๐ Binance Dictionary for beginners | Part 1
If youโre just getting started on Binance, youโve probably already seen these words and thought: โWhat does this even mean?โ ๐
Today Iโll explain 5 basic terms:
๐น SPOT
Itโs the market where you buy and sell cryptocurrencies directly.
๐น MARKET ORDER
An order that executes at the price available at that moment.
๐น LIMIT ORDER
You choose the price you want to buy or sell at. The order will be executed if the market reaches that price.
๐น PNL
It stands for Profit and Loss, meaning profit or loss. It shows you how your position is doing.
๐น AVAILABLE BALANCE
This is the balance you have available to use in a trade.
You donโt need to memorize all of Binance. First, learn to understand what youโre seeing on your screen. ๐
๐ Which of these terms do you want me to explain with a real example in Part 2?
Leave it in the comments.
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