How do you make $100 a day on Binance?

Introduction

For the past few months, I have been trading cryptocurrencies on Binance.

 

As a novice, I can attest to the fact that it has been an incredible journey filled with extreme highs and even more extreme lows. I have seen some cryptocurrency pairs increase by 11,000%, 800%, 200%, and on occasion even 5%.

 

Due to the extreme volatility of cryptocurrencies, I occasionally managed to multiply my money by 400% in a single week just to lose all of these profits the next.I don't hoard cryptocurrency heavily since I can't afford to. I don't have any spare cash that I could stash there as I wait for it to rise and for me to witness its insane highs and lows over months or even years. Particularly in the second year of a worldwide pandemic, money is extremely limited. And for a venture to best serve me and my current circumstances, my money needs to be coming in and going out of it.

 

I wanted a method that would work best for me because of these factors. And this is what I came up with after some experience.

Highlights:

* Purchasing digital tokens at a discount and reselling them on Binance for a greater price is known as gift card arbitrage.

 

* The procedure has the potential to generate earnings of $100 or more per day by taking advantage of price differences.

 

* You can buy gift cards on "moogold," and you can sell the coins you buy using Binance's peer-to-peer marketplace.

Comprehending Gift Card Arbitrage

Buying digital coins through gift cards on one platform at a lower price and then selling them on Binance at a higher price is known as gift card arbitrage. Examples of these coins are USDT and BUSD. By utilizing pricing differences across platforms, the method enables shrewd traders to make money.

 

The Method

Let's examine the workings of gift card arbitrage using a real-world scenario. Let's say you can use your debit card to purchase a USD 100 gift card at the official rate, like N450/USD in Nigeria. After buying the gift card, you can sell your 100 USDT at the Binance Peer-to-Peer (P2P) pricing, which might be roughly N750/USD, and redeem the card on Binance.

The Profits' Math

By using this arbitrage approach, you have the potential to benefit handsomely. Let's use the aforementioned example to compute the possible earnings. Upon selling 100 USD at a rate of N750/USD, one can obtain 75,000 Naira (NGN) in total. After deducting the 45,000 NGN original investment, a single transaction yields a profit of 30,000 NGN. Profits can mount up quickly if this technique can be repeated repeatedly.

Where to Begin

To start a gift card arbitrage business, you must have access to trustworthy platforms. We suggest using "moogold" to buy gift cards and Binance's Peer-to-Peer (P2P) marketplace to sell the coins you've bought. Users of Binance can access both platforms from anywhere in the world, regardless of where they live.

The tactic

You will have made $100 if you invest $1000 on Binance and observe a 10% increase on one pair. You will earn $100 each day, every single day, if you repeat this every day.

Final Thoughts

For those interested in cryptocurrencies, gift card arbitrage offers a fascinating way to make $100 or more every day. Profitable trades are possible with this method because it takes advantage of price differences across platforms. It's crucial to remember that this is not financial advice, so proceed with caution when reading it. All trading and investing activities have inherent dangers, therefore before moving further, people should do their research and speak with a financial expert.