1. (1) How to open a Binance contract account Before you can open a Binance Contracts account, you first need to register for a regular Binance account. If you have not yet registered for a regular account, please visit the Binance website and click on "Register" in the top right-hand corner of the screen. Then follow the steps below. Enter your e-mail address and create a secure password. If you already have a referrer ID, paste it into the "Referrer ID" box. Otherwise, you can click on the referral link later in the article to receive a 20% discount on spot/margin trading fees. When you are ready, click on "Create Account". You will shortly receive a verification email. Please follow the instructions in the email to complete your registration. Next, log in to your Binance account, move your mouse to the top bar of the page and click on "U-principal contracts". Click on "Open now" to activate your contract account. You have now completed the activation. You are now ready to trade! (2) How to fund your contract account You can flexibly transfer funds between the trading platform wallet (the wallet used in Binance) and the futures wallet (the wallet used in Binance contracts). To transfer funds to your personal futures wallet, click on "Transfer funds" on the right-hand side of the Binance contracts page. Set the amount you wish to transfer and then click on "Confirm" to complete the transfer. The corresponding balance will be transferred to your futures wallet shortly. The direction of the transfer can be reversed by using the double arrow icon shown below. This is not the only way to deposit funds into the Futures Wallet. You can also use the funds in your trading platform wallet as collateral and borrow USDT to trade contracts via the Futures Wallet balance page. In this way, there is no need to transfer funds directly into the Futures Wallet. Of course, the borrowed USDT must be repaid as usual. (3) How to adjust leverage The Coin On Contracts trading allows you to manually adjust the leverage of each contract. When selecting a contract, move your mouse over the top left corner of the page and hover over the current contract category (default is BTCUSDT). To adjust the leverage, go to the order entry field and click on the current leverage multiple (default is 20x). Adjust the slider or enter a value to set the leverage and click [Confirm] to do so. It is important to note that the larger the position the less leverage you can use. Conversely, the smaller the position, the more leverage you can use. In addition, higher leverage carries a higher risk of unwinding. Novice traders should therefore carefully consider the leverage available to them. (4) Difference between marked price and latest price In order to avoid price spikes and unnecessary liquidation during periods of high volatility, CoinSec has introduced a "Last Price" and a "Mark Price" for contract trading. The Last Price is easy to understand and represents the most recent price at which a contract was traded. In other words, the price of the most recent trade in your trading history is the 'Last Price'. It is used to calculate your realised profit and loss (PnL). The "marker price" is designed to avoid price manipulation. It is calculated by combining capital data with a package of spot trade data. The PnL and future P&L will be calculated based on the marker price. Please note that the marker price and the latest price may be different. When setting up an order type that uses the stop price as a trigger condition, you can choose to use either the latest price or the marker price as the trigger condition. To do this, select the price you wish to use from the 'Trigger condition' drop-down menu at the bottom of the order entry field. (5) Order types and how they are used Limit orders: These are orders that are placed in the order book at a specific limit price. When a limit order is placed, the transaction is only concluded when the market price reaches the limit price (or higher). A limit order therefore enables you to buy at a lower price or sell at a higher price than the current market price. Market order: is an order to buy or sell at the current best price. It is executed on the basis of a limit order previously published in the order book. When placing a market order, you will be required to pay a market order taking fee. Stop Limit Orders: The easiest way to understand what a stop limit order is is to break it down into a stop price and a limit price. The stop price is the price at which the limit order is triggered, and the limit price is the price at which the limit order is triggered. This means that a limit order will be posted in the order book as soon as the set stop price is reached. Although the stop price and the limit price can be the same, it is not necessary. In fact, it is safer to set the stop price (trigger price) slightly higher than the limit price in the case of a sell order and slightly lower than the current price in the case of a buy order. This can increase the chances of a limit order being filled. Market Stop Orders: Similar to Stop Limit Orders, Stop Market Orders use the Stop Price as the trigger. However, when the stop price is reached, it triggers a market order. Take Profit Limit Order: If you already fully understand the definition of a Stop Loss Limit Order, then a Take Profit Limit Order will be easy to understand. Similar