How To Make Money On Binance In 2024 (For Beginners)

Summary

In this video, Mike Vasile discusses a low-risk method to earn money with Binance and cryptocurrency, focusing on affiliate marketing. He emphasizes the importance of not needing trading expertise and highlights the potential to earn substantial commissions by promoting Binance's affiliate program. Mike shares personal experiences and insights, including the strategy of leveraging the demand for trading education to earn commissions, rather than relying on direct cryptocurrency investments. He also touches on the concept of 'selling shovels' during a gold rush, positioning affiliate marketing as a smart alternative to direct trading.

Takeaways

• 💡 Investing in cryptocurrencies like Bitcoin can be risky, and many people lose money due to lack of experience or knowledge in trading.
• 🌐 The speaker suggests a low-risk method to make money in the cryptocurrency space: affiliate marketing with platforms like Binance.
• 📈 Historically, people have lost money by not selling their investments at the right time, which is a common mistake that can be avoided with careful strategy.
• 🤑 The fear of missing out (FOMO) can lead to impulsive investments, which might not be the best decision, especially for first-time investors.
• 🚫 The speaker emphasizes not being a financial advisor and that the content is not financial advice, but rather a sharing of experiences and strategies.
• 🔗 Binance's affiliate program offers up to 50% commission on trades made through an individual's affiliate link, which can be a lucrative source of income.
• 🎥 Friends of the speaker are making additional income by documenting their trading experiences on YouTube and earning commissions from viewers who trade through their links.
• 💰 The speaker's friend made a significant amount through affiliate marketing during a bear market, highlighting the potential of this method regardless of market conditions.
• 📈 The analogy of a gold rush is used to explain that the most significant profits are often made by those providing services to the people involved, not just the direct participants.
• 🔗 The speaker encourages identifying active traders and promoting exchanges through content creation, as this can lead to significant affiliate commissions.
• 💼 Learning marketing skills is highly valuable as it can be applied across various platforms and assets, including cryptocurrencies.

Q & A

What is the main topic discussed in Mike Vasile's video?

The main topic discussed is how to make money with Binance and cryptocurrency like Bitcoin, with a focus on low-risk methods such as affiliate marketing.

Why does Mike emphasize the importance of not needing experience in trading or technical analysis?

Mike emphasizes this because most people lose money when they try to trade without experience, and he wants to present a method that mitigates risk for beginners.

What is the 'coolest thing' Mike mentions about making money with cryptocurrency?

The 'coolest thing' is that you can turn cryptocurrency into cash without needing any experience in trading or technical analysis.

How does Mike suggest mitigating risk when dealing with Bitcoin investments?

Mike suggests mitigating risk by using affiliate marketing with Binance, where you earn commissions from trades made by people who sign up through your affiliate link.

What is the significance of exchanges making money regardless of market conditions?

Exchanges make money in both bull and bear markets because they charge fees for trades. This consistency is similar to the 'house always wins' concept in gambling.

What percentage of commission can one earn through Binance's affiliate program according to the video?

One can earn up to 50% commission every single time someone completes a trade through their affiliate link.

Why does Mike suggest documenting your trading journey even if you're not an expert?

Documenting your trading journey can attract viewers who are interested in learning about trading. This can lead to earning affiliate commissions without risking your own money.

What is the strategy for identifying active traders in the cryptocurrency space as per Mike's video?

The strategy involves looking for people making videos about Bitcoin and trading, then identifying which exchange they recommend in their videos or descriptions.

How does Mike's friend make an extra Bitcoin every day through affiliate marketing?

Mike's friend makes an extra Bitcoin every day by making YouTube videos about trading, using a small amount of money for trading, and earning 50% commissions from people who trade through his affiliate link.

What is the analogy Mike uses to explain the most profitable strategy during a gold rush?

Mike uses the analogy that during a gold rush, it's not the gold diggers who make the most money, but those who sell the shovels. In the context of Bitcoin, it's the exchanges that act as the 'shovels'.

