Crypto Academy Week 15 - Homework Post for Professor @imagen

Hello everyone! I hope that everyone is doing great and learning a lot with this class. am going to do the homework for professor @imagen which is about the methods to generate income with crypto currencies. SO let's start.

What platform did you choose? Why did you choose it? What other types of services do you offer?

I am going to choose the Binance exchange platform for this homework as i am being using it from starting of this season and fount out it a most easy and convenient exchanging platform. Binance platform is getting popularity through the world because of its wonderful feature. This is getting the attraction of the investors day by day and making its place rapidly in the blockchain network. This platform has its own coin which is knon as the BNB.

It was introduced by the Changpeng Zhoe for the trading of crypto coins. At that time, this platform starting with the trading of penny/altcoin but later on it grown up and now upto five hundred tokens are available to trade over this exchange. This exchange platform is working on the Ethereum Blockchain network. It just not helping the investors to trade the crypto currencies but also supporting those projects which may proved best for the reputation of this exchange platform in future. This market capitalization of Binance is $1,525,065,276,632 with trading volume $139,813,424,469. On the Binance exchnage platform, 1.4 million transations are record in one second.

Key Points

• Low transaction cost

• Support most common crypto assets to trade

• Easy and convenient for investors

• Working on Ethereum Blockchain network.

• Support much more projects which are in return making this platform popular in crypto world and making this platform a well known standard exchange.

• 1.4million TPS

Why I choosed the Binance

This platform is known as one of the best exchange throughout the world in term of market capitalization, vomume and speed. It support heavy transactions in a few seconds. There is not any panelty noticed yet in the performance of this exchange platform since its founded. This platform has make its position in the crypto world in short time and many of investors are rely on this platform. It's trust worthy, reliable convenient and easy to understand.

Many comon crypto currencies are there on binance for trading. The investors are guided and are aided in making the trading decision thought many projects which are being supported by this well known platform. On binance, The users are able to predict the future of crypto assets which helped them to decide whether or not they should make investment in that coin. It has friendly GUI with most convenient features. It was introduced just before 4 years in 2017, but still it managed efficiently to get the good position in the world best crypto exchange platform.

The most important factor which contribute a lot in the popularity and success of binance and BNB is the BNB burning strategy which its team has adopt. At the time of issuance, 200000000 BNB were distributed among the investors. The burning event is there 4 time in every year where 50 percent of total issued BNB has been destroyed.

Nutshell, i choosed the binance as it is famous, well known and one of the best crypto exchange platform, it support many popular crypto assets and many programs are there to help the investors in taking the the decision in term of investment. It is reliable, fast and user friendly exchange which give wallet to its user for all the available crypto coins.

SERVICES OFFERED BY BINANCE EXCHANGE

This exchange platform provide a plenty of services to its users. there is space and facilities for the investors who want to invest money for short period of time, or for loner duration. Even this platform have options for risk aversion sort of users. The purpose of all these facilities is making it easier for investors to generate income with crypto currencies. This platform offer many services, some among them are mentioned below:

Common Services offered by Binance

1- Deposit: This is the feature which allow the investors to deposit the crypto currencies on this exchange

2- Referral: When the users on binance invite other people to get the registration over this platform, they send there referral link to invite them. This is also a way of earning on binance.

3- Transfer: When it is require to make a transaction of crypto assets on binance, this function is used then by investors. They perform the transactions and transfer the coins to their spot wallet.

4- Order: A record of all those transactions which are performed on Binance are keep here. In this function of Binance, you can finf all the transactions which are perfomed by the investors over this exchange.

Trading Features on Binance

1- Spot trading: This feature help the investors to monitor the movement of any coin using trading view when they sell or buy that coin.

2- Covert: This feature as its name specifies, is used by investors when they want to convert on coin into another. You are also able to convert the crypto coin into stable coin over binance using this feature.

3- Margin: This function allow you to make an order which is greater than value you have in your wallet. This feature help the investor to stable their investment status on this platform. This is happen buy selling or buying or borrowing the coins from third person.

4- Future: As the crypto world is volatile, so the ups and down are occur every time there. The investors predict the future of crypto asset before investing in that. Some time you may lose your money, sometime you may get reward more than your expectations. So more the risk, the higher the reward.

5- P2P: This function helps you to buy the assets from multiple seller at various prices.

Finance Function

1- Staking: When you fixed your assets for specific time to get reward

2- Liquid Swap: The investors on binance are allowed to swap the crypto currencies using this feature.

3- Crypto Loan: You are able to borrow the crypto assets on binance

4- ETH 2.0: This is a feature on binance which the investors used for getting more reward. The investors fixed their assets with ETH 2.0 and get the high profit.

5- Pool: There is an option on binance is added for minors which allow the investors to earn the money by minning.

6- BNB Vault: this feature allow the investors to earn the more profit from binance by staking the coin of binance, BNB

7- Crypto Loan: You are able to borrow the crypto assets on binance

8- Dual Investment: This feature offer the investors with the facility of floating return.

Others(Technical services)

Reward Center: This feature as its name specifies, is where the investors get their reward

News: You can find all the important information about the crypto currencies on this portion

Leaderboard: The traders are ranked on the binance platform. You can find your rank over this exchange using this feature.

Votes: The binnace is a platform where the projects are voted by the traders which they think able to be listed on this exchange. this feature is use for voting purpose.