to a Stop Limit Order, it contains a trigger price (the price at which the order is triggered) and a limit price (the price at which the limit order is added to the order book). The main difference between a Stop Limit Order and a Take Profit Limit Order is that a Stop Limit Order can only be used to reduce an open position. A take-profit limit order can be used very well to manage risk and lock in profits at a specific price. It can also be used in conjunction with other order types such as stop-limit orders to better manage a position. Take Profit Market Order: Similar to a Take Profit Limit Order, a Take Profit Market Order uses the Take Profit price as the trigger. The market order is triggered when the take profit price is reached. You can set a Stop Loss Market Order under the "Stop Loss Market" option in the order entry field. Trailing Stop Orders: Trailing Stop Orders help to lock in gains while limiting the potential loss of open positions. For long positions, if the price rises, the trailing stop will also rise. Conversely, if the price falls, the trailing stop will stop moving. If the price moves a specific percentage in the opposite direction, a sell order will be placed. The same is true for short positions, but the opposite is true. The trailing stop moves down with the market and stops moving when the market starts to rise. If the price moves a specific percentage in the opposite direction, a buy order is placed. The activation price is the price at which the trailing stop order is triggered. If no activation price is specified, the current latest price or marker price will be the default activation price. You can set which price should be used as the trigger price at the bottom of the order entry field. The retracement rate determines the percentage of the trailing stop "tracking" price. Therefore, if the retracement rate is set to 1% and the trade is placed in the selected direction, the trailing stop will always move with the price by a 1% margin. If the price moves by more than 1% in the opposite direction of the trade, a buy or sell order will be placed (depending on the direction of the trade selected). (6) How to use two-way position mode In two-way position mode, it is possible to hold both long and short positions in the same contract. What are the benefits of doing this? Let's say you have an open long position because you are optimistic that the price of Bitcoin will rise in the long term, but at the same time you may want to go short quickly within a shorter time frame. Two-way mode supports this - in this case, a quick short will not affect the long position. The default position mode is one-way. This means that you cannot hold a position in both directions for a single contract. If you do so, the positions in both directions will cancel each other out. So you will need to initiate this manually when using the two-way position mode. Here is what you need to do. Go to the top right of the screen and select [Personal Preferences]. Go to the [Position Mode] tab and select [Two-way Position Mode. (7) When a position will be forced to close If the margin balance falls below the required amount, a closeout will occur. The margin balance is the account balance of the CoinSec contract, including any unrealised gains and losses. This means that your profit and loss will result in a change in the margin balance. If using full position mode, this balance will be used as margin for all positions. If using position-by-position mode, the balance can be allocated to individual positions. The "Maintenance Margin" indicates the minimum margin required to maintain a position. The amount depends on the size of the position. The larger the position, the more maintenance margin is required. You can see the current margin ratio in the bottom right hand corner. If the margin ratio reaches 100%, the position will be closed out. In the event of a squeeze, all your open orders will be cancelled. The most sensible course of action is to avoid automatic position closing by tracking your position, as automatic position closing will incur additional commission. If you have a position that is about to be closed, then manual closing is preferable to automatic closing. (8) Automatic position reduction and its implications When a trader's account size falls below zero, insurance funds will be used to cover the loss. However, in some unusually volatile market environments, the insurance funds may not be sufficient to cover these losses and the shortfall must be covered by reducing the open position. In such cases, your open positions are also at risk of being reduced. The reduction of positions is done in a specific queue order, with the most profitable traders with the highest leverage being at the top of the queue. Hover over the [Positions] tab and click on [Automatic position reduction] (ADL) on the right to see where your current position is in the queue. 