币圈小蝶：币圈市场什么是现货，什么是合约？

其实现货与合约是两个不同的交易机制，就好比炒股和炒期货，各有优劣。不同的交易机制就有不同的操作方法，大家可以理解为使用不同的工具为你获利。

Its realizations and contracts are two different trading mechanisms, like stock and futures, each of which has advantages. Different trading mechanisms have different ways of doing things, and you can be understood to benefit from different tools.

我们先来谈谈现货的优势

Let's talk about the advantages of the spot.

1.买了现货就等于是属于你的货，有多少钱买多少钱的货，就算价格大跌货还是属于自己的，后期行情涨回来就还是赚钱的；

1. The purchase of cash is equivalent to the purchase of goods belonging to you, the amount of money, even if the price falls and the goods are yours, and the money comes back later;

2.只要货的价值还在，大家都还认可它甚至有越来越多的人认可，虽然需要多久不确定，但后期还是可以期待的；

2. As long as the value of the goods remains, it is recognized that it is even being accepted by a growing number of people and that, although it will take some time to be certain, it can be expected at a later stage;

3.对于风险偏好较低的币友而言，现货对技术要求并不高，因为你看中的是它未来升值的潜力不用刻意关注价格波动（其实这一条说的很勉强，归零的币满大街都是，即便是现货风险依旧非常高）。

3. For lower risk-oriented monetary friends, spot demand is low, as you see its potential for future appreciation without any deliberate attention to price volatility (in fact, it says that zero coins are on the streets, even if the spot risk is still very high).

再来谈谈合约的优势

Let's talk about the advantages of the contract.

1.双向交易，有做多和做空两个方向，多一个方向就多一种选择，多一种选择就多一个盈利机会，就算闭着眼下单也都有50%的机会盈利；

1. Two-way transactions, with more and more empty directions, one more option, one more profit opportunity and 50 per cent chance of profit even when closed;

2.保证金制度，就是大家所说的杠杆，打个比方：一套房子100万首付只需要30%，你只要出30万就能暂时拥有房子的归属权，待到房价上涨到价值150万的时候转手卖掉，相当于你用30万赚了50万，如果你手上有300万用这种方式买10套房，就等于赚了500万，而如果首付需要100%资金的话，就需要1000万的本金才能赚到500万，高门槛就挡住了一般人发大财的机会。这就是大家熟悉的炒房客的做法，放在任何投资上也都是同样的道理，也说明了保证金制度的优势，它可以降低参与门槛，让更多的人都有机会以小博大；

2. The surety system, which is what you call leverage, requires only 30 per cent of the first payment of a house of one million, and you can temporarily have the right to own a house for a short period of three hundred thousand dollars until the price of the house rises to a value of one and a half million dollars, equivalent to half a million dollars, and if you have three million dollars to buy 10 units in this way, it will be five million dollars, and if 100 per cent of the initial payment is needed, it will take 10 million dollars to earn, and the high threshold will block the opportunity for ordinary people to make a fortune. This is the familiar practice of snuffers, which is the same rationale for any investment, and it also demonstrates the advantages of the surety system, which can lower the threshold of participation and give more people a chance to grow bigger;

3.套期保值，比方同样是10万元，如果全部买现货，价格是1万的话可以买10个，当市场价格下跌10%，就亏损1万元。而如果用5万元买5个现货，再用5000元保证金开10倍杠杆，买价值5万元的合约做空，当市场价格下跌10%，现货亏损5000元，合约赚5000元，刚好抵消不亏不赚，这就是套期保值；

3. The hedge, which is equal to $100,000, can buy 10 if the spot is bought in full and the price is $10,000 if the market price drops by 10 per cent. If the 5 spot is purchased, a 10-fold leverage of $5,000 is used to buy a contract worth $50,000, the market price falls by 10 per cent, the current loss is $5,000, the contract earns just to offset the non-loss, which is the hedging premium;

4.无视牛熊，不管是大涨的牛市还是大跌的熊市，对于合约来说无任何影响，只要行情上下波动有足够空间，就有盈利的机会；

4. Disregarding the fact that cattle bears, whether they are booming or falling, have no effect on contracts and have a profit opportunity as long as there is sufficient room for volatility;

5.暴富机会，因为杠杆带来了以小博大的属性，理论上来说可以用低成本博取几十上百倍的利润，在熊市之中已经不可能再有几十上百倍的币可以买，之前的乱象已经成为历史，只有合约市场才有这个机会，这也是为什么全球合约市场交易额如此庞大的原因。

5. The potential for bulwark wealth, because leverage brings with it small-scale properties, which theoretically allow for hundreds of times more profits to be made at low cost, and for which it is no longer possible to buy hundreds of more coins in a bear market, has become history, and only the contract market has this opportunity, which is why the volume of global contract market transactions is so large.

