Holograph and LayerZero are partnering to deliver the holographic NFT bridging solution
The omnichain bridging solution allows users to transfer NFTs between chains without sacrificing data integrity or having to worry about proof of ownership tracking
The integration of LayerZero into Holograph’s omnichain makes NFT interoperability more accessible
Holograph and LayerZero make transferring NFTs between chains more efficient and secure
Holograph, the omnichain non-fungible token (NFT) interoperability protocol, has partnered with LayerZero, a lightweight interoperability protocol, to provide users with the ability to transfer NFTs across different blockchain platforms with complete data integrity.
The omnichain bridging solution introduces several benefits to the process of sending NFTs between chains. For starters, thanks to Holograph’s unique bridge service and LayerZero’s efficient cross-chain messaging system, the original NFT is beamed across chains along with the original smart contract address and token ID.
This comes as a stark contrast to old bridging methods that require users that wish to make cross-chain transfers to make a new copy of an existing NFT on the new chain. These new tokens – also called wrapped NFTs – not only make the process of keeping track of ownership and transaction data challenging, but they also violate the core principles of non-fungibility, which indicate that NFTs cannot be copied, substituted, or subdivided.
Users can enjoy several benefits thanks to the innovative holographic omnichain. For instance, an NFT can be minted on a chain that is cheaper and then transferred to a different chain. Also, NFT owners can beam their tokens to pursue higher liquidity and better investment opportunities on different chains. Moreover, the omnichain bridge makes collecting NFTs on different chains less of a hassle and less costly, since transaction fees can be paid on a single chain instead of on multiple. Last but not least, Holograph’s solution makes it possible for users to seek NFT arbitrage trading opportunities on digital collectibles marketplaces to take advantage of potential minute price differences between the same tokens listed on different chains.
Holograph CEO Jeff Gluck commented on the partnership with LayerZero:
“Holograph’s omnichain NFT infrastructure brings exciting new use cases for creators, developers, and enterprises. We are excited to work with Layer Zero’s incredible team to launch our protocol and deliver a giant leap forward in blockchain interoperability.”
LayerZero CEO Bryan Pellegrino said in a statement that they are “excited” about working with the Holograph team and added that their Omnichain NFT infrastructure could help unlock a “frictionless NFT experience.”
Hippo has announced the launch of its crypto wallet, which is already fully functional with new innovative features. The non-custodial and completely private wallet is designed to offer seamless crypto transactions, maximum security and anonymity to users. To ensure that the privacy of its users is completely secured, Hippo Wallet doesn’t request any personal information from users. Furthermore, it does not store or have access to the personal data of its users. The only identifier issued to a user is the mnemonic code which must be kept safe by the users as the wallet has no way of identifying a user outside that code. And if the code is lost, the system has no record of it for recovery. This measure helps ensure that only the unique wallet owner can access the assets stored in it.
Hippo Comes with New Innovative Features
As more people use cryptocurrencies and decentralized applications (DApps), having a simple way to access them becomes increasingly important. However, having multiple solutions for different activities, whether for investing, payments, or DApps, can quickly become inconvenient.
That’s where an all-in-one package like Hippo Wallet comes in handy.
Although there are over 80 cryptocurrency wallets presently, Hippo Wallet offers something entirely unique and innovative to give users a better experience. Firstly, the wallet allows its users to connect their wallets to nodes without needing too much computing power, thereby making transaction verification swift and seamless. “Connecting to node” feature means that although all wallet transactions can be tracked on the blockchain, the total amount that is held inside the wallet remains private when connected to a private node.
Hippo Wallet allows users to create an unlimited number of multi-coin and single-coin wallets. Another amazing fact about Hippo wallet is its impeccable dependability and value proposition, which has accelerated its growth over the last three months, with over 200k users within that time.
Hippo Wallet is a product of Blockchain Commodities, a custom blockchain software developer based in Dubai. The company’s vision is to be a catalyst for impactful digitalization.
Blockchain Commodities is a full-service consulting firm that helps businesses become blockchain-ready. The company is committed to meeting its clients’ needs, seamlessly integrating blockchain solutions into their services, and enabling them to grow in the blockchain and DeFi space.
