How to turn 🤑$100 into 🤑$500 on #Binance: Risk and Strategy

You can earn on #Binance with the right strategy, market analysis, and conscious risk. Here are a few methods that can help turn 🤑$100 into 🤑$500:

1. Spot Trading

Spot trading is the purchase of cryptocurrency at the current price with the aim of selling it at a higher price later.

Tips:

• Choose an asset with high volatility (e.g., #BTC or #ETH).

• Use technical analysis (support and resistance levels, candlestick patterns).

• Don't forget about stop-loss to limit losses.

Example: Buy an asset for 🤑$100, wait for a 50% increase, and sell. After several successful trades, you can reach the goal of 🤑$500.

2. Futures Trading

Futures allow you to profit from the rise or fall of a price using leverage.

Tips:

• Start with a small leverage (1:5 or 1:10) to reduce risk.

• Watch for position liquidation.

• Use risk management: risk no more than 1-2% of your deposit per trade.

Example: In a successful trade with 1:10 leverage, the asset price only needs to increase by 10% for you to double your deposit.