Cryptocurrency trading has become a lucrative opportunity for many individuals seeking to earn money online. While platforms like Binance and Bybit are at the forefront of crypto trading, understanding how to use their features effectively is key to maximizing your earnings. In this article, I’ll share a step-by-step strategy that can help you make $50 daily, whether you’re using Binance or Bybit.
Step 1: Get Organized
Before diving into trading, it’s important to stay organized. Create a dedicated folder on your phone or computer where you can keep all your trading apps. This helps streamline your trading process and ensures quick access to tools when you need them. Personally, I have all my apps like Binance, Bybit, and Trust Wallet stored in one folder for convenience.
Step 2: Focus on the “Gainers” Section
Once you log into Binance or Bybit, navigate to the Market tab. Here, you’ll find several categories, including “Favorites,” “Hot,” “Gainers,” “Losers,” and “24-hour Volume.” For this strategy, concentrate on the Gainers section. This shows you the coins that are performing well in the market, ranked by their percentage increase over the past 24 hours.
What to Look For:
- Coins that have just started gaining momentum, typically with a 5-8% increase.
- Avoid coins that have already surged past 10-15% as their upward potential may be limited.
For example:
- If you wake up around 4-5 AM (a good time to check the market), you may see a coin with a 5% increase. This could be an excellent time to buy it on the Spot Market.
- As the day progresses and the coin’s value rises, you can sell it for a profit once it reaches 15-20% or higher.
Step 3: Trade the Gainers
Here’s how to trade the gainers effectively:
- Identify Coins: Look for coins in the Gainers section with a modest 5-8% growth.
- Buy Low, Sell High: Purchase the coin early when it’s still gaining momentum. For instance, if a coin starts at 6% and rises to 20%, you can make a significant profit depending on your investment.
- Use Spot or Futures Trading:
- For beginners, it’s better to trade on the Spot Market where risks are lower.
- For experienced traders, the Futures Market offers the chance to amplify profits, though it also carries higher risks.
Step 4: Use Bybit for Additional Trades
While Binance is great for its features, Bybit is another excellent platform for implementing this strategy. Bybit is known for its intuitive interface, low fees, and strong futures trading options.
How to Trade Gainers on Bybit:
- Use the same approach as on Binance: monitor the gainers and identify coins with 5-8% growth.
- Bybit’s trading tools often provide deeper market insights, making it easier to predict price movements.
Step 5: Explore the “Losers” Section
The Losers section, found under the same Market tab, is another valuable resource. While gainers are great for spot trading, the losers can be profitable for Futures Trading, which allows you to short coins and profit from price declines.
How to Trade Losers:
- Identify coins that are losing value significantly, e.g., down by 10-20%.
- Use technical indicators like RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) to confirm trends.
- Open a short position on the Futures Market to capitalize on the downward trend.
Additional Tips for Success
- Trade Early: Early morning trading (3-5 AM) often yields the best results as the market is less volatile and coins begin to show clear trends.
- Avoid Overtrading: Stick to a few trades a day and aim for quality over quantity.
- Risk Management: Never invest more than you can afford to lose. Use stop-loss orders to limit potential losses.
- Diversify: Don’t put all your money into one coin. Spread your investment across multiple coins to minimize risk.
Example Trade Walkthrough
- Start Small: Let’s say you invest $100 in a coin showing a 6% increase.
- Wait for Growth: If the coin’s value rises to 15%, your $100 investment becomes $115—a $15 profit.
- Repeat Daily: By repeating this strategy with similar gains, you can easily accumulate $50 or more daily.
Why This Strategy Works
- Market Patterns: Gainers often follow predictable patterns, making it easier to buy low and sell high.
- Volume and Momentum: Coins in the Gainers section typically have strong volume and momentum, providing opportunities for quick profits.
- Futures Advantage: For those trading on Bybit, shorting coins in the Losers section offers a way to profit even when the market is down.
Final Thoughts
Earning $50 daily on Binance or Bybit is achievable with the right strategy and discipline. By focusing on the Gainers section for spot trading and the Losers section for futures trading, you can capitalize on market movements effectively.
Whether you’re a beginner or an experienced trader, this method is simple to implement and scalable as your confidence grows. Remember to trade responsibly and continuously educate yourself about market trends and technical indicators.
If you’re ready to take your trading to the next level, start small, stay consistent, and watch your profits grow over time!