Future Expectations
As the project continues to grow exponentially, the team is tirelessly working to incorporate new amazing features like staking, swap, as well as integrating new chains into the ecosystem. The wallet is also underway to include the ability to connect to DEXs, DApps and to hold NFTs as well.
Amongst the upcoming features is the “multisig wallet”, this feature enables multi signatories to have control over transactions. Meaning, it can be set that any, or all of the signatories must allow a certain transaction to take place within this multisig wallet. A great feature for partnerships of any kind!
Another exciting development in the pipeline is the launch of the Hippo Wallet utility token, $HPOW. With this token, users will be able to pay reduced gas fees, earn rewards, and enjoy much more benefits.
Liquidity provider Alkemi Network and hardware wallet manufacturer Ledger have entered a partnership
As a part of the deal, Ledger Live users will be able to tap into Alkemi Earn and benefit from decentralized DeFi borrowing and lending services
Alkemi Earn is set to become the first Yield app on Ledger Live
Alkemi Earn to become the first DeFi lending protocol integrated into Ledger Live
Alkemi Network, an institutional-grade platform bridging CeFi to DeFi, and Ledger, one of the largest hardware wallet manufacturers in the world, have entered a partnership that will make DeFi lending and borrowing accessible to more than 1.5 million Ledger Live users.
Ledger Live is a software solution available on both desktop and mobile devices, which allows Ledger hardware wallet users to manage their devices, trade crypto, and tap into the booming sector of decentralized applications (dApps).
Alkemi Earn is a lending protocol that allows both institutional and retail investors to benefit from permissioned and permissionless liquidity pools (consisting of a Bank-Grade Verified pool and a permissionless Open pool) that include some of the more popular digital assets, including Ethereum, Multi-Collateral Dai, USD Coin, and Wrapped Bitcoin. In addition, users can earn the platform’s native governance and utility token ALK when using Alkemi Earn.
The integration with Ledger Live will further expand the availability of Alkemi Earn and likely boost the liquidity and user activity on the platform. To date, more than $50 million in total have been deposited since Alkemi Earn launched.
Alkemi Network co-founder Brian Mahoney had this to say about the integration with Ledger Live:
“‘Not your keys, not your coins,’ as the saying goes. With this native integration into Ledger Live, Alkemi Earn unlocks a protocol-powered cash management experience for Ledger’s community. This is what bridging CeFi to DeFi is all about.”
Vice President of International Development at Ledger said in a statement that the company is excited about integrating Alkemi Earn as “the first Yield app” on Ledger Live and added that users will be able to grow their crypto portfolios “without centralized custodians.”
Mastercard has published the results of a survey on emerging payment technologies called New Payments Index 2022
More than half of consumers from Latin America have made a crypto asset transaction in the past, according to the survey’s findings
54% of Latin American users say they are bullish on crypto as an investment
Crypto adoption in Latin America is growing at the expense of traditional payment methods
Leading payments network Mastercard has published the result of the annual New Payments Index, a survey designed to gauge consumer behavior pertaining to “emerging payment methods.” New Payments Index 2022 was conducted between March and April and included over 35,000 respondents from around the world.
According to the survey – which included questions regarding fintech solutions as well as digital currencies, DeFi, blockchain, and NFTs – 51% of the Latin American population has made a cryptocurrency transaction in the past year. Also, 33% said they have used stablecoins to make at least one purchase in the last 12 months. Moreover, 54% of all respondents said they are bullish on crypto as an investment.
Short summary of the findings from Mastercard’s New Payments Index 2022. Image: Mastercard
Judging by the survey’s findings, there is significant room for growth in the Latin American market – two-thirds of consumers said they want crypto payments to be more accessible in their “day-to-day operations.” In addition, 82% said they would like their current financial institutions to offer crypto products and services.
The survey also found that Latino users are becoming less dependent on cash payments, with 29% saying they have used less physical money in the past year.
The rate of cryptocurrency adoption in Latin America is arguably higher than in any other region in the world. Per Triple-A data, three countries from Latin America rank among the top 10 countries with the largest percentage of crypto owners – Venezuela with 9.02%, Brazil with 7.75%, and Colombia with 6.63%.
