How can you make money in cryptocurrency? In this regard, I want to share my views with you. especially for the newcomers who do not know how to earn money from crypto currency.
We can earn from cryptocurrency in five different ways. One of these five methods is trading.
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If you want to trade through Binance, Binance allows its users to trade in three ways: one is margin trading, the other is spot trading, and the third is called futures trading. Let me first explain spot trading for you. Let's suppose you have $100. You bought $100 worth of BTC. So, as many dollars as you have to buy coins, the more you give, the more you will get.
Similarly, if you have a coin and want to convert it to a dollar, So the more you give coins and the more value you get in dollars, it is called spot trading. On the other hand, if we talk about margin trading or future trading, it gives us leverage for trading pair of 2Xor 5X and more.
It means that if you use those pairs for trading on Binance, Binance will give you the same multiple leverage. If you trade twice with $100 on Binance, Binance will give you $100 more free of charge for trading. If you trade on margin, you borrow leverage from Binance. If you stay in margin trading, Binance will charge you an hourly trading fee.
Future trading means that on a specific date, you bought a
futures contract for 100 shares of
any coin at a price of $50 per
share. Regardless of the current price that is in effect, you will receive the shares that you agreed to purchase for $50 when the contract ends.
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I want to tell you which kind of trading is beneficial: spot trading, margin trading, or future trading. In my view, spot trading is beneficial. I recommend spot trading because, in spot trading, your money won't be lost, although the coin will devalue, but your money is safe. but in margin and future trading if you invest $50 in leverage 2X. If the coin devalues by about 50 percent, you will lose all your money.
The other way of earning is staking. You may earn through staking crypto. The third method is saving. You can keep your currency on any blockchain for some time, and the blockchain shares the profit with you according to the time.
The fourth method in cryptocurrency is mining.
The last way to earn in crypto currency is through investment. You can buy any currency and leave it for a long time. After a few months or years, you can take advantage of its profits.
The content I shared with you guys is based on my education and knowlede. I wish you people will appreciate this post and reblog if you like it. Thanks for sticking till the end.
