I know many friends complain about dual currency.

CN
Phyrex
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2 hours ago

I know many friends complain about dual currency, feeling that most of the money goes to exchanges, and that's indeed the case. The essence of dual currency is the premium of options, while the "interest" provided by exchanges is significantly lower than the premium. But why, knowing this, do I still use dual currency?

The only reason is that it's simple enough and convenient enough because I have some money always ready at the exchange to buy at the bottom. I was originally just sitting at the exchange earning interest, but now the interest is really too low, and the price of $BTC is at what I consider the bottom. So being able to buy on dips and still earn some interest is enough for me.

Moreover, the best options depth is on Deribit. I haven't put too much money on Deribit (mainly because I'm still learning), so dual currency is relatively easier for me.

If I'm at the exchange, either I wait at a certain price for passive buying, which gives no interest at all, or I use dual currency, which at least can cover some meal expenses. Of course, I don’t dare to do it long-term, such as over three days, or spanning weekends; I never buy because there are too many uncontrollable factors. But if it's just one or two days, I feel no pressure.

Of course, if someone is very capable and can set up their own options trading, then dual currency does indeed yield lower returns. However, for some who are relatively lazy or struggle to understand options, dual currency is a simpler choice.

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