Three Arrows Capital (3AC) has defaulted on a $625 million loan issued by Voyager Digital
The 3AC has had its positions liquidated by several crypto firms, suggesting that the fund could be insolvent
Alameda Ventures has been granted Voyager access to more than $500 million in extra capital
Three Arrows Capital fails to make payments on loan of 15,250 BTC and $350M USDC
Three Arrows Capital (3AC), a major cryptocurrency hedge fund and venture capital investor, has been hit particularly hard by the recent crypto downturn. The firm was heavily invested in Terra before the ecosystem’s monumental collapse earlier this year. In addition, the fund’s positions on a number of digital trading platforms – including FTX, Derebit, BlockFi, Genesis, and BitMEX – were recently closed and collateral liquidated.
Now, 3AC has been served a notice of default by digital asset brokerage Voyager Digital for failing to make payments on the 15,250 BTC and 350 million USDC loan, worth roughly $671 million at current market rates.
According to Voyager’s press release, the company had approximately $137 million worth of cash and digital assets on hand on June 24, 2022, with additional access to Alameda Ventures’ $200 million worth of USDC and 15,000 BTC.
Speaking to the Wall Street Journal earlier in June, 3AC’s co-founder Kyle Davies revealed that the “Terra-Luna situation” caught the company “very much off guard.” He added that the crypto downturn that followed in the aftermath of the Terra fiasco created major problems for the firm.
3AC’s loan default comes at a time when major cryptocurrency investment firms are struggling to withstand the negative effects of the notably bearish activity permeating the markets. As a result, the stocks of publicly traded companies with exposure to crypto have seen a drastic reduction in their value, in some cases even greater than crypto assets themselves. For context, Bitcoin and Ethereum are down 58% and 69% in the last 6 months, respectively.
The stock price of Voyager Digital is currently showing a 6-month negative price change of 96%. Another prominent publicly traded crypto company and the largest BTC holder, MicroStrategy, is down 65% in the same time period. Coinbase, Riot Blockchain, and Marathon Digital are also down in excess of 70%.
It’s easy to determine why cryptocurrencies have become more popular and reliable than fiat currency. The bulk of cryptocurrencies yield direct transactions that don’t depend upon centralised authority. This suggests that users can do business without the necessity for somebody to supervise them.
Cryptocurrencies, on the opposite hand, have a speculative component. Cryptocurrencies rise in value as fiat currencies lose value because of inflation. Not all cryptocurrencies, however, are created equal. Some are more beneficial than others. During this article, we’ll have a look at how investors can profit massively from RoboApe (RBA), VeChain (VET), and Huobi Token (HT).
The Enterprise Adoption Platform – Vechain (VET)
VeChain (VET) distinguishes itself from the competition within the crypto market in several ways. One element that distinguishes its structure was developed employing a specific approach. Another advantage is its capacity to mix centralization and decentralisation. VeChain users like its high-speed transfers, clear information flows, and, most significantly, efficient collaboration as a results of this. VeChain (VET) has developed cutting-edge solutions to real-world issues.
For example, the VeChain platform may be wont to track any product’s quality, authenticity, storage temperature, transit medium, and last-mile delivery from the manufacturing facility to the ultimate delivery and, finally, to the top customer. VET accomplishes this via broadcasting smart chips or frequency identification technologies. None of the records added to VeChain is changed because it uses blockchain technology. It also allows the recipient of the products to verify that the things were handled properly and are authentic. VET has been the VeChain system’s currency since its rebrand: the more VET an organization owns, the upper its priority for utilising the blockchain’s resources is.
The Digital Ethereum Asset – Huobi Token (HT)
Leon Li was a proponent of Bitcoin from the beginning and had been campaigning for it since 2011. He then decided to start out the Huobi Group which could be a digital asset provider, two years later, in 2013. Since then, the Huobi exchange has grown to become a metropolis publicly traded corporation and one in all the industry’s market leaders. The native token of the Huobi Group, Huobi Token (HT)was launched later in 2018. The Huobi Token may be a digital asset supported Ethereum that was created by Houbi Group, the corporate that runs the Huobi cryptocurrency exchange. The coin may be wont to vote on exchange decisions, get cryptocurrency prizes, and trade with other Huobi-listed cryptocurrencies.
