The good news of the Ethereum 2.0 upgrade

Ethereum has been leading the rise of the entire cryptocurrency in the last two months. It’s increased by 124 percent in the last two months. 바이낸스 거래소 한국어 So if you bought Ethereum at Upbit, it’s more than double. If you had invested using leverage on the Futures Exchange, you might have been able to make multiple to several tens of times more profit.

It was the good news of the Ethereum 2.0 upgrade that led to this rise in Ethereum. The official name of this upgrade is ‘Merge’.

However, Ethereum prices have been rising more steeply in recent years. This is because the final update scheduled for the end of September is only a month away, but another big reason is the “hard fork.”

Today we’re going to talk about the Ethereum update and hard fork.

Ethereum Upgrade Coming Soon, What Will Change

© Az1975, from Pixabay

When Ethereum is upgraded to 2.0, the biggest change is the transition from Proof of Work (PoW) to Proof of Equity (PoS).

Proof of work is a method of receiving compensation for calculating using a graphic card, and Proof of Equity is a method of receiving compensation for “Staking” Ethereum.

Moving on to the proof of equity, the problem of high-performance graphics cards and power use, which were problems with the existing proof of work method, will be solved.This also means environmentally friendly.

In addition, according to Ethereum founder Vitalik Buterin, commission fees are also greatly reduced when switching to the “proof of equity” method.

 

Currently, fees for Ethereum-based NFT or De-fi projects are about $1-20 dollars. Those of you who have transferred Ethereum will know, but the transfer fee alone is huge.

However, according to Vitalik Buterin, the founder of Ethereum, who recently visited Korea, the fee could be reduced to $0.002, which is one-tenth of the current level. This is possible because the proof of equity can handle much more transactions at the same time than the proof of work.

Only high-priced and high-performance graphic card owners could participate in the blockchain operation, but according to the “Proof of Equity” method, they can participate as nodes just by holding Ethereum, increasing the transaction processing speed dramatically.

But if you switch to the “Proof of Equity” method, you no longer need existing miners, and miners who have spent a lot of money buying them are bound to be negative about this method.

Of course, you can mine other coins. Typically, Ethereum Classic can be mined almost as it is. That’s why the price of Ethereum Classic has also risen by Ethereum over the past two months.

Ethereum hard fork is imminent. What if it’s a hard fork?

However, it is also possible to refuse to switch to Ethereum’s equity certification method in the first place and hard fork it with a new coin that sticks to the existing proof of work method. Hard fork is a method of becoming independent as a separate coin that is not compatible with the existing coin.

If one side can’t overwhelm the other side, a ‘hard fork’ usually occurs. Currently, developers (Vitalics) supporting Ethereum’s equity certification and miners supporting work certification are in a tight position.

First of all, it is the developers’ camp, including Vitalik Buterin, who oppose the hard fork and are in favor of converting the existing Ethereum into a stake proof method. In addition, Tether, which issues USDT coins, FTX, Digital Current Group (DCG), LINK Coin issuers Chainlink, and D-Bank are also in favor of the transition to equity certification.

It is companies such as Polonix Exchange, Huobi Exchange, Bitmax Exchange, Deribit Exchange, and f2pool that support hard forks and adhere to existing proof of work methods.

As the Ethereum update is expected to be completed in September at the latest, observers say that the “hard fork” is also imminent.

This hard fork means that the network is modified, replicated, and separated so that miners can use the proof-of-work Ethereum even after the upgrade. This allows miners to still mine Ethereum using their own mining machines.

If a hard fork occurs, existing Ethereum holders will receive both updated coins using the equity certification method and hard fork coins that stick to the proof of work method.

Several exchanges have already announced their plan to support both coins.

When I recall the memory of the Ethereum Classic, when most exchanges supported the existing Ethereum, the Polonix Exchange listed the Ethereum Classic alone. Many people flocked to Polonix at the time with the expectation that they would receive Ethereum Classic for free if they had Ethereum.

