Change the strategy, I never advise the people around me to touch HY. I have never seen anyone end well. There was a peak A9, and now they are over 200 in debt and have gone to work.
HY has nothing to do with execution power. Don’t really think that if it exploded today, it’s your fault, and don’t self-PUA. In all legally recognized blockchain countries, have you ever seen HY? Can you guess why?
In the crypto world, choice always outweighs opportunity. I entered the crypto world in 2018, and at first, I didn’t understand. I bought whatever had risen on HUOBI in the past few days, and within half a year, I lost 40, almost all of my assets.
Starting in the second half of 2018, I researched strategies myself. At that time, I went to short, working for over ten hours a day with over a hundred IDs, and when BNB soared in 2019, I soared too. That’s how I made my first 1 million in the crypto world.
Then by 2020, I couldn't play shorting anymore, and I encountered company layoffs, so I resigned and went full-time into the crypto world.
I changed my strategy again, went to hedge the interest rate spread, and by the end of 2022, I officially stepped into A8. Until today, my strategy still hasn’t changed.
Just to verify, I currently have nearly 28 Bitcoins in spot trading, accumulated step by step over the years.
The crypto world itself is full of opportunities. Only with the right strategy and methods can one encounter suitable opportunities. Many people don’t understand anything and just follow the trend of HY into the crypto world. Is HY the only thing in such a large crypto world? If that’s your understanding, then what are you doing here if you’re not a target?
The simplest is to short, metaverse wool, and for advanced ones, M grid, hedging interest rate spread, HRF, there are so many. Foreign countries prohibit high leverage, HY. Have you ever thought about why? Where is the fairness?
Taking my own strategy as an example, I simply share how I determine.
I’ve been hedging interest rate spreads for almost 6 years now, and I haven’t seen any time that I blew up.
This is a screenshot taken right now, on July 9, 2025.
Image 1 shows the largest exchange on the South Korean side, with the current Bitcoin price being 148 million Korean won.
Image 2 shows a certain safety shoe in the country, current price, 780,000.
Then calculate using Korea’s largest settlement center, WISE.
Author: A coder working in Korea.
Link: https://www.zhihu.com/question/546616778/answer/1926330364932122019
Source: Zhihu
Copyright belongs to the author. For commercial use, please contact the author for authorization; for non-commercial use, please indicate the source.
A Bitcoin costing 148 million in South Korea, when calculated, is 810,000, while in the country it is 780,000.
There is a difference of 30,000 on both sides, which is the interest rate spread. What you need to do is hedge this spread.
Why does the interest rate spread exist? Why isn’t the Bitcoin price the same globally? Why is there a difference?
If you have this problem, your common knowledge of economics and international crypto knowledge is basically zero.
Let me explain simply. The appearance of interest rate spreads is because Bitcoin is globally priced in USD, but in almost all legally recognized blockchain places, it is not directly purchased with USD, but with local fiat currencies. For example, in South Korea, it is directly purchased with Korean won, not through USD. Moreover, South Korea doesn’t even use USDT; it wasn’t listed until 2024 and not many people use it.
Based on this, there is an unequal exchange rate difference between USD, USD, and Korean won. This is basic economic knowledge, commonly referred to as triangular exchange rate differences. If you don’t understand, learn on your own online.
Based on these factors, the interest rate spread has emerged.
After understanding the principles, it’s just a process, not complicated.
Bought in the country, sent to South Korea, then sold. Don’t mention it, just directly transfer MID COIN and bring it back, and that’s it.
The entire process chain is done in one go, with no cash involvement, which avoids almost all possible risks.
The entire process takes about 30 minutes, at most 40 minutes.
There is a loss! Mainly from gas fees, transfer fees, volatility wear, etc.
In reality, after deducting all losses, I can capture 60-70% of the interest rate spread at this level.
Currently, I basically use 0.2 Bitcoins at the least and up to 0.5 Bitcoins at the most for each cycle.
After deducting all losses, the interest rate spread I capture in each cycle is between 320 and 680 USDT.
However, it should be noted that this cycle is not infinite. South Korea has restrictions, calculating that at most 15 times a day, but in reality, about 8-10 times is about right.
Also, note that:
1. Hedging interest rate spreads is not just about Bitcoin; the choice of Bitcoin is due to its stable volatility.
2. KYC in South Korea can be bypassed using LTE SK CARD. Many people in the country don’t know this; they think they must be in Korea, which is not necessary. It’s just an information barrier.
3. There is a limit to the number of times you can hedge interest rate spreads. As I mentioned, the specific reason is South Korea's restrictions. However, because of this limitation, it cannot be automated; the API is completely locked, and it must be done manually, so it takes time. Every day, I have to spend at least 2-3 hours.
4. The strategy of hedging interest rate spreads is about accumulating small amounts into large piles. It’s not about getting rich overnight. I spent 3 years, working about 10 hours a day, just to reach A8. Those who reach A8 in a week don’t compare themselves; if you don’t have this patience, don’t do this.
Back to the end, if you keep losing in the crypto world, think about it. How much do you understand about economics? How much do you know about blockchain technology? How much do you know about market principles? If you can’t say a word about these points, and you run off to play HY, who’s the target if not you?
My own strategy involves hedging interest rate spreads, making over 4,000 USDT on busy days and just over 1,000 USDT on slower days. For people playing HY, they don’t care at all, but I’m stable, and I can sustain it. Looking back over the years, I have moved forward step by step, while others seem to be on a roller coaster. In the end, who is the winner?
I’ll share two sentences.
1. There are countless ways to play in the crypto world; choosing what suits you is always better than following the crowd.
2. If all your understandings are correct, why don’t you have what you want in your pocket?