It became a preferred choice for people looking to induce into the new world of cryptocurrency, which allows users to speculate in projects through trading and Initial Coin Offerings (ICOs). Huobi followed Binance’s lead in 2018 by launching an exchange token that permits for on-platform governance, rewards, and special event access. Huobi Token works within the same way as other cryptocurrency exchanges. The exchange’s specialisation in stable coins backed by the US Dollar may be a relatively recent trend. These are coins that are tied to the US Dollar’s value, making them less sensitive to promote volatility.
The New Meme Token – RoboApe (RBA)
RoboApe (RBA)could be a decentralised financial payment network that recreates the normal payment stack using blockchain technology. It uses a pair of fiat-pegged stablecoins that are algorithmically stabilised by its reserve token, RBA, to enable programmable payments and also the establishment of open financial infrastructure. RoboApe could be a new meme token with a spread of community-oriented features that has the potential for the cryptocurrency market.
The RBA Token will function as the muse for a DeFi network for meme and crypto lovers, with transactions and staking rewards built into the ecosystem. RBA could be a cutting-edge meme coin that aims to supply fascinating blockchain services and other unique features. It differs from other meme coins that rely solely on popularity and trends to remain afloat. Through its multiple features and products in development, RoboApe has real-world application cases. RoboApe Finance, RoboApe Swap, RoboApe Academy, and therefore the RoboApeNFT Marketplace are among the features available.
The recent crypto market crash was painful for many investors; it was also a wake-up call. It showed that the market is still young and volatile and that the crypto flock needs to be careful when putting their money into cryptocurrencies.
Most of the popular cryptocurrencies lost their initial value, including Basic Attention Token (BAT),Ethereum (ETH), and Litecoin (LTC). Under such circumstances, Mehracki (MKI) looks like a new ray of hope. This is partly due to the company’s focus on providing services to institutional investors rather than retail investors who have been hit hardest by the sell-off. Let us look deeper into the present and future of the highlighted cryptocurrencies.
What is Basic Attention Token (BAT)?
Basic Attention Token (BAT)is a decentralized, open-source digital advertising platform built on the Ethereum blockchain. The project was created by Brendan Eich, who uses the Brave browser as its primary vehicle for delivering ads. The goal of the BAT project is to disrupt the existing online advertising model, which has been plagued by mediators, fraud, and privacy violations. Using blockchain technology, BAT aims to create a more efficient and transparent ecosystem for digital advertising.
The BAT platform is still in its early stages, but the team behind it has ambitious plans to grow the ecosystem and create a new standard for digital advertising. If successful, BAT could upend the online advertising industry and provide a better experience for both publishers and users. The goals of Basic Attention Token (BAT) are to improve the efficiency of digital advertising, assist publishers and content creators in getting compensated fairly for their work, and provide a better UX by reducing clutter and enhancing privacy.
What is Mehracki (MKI), and How is it different?
Mehracki (MKI) is a new meme-based cryptocurrency that has been designed to provide users with a fun and easy way to transact using digital currency. The project has been created by a team of developers passionate about making cryptocurrencies more accessible and user-friendly. Mehracki (MKI) differs from other digital currencies in several key ways:
Mehracki is specifically designed as a meme coin, focusing on providing users with funny and entertaining content.
Mehracki is built on top of the Ethereum blockchain, which means that it benefits from the security and stability of this well-established network.
Mehracki(MKI) includes a unique “meme marketplace” where users can buy and sell popular memes using the (MKI) token.
Mehracki is available on major exchanges such as Binance and Kucoin.
Features of Mehracki (MKI)
– Utilitarian Model
The Utility Model of the Mehracki (MKI) enables people to buy and sell goods and services using a decentralized, peer-to-peer network. (MKI) is based on blockchain technology, which allows secure and transparent transactions. The Utility Model of the Mehracki (MKI) is a great way to buy and sell goods and services without going through a central authority.
– Incentivized Adoption
The Incentivized Adoption of MKI is perfect for getting people interested in using and investing in the coin. Offering a reward for users who adopt the coin encourages more people to use it. This, in turn, drives up demand, thus increasing the coin’s value.
