How To Make Money On Binance In 2024 (For Beginners)
Summary
TLDRIn 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
💰 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.
🚀 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.
Mindmap
Keywords
💡Binance
💡Cryptocurrency
💡Bitcoin
💡Affiliate Marketing
💡Commission
💡Risk Mitigation
💡Fear of Missing Out (FOMO)
💡Leverage Trading
💡Residual Income
💡Amazon Associates
💡Content Creation
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
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