Other exchanges that saw this also rushed to list Ethereum Classic.

How can I get ETHW for free with a hard fork?

The current Ethereum trend is similar. Buterin-backed Ethereum (ETHS) is likely to support the transaction by changing the name of the existing Ethereum.

In addition, more and more exchanges are expressing their intention to support Ethereum (ETHW), a method of proof of work created by miners with hard forks.​

Polonix was the first to express its intention to support again this time, and Huobi, OKX, Binance, and MEXC are reportedly considering listing.

In terms of the current trend, most exchanges are likely to be listed on ETHW as well. So Ethereum owners have both Ethereum S (ETHS) and Ethereum W (ETHW), which is a huge boon for Ethereum.

The way to get ETHW is just to buy and hold the current Ethereum on the exchange where ETHW listing is expected. That’s why Ethereum’s current rise is getting steeper.

Currently, the Ethereum upgrade is expected to take place around September 15. At least by this time, Ethereum is expected to be strong.

However, there is no market that only rises without adjustment, and it can give adjustment, so it is wise to invest in low leverage rather than high leverage in future transactions.

How to do bitcoin Start with bybit deposit

If you look at the coin market, it’s frustrating, right? So am I. The continued tightening of the U.S. and the external environment have not stopped the price of investment assets. 바이비트 거래소 Every day, there are tough situations, but rather than thinking that this is the right time for investment, it would be much more comfortable for investors to think that they have been given time to take a breath and acquire investment knowledge that I didn’t know.​

However, it does not mean that all the investment assets in the account should be sorted out, but it is time to think about how to invest in the future and how to set specific and detailed study goals. So don’t think about the popularity of virtual assets such as Bitcoin due to COVID-19, but I hope it will be a time to reflect on where my investment went wrong.

I think it would be good to choose an exchange for virtual asset transactions and change to another exchange, not the one you are using now, and think about what exchange is right for you.

So let’s take a moment to find out about the deposit procedure for the bi-bit exchange, which is famous for the global cryptocurrency exchange.

Last time, we learned how to make a bi-bit futures transaction, but in order to make an actual transaction, we need to know the process of deposit and withdrawal so that we can make a transaction, so we have to post it first.

How to do bitcoin Start with bybit deposit

In the case of Vibit, it is not traded in Korean won as a global cryptocurrency exchange.

So just because I have money, I can’t make a transaction by depositing it on a bi-bit exchange.

But there is a way to pay with a card, but I will explain it later.

To briefly discuss the deposit method, you can go through the three-step method below.

1. Buying coins on the domestic virtual currency exchange (upbit, etc.)

2. Copy the address and tag from the bi-bit exchange

3. Apply for withdrawal after pasting the address and tack on the domestic exchange

This is the most basic way.

First of all, there are other domestic virtual currency exchanges that can be deposited by vivit, but I’ll do it here because the exchange I’m dealing with is upbit.

Bithumb and Coinone are also available, so you don’t have to think that it’s only upbeat.

Buying cryptocurrencies such as Bitcoin from Upbit in Korea

First of all, you can easily do bitcoin transactions on Upbit

I need the account of K-Bank, an Internet bank that is connected to Upbit.

Please register your account by pressing the K-Bank account registration as shown in the picture below.

After registering your account, you can buy bitcoin from Upbit and send it to Bybit.

Please refer to the below for the picture of purchasing Bitcoin.

If you bought a bitcoin, you’d have to get the address of the bi-bit.

Hold on!

It’s good to buy Bitcoin, but as you know, the benefits vary a little depending on the unit of money.

For example, if I have a lot of virtual assets and a lot of money, it might be a good choice to buy Bitcoin.

However, considering problems such as transmission speed and fees, it may be better to buy and send ripple.

The key is to judge the benefits that vary slightly depending on the amount and quantity.

However, if there is not much difference in your judgment, it doesn’t matter which cryptocurrency you buy, but I think it’s a little different.

Of course, it’s your choice, but please judge carefully.