– Real-Life Application
Mehracki (MKI) is more than just digital currency – it is a tool that can be used in the real world to make things happen. Thanks to its unique features, Mehracki (MKI) can be utilized to create and power smart contracts, decentralized applications, and much more.
What To Make Of It
After the recent crypto market crash, predicting the future value of any coin is challenging, if not impossible. However, Mehracki (MKI) has just stepped in, and its future looks very promising. Mehracki (MKI) is a digital currency that offers several advantages over other digital competitors on the market. It claims to provide transparency and trust on top of its power-packed features that allow token-holders to take charge. Not only that, it enables users to exchange this token as a unitary value and ensures authentication and verification of all transactions. Overall, Mehracki (MKI) is an ambitious cryptocurrency with much potential.
• Offering zero-fee trades for linear perpetual swaps (up to 8 trading pairs) • Official Cryptocurrency Exchange to be launched by October 2022
Seychelles, June 15, 2022 – Bitflex Inc. (the “Company,” “we” or “our”), a blockchain technology company in the global market, today announced that the Company will commence BETA testing of its cryptocurrency exchange and plans to officially launch the exchange by October this year.
The Bitflex exchange offers an aesthetically pleasing interface built-in with news, notifications, and charting tools to create a superior environment for users to make the most educated trades. The BETA platform will offer up to 8 trading pairs for linear perpetual swaps. BETA versions are immediately available on https://www.bitflex.com.
“We are so excited to finally be opening up beta testing after a long road of development,” states CEO Ee Wui Yang, “we are confident the platform we have built will provide a safe and enjoyable trading environment for our users.”
“In addition, we are also providing zero-fee trades in our platform for the first month from our BETA testing launch which means anyone who signed up during the BETA testing does not need to pay any trading fees when they trade here. We are one of the few, if not the only crypto exchange in the world that is currently giving out this benefit.”
“We are doing this for a good reason as we understand that our platform is still in the works and there may be many areas of improvement needed for it to eventually compete with other crypto exchanges like Binance and ByBit and we want to provide an incentive for traders to come into our platform and help us build it through constructive feedback. Hence, we are more than happy to absorb the costs of their trading fees first.”
Bitflex Public BETA Testing
Bitflex encourages users to engage with the app’s beta version and discover potential issues and bugs. The development team relies on the testers’ feedback to identify and solve flaws. In return, testers can access exciting reward opportunities for their work. To this end, the team announced the necessary steps for participating in the public testing:
Interested users can follow our Twitter page for the latest updates on the exchange.
Join our BETA testing via a link.
Bitflex designed this space for fellow testers to interact and discuss individual experiences on the app. The team provided tutorial videos to help users understand the app’s features and navigate through its environment. In exchange for their public testing activity, Bitflex will be announcing a “Bug Bounty Campaign” soon to reward users handsomely with USDT giveaways!
Bitflex hopes that the beta testing will help it achieve the highest quality standards and deliver the best results. Bitflex’s team includes highly skilled professionals with backgrounds in investment banking, blockchain, data, and fintech.
Bitflex is a cryptocurrency exchange trading platform that puts control back into the hands of traders while maintaining a scalable, secure, and performant exchange. Users can enjoy zero-free trades while trading perpetual swaps during our Beta Phase while having the opportunity to participate in numerous campaigns with highly attractive rewards.
Media Queries:
Nicholas Jack, Public Relations Lead Mobile: +6017-2880051 E-mail: n.jack@bitflex.com
Dual Investment is a unique savings/investment product that allows you to earn income, regardless of the direction the market goes
Dual investment basically allows you to buy low or sell high a cryptocurrency at a set date in the future, earning high-interest income at the same time
With Dual Investment, you will get back the deposit amount and interest income in either of the two currencies used, whether the order is fulfilled or not
Dual Investment is a non-principal guarantee product, meaning that is isn’t fully protected against losses in the volatile crypto market
The cryptocurrency market can be a hard place to navigate, especially for newcomers. The majority of digital currencies are volatile, and the market can go in any direction, seemingly on a whim. One way to stay ahead and consistently earn returns for your investment is to use Binance’s Dual Investment.
