Have you ever wondered why some people earn millions from holding Binance coin (BNB)? Well, they did it through a simple strategy called HODLing.
What is HODLing and how does it work?
HODLing is short for Hold On For Dear Life. This term was coined by a user named @thedailyhodl on Twitter. The idea behind this strategy is to simply hold onto your coins until their value increases.
It’s no secret that cryptocurrency prices fluctuate wildly. If you want to profit from these fluctuations, you need to be able to predict them. That’s where HODLing comes into play. By investing in cryptocurrencies, you can increase your chances of profiting from price movements.
Story
I first discovered Bitcoin back in September 2020 – about 2 years ago. At the time, I didn’t really know how to use crypto currency since I’m not a graph guy but I later figured out how it works pretty much by trial and error. After figuring it out, I decided to look around to find some good ways to make money online using bitcoin. Although, I stumbled upon different P2P and crypto wallet website where I could buy, sell and hodl bitcoin.
These P2P websites were actually very simple and straight forward. You signup, enter your email address and set your username, password, verify your identity and create a wallet to buy, sell and store crypto assets.
This system worked well enough for me to start making some extra money each month, so I stuck with it until the day I discovered Binance and registered on the platform. After registering on Binance, I stumbled on BNB, so, I began researching different coins and saw that Binance Coin (BNB) seemed to be doing great. It had increased in value by over 800% in less than a year and it’s current price was $54.00.
So, I decided to buy 450,000 naira worth of BNB at $54 in February 2021. By October 2021, I sold the BNB I bought at 450,000 naira for 5.5 million naira.
-Anonymous
Strategy
Because of the nature of cryptocurrencies, BNB is essentially worth nothing except for what someone else is willing to pay for it. People who want to make more money selling things online can do so by buying BNB and reselling it at a later date.
As far as earning potential, the sky really is the stepping stone. People who participate in Binance’s affiliate program can make anywhere between 5%-25% commissions on the total amount of BNB tokens they hold. That means that you can potentially earn 5% of the entire supply of BNB tokens if you just bought a single token!
Not only does the affiliate program provide a steady stream of income, but it’s also completely passive. You won’t need to do anything except place the content up for promotion. Binance takes care of the rest.
Binance is a cryptocurrency exchange that launched in July 2017. It’s headquartered in Malta and employs approximately 300 people. Its launch was funded by Barry Silbert, CEO of Digital Currency Group and early investor in Bitconnect.
Binance is one of the largest exchanges in the world. How does it compare to other exchanges? What makes it unique?
Binance was founded in 2017 and has since grown into one of the biggest exchanges in the world. The exchange offers trading services for over 100 coins and tokens.
Binance is known for its high liquidity and low fees. It also offers margin trading and leverage options.
In conclusion
HODLing is a strategy that allows you to make money while waiting for the price of an asset to rise or fall.
Binance is one of many platforms that offer BNB.
Affiliate programs give you the ability to earn money passively.