2. The above is just a basic knowledge of cryptocurrencies, which is related to whether we can make money with them. Making money with cryptocurrencies is not only about increasing your income by scientific methods, but also finding ways to save money. The handling fees are small, but they must not be ignored. I have calculated that with frequent transactions and long trading hours, the accumulation of fees can add up to more than 10,000 U a year. Next I will introduce a few common ways to reduce fees on large trading platforms. (1) Lowering Binance's fees Binance is currently the world's largest digital currency exchange, and you must sign up for Binance if you want to speculate on coins. The transaction fee is deducted from the assets received. For example, if you buy Ethereum/USDT, the fee is paid in Ethereum. If you sell Ethereum/USDT, the commission is paid in USDT. Example. You place an order for 10Ethereum at a price of USD3,452.55 per share. Transaction fee = 10Ethereum0.1% = 0.01Ethereum Or you place an order to sell 10Ethereum at 3,452.55 USDT per share. Transaction fee = (10Ethereum3,452.55USDT)*0.1% = 34.5255USDT What many people do not know is that the Binance transaction fee can also be reduced. If you want to reduce your Binance trading fees, you must use the invitation link below or use the invitation code "Q022W7SC" to register. https://accounts.binance.com/en/register?ref=Q022W7SC

(2) Reducing OKX fees OKX is a professional digital currency trading platform loved by many users, and its transaction fees can be reduced. Depending on the volume of transactions, OKX divides its users into two levels: normal and professional. Ordinary users are graded according to their OKB positions, while professional users are graded according to their trading volume and asset size. The different tiers determine the trading fees for the next trading day. When calculating the fee levels, if the coin trading volume, total trading volume of delivery and perpetual contracts (USDT delivery contract, coin-based delivery contract, USDT perpetual contract, coin-based perpetual contract), option contract trading volume, and asset volume meet the conditions of different fee levels, users will enjoy the fee discount of the highest level. First method: OKX has an official maximum savings rate of 20%. Use the link below to register with OKX and save 20% on fees. https://www.ouyi.business/join/BTC1ETH Second method: Open the OKX website and enter "BTC1ETH" in the "Invitation Code" on the registration page to see the cashback percentage: 20% at the bottom. Be sure to enter this invitation code, otherwise you can not get 20% cashback percentage. (3) Reduce FTX fees FTX is currently a very fast-growing, contract players more exchange, you must register FTX if you play the contract. if you want to reduce the FTX transaction fees, you must use the following invitation link to register. https://ftx.com/referrals#a=121031692 3, trading road is long, together with forward Want to know more about how to reduce the commission? telegram: btcethcool We have set up a community dedicated to researching trading, add telegram friends to pull you into the community.

1. (1) How to open a Binance contract account Before you can open a Binance Contracts account, you first need to register for a regular Binance account. If you have not yet registered for a regular account, please visit the Binance website and click on "Register" in the top right-hand corner of the screen. Then follow the steps below. Enter your e-mail address and create a secure password. If you already have a referrer ID, paste it into the "Referrer ID" box. Otherwise, you can click on the referral link later in the article to receive a 20% discount on spot/margin trading fees. When you are ready, click on "Create Account". You will shortly receive a verification email. Please follow the instructions in the email to complete your registration. Next, log in to your Binance account, move your mouse to the top bar of the page and click on "U-principal contracts". Click on "Open now" to activate your contract account. You have now completed the activation. You are now ready to trade! (2) How to fund your contract account You can flexibly transfer funds between the trading platform wallet (the wallet used in Binance) and the futures wallet (the wallet used in Binance contracts). To transfer funds to your personal futures wallet, click on "Transfer funds" on the right-hand side of the Binance contracts page. Set the amount you wish to transfer and then click on "Confirm" to complete the transfer. The corresponding balance will be transferred to your futures wallet shortly. The direction of the transfer can be reversed by using the double arrow icon shown below. This is not the only way to deposit funds into the Futures Wallet. You can also use the funds in your trading platform wallet as collateral and borrow USDT to trade contracts via the Futures Wallet balance page. In this way, there is no need to transfer funds directly into the Futures Wallet. Of course, the borrowed USDT must be repaid as usual. (3) How to adjust leverage The Coin On Contracts trading allows you to manually adjust the leverage of each contract. When selecting a contract, move your mouse over the top left corner of the page and hover over the current contract category (default is BTCUSDT). To adjust the leverage, go to the order entry field and click on the current leverage multiple (default is 20x). Adjust the slider or enter a value to set the leverage and click [Confirm] to do so. It is important to note that the larger the position the less leverage you can use. Conversely, the smaller the position, the more leverage you can use. In addition, higher leverage carries a higher risk of unwinding. Novice traders should therefore carefully consider the leverage available to them. (4) Difference