Abstract: This paper systematically reviews the primary methods for measuring the fundamental parameters of black holes —mass and spin, and briefly introduces techniques for determining the distances to black hole binary systems. Through case studies, it highlights the importance of precise distance measurements in refining the fundamental parameters of black holes. This paper explores three common approaches to black hole mass measurement: dynamical methods, spectral fitting, and quasi-periodic oscillations, while discussing their practical applications and inherent limitations based on observational results. In the aspect of spin measurement, the focus is on the research achievements of the Insight-HXMT (Insight Hard X-ray Modulation Telescope) satellite. The paper provides an in-depth analysis of two methods: thermal continuum fitting and reflection component fitting, emphasizing the crucial role of the Insight-HXMT satellite in spin research. It meticulously dissects the theoretical foundations and model assumptions of these two methods and presents their measurement processes through examples. Furthermore, we showcase the role and advantages of the Insight-HXMT satellite in spin measurement using these methods.