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💰 How to earn from Binance

This is my experience while fooling around Binance Defi (actually it’s kinda Cefi), This is not a financial advice! Make your own mind don’t blame me!

katopz
Coinmonks
Published in
4 min readApr 14, 2021

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2021 rate = 6%

Prerequisites

  1. Binance account // this is my ref if you please 👉 https://www.binance.com/en/register?ref=13135950
  2. Make some deposit which money you can lose.
  3. Stop saying no to Defi, it’s not scam it’s a future.

First thing First

  • There are many way to lose and gain your money there. We will focus at “earn” not “trade” or something else.
  • If you deposit through P2P, move it to Fiat/Spot wallet and click “earn” from there will be easier.
  • After done saving, your balance will be move to “earn” menu.

TLDR

🌈 Low Risk : Just saving

Buy USDT or BUSD and transfer to… saving

  1. Flex saving if you want to redeem back anytime (for trade).
  2. Locked saving if you want to redeem back later after 7–90 days.
Flexible result
Locked result

This is good but this is stable coin so let’s take more risk!

🌈 Medium Risk : Saving and Stake

Buy some coin/token you like e.g. BTC, BNB, ETH, DOT, CAKE and stake for some period of time you can miss.

pick one
flexible saving result
locked staking result

BTW : If it’s not listed there, maybe it’s has been sold out, do check back later.

Awww, sold out!
Get 0.1 CAKE = $2.2 in 30 Days

The risk is come from coin/token price itself.

🌈 High Risk : Liquid Swap

Go for liquid swap with any pair you like, buy some at minimum and go for it. As you can see their is some impermanent loss below for BNB/ETH .

Add BUSD/USDT

If you have only USDT, You can swap USDT to BUSD before add to pool.

BNB/ETH is…not cool

As you can see BNB/ETH is bad BUSD/USDT is good. Risky!

Cool!

On the bright side, I got stream of BNB flow back for my gas development cost (And yes! I’m back to the Blockchain Development after 3…4 years past! )

The risk is come from impermanent loss and missing a chance to make profit due to locked period.

🌈 Super High Risk :

There’s a lot of menu left there but I won’t go that far, This is just an experiment. I’m rather back to coding… 🌝

Bye 🤚

That’s it! If you want to give me a cup of coffee ☕️ here’s my wallet. 👇

ETH : 0xD63eCF4Fa7ef94ea4E9CF7429Af6a4F482B447B7
BNB(bsc) : 0x0c62B13f8116eBA444DeFdE842aBd7d1f68F964f
BNB(bc) : bnb1uqht090p2fjs9dr2umh5w5ykm697srgr70xkat

Thanks!

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Also, Read

Binance
Blockchain
Defi

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katopz
Coinmonks

Written by katopz

1.5K Followers
Writer for

Rustacean 🦀👉 https://gist.rs

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