Tether, also known as USDT, is a controversial cryptocurrency issued by Tether Limited, which is controlled by the owners of Bitfinex. USDT is a stablecoin. Issued in 2014, this coin is based on a blockchain-based platform that facilitates the use of fiat currencies through digital means. (1) What is brick arbitrage The difference between the price and the withdrawal fee is your profit. (2) The principle of brick arbitrage ①The usual way of operation is to buy a large amount of USDT coins with fiat currency, then use the USDT coins and exchange them for other digital currencies, such as bitcoin, ethereum, etc. through coin trading. How does the exchange of bitcoins for money work? First, you exchange your bitcoins for USDT coins via coin trading, then you sell your USDT coins for fiat coins via fiat trading. When you want to cash out, you sell the USDT to them and they give you fiat currency. When you want to buy USDT, they will sell you coins again, so back and forth, naturally, it is the profit of the difference. ② There are hundreds of digital currency exchanges that exist worldwide. The same USDT coin has a small difference in price on each exchange, such as a few cents, a few percent, etc. USDT merchants buy USDT on exchanges with low prices and sell USDT on exchanges with high prices, earning the difference. This way, both bear and bull markets are profitable and less risky. This less risky arbitrage operation is known as bricking in the cryptocurrency world. However, there is a fee for transferring USDT to each other. The more you transfer, the higher the fee. Therefore, the bricking method is not very popular nowadays. (3) Arbitrage method ① Wait for the right spread to appear. The actual money is used to calculate the fee, and it is profitable to move the bricks when the spread reaches a certain amount. Firecoin Coin Moving "Handling Fee List Transaction fee huobi.aeo 0.2% of the turnover of Firecoin Coin App 0.1% of the turnover of Coinan Withdrawal BTChuobi.aeo Firecoin 0.001 BTC per time Coin App Coin 0.0005 BTC per time Withdrawal USDThuobi.aeo Fire 5 USDT each time Coin On App Coin On 5 USDT each time3 ②Both platforms operate simultaneously to buy and sell. Buy BTC where the price is low, while selling BTC where the price is high, you can achieve: the number of BTC you hold remains the same, but the USDT held in your hand becomes more. Note that there is a fee for trading, a full list of fees is included at the end of this article. Using the "Coin App": Buy BTC Operate on "huobi.com": Sell BTC ③Balancing the move pool. You don't know which side of the platform will be the low bidder next time the price difference appears, so you need to have USDT and BTC on both platforms beforehand, so that you can continue to move bricks when the price difference is larger next time. Note that there is a fee for transferring coins across platforms, a full list of fees is included at the end of the article. Transferring BTC from "Coin App" to "huobi.aeo Transferring USDT from "huobi.aeo" to "Cryptocurrency App (4) Withdrawal Buy BTC with USDT, then move these BTC to an OTC trading platform and sell them for fiat currency. Note that it takes time to transfer coins, and if the price fluctuates drastically, it is easy to cause losses. ①Buy BTC on "huobi.aeo" with USDT ②Transfer BTC to the "bitpie App" over-the-counter trading platform ③Exchange BTC for fiat currency on the "bitpie App" OTC trading platform
The content introduced above is only about the basics of cryptocurrency, which is related to whether we can make money through cryptocurrency. Cryptocurrencies make money not only by scientific methods to increase income, but also by 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 register using the invitation link below or use the invitation code "Q022W7SC". 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 saving 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.
