For most people, the crypto world is a completely new category, as its trading rules are entirely different from the stocks we commonly know.

For this reason, a special article on the trading rules of cryptocurrency exchanges is written.

When entering any unfamiliar circle, you must have a certain understanding first.

Trading Time

Crypto trading is open all year round, 24/7 trading, buying and selling at any time.

This point is much freer compared to stocks.

Minimum Trading Quantity

For stock trading, you must buy at least one share and it must be an integer.

In the crypto world, you can buy with as little as 1 dollar.

More suitable for small funds.

Deposit and Withdrawal

There is a C2C function in crypto exchanges, which is where funds are deposited and withdrawn.

Note: When withdrawing funds, adjust to the selected area, select trusted merchants, and choose merchants with long registration times and high transaction volumes to avoid some risks as much as possible.

Transaction Fee

In the crypto world, both buying and selling incur fees.

Spot Fee

For leading platforms like BN, the unilateral spot fee rate is 0.1%.

For example, purchasing $10,000 worth of Bitcoin incurs a fee of $10, and selling also requires $10, totaling $20 in fees.

Spot Fee Calculation Method: Purchase (Sell) Value × Fee Rate

Contract Fee

The fee rate for a single side is 0.02% (Limit Order) 0.05% (Market Order)

Using 100 in capital with 100x leverage, the fee required for opening a position is 2-5, and the fee for closing a position is 4-10.

You can see that fees are quite expensive, but there are ways to reduce trading fees.

Funding Fee

Only appears in perpetual contracts; the funding fee is to balance the price difference between contracts and spot prices, and also reflects the long-short ratio in the market. The default is usually 0.01%, settled three times a day at 0:00, 8:00, and 16:00. In extreme cases, the exchange may proactively adjust the settlement time and fee standards.

When the funding rate is positive.

For long positions, the funding rate is deducted based on the position value; for short positions, the funding rate is gained based on the position value.

Conversely, when the funding rate is negative, holding long positions earns money, while holding short positions incurs costs.

Funding Fee Calculation Method: Position Value × Funding Rate

Key Point:

1. The funding rate changes at any time.

2. Settlement will only occur if positions are held at the settlement time point

Deposit and Withdrawal Exchange Rate Difference

Each merchant's price may vary slightly, leading to discrepancies between actual payment and displayed amounts, which is caused by exchange rate differences and not C2C fees.

Limit on Price Fluctuation

Stocks have limits on price increases and decreases as well as circuit breaker mechanisms, which may have a maximum limit of 10% or 20%.

There are no limits to price fluctuations in the crypto world; extreme market conditions can see increases of 150% or decreases of 99%, which is also the risk of the crypto world.

A relatively famous event was LUNA in 2022, which dropped from 120 to 0.000000001 (on-chain price)

Price Variation of Single Currency

There are many different currencies in crypto exchanges, and the prices of different currencies vary greatly.

Bitcoin is the barometer of the crypto world, currently priced at $103,000. The once-popular Dogecoin is now priced at $0.17

With the same $10,000 capital, you can only purchase 0.097 Bitcoin, while Dogecoin can be purchased at nearly 59,000 units.

Different quantities of held currencies, but the value remains the same.

Currency Code

Bitcoin's full name is Bitcoin, abbreviated as BTC. Ethereum's full name is Ethereum, abbreviated as ETH. These are introduced on exchanges and major information platforms.

Currency Trading Pair

BTC/USDT BTC/USDC

These are different trading pairs in the crypto world; the front represents the currency name, and the back indicates the unit of purchase.

For example, BTC/USDT means you need to use USDT to purchase BTC.

Some exchanges have indicators like 5x 10x after the trading pair in spot trading, representing the maximum leverage that can be supported for the current trading pair in leveraged trading (not contract trading).

Crypto Trading Price Color

In the crypto world, the K-line colors for price increases and decreases are exactly the opposite of A-shares, green for increase and red for decrease.

If you're not used to it, you can also change it in the settings.






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