Dual Investment is a sort of investment product that enables you to earn interest, regardless of the direction of the market. The central idea is to buy cryptocurrencies low and/or sell them high at a predetermined date in the future. With Dual Investment, you can achieve the following:
Take profits at a calculated rate
Buy the dip while earning passive income
Grow your HODLed digital asset
Grow your stablecoin stash
Compounding your returns during a short-term volatile market
Are you thrilled by the idea of Dual Investment? Do you wish to understand what it entails? Are you eager to start buying low and selling high? We will discuss everything you need to know to get started and also guide you on how to move from the beginner mode to the advanced mode.
In simple terms, Dual Investment is a non-principal protected saving product that allows investors/traders to deposit a cryptocurrency and earn enhanced yield, based on two assets. Typically, it allows users to commit their digital assets (i.e. lock asset in a yield), make a prediction, and choose a settlement date. The return can either be paid in deposit currency when the product is not exercised or in alternate currency when the product is exercised.
A simpler way to describe Dual Investment is that it offers crypto investors opportunities to buy low or sell high at a preset date in the future. The main idea is to be positioned to earn interest, regardless of the direction the market goes.
Dual Investment – How Does It Work
With Dual Investment, crypto investors get the opportunity to buy an asset at a lower price or sell an asset at a higher price in the future. During the subscription period, the committed assets are locked. However, users can earn a high-interest yield during the subscription period, regardless of the market direction.
To fully understand how Dual Investment works, you need to look at the two distinct approaches – sell high and buy low:
Sell High
The sell high approach offers you a chance to sell your crypto at a high price on the settlement date if the market price reaches your target price.
The process is pretty straightforward. You need to deposit your desired cryptocurrency (not a stablecoin), choose a target price (a high price target you aim to sell at), then select the settlement date.
If on the settlement date, the market price is above your target price, it is considered a successful bet and your order is filled. When this is the case, your subscription amount and accumulated interest are sold at the target price and then you get your reward in BUSD.
On the other hand, if the market price of your asset is below the target price on the settlement date it is considered an unsuccessful bet, and the order is not filled. However, you will still receive the full amount you deposited, as well as accumulated interest income, in the same currency you deposited.
Buy Low
The buy low approach is similar to the sell high approach in many regards. It offers you a chance to buy crypto at a low price in the future if the market price reaches your target price.
To buy low, you need to deposit a stablecoin (BUSD or USDT), choose a currency to buy (for example ETH) and its price target, then choose a settlement date.
If on the settlement date, the market price is below the target price, it is considered a successful bet and the order is filled. If this is the case, your subscription amount and earned interest income will be used to buy the crypto (ETH in this case) at the target price.
If, on the other hand, the market price is higher than the target price, it is considered an unsuccessful bet and the order is not filled. In this case, you will still get the amount you deposited as the accrued interest in the deposit currency/stablecoin (either BUSD or USDT).
The Key Benefits of Dual Investment
Dual Investment is a relatively safe way to trade cryptocurrencies. Your sell high or buy low order will yield interest income, whether the order is filled or not. The only difference is that filled orders bring interest in the desired currency while unfilled orders bring interest in the deposited currency.
Other key benefits of Dual Investment, especially as offered by Binance, include:
High-interest yield, regardless of the direction the market goes
Wide selection of assets to buy low or sell high at targeted prices in the future
Zero trading fees.
Comparing Dual Investment with Spot Limit Orders or HODLing
From what we’ve covered so far, it will seem Dual Investment is the best approach to crypto investing/trading. This is not the case in all instances.
How does Dual Investment compare with hodling? Are you better off spot limit orders instead of targeting to buy high or sell low with Dual Investment?
We will compare Dual Investment with hodling using the possible scenarios you can encounter in ‘Sell High’ Dual Investment.
There are three possible scenarios when you choose the crypto to sell high at a future date:
Scenario 1: The target price is not reached. In this case, you will keep your crypto and enjoy the high-interest yield. Obviously, Dual Investment is better than hodling in this regard.
Scenario 2: The target price is reached, but the market price is only slightly higher. Though you will sell your crypto at a price that is slightly lower than the market price, the accrued interest income will compensate for the price difference. In this case, Dual Investment is also better than hodling.
