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ShweYee223
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#CryptoSecurity101 Protecting your cryptocurrency is crucial in the digital age. Start by using strong, unique passwords and enabling two-factor authentication (2FA) on all accounts. Store private keys and seed phrases offline, ideally in a hardware wallet, and never share them. Regularly update your wallet and security software to patch vulnerabilities. Be cautious of phishing scamsโverify website URLs and avoid suspicious links. Use reputable exchanges like Binance, and consider cold storage for long-term holdings. Back up your data securely and monitor transactions for unauthorized activity. Stay informed through trusted sources like Binance Academy to enhance your crypto security knowledge. Stay vigilant, stay safe
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#TrumpVsMusk The crypto market took a sharp dive today. Major assets like Bitcoin ($BTC), Ethereum ($ETH), and Solana ($SOL) all posted significant losses. Bitcoin is down 3.1%, trading near $101,701, rattling investor sentiment across the board.
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#CEXvsDEX101 Confused between CEX and DEX when it comes to crypto trading? Letโs simplify it! ๐น CEX (Centralized Exchange) โ Platforms like Binance, Coinbase, and Kraken fall under this. These are run by companies that act as intermediaries. You create an account, deposit funds, and they handle the rest. CEXs offer better liquidity, user-friendly interfaces, faster transactions, and strong customer support. However, your funds are stored on the platform, so thereโs some risk if the exchange gets hacked or shuts down. ๐ธ DEX (Decentralized Exchange) โ Think Uniswap, PancakeSwap, or dYdX. These operate without a central authority, allowing peer-to-peer trading through smart contracts. You stay in full control of your crypto. Itโs more private and secure, but might be harder for beginners and usually has lower liquidity.
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#TradingTypes101 ๐น Spot Trading Buy and sell using only your available funds. โ No leverage โ No expiry โ Great for long-term investing ๐ Best for beginners ๐น Margin Trading Trade using borrowed funds to increase your position size. โ ๏ธ High reward potential, but also higher risk ๐ก Requires knowledge of risk management ๐น Futures Trading Trade contracts that predict an assetโs future price. ๐ Fixed expiry (or perpetual) ๐ Ideal for advanced strategies (long/short)
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#OrderTypes101 ๐ Basic Order Types 1. Market Order > "Buy/Sell now at the best available price" ๐น Fastest execution ๐น Great for high-liquidity pairs
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