任何事物都有两面性。说完优势，我们来聊聊劣势，缺点同样需要重视。

There are two sides to everything. After speaking of advantages, let's talk about disadvantages. We also need to pay attention to shortcomings.

现货的缺点

Shortcomings in the off-the-shelf

1.一分钱一分货，杠杆率1：1，由于现货是个单边市场，对价格上涨的依赖度非常高，要么单边上涨赚钱，要么波段低买高卖赚价差，买不好同样被套，特别在熊市之下，一不小心又被狗庄设计了；

1. 1:1, because the spot is a unilateral market, the dependence on price increases is very high, with either a unilateral increase for money or a low-sale, low-sale, low-sale, same-sold, especially under the bear market, and unwittingly designed by dogs;

2.币种太多，五花八门的消息难以分辨，项目方编故事与白皮书的智商远远高于韭菜们那可怜的七秒钟记忆，熊市之下一旦上了贼船想下来就难了，小币种空气币最终归零的概率非常之大，如果觉得合约爆仓风险大，那么现货归零的币又有何区别，温水煮青蛙而已；

2. There are too many currencies, there is a lot of indistinguishable information, the project author's story and the white paper are far more intelligent than the poor seven-second memory of the cabbage, it is difficult to come down under the bear market once they are on board, the probability that the small currency will eventually be zero, and if the risk of a contract crash is felt to be great, what difference does it make between the current zero and the hot water boiling frogs?

3.时间成本与机会成本，想必18年和19年有很多朋友深有体会，手上跌了80%以上的币割肉又没太大意义，等待又遥遥无期，只能被动安慰自己只要币在就还有机会，就算不归零如果等上个3-5年才能回本，你炒币的初衷又是什么呢？假如高位被套，理论上只要后期价格涨回去就不会亏钱，可实际上计算一下时间成本、机会成本的话，代价也非常大，这一块内容太多就不展开讲了，书店有专门的书籍可以买来看下。

3. The cost of time and opportunity must be 18 and 19 years of experience for many friends, with more than 80 per cent of the money falling in their hands without much meaning, waiting and waiting, and remaining passively comforting themselves as long as the money has a chance, and even if it is not for the last three to five years, what was the original purpose of your writing? If the high price is set, there will be no loss if, in theory, the later price rises back, the cost of time and opportunity is actually calculated, and the cost is so great that there is too much to talk about, and the bookshop has a special book to look at.

再聊聊合约的缺点

Let's talk about the shortcomings of the contract.

1.对技术要求很高，方向判断错误造成保证金不够会被强平，保证金相当于是押金，当行情波动较大，押金不够亏的时候就会被强平出局，对技术分析、仓位管理、心态控制等方面有较大的要求；

1. The technical requirements are high, the error of direction results in an insufficient level of security, which is equivalent to a deposit, and when there is more volatility, the deposit is withdrawn, and there are greater demands on technical analysis, position management, mental control, etc.;

2.交易所恶意插针、大户恶意控盘等行为会对我们的资产形成威胁，当然有时是不利的，有时是有利的，这个也要看运气，整体来说还是存在风险的，话又说回来，做什么又没有风险呢？

2. What is the risk, if any, of an exchange's malicious infusion of needles, large-scale malware, etc. that threatens our assets, sometimes to the detriment of, and sometimes to the advantage of, luck and, in general, risk?

那么，对比完之后大家应该对现货和合约的区别有了一定的认识。如果大家还在玩小币种空气币，那么可以负责任的说风险比合约还大，币价随时有归零的风险。

So, you should have some idea of the difference between the spot and the contract. If you're still playing with a small currency for air currency, you can be responsible for saying that the risk is greater than the contract, and the price is always zero.

合约并不是魔鬼，只是一种工具。就好比一把菜刀，放在厨房中使用它就是一把厨具，拿出去干架就是一把凶器，如何正确使用它才是我们应该关注和思考的。技术分析、仓位管理、点位选择、止盈止损、心态控制等都是做合约非常重要的环节，这些都决定着我们能否用好这个工具、能否为我们带来暴利的收益。！

The contract is not a demon, it is a tool. It is a kitchen knife, it is a cooking tool, it is a murder weapon, and it is a murder weapon that we should be concerned about and think about. Technical analysis, position management, location selection, stop-over, and mind control are all very important parts of the contract.