How to DIY Dual Coins to Make Exchanges Unable to Extract Funds (Non Fee) - Deribit Options Beginner Tutorial (Low Price Fundraising+Premium) I have seen many friends who want DIY tutorials for dual currency trading, just because they don't want the exchange to drain the money (if the transaction fee needs to be paid, it still needs to be paid). So I wrote a plan on how to break away from dual currency and earn power money through pure option mode. The exchange needed here is Deribit. PS: Deribit and I have no vested interests, and there is no commission rebate or promotion relationship. Speaking of which, the best depth for options is undoubtedly Deribit. Therefore, when skipping the dual currency strategy of Binance and OKX, the best option is Deribit. However, Deribit operation is much more complex compared to dual currency, so I will try my best to explain it clearly. If there are any errors or unclear points, please point them out. First of all, our goal is to buy BTC at a low price. If we can buy BTC at a low price, we can buy it. If we can't buy BTC at a low price, we can earn a royalty, which is equivalent to giving interest if we don't buy BTC. However, Deribit uses Bitcoin as the unit of measurement, and the royalty is also given in Bitcoin. The main text begins If a customer wants to buy Bitcoin at a low price of $60000 and cannot buy it, they can pay interest. However, like an exchange, this price is not available every day and depends on whether the delivery time has an expected price. If there is, they can buy and sell directly. If not, they can only place orders themselves. For most customers, it is better to find someone who has a transaction to save time on placing orders. In the above figure is Deribit's options interface, and the time in the upper left corner is the delivery time. To buy or sell, you first need to choose the time you want to receive. For example, when we are trading dual currency, we prepare one to two days, so we can choose the closest time to now. For example, the earliest delivery in the figure is March 5, 2026, so we choose March 5 or March 6 as the best. The closer the time is, the lower the premium. The following times are all in Beijing time. Because we want to buy Bitcoin at a low price and cannot buy any royalties, this is called "selling PUT". We need to operate in the PUT area on the right side of the screen. Next, we need to select the $60000 range at the expected price and click the mouse on the right side of $60000. What we see now is the buying and selling interface, which is divided into two types: bidding and asking. For those who bid, we can trade directly. For example, in the legend, there is a bid of 0.0001, and the target price is $7, which means that $7 (in Bitcoin) is your royalty (interest). Of course, the higher the royalty when selling PUT, the better. If you are not satisfied with the price, you can place an order yourself, but whether you can complete the transaction is another matter. In addition, it can be seen that the bid size in this column is 16, which means that the buyer wants to buy 16 pieces, each at a price of 7 US dollars. These 16 pieces represent 16 Bitcoin (nominal). If all 16 pieces are sold, the royalty is 7 x 16=112 US dollars (Bitcoin). This means that if the BTC price does not reach 60000 US dollars or below at 4:00 pm Beijing time on the expiration date, you will receive a royalty of 112 US dollars, which is interest. So what do you have to pay? Firstly, there needs to be a margin, which is dynamically calculated. Often times, a short put will approach the lower limit of 0.1 BTC per piece. Currently, it is about 0.1 BTC of margin. If you buy 16 pieces, it is 1.6 BTC of margin, and the margin will be refunded if you can successfully complete the delivery. When the price of BTC exceeds $60000 before 4:00 pm on the expiration date, you will receive a royalty and your deposit of 1.6 coins will be refunded. So if the price of BTC is less than $60000 at 4:00 pm on the expiration date, it will be more troublesome. It is best to have sufficient margin. If the price of BTC drops to $55000, the difference between it and $60000 is $5000. 5,000 x 16 / 55,000 = 1.45 So your margin will be deducted by 1.45 BTC, but if the price of BTC continues to decline and falls below your margin limit of 1.6 BTC, you will be liquidated without waiting for the final delivery. This is also the biggest difference from dual currency, which is to wait until the end to check the price, while options need to check the price in the middle. If the margin is insufficient, you will be liquidated. There's nothing else. So it's still at a price of 0.0001 and 7 dollars, selling only one? So our royalty, which is the interest, is only $7 (in BTC), but the margin has also been reduced to 0.1 Bitcoin. If the price of BTC is below $60000 on the afternoon delivery date, our profit is this $7. You should know that the royalty is given to you at the moment of transaction, not waiting for delivery. If the price of BTC for delivery on the due date is $55000, then—— 5,000 x 1 / 55,000 = 0.091 You need to deduct 0.091 Bitcoin from your margin and return your margin. If the price of BTC continues to decline and falls below 0.1 Bitcoin of the margin, and you do not continue to replenish your position, the result will also be a liquidation. At this point, the basic dual currency DIY of options is over. Compared with the dual currency of the exchange, is it more complex? Although it may earn more premium, that is, interest, it will be more troublesome. Firstly, the BTC that can be obtained by selling PUT is only premium, that is, interest, and the loss is not like buying at a low price like dual currency, but deducting the loss from your account. So overall, it is true that the option put PUT method can earn more premium (interest), but if the direction is guessed wrong, the loss will be even greater, unlike dual currency, which at least provides an opportunity to buy spot. Price increases in spot goods can help recoup costs. That's also why I suggest my friends to use dual currency. On the one hand, it's simpler, and on the other hand, it can be used as a tool for bottom fishing. Even if the direction is wrong, the loss will not be very large, and there is even a possibility of returning to normal. End.