BTCWhat is OKX? Team Background and History (OKX's most authoritative mystery solving)
1. OKX was founded in 2017 as a cryptocurrency trading services company. The company has since amassed over 20 million users and expanded its digital asset investment portfolio, which includes OKX Earn, a tool for earning passive cryptocurrency income, an NFT trading platform and decentralised app discovery centre, and the recently launched MetaX, OKX's new decentralised model that offers a cross-chain dashboard and self-hosted Web 3.0 wallet for storing (digital assets such as NFT). Wit...
BTCWhat is pledging
You can think of an equity pledge as a less resource intensive alternative to mining. This option involves placing holdings into cryptocurrency wallets to provide security and operational support for the blockchain network. Simply put, equity pledging is the act of locking up cryptocurrencies for rewards. (1) What is a Pledge of Interest A pledge of interest is a process by which holders of a particular token can receive a reward. Pledges of interest originate from a proof-of-interest mechani...
BTCHow to play the perpetual contract (the most authoritative) translation
A perpetual contract is an "innovative" futures contract, pioneered by BitMEX. Traditional contracts have an expiration date, while perpetual contracts do not have a delivery date and can be held forever, so they are called perpetual contracts. (1) What is a perpetual contract? A perpetual contract is an innovative financial derivative that is based on a delivery contract, but has many differences from the previous one. A perpetual contract is similar to a secured asset market in that its pri...
BTCWhat is OKX? Team Background and History (OKX's most authoritative mystery solving)
1. OKX was founded in 2017 as a cryptocurrency trading services company. The company has since amassed over 20 million users and expanded its digital asset investment portfolio, which includes OKX Earn, a tool for earning passive cryptocurrency income, an NFT trading platform and decentralised app discovery centre, and the recently launched MetaX, OKX's new decentralised model that offers a cross-chain dashboard and self-hosted Web 3.0 wallet for storing (digital assets such as NFT). Wit...
BTCWhat is pledging
You can think of an equity pledge as a less resource intensive alternative to mining. This option involves placing holdings into cryptocurrency wallets to provide security and operational support for the blockchain network. Simply put, equity pledging is the act of locking up cryptocurrencies for rewards. (1) What is a Pledge of Interest A pledge of interest is a process by which holders of a particular token can receive a reward. Pledges of interest originate from a proof-of-interest mechani...
BTCHow to play the perpetual contract (the most authoritative) translation
A perpetual contract is an "innovative" futures contract, pioneered by BitMEX. Traditional contracts have an expiration date, while perpetual contracts do not have a delivery date and can be held forever, so they are called perpetual contracts. (1) What is a perpetual contract? A perpetual contract is an innovative financial derivative that is based on a delivery contract, but has many differences from the previous one. A perpetual contract is similar to a secured asset market in that its pri...
Share Dialog
Share Dialog
Subscribe to BTC
Subscribe to BTC
<100 subscribers
<100 subscribers
To store cryptocurrency, you need a cryptocurrency wallet. Roughly speaking, a cryptocurrency wallet is a program that stores your private and public cryptographic keys that you need to access the blockchain in your own name and to make transactions with your cryptocurrency. The public key is similar to the wallet address, while the private key is used to unlock the public key. When someone wants to send you money, the other party will reassign their address to you. To do this, the sender needs access to their private key. Subsequently, to unlock and use the newly received money, you have to enter the private key that corresponds to your public key. (1) What is a software wallet A software wallet uses a random number to generate a master private key. A deterministic, irreversible algorithm then generates an arbitrary number of sub-private keys based on the master private key. So why use a "deterministic, irreversible" algorithm? Because "deterministic" ensures that all sub-private keys can be generated from a master private key, and "irreversible" ensures that the master private key cannot be reversed by a sub-private key. It is called a hierarchical deterministic wallet because the derivation structure of a private key is a tree structure, where a parent key can be derived from a series of child keys, each of which can be derived from a series of grandchildren, and so on, ad infinitum. When we first create an HD wallet or a backup wallet, a helper word is generated, which is a sequence of English words, and this sequence of words creates the seed, which in turn creates all the private keys. The sequence of words is also the backup of the wallet, which can be restored. And the seed corresponds to the random number of the determined wallet. (2) Types of software wallets Web wallets: With web wallets, you can access the blockchain via a browser interface without having to download or install any software. Web wallets cover trading platform wallets as well as other browser-based wallet providers. In most cases, you can create a new wallet and set an access password. However, some service providers may hold and keep the private key instead of the user. While this is convenient for new and inexperienced users, the risks behind it should not be overlooked. Not being able to hold the private key means that you are entrusting your funds to someone else for safekeeping. To address this issue, many web wallets now support users to manage their own keys, either across the board or by sharing control access through multiple signatures. Therefore, before choosing the ideal wallet, you should first check the technical means employed by the wallet. Practical protection tools should also be considered when using a cryptocurrency trading platform. Desktop wallets: As the name implies, a desktop wallet is a piece of software that is downloaded to and runs on your local computer. Unlike some web wallets, desktop wallets support the user to have full control over keys and funds. When a new desktop wallet is created, a file called "wallet.dat" is stored on your local computer. This file stores the private key information used to access the cryptocurrency and can be encrypted with a personal password. If you encrypt your desktop wallet, you will need to enter your password each time you run it before you can read the wallet.dat file. If this file is inadvertently lost or the password is forgotten, there is a high risk of losing access to the funds. It is therefore important that the wallet.dat file is carefully backed up and stored securely. Alternatively, you can export the relevant private key or mnemonic. In this way you can access your funds from another device if your computer is not working or if for some reason you cannot log in. In general, desktop wallets are likely to be more secure than web wallets, but only if the PC is clean and free of any malicious software before you can create and use a digital currency wallet. Mobile wallets: Mobile wallets are very similar in function to desktop wallets and are tailored to smartphones. These wallets are easy to use and allow funds to be sent and received via QR codes. Trust Wallet is a typical example of a mobile cryptocurrency wallet. However, just like computers, mobile devices are also highly susceptible to malicious apps and malware. We recommend that you encrypt your mobile wallet with a password and back up your private key (or mnemonic) in case your smartphone is lost or damaged. (3) Difference between hardware wallets and software wallets Hardware wallets are always offline and must be used in conjunction with another machine. The special way they are built dictates that they can be inserted into an infected PC or smartphone without the risk of the private key being compromised. They can then interact with software that allows the user to view their balance or make transactions. A software wallet allows users to use cryptocurrencies on any browser and mobile device, and it usually offers some additional features that make it easier for users to use cryptocurrencies. However, software wallets must be chosen with care as their security is affected by the service provider. (4) Advantages of software wallets Enables fast transactions Ability to manage multiple cryptocurrencies at the same time Facilitates active trading anytime, anywhere (5) Disadvantages of software wallets Online security risks such as hacking and fraud Risks to personal protection, such as computer viruses Third party storage of your private keys
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.
