My answer is yes, and this is how I have come along. I just entered the crypto world in 2019, I was even embarrassed to take out my principal. I think like you, just looking for some pocket money, can’t afford any risks, and just thinking it would be better than a savings account.
Then run to grab airdrops because there’s no capital, but it takes a lot of time; at most I had 140+ IDs and worked 15 hours a day.
Then in 2020, I directly earned my first 1 million in the crypto world.
Later, when the pandemic came, layoffs were quite serious here in South Korea, so I directly resigned and went full-time into crypto.
Continuously trying new strategies, grid trading, hedging interest differentials, grabbing NFT airdrops.
Then directly to A8 at the end of 22, I still feel dreamy when I think back to it now. The crypto world is indeed an opportunity, I can only say this.
Certification: currently holding 27 Bitcoins, accumulated over the years, striving to reach 30.
I personally believe there are countless opportunities in the crypto world, the core is to find a strategy that suits you, rather than blindly following the trend; rushing to HY is a dead end.
In 2019, grabbing airdrops benefited from HUOBI's demise, with Binance crazily snatching customers.
In 2020, NFTs first appeared, and the concept of the metaverse began, benefiting from the faith dividend.
Since 2021, playing with hedging interest differentials, benefiting from policy dividends.
These things require a vast information system, building your own knowledge system, rather than just reading posts from crypto world gurus every day, following blindly, and in the end blowing up and crying.
For example, in these four years, I played the hedging interest differential, which is a typical information issue.
For example.
Figure 1 is the largest exchange here, the price of one Bitcoin is about 150 million won+.
Figure 2 shows the price of a certain Bitcoin, 766,000.
Let’s do a simple calculation.
Check the largest settlement center in South Korea, WISE, and pay attention to the selling exchange rate, not the buying rate.
Now in South Korea, it’s 149,847,000 won, which calculates to 797,000, while in the domestic market it’s 766,000.
There’s a difference of 31,000 won for each Bitcoin on both sides.
The bad one is the interest differential.
Many people think that Bitcoin or all cryptocurrencies have the same price globally. How is that possible? This is a typical cognitive bias.
Firstly, Bitcoin can be directly purchased in all blockchain-compatible countries without the need for tokens to convert. Many people mistakenly think that the whole world uses tokens; this is a big misunderstanding. For example, in South Korea, tokens are not used, and there is no token-to-token exchange, only CASH to COIN.
So why does the interest differential occur? This is the reason.
Although Bitcoin is pegged to USD, the exchange rate difference between USD to us and USD to the won is unequal. This exchange rate difference is called triangular exchange rate difference. Many people should know, but didn't expect it to appear in the crypto world as well.
As long as the world is not unified, this triangular exchange rate difference will permanently exist, which leads to the birth of the interest differential. The gap between us and the won is the largest, also due to the won's sharp depreciation starting in 2018.
What needs to be done is very simple.
1. Bought domestically.
2. Send to the Korean exchange.
3. Sold and converted to won.
4. Convert to MID COIN.
5. Bring it back to the country.
6. All done.
The entire process takes about 20-30 minutes, with no CASH involved at all, everything is on-chain, and there is no possible risk.
Keeping my distance; sometimes I use 0.2 Bitcoin to transfer, and at most 0.5 Bitcoin.
Then after deducting GAS fees, transfer fees, wear and tear, etc., I can actually benefit from 60-70% of the interest differential.
That is, when it’s low, it’s over 200 tokens; when it’s high, it’s 400-500 tokens, at this level.
Every day 6-10 hours, facing the restrictions of the exchange, with the lowest at over 1100 tokens and a maximum of 3300 tokens in one day.
It is worth noting that:
1. Because the whole process does not involve CASH, KYC on the South Korean side can be bypassed using an LTE CARD.
2. Each time does not need a complete Bitcoin; small amounts multiple times are the most stable.
3. It’s not that one cycle ends and immediately another begins, but rather to observe the market, look at a lot of data, and make comprehensive decisions. In reality, 6-15 times a day is normal, with 15 times being the limit, which usually takes about 10 hours.
Back to the point, the opportunities in the crypto world are always fair and open to everyone. When you feel like you’re just a pawn, first consider whether you are blindly following the trend and seeking optimal solutions in areas that don’t suit you. The result will definitely be tragic. I have seen many people who couldn’t even understand big A, directly rushing to HY, and in the end, they blew up and cried. Why bother?
There is a saying I hope you can think about: the opportunities in the crypto world are not just about trading and HY; they are about finding a way that matches you through your own experimentation. It is an open world, not a place where there’s only one way that leads to darkness, where success or failure depends on luck.
My strategy is for reference only and might not suit you.
Finally, I wish everyone in the crypto world can achieve the results they desire.