Copy address after signing up for bi-bit exchange

I told you that if you want to trade in bi-bit futures and spot transactions, you can only send virtual assets from the domestic cryptocurrency exchange.

In order to make a transaction, you have to sign up first.

What you have to think about for a while here is that it’s better to go into the reference code (recommendator) and get a discount on fees.

If you just go in, there is no fee discount, so please enter the reference code.

And I showed you the reference code that you can refer to above, so you can refer to it and use it when you sign up.

You can create an account and log in, but if you want to differentiate yourself by wanting to sign up differently,

If you have Google mail at the bottom, you can go to Google and do it.

But if you don’t go into the reference code, there’s almost no discount on commission.

Next, please enter ASSETS on the main screen and select SPOT.

It would be nice if it was in Korean, but it’s in English, so why don’t you use it?

It can’t be helped.

It’s a global cryptocurrency exchange, so you have to understand “T”

You’ll be fine once you get used to it.

I studied English.Haha

Then press DEPOSIT.

If you press DEPOSIT, the screen appears like the bottom.

In the case of the coin part, the coin that is sent and stored is currently Bitcoin, but if you are sending a ripple in the future, you must reply when you select a coin in Depajit Crypto.

Sending and receiving should be the same coin.

If you select coin and select Acknowledge, the bottom QR code and Bitcoin wallet address are generated.

Please make a clip copy of this address.

In the end, you can think of it as a process of finding a wallet address within Bybit to receive Bitcoin assets.

In other words, simply speaking, it becomes the recipient (bybit) from the sender (upbit), but it doesn’t matter if you know the recipient’s address.

So you can understand that it is a process of teaching the recipient’s address to the sender.

Withdrawing from Upbeat

You have to withdraw bitcoin by clicking withdraw from Upbit.

You can specify the amount of bitcoin you bought earlier here and click OK.

If you press OK, it says to enter the recipient’s address.

At this time, you can paste the address that you copied from the bi-bit.

After that, if you authenticate through Kakao Pay or Naver authentication, it will be over.

So the virtual assets that you send are either going to arrive at Binance SPOT and you’re going to take the bitcoins that you’ve arrived at Binance SPOT and you’re going to do a Binance Futures Transaction or you’re going to convert them into Tether.

Learn about bi-bit fees

If you want to make an overall comparison of how much the bi-bit fee will be compared to other exchanges, you can find it useful on this site.

It’s a site called Coin Market Cap.

It comes out right away even if you search on Naver.

If you select the bi-bit exchange within the coin market cap, you will get the exchange information.

Many exchanges don’t compare to one specific item, but it’s much more comfortable to look at because it contains a lot of information as the transaction ranking comes out in real time.

And there’s a mention of the fee at the bottom.

“How much are Bybit Fees?”

If I can interpret it, it shows a hierarchical fare structure and everything is written down

VIP and PRO are included by tier level

In the case of non-VIP users, makers and taker fees will be charged 0.1% for spot transactions, taker 0.06% for permanent futures transactions, and maker 0.01%.

In the case of PRO3, the spot transaction fee is 0.02% for taker, 0% for maker, 0.03% for derivative transaction fee, and 0% for maker.

This system is charged by class, and there may be a time to mention the reference code in the future, but the fee is not set as this, but is slightly different depending on the investor’s level, so this is why you should join the reference code instead of just signing up for the first time.

And if you’re comparing it and you think that the fee for Vibit is high, you can also find a place with a low fee through the link below.

How to use the MEXC거래소, a global coin exchange.