To store cryptocurrency, you need a cryptocurrency wallet. Roughly speaking, a cryptocurrency wallet is a program that stores your private and public cryptographic keys that you need to access the blockchain in your own name and to make transactions with your cryptocurrency. The public key is similar to the wallet address, while the private key is used to unlock the public key. When someone wants to send you money, the other party will reassign their address to you. To do this, the sender needs access to their private key. Subsequently, to unlock and use the newly received money, you have to enter the private key that corresponds to your public key. (1) What is a software wallet A software wallet uses a random number to generate a master private key. A deterministic, irreversible algorithm then generates an arbitrary number of sub-private keys based on the master private key. So why use a "deterministic, irreversible" algorithm? Because "deterministic" ensures that all sub-private keys can be generated from a master private key, and "irreversible" ensures that the master private key cannot be reversed by a sub-private key. It is called a hierarchical deterministic wallet because the derivation structure of a private key is a tree structure, where a parent key can be derived from a series of child keys, each of which can be derived from a series of grandchildren, and so on, ad infinitum. When we first create an HD wallet or a backup wallet, a helper word is generated, which is a sequence of English words, and this sequence of words creates the seed, which in turn creates all the private keys. The sequence of words is also the backup of the wallet, which can be restored. And the seed corresponds to the random number of the determined wallet. (2) Types of software wallets Web wallets: With web wallets, you can access the blockchain via a browser interface without having to download or install any software. Web wallets cover trading platform wallets as well as other browser-based wallet providers. In most cases, you can create a new wallet and set an access password. However, some service providers may hold and keep the private key instead of the user. While this is convenient for new and inexperienced users, the risks behind it should not be overlooked. Not being able to hold the private key means that you are entrusting your funds to someone else for safekeeping. To address this issue, many web wallets now support users to manage their own keys, either across the board or by sharing control access through multiple signatures. Therefore, before choosing the ideal wallet, you should first check the technical means employed by the wallet. Practical protection tools should also be considered when using a cryptocurrency trading platform. Desktop wallets: As the name implies, a desktop wallet is a piece of software that is downloaded to and runs on your local computer. Unlike some web wallets, desktop wallets support the user to have full control over keys and funds. When a new desktop wallet is created, a file called "wallet.dat" is stored on your local computer. This file stores the private key information used to access the cryptocurrency and can be encrypted with a personal password. If you encrypt your desktop wallet, you will need to enter your password each time you run it before you can read the wallet.dat file. If this file is inadvertently lost or the password is forgotten, there is a high risk of losing access to the funds. It is therefore important that the wallet.dat file is carefully backed up and stored securely. Alternatively, you can export the relevant private key or mnemonic. In this way you can access your funds from another device if your computer is not working or if for some reason you cannot log in. In general, desktop wallets are likely to be more secure than web wallets, but only if the PC is clean and free of any malicious software before you can create and use a digital currency wallet. Mobile wallets: Mobile wallets are very similar in function to desktop wallets and are tailored to smartphones. These wallets are easy to use and allow funds to be sent and received via QR codes. Trust Wallet is a typical example of a mobile cryptocurrency wallet. However, just like computers, mobile devices are also highly susceptible to malicious apps and malware. We recommend that you encrypt your mobile wallet with a password and back up your private key (or mnemonic) in case your smartphone is lost or damaged. (3) Difference between hardware wallets and software wallets Hardware wallets are always offline and must be used in conjunction with another machine. The special way they are built dictates that they can be inserted into an infected PC or smartphone without the risk of the private key being compromised. They can then interact with software that allows the user to view their balance or make transactions. A software wallet allows users to use cryptocurrencies on any browser and mobile device, and it usually offers some additional features that make it easier for users to use cryptocurrencies. However, software wallets must be chosen with care as their security is affected by the service provider. (4) Advantages of software wallets Enables fast transactions Ability to manage multiple cryptocurrencies at the same time Facilitates active trading anytime, anywhere (5) Disadvantages of software wallets Online security risks such as hacking and fraud Risks to personal protection, such as computer viruses Third party storage of your private keys
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.
No activity yet