Why does Mike recommend learning marketing skills in the context of making money with Bitcoin?

Mike recommends learning marketing skills because it's a valuable skill that can be applied across various platforms and assets, allowing you to earn in different currencies, including Bitcoin.

Outlines

00:00

💰 How to Make Money with Binance Affiliate Marketing

In this segment, Mike Vasile introduces the topic of making money with Binance, focusing on a low-risk method through affiliate marketing. He explains that many people lose money when trading cryptocurrency due to poor decision-making and lack of experience, but affiliate marketing offers a safer alternative. He emphasizes that this method doesn’t require advanced technical analysis or trading expertise, and people can earn commissions from trades made through their affiliate links. Mike also shares his experience of watching others lose money by not selling their Bitcoin at the right time.

05:02

🚀 Affiliate Marketing with Binance for Consistent Earnings

Mike elaborates on how affiliate marketing allows you to earn commissions regardless of market conditions, comparing it to a casino where the house always wins. He underscores the advantage of promoting exchanges like Binance, where users can earn up to 50% commissions from affiliate links. He also highlights the success of friends who have made significant amounts through this method, emphasizing the long-term benefits of earning Bitcoin through commissions rather than direct investment.

📈 The Power of Affiliate Marketing in the Crypto Space

Mike explains how content creators, even without expertise, can document their trading journey and earn through affiliate commissions. He shares examples of popular YouTubers who make money from affiliate programs by recommending exchanges like Binance. By consistently producing content and encouraging followers to trade using their affiliate links, these creators build a steady revenue stream. He reassures viewers that expertise is not necessary, and they can start with minimal risk while focusing on recommending exchanges.

🛠 Earning Through Affiliate Programs and the Gold Rush Analogy

Drawing an analogy with the gold rush, Mike explains that those who sell shovels (exchanges) are more profitable than those who dig for gold (investors). He discusses how some of his friends are earning even more through affiliate commissions than actual day trading. The volatile nature of Bitcoin trading, coupled with affiliate marketing, creates a lucrative opportunity. Mike encourages viewers to focus on affiliate marketing instead of risking their own money on direct trading.

🔍 How to Leverage Affiliate Marketing for Crypto Earnings

In this part, Mike demonstrates how easy it is to find exchanges with affiliate programs by simply searching online. He emphasizes that many people are hesitant to get involved in crypto because they lack expertise, but affiliate marketing provides a way to benefit from the growing interest in Bitcoin without the risks associated with direct investment. By documenting their journey and recommending exchanges, even beginners can earn commissions from others’ trades.

💡 A Creative Way to Profit from Cryptocurrency

Mike reflects on his personal experience of losing money during a Bitcoin price drop, explaining how he learned to shift his approach. He advises viewers to avoid risking large sums of money on volatile assets like Bitcoin and instead focus on affiliate marketing as a safer and more sustainable method of making money. By partnering with exchanges and leveraging their marketing skills, viewers can generate income without having to make risky investments.

🎯 Final Thoughts on Earning with Binance and Affiliate Marketing

In the final section, Mike summarizes the advantages of affiliate marketing and encourages viewers to learn marketing skills. He mentions that people are being paid in various currencies, including Bitcoin, for promoting exchanges. Mike also invites viewers to join a free workshop on affiliate marketing, highlighting that many people are making substantial income without risking their own money in cryptocurrency. He signs off by asking for feedback and thanking his audience.

Keywords

💡Binance

Binance is a leading global cryptocurrency exchange platform where users can trade a variety of cryptocurrencies, including Bitcoin. In the context of the video, Binance is presented as a partner for affiliate marketing, allowing individuals to earn commissions from trades made through their affiliate links. The video suggests that partnering with Binance is a low-risk way to make money in the cryptocurrency space without directly investing in volatile assets.

