring out their tax liabilities for cryptocurrency transactions. Crypto calculating tool streamlines the taxing experience and also assists users in adhering to crypto tax laws and makes it simpler for them to declare their cryptocurrency transactions. The Crypto tax calculating tool supports reporting up to 100,000 transactions and is initially only available to users in Canada and France. Future ambitions for Binance include bringing the tool to further regions.
This action underscores a rising trend among governments to ensure they gain income from the booming bitcoin market. In recent months, a number of nations have imposed tougher regulations on the taxation of crypto assets, showing a rising desire to extort money from the sector. For instance, India has reinforced its cryptocurrency tax laws by including a penalty of prison time of up to 7 years for non-compliance with reporting standards.
This new cryptocurrency tax computation tool from Binance serves as a lifesaver in the context of the challenging tax consequences around the world. By making it simpler for users to estimate their tax liabilities depending on their particular jurisdiction, the tool can minimize the likelihood that they will be subject to penalties or fines for non-compliance. It is indeed crucial to keep in mind that the tool is only an approximation and may not always be precise. It is still the individual’s obligation to make sure they are in conformity with local tax laws and to seek advice from a tax specialist if they have any queries or concerns.
The post Crypto Tax Calculating Tool: To Streamline the Taxing Experience appeared first on Analytics Insight.
This Play To Earn NFT Crypto Game Is Challenging Axie Infinity
The best kept secret in NFT play to earn gaming is likely to be the big blockchain story of 2023
Over the past few years, we have seen an explosion in play to earn gaming. According to LinkedIn, play-to-earn NFT gaming has an annual growth rate of 20%. Because of that, there is lots of attention paid to popular games such as Axie Infinity. However, a meme-focused NFT play-2-earn game by offering outsized returns due to its cat-themed addictive gameplay
A Familiar Play to Earn Format With a Cat-Themed Twist
Rise of Cats is a popular NFT play-to-earn nft crypto game which allows players to collect 50 different cats with special skill sets. Players can battle cats and earn amazing awards. The secret to this game’s popularity is capitalizing on the popularity of cats and ease of gameplay. Because of this, we expect to see a large number of first-time NFT gamers get into the Rise of Cats world.
Fast-Paced Co-Op Gaming Experience
Market research has shown that young gamers want a fast gameplay experience with outcomes resolved in under five minutes. That’s why Rise of Cat’s gameplay battles last an average of three minutes. This will likely attract a large number of casual gamers and lead to faster growth for the in-game currency.
Fully Planned Roadmap
Unlike many other play-to-earn nft crypto blockchains games, Rise of Cats has a fully realized roadmap that includes multiple NFT auctions and the launch of a Rise of Cats NFt decentralized exchange. Also, the game is managed by the Catecoin team to ensure that all events in the roadmap and launched on time.
Rise of Cat’s In-Game Currency Has True 100x Potential
Rise of Cat uses the fast-growing Catecoin meme coin as in-game currency. Over the past few years, Catecoin has seen an exponential explosion in value due to its status as the first true cat-themed meme coin. In fact, many large investors are speculating that Catecoin could become the next Dogecoin or Shiba Inu with 100x growth potential during the next crypto bull market.
Joining the Rise of Cats Herd
If you would like to learn more about Rise of Cats and its in-game currency Catecoin, be sure to visit the game’s official website. Here you will find a complete breakdown of the game, the in-game currency Catecoin and the long-term roadmap.
The post This Play to Earn NFT Crypto Game is Challenging Axie Infinity appeared first on Analytics Insight.
FTX Debtors Demand Return Of Funds Given To US Politicians And Super PACs
FTX debtors are seeking to claw back millions of dollars given to U.S. political action committees (PACs) and political figures. Confidential letters have been sent to individuals and organizations, requesting the return of the funds by Feb. 28, 2023. Some bureaucrats, such as Democratic Senators Joe Manchin and Tina Smith, have already pledged the funds to charity. It is uncertain whether they will be required by law to repay the funds to the now-bankrupt FTX estate.
US Political Elite Under Pressure to Repay FTX Contributions Before Deadline
It is widely recognized that lawmakers in Washington, D.C. and U.S. political action committees received significant funds from FTX, its co-founder Sam Bankman-Fried (SBF), and top executives. Estimates indicate that SBF and the FTX team donated an estimated $90 million to U.S. bureaucrats and political organizations since the exchange’s inception. For example, SBF and former FTX executives Nishad Singh and Ryan Salame donated roughly $70.1 million to the Democratic and Republican parties for the 2022 midterm election cycle.
A press release, dated Feb. 5, states that FTX debtors aim to retrieve funds distributed among Washington, D.C.’s political elite. The announcement reads, “FTX debtors are sending confidential messages to political figures, political action committees, and other recipients of contributions or payments made by or under the direction of the FTX debtors, Samuel Bankman-Fried, or other officers.” It also states that “recipients are requested to return the funds to the FTX debtors by Feb. 28, 2023.”
FTX debtors specify that the funds can be returned through a designated email account by the specified date. The bankrupt estate states that it reserves the right to “initiate actions in bankruptcy court to demand the return of these payments, along with interest accruing from the date of initiation.” In addition to the press release from FTX debtors, the Twitter account “Unusual Whales” released a list of U.S. bureaucrats and political action committees that are believed to have received funding from SBF and top executives of FTX.
“There was not a list of the politicians they gave money to, and the amounts, until now,” tweeted Unusual Whales. The information can be verified through the U.S. Federal Elections Commission (FEC) and Coindesk’s research, which estimates that one in three members of Congress received funds from SBF or senior FTX staff.
Prior to the press release and the release of the list of American politicians who accepted funding from FTX’s leaders, some bureaucrats chose to redirect the donations to charity. For example, Republican senators John Boozman and Bill Cassidy announced their intention to donate the funds to charitable organizations. Democratic senators Joe Manchin and Tina Smith also donated funds to specific charities after the collapse of FTX.
Smith, a Democrat from Minnesota, told the media she had “serious concerns about cryptocurrency and the financial risks it poses for retail investors.” However, during the election cycle, Minnesota representative Angie Craig and senator Tina Smith had no issues accepting $2,900 each before the exchange failed. It is unclear who directed these politicians or why they decided to donate the funds to charity instead of returning them to the bankrupt estate, which owes billions to the retail investors that these bureaucrats claim to care about.
Tags in this story
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What do you think about the move by FTX debtors to reclaim funds from U.S. political figures and action committees? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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