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.
Will Fan Tokens Replace Memecoins Like Shiba Inu And Dogecoin?
Fan tokens are cryptocurrencies that aren’t necessarily backed by underlying value principles of Bitcoin or Ethereum.
Fan tokens are crypto assets that are issued by clubs, organizations, or teams for their fans. Ownership of these tokens allows you to get into the inner circle of fans. Holders get access to a variety of exclusive voting access on different polls that dictate team decisions. These polls relate to decisions for match locations, tour bus designs, promotions, rewards, and merchandise designs. Owing more tokens gives you more voting power, thereby, giving fans the ability to influence their favorite team. But here the question is, if fan tokens will replace memecoins like Shiba Inu and Dogecoin?
In football, several of the world’s biggest clubs including Barcelona, Atletico Madrid, Manchester City, Paris Saint-Germain, Juventus, Inter, Arsenal, AS Roma, Galatasaray, Flamengo, and Corinthians have launched Fan Tokens. Sevilla and River Plate are among the other clubs who will join the 60 other teams, using Fan Tokens.
Unlike NFTs, fan tokens are completely “fungible” or interchangeable. This means that, just like fiat or cash, the tokens can be exchanged for sports club merchandise, VIP experiences, and more. Additionally, they play an important role in tightening the club community with another team-branded piece of fandom.
The value of a token can be determined by its purpose and popularity, but as most tokens have a fixed or limited supply, their value is often related to supply and demand. But this is not always the case — with Ethereum for example, there is a fundamental intent to continue minting new tokens, covering transaction fees and executing smart contracts. However, speculation on the value of a token is (supposed to be) secondary to its actual use.
The Chiliz token is the first and most prominent fan token that has prompted an explosion of new tokens like the Manchester City Fan Token, AC Milan Fan Token, the Juventus Fan Token, and many more. These currencies have a brand new use case for crypto as innovation across the blockchain space reaches new highs.
How to Identify a Fan Token
Fan tokens generally are used as a part of fan clubs and sports clubs. They differ from other cryptos like Ethereum or Chainlink because they don’t solve the same financial or technical problems. In other words, they are more of a fun, rewards-based token.
Here are a few fan tokens that span both sports and music:
- KPOP Fan Token
- Professional Fighters League Fan Token
- Paris Saint-Germain Fan Token
- FC Barcelona Fan Token
- Galatasaray Fan Token
In conclusion, looking at the growing popularity of fan tokens one can say that these cryptocurrencies will definitely give hard time to memecoins like Shiba Inu and Dogecoin.
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Can Mushe Token (XMU) Achieve 10× Like Fantom (FTM) And Algorand (ALGO)?
Mushe Token (XMU) is looking to make sure blockchain technology becomes adopted by non-native crypto users
Mushe Token (XMU) is set to complete a 10× return on investment
Getting massive returns on investment is one of the main reasons many people invest in cryptocurrency. As a result of that, crypto enthusiasts are always looking out for cryptos that can offer them 10× investment.
Finding such coins is not easy, it’s either you get invested in trusted ones that have done this before or invest in newbies with massive potential.
Let’s take a look at some coins that have done 10× return on investment, with the potential to do another.
Fantom (FTM) is one crypto that has been trying everything possible to make sure it improves on its offerings. This increase has brought about good returns on investment for users who have been part of it.
Fantom (FTM) takes pride in its amazing transaction speed that is backed up with negligible fees.
The fact that it makes use of a Proof-of-stake consensus mechanism means it can attain huge numbers for speed.
The Proof-of-stake consensus mechanism is very popular among major blockchains that have impressive scalability. Its counterpart, proof-of-work is slower and more expensive.
Fantom (FTM) can easily complete transactions of over 10,000 transactions per second and it still won’t be congested or delayed. The platform is making plans to start offering speed up to 300,000 transactions per second soon.
This upgrade is could help it achieve that famous 10× in terms of investment returns.
Algorand (ALGO) is yet another coin that has given its users over 10× returns on investment since it came into power.