💡Cryptocurrency

Cryptocurrency refers to digital or virtual currencies that use cryptography for security and operate on decentralized systems like blockchain technology. The video discusses how to make money with cryptocurrencies, specifically Bitcoin, through methods other than direct investment, such as affiliate marketing.

💡Bitcoin

Bitcoin is the first and most well-known cryptocurrency, often serving as a benchmark for the entire cryptocurrency market. The script mentions Bitcoin as an asset where people have made and lost significant amounts of money. The video suggests using affiliate marketing as a way to profit from Bitcoin's popularity without the risks associated with trading it directly.

💡Affiliate Marketing

Affiliate marketing is a performance-based marketing strategy where affiliates earn a commission for promoting products or services. In the video, affiliate marketing is presented as a low-risk method to earn money from cryptocurrency trading by promoting Binance's trading platform and earning commissions from trades made by referred users.

💡Commission

A commission is a share of the revenue generated from a transaction, paid to the party that referred the transaction. In the context of the video, commissions are earned through the Binance affiliate program, where the video creator earns up to 50% for every trade completed by users who sign up through their affiliate link.

💡Risk Mitigation

Risk mitigation involves strategies to reduce or eliminate the potential for losses. The video emphasizes the importance of risk mitigation in cryptocurrency investments, suggesting affiliate marketing as a way to profit from the cryptocurrency market without exposing oneself to the same level of financial risk as direct trading.

💡Fear of Missing Out (FOMO)

FOMO is the fear of missing out on opportunities, which can lead to impulsive decisions. The script describes how FOMO influences people to invest in Bitcoin without a clear strategy, potentially leading to significant losses. The video advises against such impulsive behavior and promotes a more strategic approach through affiliate marketing.

💡Leverage Trading

Leverage trading involves using borrowed funds to amplify potential returns, but it also amplifies potential losses. The video cautions against leverage trading due to its high risk, suggesting that documenting trades and earning affiliate commissions is a safer way to profit from the cryptocurrency market.

💡Residual Income

Residual income refers to earnings that continue to be generated after the completion of an initial action. In the video, residual income is discussed as a benefit of affiliate marketing, where creators can earn ongoing commissions from their affiliate links, even after their initial promotional efforts.

💡Amazon Associates

Amazon Associates is a popular affiliate marketing program where affiliates earn a commission for referring customers to Amazon's online store. The video uses Amazon Associates as an example to illustrate how affiliate marketing works and how it can be applied to cryptocurrency trading through platforms like Binance.

💡Content Creation

Content creation involves producing various forms of media, such as videos, blogs, or podcasts, to engage an audience. The video encourages content creation as a strategy for affiliate marketing, suggesting that by documenting their own cryptocurrency trading experiences, creators can attract an audience and earn commissions from their trades.

Highlights

Mike Vasile introduces a low-risk method to make money with Binance and cryptocurrency without needing trading experience.

Discusses the importance of not relying on technical analysis or trading for beginners, as it's often complicated and leads to losses.

Introduces affiliate marketing as a way to earn money in bitcoin or cash with minimal risk.

Shares personal experiences with cryptocurrency investments and the common pitfalls of not selling at the right time.

Explains the concept of 'Fear of Missing Out' (FOMO) and its impact on cryptocurrency investments.

Advises against investing large amounts of personal money without understanding the market, suggesting affiliate marketing as a safer alternative.

Describes the consistent revenue model of exchanges, which earn regardless of market conditions.

Highlights the potential to earn up to 50% commission through the Binance affiliate program.

Mentions friends making an additional bitcoin daily through affiliate marketing during bear markets.

Explains how to leverage content creation about trading to attract an audience and earn affiliate commissions.

Advocates for documenting one's trading journey as a strategy to attract viewers and potential affiliate customers.

Discusses the idea that during a 'gold rush,' it's often the service providers, not the miners, who profit the most.

Encourages identifying active traders and promoting exchanges through content to earn commissions from their trades.