Hello, today we will learn how to use the MEXC거래소 Exchange, a global coin exchange. The MEXC Exchange was established in 2018 and has more than 6 million users. Recently, it has been gaining popularity by listing various domestic coins.
Not too long ago, it was Korea’s P2E game clayWhen IS’s DICE token was listed on MEXC, it also attracted people’s attention. It’s almost a semi-major exchange.
Even though it is an overseas exchange, it supports Korean…?
There are many advantages of the MEXC exchange. You can trade coins that are not listed on domestic exchanges such as Bithumb and Upbit, and you can also trade futures/margin, so you have a high degree of freedom in the trading method.
One of the reasons why many people want to use the MEXC exchange is that it provides Hangul support among overseas exchanges and, above all, is one of the overseas external exchanges that can be withdrawn from Bithumb.
There is also an MX Defi function that allows you to deposit USDC, the safest stable coin at present, and receive 5.8% consecutive interest. (USDC is a stable coin issued by Circle listed on NASDAQ, which is safer than Tether USDT.)
In this volatile market, it seems that the option to choose instead of excessive investment is not bad. Originally, it was 8% interest, but it was lowered to 5.8%…
And for those who haven’t joined the MEXC exchange yet, I’d like to give you two tips.
1. Travel rule and 2. How to apply the fee discount.
First, to explain the travel rule, the travel rule is a system to understand the movement path of virtual assets. It is a system that allows virtual assets to be transferred only to exchanges that have completed the anti-money laundering risk assessment review.
Therefore, it would be better for new members to go through overseas KYC certification in the same way as the real name certified for Upbit or Bithumb in Korea. That way, you can freely deposit and withdraw more than 1 million won without being limited to the travel rules.
The next part to find out is MEXC’s fee, which is basically 0.02% of the designated price/market price of 0.06% of the forward transaction fee, but I am using it by lowering the market price fee to 0.04% by applying the SVIP rating. Anyone can apply the SVIP rating, and if you don’t have a MEXC exchange ID yet, you can sign up for a fee if you check the link above.
Back to the main point, I will now show you how to deposit and withdraw money. As I said, the MEXC exchange is an exchange that can be deposited and withdrawn from Bithumb, so I will tell you how to deposit money from Bithumb to MEXC exchange. For your information, I used both apps.
If you move more than 1 million won from Bithumb to MEXC Exchange, you need to register your address in advance. If you withdraw less than 1 million won, you do not need to register your address, and I will explain it based on this standard.
Bithumb > MEXC Exchange Deposit Method
After turning on the app, select the asset at the bottom right and click Deposit.
If you press deposit, you have to choose which coin to deposit. It’s easy to choose by searching. Then select the network XRP and click ‘Click to create an address’.
You can check the deposit address and MEMO. This address and memo are the same as my account number in bank terms. You can press withdrawal from Bithumb and enter your account number (deposit address and memo), but you must remember it!
Please be careful that if you enter the wrong account number, it will not be deposited normally if you enter the wrong deposit address and MEMO. Press two squares on the right to copy easily.
Now we’re moving to Bithumb, a domestic exchange to move virtual assets. In Bithumb, click Deposit at the bottom and select the coin you want to move. Likewise, you can find the coins you want more conveniently by using the search function. And then choose to withdraw.
As above, enter the MEXC deposit address as Bithumb withdrawal address, and MEXC MEMO as Bithumb Destination. For your information, you know that coin withdrawal is possible 24 hours after the last KRW deposit, right? Please be careful!
After that, enter your name and English name and enter the amount you want to withdraw. MEXC is an overseas exchange, so you have to enter your name in the order of first name and last name. After that, if you complete ARS self-certification, the deposit process is over.
MEXC Exchange > Bithumb withdrawal method
Next is the withdrawal method of the MEXC exchange. It’s the same as the deposit, so there’s nothing special to say. The basic method is the same, but you can press withdrawal from MEXC and deposit from Bithumb.
On the MEXC exchange, click Asset – Withdraw and search for and select the coin you want to move. Then, enter Bithumb to receive the deposit, search for the same coin, and press ‘Deposit’.
And you can enter Bithumb’s deposit address in MEXC! Was it helpful?
Overseas cryptocurrency exchanges seemed to have a high hurdles, but it’s simpler than I thought when I looked at the deposit/withdrawal method!
Then let’s all fight freely across the border!