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Passive Income: Earn while doing nothing!

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Avatar for Laurenceuuu
Written by   248
2 months ago

April 10, 2021

This week is full of bull and many coins even altcoins reached their new ATH and many people, traders, and holders got more profit from the bull run. In my case, I also got a little profit from holding and selling my Bitcoin Cash so I will also get a profit and buy again once the bears are coming. Well, I got a total of $98 as a profit and currently holding it while waiting for the dip.

Since bitcoin.com swapping feature wasn’t working that time, I sent my BCH (the profit) to my Binance account then sold it there into USDT. As of now, I can’t buy again since BCH is still flying so we need to be more patient. We all know that USDT is moving (the price) slowly to the point that it is consider as a stable coin, we can gain a profit by holding it even in a long time so I had an idea on how can I have a passive income while holding my USDT in my Binance account, I put it to my earnings and earn 6.00% APY interest by holding it.

If you still don’t have a Binance account, SIGN UP NOW BY CLICKING THIS

This content is for beginners who wants to earn a passive income while waiting for the dip and afraid in trading so you can avoid much risky, before I start, let me remind you that this is not a financial advice. Always DO YOUR OWN RESEARCH so you are not going to blame anyone once you had a loss.

HOW TO HAVE A PASSIVE INCOME IN BINANCE?

I will use a photo so you will visualize what I am saying and to make this tutorial easier.

This tutorial is easy as what you think, firstly, you need to go on your Binance account and click Earn tab. After that, you will see a Buy products button (yellow) then click it.

Once you clicked the Buy products, you will be redirected on a new page, you need to choose Flexible Terms and Flexible savings. We will use flexible savings so we can withdraw it anytime. Now, you need to click on USDT.

Then obviously, click Transfer.

Now, you need to fill in the investment form so you can invest depends on what you afford. Simply click the Max button if you want to invest all of your USDT, Click the Checkbox if you are agree on their Terms and Conditions, then click Transfer Confirmed.

Once the transaction is done, you can go back to your Earn tab and find your savings. Now, when you clicked it, they will ask you if you want to turn on the auto-subscribe feature where all the balance of your spot account will directly send to your flexible savings.

Auto-subscribe – Every day at 02:00 (UTC+0), we will use the available balance of all Spot Accounts to purchase flexible Deposits.

—Binance

Then that’s it! You will have a passive income while you are waiting for the bears. However, this technique has only few interest (6.00% APY), well, we should be contented since it is the “Safest-risk” to invest, riskier means high return. On the other hand, lower risk means low return, it depends on you on what will you choose.

Read the FAQs:

Interest calculation rule – The interest amount is calculated and distributed daily based on your available flexible savings assets. The interest amount is rounded down to 8 decimal places.

—Binance

Flexible Savings Timeline – Flexible savings product subscriptions are closed during 23:50-00:10 (UTC) daily. No interest is accumulated on products purchased on the day of subscription. Interest is accumulated the next day.

—Binance

CLOSING THOUGHTS

If you are afraid in trading your crypto, the best way to do is to take advantage on every opportunity that you have and grab them all but always remember that investing needs more time to wait and risky that is why Doing Your Own Research is better than depending on someone’s investment.

You can also use better platform to save your asset that has higher APY compared to Binance so you will earn more interest by holding your assets.

Read the article written by @Eybyoung so you will understand some terminologies when it comes to this topic. CLICK THIS TO READ HER ARTICLE.

ALWAYS DO YOUR OWN RESEARCH AND INVEST AT YOUR OWN RISK.

Sign up on Binance

Anyone here missed my Dancing Doraemon?

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Avatar for Laurenceuuu
Written by   248
2 months ago
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Comments

Nice article. This is helpful to a newbie like me in crytocurrency. I'm really interested in passive income.

$ 0.00
1 month ago

It's good that you are into it. Go ahead and explore new things:)

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1 month ago

I am missing Douremoon😣

$ 0.00
2 months ago

Ganun dn ginagawa ko

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2 months ago

Oo nga po para di sayang pag-iintay😅

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2 months ago

That is a good way for a passive income, but I think Binance Vault is way better. Aside from BNB having huge potential to go up even more in the long run, you can also earn a lot of other coins in the vault. Try to make an article about it ☺️

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2 months ago

Can we put USDT in Binance vault?

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2 months ago

No, it's only for BNB. You stake it in the vault and you will receive different coins depending what's in the Binance Launchpool.

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2 months ago

I don't have BNB, it's much expensive to buy right now. I will do it once I achieve my 1BCH goal😆 I will start diversify my portfolio. Wait, have you seen pvm's chat on our group (last night)? What's the launchpad that he is saying? I don't get it haha.

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2 months ago

There will always be the next dip. Dun ka bumili. Siguro about TLM yun

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2 months ago

TKO yata

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2 months ago

I will save this one,kiddo. Hope you won't mind. I will try to navigate binance when I will have enough bch to do so. And this article of yours might be of help

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2 months ago

No problem! Thanks for passing by! I'm watching videos on YouTube to understand Binance, so far, so good😆

Binance

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2 months ago

Nandon din iba kung usdt eh hahaha sa flexible savings 😂 while nagaantay mag dip BCH.

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2 months ago

Hahaha nilagay ko sa savings for my content's sake. Tsaka para di s'ya natutulog sayang eh😆

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2 months ago

Hahaha ayos din nmn habang nag aantay mag dip BCH.

$ 0.00
2 months ago

Mukhang interesado ako diyan. Wala pa kasi akong binibili na altcoins for now. Pero ano ba magandang panahon para diyan, kapag mababa ba yung price ng crypto or mataas price nila?

$ 0.00
2 months ago

What do you mean? USDT naman ito, stable coins. No need to buy or something. Para ka lang naglagay sa bangko.

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2 months ago

I will try this may 33$ USDT pa ako

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2 months ago

Good idea, you will earn interest while waiting.

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2 months ago

Naguluhan lang ako sa comment ni meyzee

$ 0.00
2 months ago

Nag try din ako jan kaso inalis ko. Ginawa ko nagbabuy ako ng ibang coins then hodl pag tumaas sell na then try another ahahaha. Tho minsan mali mali din nabbli kong coin ahahahaha, gaya ngayon haysss ung $130 ko 😭, actually nag start yan sa $64 then nag buy nga ako ng coins. Tas aun tumaas naging ganyan ahahaha. Tas nag buy nga ulit kaso naipit ayon $106 nalang ahaha. Pero wait lang ang sakin ahaha.

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2 months ago

Hehe this is for my 1BCH kaya di ko muna tinetrade😆 pero baka itrade ko din ito while waiting for the dip. Nilagay ko lang sa savings for my content's sake😆

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2 months ago

Nilipat mo ba lahat ng bch mo sa binance?

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2 months ago

I gonna try this. What informative pieces of information!

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2 months ago

Yes you should! Grab more opportunity dong!🤓

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2 months ago

Wow! What a bull indeed! I will try this out, i have binance but not investing yet. Ty!

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2 months ago

Try to grab more opportunity! Goodluck po!

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2 months ago

Awee awesome. Hahah xD If the market is still in bull run on sunday I'll keep my usdt in binance earn. 🤭

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2 months ago

If you are planning to put it there, you should put it as early as you can so you're not wasting a day of interest😆 not a financial advice🤓

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2 months ago

Haha I am still looking for the market trend. 🙈 If I could still buuy at a lower price and sell at a higher price

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2 months ago

Cool, I put my USDT on my savings for the sake of this article😆

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2 months ago

Hahaa thats okieee haha

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2 months ago