Provides a strategy for finding and promoting affiliate programs of various exchanges beyond just Binance.

Stresses the importance of learning marketing skills as a universally valuable asset.

Concludes with a recommendation for a free workshop on affiliate marketing for those interested in learning more.

Transcripts

mike vasile here and in today's video

we're going to talk about how to make

money with binance uh

cryptocurrency bitcoin you can even turn

that into cash if you want

and the coolest thing is you do not need

to have any experience

you don't need to know how to read this

and you don't know how to actually do

technical analysis or trading that's

just complicated and most people

actually lose money

when it comes to date training we're

gonna go talk about a very low risk way

to

actually make money online either in

bitcoin or cash

with this method and that method is

essentially affiliate marketing

right if you see this right back in the

day you know i got

into bitcoin and cryptocurrency right

around here right i was making money

online and i was just throwing it into

cryptocurrency and whatnot

and i literally saw a lot of people put

a lot of money in

to their investments and they think they

were rich

at this point right here but because

they didn't sell they ended up losing

all of that money and what we have right

now is kind of like that exact same

thing where a lot of people are thinking

oh should i actually put my money in

right now or should i wait

should i do it now or should i wait and

this fear of missing out they just want

to throw a bunch of money in here

which potentially you know it could hit

400 000

per bitcoin or it could just drop again

we don't know

we absolutely don't know everything is

still speculation and like i said i'm

not a financial advisor

this isn't financial advice but what i

can share with you is the proven way

that you could actually make money

or bitcoin with mitigating your risk so

you're not losing

your shirt in your house in your home

like what a lot of people did

around this period of time and that is

essentially like i said affiliate

marketing

because at the end of the day no matter

how high

bitcoin got or how low it got the

exchange

still made money think about that it's

like when you're gambling it doesn't

matter if you win or lose because the

house

always will win it's the exact same

thing with exchanges

exchanges will make money in bull

markets they still make money

in bear markets and what you guys got to

realize

is that instead of thinking about it

like an amateur of oh let me just take

as much money of my own money

and invest it right here at the top

which is literally the worst decision

especially if this is the first time you

are

investing in bitcoin what if you could

just mitigate the risk

by partnering with binance the exchange

now the coolest thing is if you just

google binance affiliate program you can

see this

you can get up to fifty percent

commission every single time someone

completes the trade

through your affiliate link and i

literally have friends making youtube

videos on this

uh just sharing exactly what they're

doing now they're trading with a very

like small amount compared to their

entire net worth

so they're willing to lose that money

but because they know that there's going

to be a huge demand

for people that want to learn how to

trade bitcoin they know there's going to

be more eyeballs to that

and the thing about these people is

they're going to go and find out how to

trade

naturally by you know like looking at

these videos anyways

so why not just you know document you

already learning how to trade

that way when people go through your

affiliate link you get 50 commissions i

literally have friends doing this

making an extra one bitcoin every single

day

like a literally a whole bitcoin every

single day

especially around this time uh my friend

was telling me he was doing this right

here in the bear markets

right and he was like absolutely killing

it so now

all of that money that he made when he

was making like bitcoin when it was at

like three thousand or four thousand or

five thousand

he's already forexed his money the thing

is he never actually put

the money that he made into it it was

just money that he made from affiliate

marketing now this is something that you

guys got to realize because

when there's a gold rush the people that

make the most money in a gold rush

aren't the people that dig for gold

that is very few in between the people

that make the most money

are the people that actually shall sell

the shovels and the exchanges

are the shovels so what the opportunity

is is a lot of people are starting to

make

videos about trading but most of the

time they might be trading

and making good money from their trades

like i i make i

know a lot of friends that make good

money day trading

but they actually make even more money

by really documenting their trades and

then making money from the affiliate

marketing commissions when people kind

of like follow their trades

it's essentially what people do with

like amazon associates on a

higher level like when someone goes

through your amazon associates link

