Binance Dual Savings Account

Binance Dual Investment is an amazing way to earn passive income regardless of the market’s direction. This investment option provides Binance customers with a great way to buy a given cryptocurrency at a low price or sell the crypto at a higher price in the future while also allowing customers to earn yield.

So under the hood, while dual investment is an options contract, you’re entering into an agreement with another person in the market for future action. This is a typical options contract where you provide the other person the option to buy or sell BTC. In return, you receive a premium for the right to do that. So, those premiums are your yield, and they can be very lucrative. This article will walk you through setting up the Binance Dual Savings Account.  

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A quick note: A premium is what you receive when you write an option. And that’s exactly what dual investment is all about. You are writing an option or giving someone else the option to do something. It’s like insurance. Insurance companies make money by you not dying or getting sick. So you are investing based on something NOT happening.

What are the advantages of a Binance Dual Savings Account?

Here are some of the advantages of a Binance dual savings account.

Buy Low or Sell High: Dual Investment allows you to purchase cryptocurrencies at a discount or sell them at a premium.

High-Interest Yield: Regardless of the market’s direction, you will generate a high passive income.

Wide Range: You have a lot of assets to choose from, and you may choose the desired date and price.

No trading fees: You’ll get zero trading fees when the target is attained and the purchase or sell order is carried out.

Procedure to use Dual Investment in Binance

Here are the steps in setting up your Binance dual savings account. We’ll break them down into different processes with detailed explanations.

From the Binance website: Go to Earn and click on Dual Investment [the steps are similar on mobile]

Step 1: Choose an asset

Here you can see the assets or coins you can choose from. You can also see the yields you can get on each asset are also available.

Step 2: Get Started

If this is your first time using the binance dual investment, you’d have to complete the Dual Investment quiz. Binance will prompt you to take the quiz once you click the Next button.

Moving on to the Next Step

There are two products to choose from, depending on what you want to accomplish. The first is the Buy Products

Buy products allow you to buy your desired crypto (such as BTC) at a lower price in the future with stablecoins (BUSD or USDT). 

From the image above, you can see that you can invest USDT with the hope of buying your desired crypto (in this example, BTC) at a lower price. But there are two outcomes here:

  • You either keep your dollars and earn with yield or 
  • You buy bitcoin but still earn your yield as well.

So you need to be aware of the outcomes before investing. For example, once you click on Next, the image below is what you’d see.

From the above, you will need to choose how much you want to invest in dollars (that’s USDT). 

Also, there is a target price, which is a set price at which you’re going to potentially buy your desired coin (in this case, it’s bitcoin, but it could be Ethereum or any other coin you select from step 1). 

There’s also a settlement date you need to set. Again, this is a set date when you want to buy your desired cryptocurrency. The target price and settlement are important because they will reflect your yield and potentially swap your dollars into bitcoin.

So if you have dollars (USDT or BUSD) in your portfolio and want to earn some passive income, what happens here is that someone is giving you the option to buy BTC at a price in the future. 

So from the image above, you’re telling the other person that you’re willing to buy BTC at 19,000, and in return, they will pay you the premium, which is 5.38 APY. In this case, if the price of BTC goes below $19,000, you will have to buy it at that price. But if the current price stays above 19,000, they won’t sell you their BTC. And you keep the premium (the earned 5.38 APY) and your USDT.

The Sell Products Option

With the Sell Products option, you can earn an extra passive income on your portfolio. For example, if you have BTC or other coins (like ETH, BNB, SOL, or MATIC) available in your portfolio, you can put them up and then earn some passive income. Essentially, this gives you a chance to sell your existing crypto at a higher price in the future (for BUSD).

From the image above, you also have a target price and a settlement date here that you need to choose, and they both determine how much yield you can get.

So if you have BTC and want to earn some passive income, you are giving someone the option to buy BTC from you at a price in the future, and that’s the settlement date

From the image above, you can see the current price of BTC is 21,703. So if you subscribe to this, you are giving someone the option to buy BTC from you if the price reaches 24,000. But, if you believe it will not happen by the settlement date, you can enter into that contract and earn 7.95 % APY. So the risk is that if the price reaches the target price or exceeds it, they will exercise the contract, and you’d have to sell your BTC to them.

As we mentioned earlier, setting up this account is a profitable venture. If you have BTC and other assets you want to invest in, this is a good option to explore. However, we advise you to do your research before any investment. Visit Binance for other considerable options.

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The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Binance. Copyright Altcoin Buzz Pte Ltd.


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