Algorand (ALGO) was created to help curb the issues of really slow transactions as well as heavy fees. It’s safe to say that it’s been living you to its name ever since creation.
Algorand (ALGO) has a permissionless protocol that allows it to carry out huge transactions at low fees with impressive speeds.
Mushe Token (XMU)
Mushe Token (XMU) is new crypto that has just entered the market. It’s been created to help complete peer-to-peer interactions. For new crypto, Mushe Token (XMU) has a lot to offer and that has led many crypto enthusiasts to believe that it could see price rises of 10× when it hits the market.
Mushe Token (XMU) is looking to make sure blockchain technology becomes adopted by non-native crypto users, thus making access to crypto offerings easier and smoother.
Mushe Token (XMU) is building a community that’s highly motivated, and ready to achieve all its goals with impressive community governance.
Mushe Token (XMU) is built on the Ethereum (ETH) and has announced its plan to enter the Stellar (XML) network soon. Its developers have confirmed that they’ve accepted to carry out this switch because of the relatively low transaction cost that is associated with the network. Stellar (XML) is well-known for its unique offerings in the financial industry.
Mushe Token (XMU) is also making plans to build their very own metaverse called the Musheverse. The Musheverse will basically contain everything game and NFT when completed.
Traders who wish to access Stellar (XML) can do so via Mushe Token (XMU) as it will offer them liquidity access inside and outside.
All of these offerings and impressive use case makes it clear to investors and crypto enthusiasts that Mushe Token (XMU) might be able to offer over 10× returns on investment.
To get the best out of it, feel free to join in early.
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Cyprus Drafts Crypto Rules, May Introduce Them Before EU Regulations
Cyprus has prepared its own legislation to regulate crypto assets and is likely to adopt it before Europe finalizes a common regulatory framework, a government official has indicated. The authorities in Nicosia welcome the “careful” use of cryptocurrencies, he added.
Government of Cyprus to Submit ‘Attractive’ Crypto Bill
Cyprus has an “enviable position” in the EU when it comes to innovation, with the second-best progress last year, according to the European Innovation Scoreboard, the country’s Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos stated at a meeting with the local fintech community. The event was devoted to digital assets, entrepreneurship and financial technology.
Commenting on the future of digital assets in Cyprus, including cryptocurrencies, the minister walked a fine line between embracing innovation and having to pay heed to laws, the Cyprus Mail wrote in a report on Thursday. Quoted by the English-language daily newspaper, Kokkinos elaborated:
I can tell you that Cyprus welcomes the use of digital and crypto assets, but we still need to be very careful and respect not only the regulations currently in place but also the absence of any regulations.
The government representative gave an example with Malta, the regulatory framework of witch attracted many crypto companies and investors but also led to increased scrutiny and investigations into some of its companies and banking institutions. “We have to be careful of the frameworks of the European Union since we are a member state,” Kokkinos emphasized.
The deputy minister then revealed that the Cyprus government has already drafted a “very attractive bill on crypto assets.” The legislation has been published and interested parties can review it, he pointed out. The executive power has also commissioned a New York-based firm to assist the island nation with the implementation of the regulations.
“Our challenge is not being aligned with the EU, it’s about the dilemma of whether to wait for the ECB to finalize their own regulatory framework or do we go alone on our own, with the former scenario also involving the possibility of that framework being overregulated,” Kyriacos Kokkinos remarked. “My answer is that we will go at it alone while respecting the rules,” he added.
The deputy minister acknowledged that certain challenges exist, including some disagreements between the government and the Central Bank of Cyprus (CBC). “We must remember that the CBC is subject to the ECB and central banks tend to be conservative, so our job is to challenge them through the debates we are having with them,” he told the audience at the event which took place in Larnaca.
Tags in this story
CBC, Central Bank, Crypto, crypto assets, Cryptocurrencies, Cryptocurrency, Cyprus, deputy minister, ECB, EU, European Union, Fintech, Government, innovations, legal framework, Regulation, Regulations, rules
Do you expect Cyprus to introduce crypto regulations before the European Union? Tell us in the comments section below.
Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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