and go to amazon and they go buy

something from amazon

someone that would recommend it maybe

would get like a couple percentages

of this uh purchase so people aren't

really making that much

but when you're dealing with like a very

insanely

volatile you know asset which is bitcoin

or cryptocurrency

and you're putting that along with as

well as leverage trading which is what a

lot of people do as well which isn't

like really recommended but some people

are very high risk and people are gonna

already do it like you you don't

understand like you're not really

uh teaching people new things you're

just documenting what you're going

through and recommending the exchange

that you're doing

you see a lot of people coming and

searching for these specific things all

you really got to do

is just document what you're already

doing if you want to learn day trading

or whatnot

just put a very minimal amount so you

can just figure it out but the most

important thing

is just recommend the exchange and look

at this

50 commissions every single time and

that's residual okay

so your goal is you want to identify who

are like the active traders

if i just type this in and i just type

in bitcoin

news what and what not right you'll see

a lot of these people

making videos about bitcoin talking

about trading but if you see

the first link they're recommending some

type

of exchange because this person the moon

is literally making money from this so

that's that's the beauty of about

affiliate marketing because even though

i've never actually seen this video he

probably does some training and we could

even look at his

technical analysis you could even go and

in this video

he's already talking about it he's

getting like 700 views per hour

every single time someone goes through

here or here which is not really binance

but it's another exchange

he would go and make 50 commissions of

all of the trades

right so that's the thing because even

if we just put in bitcoin

trading you see there's so much people

just even talking about i

tried trading bitcoin like look at this

this guy made i tried

trading bitcoin for a week and he's not

even an expert which is what stops most

people they're like oh i'm not an expert

i can never do this

believe that 800 000 views

and all you got to do is just recommend

you know this exchange and whenever

somebody trades

on their behalf not using your money but

their money

you get 50 commissions every single time

they trade

and the thing is if you constantly keep

on producing that content you're going

to attract more and more people

that are more higher likely able

to go and uh do the training and you get

commissions off so let's just do that

again

bitcoin news you can see the other

exchanges that have affiliate programs

so you have

vmax and all you really got to do once

you type in bitcoin news just look at

the links in the description and you'll

see exactly which exchanges they have

binance is just one of them

but you could literally google insert

exchange name slash affiliate marketing

program and you could just see how

people are actually making their money

in bitcoin like i said most of the times

it's not actually because they're like

oh let me just sell my house and put my

money in this risky asset

it's because they're realizing that this

is a risky asset they can make a bunch

of money but they could lose a bunch of

money

so they're thinking more creative ways

on how they could actually make money in

bitcoin

without actually having to do all the

hard work and the high risk

like i said if you don't know how to

read this if you're not an expert trader

if you don't know anything about

finances you are going to lose a bunch

of money in cryptocurrency

how do i know this because i lost a

bunch of money around this period of

time

when i put a lot in as it was going up i

was like oh my god it's still going to

go up and then i just saw a lot of my

money go down

and it completely sucked it completely

sucked and i don't want that to happen

to you

so what i realized around this time is i

was like okay

how else are people making money with

bitcoin how are they making money

without actually having to invest their

own money oh

it's because they're partnering with the

exchanges they're partnering

with the companies they're partnering

with people that are professionals and

instead they're just kind of actively

doing a little bit of the marketing

that's why i always preach to learn a

marketing skill because if you can learn

a marketing skill anyone will pay you in

anything they'll pay you in us dollars

they'll pay you in yen

they'll pay you an indonesian rupiah

they'll pay you in thai bot they'll pay

you in bitcoin

and this is just one way that you can

actually make money with binance without

actually having to risk

your own money guys so check this out uh

and if you need help with marketing

the number one thing that i recommend

with affiliate marketing because this is

just a form

you know there's one way that people are

making a hundred to a thousand dollars a

day with affiliate marketing

check out the free workshop below with

that being said let me know what your

thoughts are

i love you guys peace out