1. Two forms of trading
In the current trading of blockchain assets, there are two main types of transactions:
The purchase of legal currency, that is, the sale of legally recognized legal currency, such as the renminbi, the US dollar, the Japanese yen, the Korean won, etc., was the mainstream form of the market earlier. Later, with the national policy of last year, it has now become a supporting role.
Currency trading, that is, through the most recognized cryptographic assets in the blockchain, such as Bitcoin BTC, Ethereum ETH, Quantum Chain QTUM, etc., is the mainstream form of the current trading market.
If you want to buy mainstream encryption assets such as Bitcoin and Ethereum, there are still many channels that can be purchased through legal currency, but if you want to purchase other encrypted assets, you usually have to trade through the currency.
In order to facilitate everyone's investment, some anchored coins with relatively stable prices, such as USDT, BITCNY, QC, etc., have been born in the market. People can exchange these stable encrypted assets through legal currency and then use these encrypted assets to exchange other encrypted assets. For example, ZB can buy USDT and QC in RMB, and then purchase other encrypted assets with USDT or QC.
Therefore, your recharge button in the trading platform generally refers to recharging the encrypted assets instead of recharging the legal currency. In the blockchain world, each encrypted asset is stored by a wallet. Each wallet has a public address similar to the bank card number. We call it the public key, which is a string of characters or two-dimensional code that you see by recharging.
It should be noted that as long as the same kind of encrypted assets can be transferred or recharged. That is, you can transfer Bitcoin from one trading platform to the bitcoin address of another trading platform, but you cannot transfer Bitcoin from one trading platform to the Ethereum address of another trading platform. Otherwise, asset loss may occur, so the transfer is made. When you must choose the corresponding asset address.
Similar to the purchase process, withdrawals follow similar rules, except that the order is reversed. If you are a mainstream currency, you can realize it through direct trading outside the market; if it is a non-mainstream currency, you should generally trade it through the currency, first to the mainstream currency or the intermediate currency of the USDT, and then through the over-the-counter trading platform or on-site. The legal currency trading area is cashed out.
2. Three ways of trading
Whether you are buying a currency or trading a currency, there are currently three main ways:
Decentralized exchanges represented by bit stocks (such as HelloBTS), commonly known as intraday trading.
A centralized exchange represented by the currency exchange exchange, commonly known as on-floor trading.
The OTC trading platform represented by the OTCBTC currency exchange network is commonly known as over-the-counter trading.
The trading volume of these three, according to my judgment: on-floor trading > over-the-counter trading > intraday trading.
In addition to this, there is a subdivision of over-the-counter trading, which is secured transactions. In the QQ group WeChat group and even offline, as long as the two parties trust the guarantor, the exchange of the legal currency and the encrypted assets can be directly completed through the off-exchange transfer.
Because of the existence of guarantee intermediaries, the liquidity of buying and selling is not enough. Generally speaking, the price of off-market and intra-market is much higher than the premium in the market, ranging from 5-10% to 10-20%.
Originally, due to policy restrictions, most on-exchange exchanges did not support the purchase of legal currency, with currency transactions as the mainstream. However, with the fiery market, in order to facilitate new users, there are still a small number of on-exchange trading platforms that directly conduct legal currency transactions. Due to policy risks, the trading volume of such platforms is relatively small.
Some of the large-scale on-exchange trading platforms use the USDT or the open legal currency exchange zone to achieve the disguised entry of the French currency.
On the other hand, a large-volume over-the-counter trading platform like OTCBTC has also opened up the function of currency trading in the near future.
Therefore, if there is no major policy impact in the future, these trading platforms are likely to support both on- and off-site, leaving only the difference between centralization and decentralization.
3. Preparation before the transaction
Before the transaction, we have to go through three steps:
01. Select trading platform
There are three major trading channels described above. If there are hundreds of trading platforms, how can you choose the right trading platform?
Here the benevolent sees benevolence, the wise sees wisdom, I provide a few questions for everyone to judge:
Does this platform support legal currency deposits? If so, what is the exchange rate? How fast is the arrival rate?
What is the recharge experience of this platform? Which encryption assets are supported? Can you support my investment needs?
What is the trading experience of this platform? What are the right deals? What is the depth of the transaction? Will it be frequent and not smooth?
What is the cash withdrawal experience of this platform? What is the minimum withdrawal amount? How fast is the withdrawal rate? Do you want to withdraw cash?
What is the rate for this platform? What is the specific rate for recharging, withdrawing, and trading?
What is the customer service experience of this platform? How to feedback when encountering problems? What is the efficiency?
What are the terminal entries for this platform? Is the terminal easy to use?
02, registered account
This step is very well understood. It is the same as the registration of the traditional website. It is usually registered by email or mobile phone. You can register successfully by receiving the verification code.
However, with the popularity of the market, several head trading websites have taken measures to restrict registration for the transaction experience, so please register early.
03, real name certification
In order to meet the legal requirements of various countries, prevent the bad purpose of money laundering, and also for the security of user assets, all major trading platforms currently require real-name authentication, commonly known as KYC: Know your customer, to understand your customers.
In order to take care of the user experience, real-name authentication is generally hierarchical, and the certification materials submitted by different levels are different, and the corresponding recharge and withdrawal amount are different. This is the specific platform rules.
Most of the platform's advanced certifications require uploading ID cards with positive and negative ID cards. In this era of serious privacy breaches, in order to avoid damage to our interests, we recommend that you add a watermark text to the uploaded photos: This photo is for xxxx platform authentication only. Although the use may not be large, at least one layer of protection is added.
4, trading common problems
01. Is it illegal to invest in blockchain assets?
Blockchain assets are a new thing, and the attitudes of countries are different at present. Take the largest market value of blockchain assets, the most popular bitcoin, some countries recognize it as a currency, and some as securities, our country is currently defined as a virtual commodity. Since it is a commodity, buying and selling is naturally legal.
Last year's 9.4 policy did not allow domestic exchanges to open the exchange channel between RMB and blockchain assets, so the intranet trading platform has been closed. The current trading platform is mainly overseas, and most of them have no legal currency trading channels, which are basically compliant.
02. How much does it cost to invest in blockchain assets?
Since blockchain assets are stored in digital form, they can be cut indefinitely. Take Bitcoin as an example. Although it has a unit price of nearly 100,000 yuan, it can buy 0.1, 0.01 or even 0.0001, so how much money can be invested in blockchain, the threshold is very low.
03. Does the trading blockchain asset require an overseas account?
Although most of the trading platforms are outside the country, since the legal deposits can be converted through intermediates such as USDT, domestic accounts can still be used. As long as you are not a bad purpose such as money laundering, the problem is not big.
04. When does the blockchain asset trading platform open?
There is no concept of opening and closing in the world of blockchain investment, because this is a global investment market, which is a 7*24-hour non-stop transaction. Unless the platform is temporarily maintained, it can be traded at any time.