Scenario 3: The target market is reached and the current market price is significantly higher than the target market. In this case, you will sell your crypto at a significantly lower price than the current market price. The additional interest income may compensate for the price difference to a certain level, but it won’t be enough. Ultimately, hodling is the winner in this scenario.
When compared to spot limit orders, the Dual Investment strategy appears to be more attractive for many reasons. For a start, you stand a chance to buy low or sell high at preset dates. Also, you will earn interest income whenever you use dual investment, irrespective of the direction the market goes. Again, there are no trading fees when you use Dual Investment, unlike when you use spot limit orders.
The only area spot limit orders have Dual Investment beat is in the level of risks associated with each respective trading product. With dual investment, there are higher chances that orders are not filled on the settlement date. This, however, does not mean you will lose your money. Rather, you are settled with the same currency and interest income, though the market value may drop.
Getting Started with Dual Investment
Are you willing to try Dual Investment? There are a few important terminologies you must understand:
Subscription Amount is the amount you deposit when subscribing to a dual investment
Target Price is the price you choose to either sell your asset (Sell high) or buy an asset (buy low)
Settlement Date is the set date you will buy or sell the selected asset. 08:00 (UTC) is the checkpoint to determine whether the target price is reached.
Settlement Price is the market price average 30 minutes before 08:00 (UTC) on the settlement date. Together with the target price, the settlement price determines whether an order is filled or not.
Annual Percentage Yield (APY) is the interest you will earn if you lock your asset for 1 year. Of course, you can choose how long you want to lock the asset and the APY will be used to calculate your possible interest income.
Subscription Period refers to the number of days from the subscription date to the settlement date
How to Subscribe to Dual Investment
To subscribe to an investment product via Dual Investment on Binance, follow the simple steps below:
Step 1: Log in to your Binance account and go to [Earn] – [Dual Investment]
Step 2: Choose the asset you want to buy or sell and complete the Dual Investment quiz if it is your first time using the product
Step 3: Choose to either “Sell High” or “Buy Low”
Step 4: Enter your target price and select a settlement date
Step 5: Enter your subscription amount, read and agree to the ‘service agreement’ and click on [Subscribe]
Please note that we have used the “Beginner Mode” for the purposes of this guide due to a more streamlined and user-friendly interface.
Dual Investment Beginner Mode
It’s often best to start cautiously when you are new to an investment/saving product. Binance understands this and has created a beginner mode for Dual Investment. As the name suggests, this is a mode for beginners, and it provides a step-by-step guide through the subscription process.
You can enter and exit the beginner mode with a toggle button. It is advisable to use the beginner mode when you are just starting off. Once you are familiar with dual investment, you can turn it off and enjoy all the advanced features offered by Dual Investment.
What are the Risks Involved with Dual Investment?
Though Dual Investment offers several key benefits, it is not immune to risks. In fact, the risks are almost as prominent as the risks of buying and selling crypto at the spot market with a limit order. Understanding these risks can help you position yourself better.
Here are some risk factors you can expect with Dual Investment:
If the market price surpasses your target price by a big margin (low or high), you will be forced to sell or buy the digital asset at an unfavourable price. You may lose some big opportunities to make huge returns.
The dual investment trade can only happen at the settlement date and not any other day. Your potential earnings depend largely on what happens on that day and the market situation around 8:00 (UTC) on that day.
Subscribed (locked) assets remain inaccessible to users until the settlement date. You can’t redeem the order or cancel it once you have subscribed.
Dual Investment is not a principal guaranteed product, meaning that it doesn’t protect against losses at the maturity of the investment. What this implies is that subscribing to dual investment doesn’t mean your crypto may not decrease in value upon maturation. The market price determines whether you make a profit or not. The only assurance is that you will earn interest income, regardless of the direction the market goes.
Wrapping Up
Binance Dual Investment allows you to earn passive income from your crypto investment, regardless of the direction the market goes. It is a worthy alternative to staking and hodling. Binance has been gracious enough to provide a beginner mode for newbies.
We’ve covered most things you need to know about Dual Investment and how to get started. You can learn more about the product here.