FAQ: If you have any query or you need some help, you can use this function.

Task Center: This feature as its name specifies, is a point where the investors spot their task

Blog: All the news which come from the crypto currency exchange platforms are find here.

Battle: If you are the person who want to begin a battle between any two crypto assets of your own choice, then this feature also available on binance.

Launchpad: As i mentioned above that binance is a platform which support many program which help this to grow efficiently. This launchpad feature help the binance team to decidewhich strategy they should adopt for launching thier coin.

Trading on Binance to earn

Binance is a platform where you everything you want under one roof. If you want to invest the assets in some coin and fixed it for specific period of time, then the profit ratio get high. For this purpose you can for Fixed account. If the risk aversion if low and you want to make the investment for short period of time, the there is option of flexible saving where you can withdraw your assets just after 24 hour. There is another thing on binance named as launchpool which provide the facility of liquidity in pool. Now we will see each of these in depth and how we can make investment in these type of savings.

Flexible Saving

As i mentioned above that binance also have option for the people with low risk aversion. This type of investment refer to when the investors invest the money and they can withdraw their assets any time. There is no restriction for a specific time duration to be passed for retrievel of your invested assets. When you make investment in this type of account, your interest is start counting after 24hour.

Login to your binance account

Click on binance earn from manue bar of Finance

Click on saving

Click on flexible saving

Select the coin in which you want investment. I choosed BTC.Enter the amount you want to invest

Click on "I read and agree"

Investment is "transfer confirm" in Flexible account

Fixed Saving

In fixed saving plan, the investor invest the amount in some crypto currency and locked it for specific time duration. They can withdraw it once that time duration passed. This is for high risk aversion. Here the risk is high but reward is also high.

Login to your binane account

Click on Binance earn.

Click on saving

Click on fixed saving

Select the coin in which you want investment. I choosed USDT

Enter the amount you want to invest

You need to enter the time for which you want to fix your asset.

Click on "I read and agree"

Click on ransfer Confirmed.

Launchpool

It also is the flexible. You can invest your assets here. You can even withdraw your investment at anytime. You do not have to wait for specific time to pass. This platform has been introduced on binance exchange which the investors use to farm the new token using the assets which are in existence. You do not have to pay anything to farm new coins on binance using launchpool.

Login to your binane account

Click on Binance earn.

Click on Launchpool

Select the project of your own choice.

Enter the amount you want to stake. Click on Stake

How we can generate more income with cryptocurrencies.

I have mentioned the multiple ways which are being used by investors for investment. All these are for earning purpose. The investors invest their assets using flexible, fixed, staking or launchpool plan and earn reward. A lot of program and projects are their to earn and to uplift this platform more. Out of all these method, i found the Staking more easy and beneficial for earning with crypto currencies.

Staking

It is the process where the investors locked their assets which they don't need to use soon. The staking is holding your assets for specific period of time. The assets are locked in your spot wallet and you earn out of that. Staking is best when you have some coin in your wallet which you don't need to withdraw soon. Then we call this as locked staking. As we know that all the transactions are placed in a block in proof of stake to form a blockchain. Staking is also similar to that. Just like that, the staking is the mechanism where the people on platform take part in the process of validation of any transaction.

How we can generate more income with cryptocurrencies.

Here i am going to show you how the staking help to generate more money. I am going to use Binance platform for that. I am going to highlight the steps which help to generate more money by holding or staking the crypto assets which you are not going to use for some period of time. You hold that assets for that period and earn money.

Steps

1- Login to your binance account

2- Click on Binance earn

3- A page with services offered by binance will be opened.

4- You will get the "Staking" oprion there. Click on Staking

5- A lot of options will be appeared there. A list will be appeared of all those crypto currencies which you can stake with the specific time duration.

6- I am going with Vite. But i don't have vite in my account. SO in case that case, first thing is you need to purchase the crypto currency which you want to stake.7- Click on Stake now

7- Click on the market option which is appearing below at the end.

8- Two options will be appear there. VITE/BTC and VITE/USDT.

9- Choose one of your own choice for which you want to purchase Vite.

10- A new page will be open. Where you can see the trading view of VITE. Click on Buy button.

11- Enetr the number of how many VITE you want to purchase.

12- This amount will be transfer in your Wallet.

13- Now you have VITE. NOw you can use them for staking. So go back to teh Staking.

14- Click on staking from Finance functions. Choose Vite from there, enter the time period for which you want to stake the VITE and click on stake now.

15- It will show you the estimated profit you will earn within the choosen period of time in return of staking.

16- Tick the "I Read and agree" Statement and Click on Confirm Purchase.

17- Staking is done.

How much profit you get from Staking

You can get the higher profit if you lock your asset for longer. The longer the period is, the more the reward will. The binance offer you the multiple ways of generating income easily. There are no complications in any of binance process. You can easily generate the reward with just investing money. Although the risk is there, but using the features offered by the binance platform, you can analyze the future of any asset. It help you in making decision whether or not you should make investment.

Conclusion

In this lecture. I have learnt more about how we can generate more income with crypto currencies. I have read and wrote in this homework the fixed, flexible, launchpool and staking methods in depth and concluded that all these are best for getting reward. The features of binance are mentioned in this homework task which force us to accept that no doubt this platform is one of best exchange throughout world for making money with crypto currencies.