The moment you step into the crypto-world. It feels like as if everyone is talking in an alien language. If you feel lost, that’s okay buddy! We’ve all been there. But, you can learn the crypto-language too! It’s easy, but you’ll have to work for it, if you’re truly looking to succeed in the crypto-verse. Making money ain’t a piece of cake!
To communicate with the crypto-traders you’ll have to know the key terms by heart. It’s important to know the right meanings, if you’re just thinking to swing it by. Then we hate to break it to you, you’ll end up making a fool out of yourself. Don’t say we didn’t warn ya! Time remember these crypto-trading terms by heart.
What are you looking at the screen for? Grab a pen and paper, start making those notes.
If you don’t know what this is, then no one can help you. It’s a word that’ll inevitably pop up everywhere in the crypto-verse. The blockchain is a technology which has the made the existence of the digital currency possible. Its a form of a electronic ledger which is responsible for containing all the crypto-transactions happening. The chain keeps growing as the users make trades and mine new coins everyday.
But, now its more than crypto. Its uses are way beyond than what it was originally for. Banks, health industry, cannabis industry; you name it. It’s being used everywhere for its transparency and efficiency.
“Altcoin” are cryptocurrencies that are not Bitcoin. It’s because Bitcoin was the first ever crypto in the crypto-verse. Its the most popular from from the rest of the crypto for this very reason. It’s not like all the other cryptos don’t have value in the market. However, Bitcoin arrived first trading terms mostly revolve around it and refers to the things that are relative to it.
What on earth our tokens? Don’t get all worked up. It’s one of the simpler trading terms. We’ve left the difficult ones for another day. You see, some cryptos are pre-purchased before they are even publicly released. There are rather different reasons behind this, some people whole-heatedly believe in the technology behind a certain crypto. Whatever the case maybe. Purchasers can exchange the tokens for the actual coins once the currency is launched.
If you trade your crypto, you can make profit. That’s the entire incentive behind it. While, there has been a huge boom in the businesses accepting crypto. It’s always not a great idea to keep your crypto-profits dangling in a an extremely volatile environment. The crypto-market is unpredictable as hell and it can get really ugly sometimes.
It’s a good idea to stay safe. Where’s the fun in that if you’re wondering. Would it be fun if the value of your chosen crypto falls? You’ll be devastated, trust us! Fiat currencies are the best way to secure some of your profits. Just get your crypto exchanged for the currency you’ve been using all this time, US dollars, Pounds, Euro whatever.
The option to engage in a peer-to-peer coin trade is always available. However, mostly newbies enter the crypto-market through exchanges. That’s a place where people can trade and purchase their coins. It’s important to do your research before you make any trades. All markets have different types of coins and trades. It’s completely up to you to choose your coins, just be smart and pick a coin you understand.
Were these crypto-trading terms helpful? Let us know in below in the comments sections below. If you need any help with crypto-trading. We’re happy to help you. Always!