How to Use Dual Currency to Buy the Dip on Bitcoin — OKX Edition

Recently, many friends have been introducing Dual Currency, which is essentially an option. However, options can be a bit complicated, so the simplified version has become Dual Currency. The core of Dual Currency is to use funds to make predictions about future prices, which is quite similar to a prediction market.

I will use #OKX's Dual Currency as an example. At the current price, it is definitely not a good time to sell high; instead, buying the dip means buying low. You can choose to buy low, and the yield fluctuates with the VIP level. Of course, if you want to find a suitable position to sell after buying the dip, you can sell high.

OKX's Dual Currency is divided into three categories: less than 7 days, more than 7 days but less than 30 days, and more than 30 days. These can be seen as the time for "wealth management" or "ambush," and this time is when you earn the "premium" (wealth management income) or buy $BTC.

Generally speaking, the shorter the time, the higher the yield; the longer the time, the lower the yield. For example, when I took the screenshot, Bitcoin's price was $64,100. So if I choose to buy at $64,000, if the price of BTC on OKX does not drop to $64,000, I will have a 1,256.29% income after four hours.

If it reaches $64,000 or lower, then I will buy BTC at the price of $64,000. Of course, at the time of my screenshot, BTC's price had already fallen below $64,000, so I chose the current temporary low point of $60,000 as a case study.

Since the $60,000 range can be settled today, it can also be seen that it is a four-hour time frame. It is important to note that if it is less than four hours, it will change to +1 day. This means that if you start investing in Dual Currency after 12 PM Beijing time, it will be settled the next day.

So we can see that if at 4 PM today, including before 4 PM (after I placed the order), if BTC's price is less than or equal to $60,000, I will receive 1.00051455 $BTC. The excess can be understood as wealth management income, just in BTC terms.

If before 4 PM today, BTC's price remains above $60,000, then I will receive $60,024.4884. After deducting the principal, the profit is $24.4884, which is the profit in U terms.

Since I already bought at $63,000, $60,000 is definitely not my choice for further buying the dip. This time, I plan to continue buying the dip at $55,000, and the next time I plan to set it at $40,000. Of course, this does not mean I think it will drop that low; it's just a form of wealth management. It is important to note that once you buy Dual Currency, it cannot be canceled before settlement, so you must carefully arrange your funds.

Especially for prices over 30 days, such as Bitcoin at $40,000, it means your funds will be locked for 49 days and 4 hours. Therefore, many friends can see the advantages and disadvantages of Dual Currency. The advantage is that if you buy in the short term, it can be used for wealth management, and the liquidity of funds is relatively high. However, if it's long-term, although the yield looks much higher than ordinary wealth management, it loses flexibility.

For example, if Bitcoin drops to $40,000 tomorrow or even lower, you will still have to wait more than 49 days to get your BTC. Even if it drops lower in the meantime, you can only buy at $40,000. If it rebounds to $100,000, you still won't be able to access your BTC until after 49 days, and you can't sell it. Of course, if Bitcoin's price continues to rise, it will help you lock in your position passively, but if it drops, it will result in a loss.

Some friends also say that the premium given by Dual Currency is much less than that of options, and it's better to buy options since they can be settled early and offer better flexibility. This statement is correct, but options are more complicated, which can be a challenge for many friends. However, if you learn to use options, they can be more flexible and yield higher returns than Dual Currency.

But for ordinary users, the biggest advantage of Dual Currency is its simplicity and convenience.

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