between marked price and latest price In order to avoid price spikes and unnecessary liquidation during periods of high volatility, CoinSec has introduced a "Last Price" and a "Mark Price" for contract trading. The Last Price is easy to understand and represents the most recent price at which a contract was traded. In other words, the price of the most recent trade in your trading history is the 'Last Price'. It is used to calculate your realised profit and loss (PnL). The "marker price" is designed to avoid price manipulation. It is calculated by combining capital data with a package of spot trade data. The PnL and future P&L will be calculated based on the marker price. Please note that the marker price and the latest price may be different. When setting up an order type that uses the stop price as a trigger condition, you can choose to use either the latest price or the marker price as the trigger condition. To do this, select the price you wish to use from the 'Trigger condition' drop-down menu at the bottom of the order entry field. (5) Order types and how they are used Limit orders: These are orders that are placed in the order book at a specific limit price. When a limit order is placed, the transaction is only concluded when the market price reaches the limit price (or higher). A limit order therefore enables you to buy at a lower price or sell at a higher price than the current market price. Market order: is an order to buy or sell at the current best price. It is executed on the basis of a limit order previously published in the order book. When placing a market order, you will be required to pay a market order taking fee. Stop Limit Orders: The easiest way to understand what a stop limit order is is to break it down into a stop price and a limit price. The stop price is the price at which the limit order is triggered, and the limit price is the price at which the limit order is triggered. This means that a limit order will be posted in the order book as soon as the set stop price is reached. Although the stop price and the limit price can be the same, it is not necessary. In fact, it is safer to set the stop price (trigger price) slightly higher than the limit price in the case of a sell order and slightly lower than the current price in the case of a buy order. This can increase the chances of a limit order being filled. Market Stop Orders: Similar to Stop Limit Orders, Stop Market Orders use the Stop Price as the trigger. However, when the stop price is reached, it triggers a market order. Take Profit Limit Order: If you already fully understand the definition of a Stop Loss Limit Order, then a Take Profit Limit Order will be easy to understand. Similar to a Stop Limit Order, it contains a trigger price (the price at which the order is triggered) and a limit price (the price at which the limit order is added to the order book). The main difference between a Stop Limit Order and a Take Profit Limit Order is that a Stop Limit Order can only be used to reduce an open position. A take-profit limit order can be used very well to manage risk and lock in profits at a specific price. It can also be used in conjunction with other order types such as stop-limit orders to better manage a position. Take Profit Market Order: Similar to a Take Profit Limit Order, a Take Profit Market Order uses the Take Profit price as the trigger. The market order is triggered when the take profit price is reached. You can set a Stop Loss Market Order under the "Stop Loss Market" option in the order entry field. Trailing Stop Orders: Trailing Stop Orders help to lock in gains while limiting the potential loss of open positions. For long positions, if the price rises, the trailing stop will also rise. Conversely, if the price falls, the trailing stop will stop moving. If the price moves a specific percentage in the opposite direction, a sell order will be placed. The same is true for short positions, but the opposite is true. The trailing stop moves down with the market and stops moving when the market starts to rise. If the price moves a specific percentage in the opposite direction, a buy order is placed. The activation price is the price at which the trailing stop order is triggered. If no activation price is specified, the current latest price or marker price will be the default activation price. You can set which price should be used as the trigger price at the bottom of the order entry field. The retracement rate determines the percentage of the trailing stop "tracking" price. Therefore, if the retracement rate is set to 1% and the trade is placed in the selected direction, the trailing stop will always move with the price by a 1% margin. If the price moves by more than 1% in the opposite direction of the trade, a buy or sell order will be placed (depending on the direction of the trade selected). (6) How to use two-way position mode In two-way position mode, it is possible to hold both long and short positions in the same contract. What are the benefits of doing this? Let's say you have an open long position because you are optimistic that the price of Bitcoin will rise in the long term, but at the same time you may want to go short quickly within a shorter time frame. Two-way mode supports this - in this case, a quick short will not affect the long position. The default position mode is one-way. This means that you cannot hold a position