As I mentioned in previous posts, our brothers and sisters from Venezuela are influenced to come here to Binance by miraculous offers of quadrupling their money. I don't promise that, only information about the tools.
It may seem intimidating (I felt that way in my beginnings), but once you understand it, it will open many doors, the most valuable being discernment and autonomy.
In this case, it's worth remembering some simple rules, so they imprint on your subconscious.
1. Have a project: It's ideal to have a realistic goal when investing money. Be aware that doubling your initial investment is already exceptional. Don't trust projects that promise 1000x returns.
2. Be prepared: Remember this is not a casino, and don't treat your money like a game. If you're investing, make sure your basic needs are covered.
3. Protect your capital: Don't convert all your capital into a cryptocurrency you don't even understand. An ideal option is to keep your money in stablecoins like $USDT and $PAXG (Gold). This will help you stay calm until you learn more.
Today I'll briefly talk about Dual Investment. You can access it through the Earn option, and you'll notice it offers higher returns than Earn Flexible.
WHAT DOES IT CONSIST OF?
It's basically about selling high (Sell High) and buying low (Buy Low). Suppose $XRP is at $2.50 and you say: "I'll sell if it reaches $2.80."
⭕ If it reaches $2.80: Binance sells your XRP. And you take the profit from the price increase and the interest.
⭕ But if it doesn't reach $2.80: You get your XRP or any other coin back. You didn't sell, but now you have more XRP than before thanks to accumulated interest.
DUAL INVESTMENT HAS ADVANTAGES:
1. Fixed profit: You earn interest for waiting until the price reaches your target. You'll receive the fixed interest regardless of the outcome.
2. No fees: Once the transaction is completed, there are no transaction fees.
3. Opportunity hunter: You can wait for a solid coin like SOL to drop in price (Buy Low), then take advantage of the subsequent rebound to sell high (Sell High)
WATCH OUT! BROTHERS FROM VENEZUELA, THERE ARE CAUTIONS.
1. Locked funds: Once you enter, you cannot withdraw the money until the settlement date. In other words, unlike Earn Flexible or Futures, you won't have access to this money for a period of time.
2. Possible FOMO: It's possible that even if you sell at a high price, the price could keep rising after you sold, or it could keep falling, meaning you bought at a higher price. This could lead to frustration.
ADVICE TO FOLLOW.
1. Settlement Date: Remember that the capital you invest here won't be available for a set period, known as the Settlement Date. This money is locked, and the longer it stays, the higher your interest (APR). Don't be blinded by high interest; use a prudent time frame.
2. Don't be blinded by (APR): There can be extremely high interest rates depending on how volatile the cryptocurrency is. Your money won't be affected, but you might end up selling much lower and buying much higher.
3. Be realistic with the price (Tarjet Price): You can choose a conservative price to increase your chances of selling, or you can take a big risk with a significant price jump. Be conservative. It's not a casino.
4. Education is important: There is a lot of information available on Binance that offers small amounts of cryptocurrency. Knowledge is your weapon against scammers.
I hope you enjoyed it, share and follow me. By Eneas BB, I'll keep uploading content.
¡VIVA VENEZUELA!