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...
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1、What is the currency standard (1) Introduction First we need to understand how our fiat money enters the cryptocurrency market. To enter the cryptocurrency market, we need to buy digital assets (such as BTC, ETH, USDT, etc.) with fiat currency through the OTC market (Over-the-Counter Market, known as fiat currency trading or C2C trading on OKEX and huobi) and then transfer them to the exchange for trading. When you leave the market, you can then sell the digital assets from the OTC market for fiat assets. Many entering the cryptocurrency market do not understand what a trading pair is, the so-called trading pair is asset anchoring. In the cryptocurrency market, the common trading pair would be XXX/BTC, so the cryptocurrency-based coin in the cryptocurrency market refers to Bitcoin (although there are other trading pairs that we are only discussing at this time). (2) Coin-based contract features Settled in cryptocurrency: Contracts are denominated and settled in the underlying cryptocurrency, without the need to hold stablecoin as margin. Contract multiples: Contract multiples reflect the value of the contract. A BTC contract represents $100, while an ETH contract represents $10. For example, a $1,000 BTC/USD 1225 quarterly contract is equal to $100 x 10 contracts, while a $1,000 ETH/USD 1225 quarterly contract is equal to $10 x 100 contracts. Maturities: perpetual, quarterly and bi-quarterly (3) Difference between currency standard and U-standard "For example, if you want to go long or short BTC, you will need to fill your contract account with BTC, and the final loss or gain will be settled in BTC. A cryptocurrency-based contract refers to a contract made with a coin other than USDT, using the coin as margin. In the case of Bitcoin, for example, a cryptocurrency-based contract is one that uses Bitcoin to earn Bitcoin, and the profit or loss is settled in Bitcoin during the transaction, with the exact profit being calculated on the rise or fall in the value of the coin itself. For example, if you want to go long or short BTC, you need to fill your contract account with BTC, and the final loss or gain will be settled in BTC. The U-position, on the other hand, is to use USDT as margin, and the profit or loss of the contracts made will be settled in USDT. Or this way of understanding, "U-standard" means that the USDT is used as the liquidity certificate for the opening and final settlement of positions, no matter long or short BTC or ETH or other currencies, you need to fill the contract account with USDT, and the final loss or gain will be settled in USDT. (4) Cryptocurrency-based advantages The advantages of cryptocurrency-based contracts Cryptocurrency-based contracts are denominated and settled in cryptocurrencies. For example, to open a position in the BTC/USD 1225 quarterly contract, only BTC needs to be invested as initial margin. This is ideal for miners or holders. The contracts are settled in the underlying cryptocurrency and the proceeds can be used to build up capital over time. In addition, as the price continues to rise, the value of the collateral increases accordingly. This is a great way to boost cryptocurrency holdings in the long run. To hedge a position in the contract market, there is no need to convert your holdings to USDT, so there is no need to sell any cryptocurrency at a discounted price. To hedge, simply take a short position in any cryptocurrency-based quarterly futures contract. If the price of the underlying asset falls, the proceeds from the contract position are sufficient to offset the losses in the portfolio.
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.
1、What is the currency standard (1) Introduction First we need to understand how our fiat money enters the cryptocurrency market. To enter the cryptocurrency market, we need to buy digital assets (such as BTC, ETH, USDT, etc.) with fiat currency through the OTC market (Over-the-Counter Market, known as fiat currency trading or C2C trading on OKEX and huobi) and then transfer them to the exchange for trading. When you leave the market, you can then sell the digital assets from the OTC market for fiat assets. Many entering the cryptocurrency market do not understand what a trading pair is, the so-called trading pair is asset anchoring. In the cryptocurrency market, the common trading pair would be XXX/BTC, so the cryptocurrency-based coin in the cryptocurrency market refers to Bitcoin (although there are other trading pairs that we are only discussing at this time). (2) Coin-based contract features Settled in cryptocurrency: Contracts are denominated and settled in the underlying cryptocurrency, without the need to hold stablecoin as margin. Contract multiples: Contract multiples reflect the value of the contract. A BTC contract represents $100, while an ETH contract represents $10. For example, a $1,000 BTC/USD 1225 quarterly contract is equal to $100 x 10 contracts, while a $1,000 ETH/USD 1225 quarterly contract is equal to $10 x 100 contracts. Maturities: perpetual, quarterly and bi-quarterly (3) Difference between currency standard and U-standard "For example, if you want to go long or short BTC, you will need to fill your contract account with BTC, and the final loss or gain will be settled in BTC. A cryptocurrency-based contract refers to a contract made with a coin other than USDT, using the coin as margin. In the case of Bitcoin, for example, a cryptocurrency-based contract is one that uses Bitcoin to earn Bitcoin, and the profit or loss is settled in Bitcoin during the transaction, with the exact profit being calculated on the rise or fall in the value of the coin itself. For example, if you want to go long or short BTC, you need to fill your contract account with BTC, and the final loss or gain will be settled in BTC. The U-position, on the other hand, is to use USDT as margin, and the profit or loss of the contracts made will be settled in USDT. Or this way of understanding, "U-standard" means that the USDT is used as the liquidity certificate for the opening and final settlement of positions, no matter long or short BTC or ETH or other currencies, you need to fill the contract account with USDT, and the final loss or gain will be settled in USDT. (4) Cryptocurrency-based advantages The advantages of cryptocurrency-based contracts Cryptocurrency-based contracts are denominated and settled in cryptocurrencies. For example, to open a position in the BTC/USD 1225 quarterly contract, only BTC needs to be invested as initial margin. This is ideal for miners or holders. The contracts are settled in the underlying cryptocurrency and the proceeds can be used to build up capital over time. In addition, as the price continues to rise, the value of the collateral increases accordingly. This is a great way to boost cryptocurrency holdings in the long run. To hedge a position in the contract market, there is no need to convert your holdings to USDT, so there is no need to sell any cryptocurrency at a discounted price. To hedge, simply take a short position in any cryptocurrency-based quarterly futures contract. If the price of the underlying asset falls, the proceeds from the contract position are sufficient to offset the losses in the portfolio.
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.
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