in both directions for a single contract. If you do so, the positions in both directions will cancel each other out. So you will need to initiate this manually when using the two-way position mode. Here is what you need to do. Go to the top right of the screen and select [Personal Preferences]. Go to the [Position Mode] tab and select [Two-way Position Mode. (7) When a position will be forced to close If the margin balance falls below the required amount, a closeout will occur. The margin balance is the account balance of the CoinSec contract, including any unrealised gains and losses. This means that your profit and loss will result in a change in the margin balance. If using full position mode, this balance will be used as margin for all positions. If using position-by-position mode, the balance can be allocated to individual positions. The "Maintenance Margin" indicates the minimum margin required to maintain a position. The amount depends on the size of the position. The larger the position, the more maintenance margin is required. You can see the current margin ratio in the bottom right hand corner. If the margin ratio reaches 100%, the position will be closed out. In the event of a squeeze, all your open orders will be cancelled. The most sensible course of action is to avoid automatic position closing by tracking your position, as automatic position closing will incur additional commission. If you have a position that is about to be closed, then manual closing is preferable to automatic closing. (8) Automatic position reduction and its implications When a trader's account size falls below zero, insurance funds will be used to cover the loss. However, in some unusually volatile market environments, the insurance funds may not be sufficient to cover these losses and the shortfall must be covered by reducing the open position. In such cases, your open positions are also at risk of being reduced. The reduction of positions is done in a specific queue order, with the most profitable traders with the highest leverage being at the top of the queue. Hover over the [Positions] tab and click on [Automatic position reduction] (ADL) on the right to see where your current position is in the queue. 2. The above is just a basic knowledge of cryptocurrencies, which is related to whether we can make money with them. Making money with cryptocurrencies is not only about increasing your income by scientific methods, but also finding ways to save money. The handling fees are small, but they must not be ignored. I have calculated that with frequent transactions and long trading hours, the accumulation of fees can add up to more than 10,000 U a year. Next I will introduce a few common ways to reduce fees on large trading platforms. (1) Lowering Binance's fees Binance is currently the world's largest digital currency exchange, and you must sign up for Binance if you want to speculate on coins. The transaction fee is deducted from the assets received. For example, if you buy Ethereum/USDT, the fee is paid in Ethereum. If you sell Ethereum/USDT, the commission is paid in USDT. Example. You place an order for 10Ethereum at a price of USD3,452.55 per share. Transaction fee = 10Ethereum0.1% = 0.01Ethereum Or you place an order to sell 10Ethereum at 3,452.55 USDT per share. Transaction fee = (10Ethereum3,452.55USDT)*0.1% = 34.5255USDT What many people do not know is that the Binance transaction fee can also be reduced. If you want to reduce your Binance trading fees, you must use the invitation link below or use the invitation code "Q022W7SC" to register. https://accounts.binance.com/en/register?ref=Q022W7SC

(2) Reducing OKX fees OKX is a professional digital currency trading platform loved by many users, and its transaction fees can be reduced. Depending on the volume of transactions, OKX divides its users into two levels: normal and professional. Ordinary users are graded according to their OKB positions, while professional users are graded according to their trading volume and asset size. The different tiers determine the trading fees for the next trading day. When calculating the fee levels, if the coin trading volume, total trading volume of delivery and perpetual contracts (USDT delivery contract, coin-based delivery contract, USDT perpetual contract, coin-based perpetual contract), option contract trading volume, and asset volume meet the conditions of different fee levels, users will enjoy the fee discount of the highest level. First method: OKX has an official maximum savings rate of 20%. Use the link below to register with OKX and save 20% on fees. https://www.ouyi.business/join/BTC1ETH Second method: Open the OKX website and enter "BTC1ETH" in the "Invitation Code" on the registration page to see the cashback percentage: 20% at the bottom. Be sure to enter this invitation code, otherwise you can not get 20% cashback percentage. (3) Reduce FTX fees FTX is currently a very fast-growing, contract players more exchange, you must register FTX if you play the contract. if you want to reduce the FTX transaction fees, you must use the following invitation link to register. https://ftx.com/referrals#a=121031692 3, trading road is long, together with forward Want to know more about how to reduce the commission? telegram: btcethcool We have set up a community dedicated to researching trading, add telegram friends to pull you into the community.