Here is the activity with an example and the questions and answers for Module 3:
Activity:
Example: Buy 0.1 BTC (Bitcoin) at $50,000.
1. Log in to Binance.
2. Select BTC/USDT (cryptocurrency pair).
3. Choose "Buy" and select "Market Order".
4. Set amount: 0.1 BTC.
5. Confirm the purchase.
Questions and answers:
1. What is a Market Order?
A market order is an instruction to buy or sell a cryptocurrency at the current price.
1. How does a Limit Order work?
A Limit Order allows you to set a specific price to buy or sell a cryptocurrency.
1. Why is it important to set a Stop-Loss Order?
A stop-loss limits losses by automatically selling the cryptocurrency when it reaches a specific price.
Glossary:
- Market Order: Buy/Sell at the current price.
- Limit Order: Buy/Sell at a specific price.
- Stop-Loss Order: Sell to limit losses.
- Cryptocurrency Pair: Cryptocurrency pair to trade (e.g. BTC/USDT).
- BTC (Bitcoin): Most popular cryptocurrency.
- USDT (Tether): Stable cryptocurrency (pegged to the US dollar).
I'm here to help you! Do you need more clarity on any concept?
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Do you already manage your $BTC $ETH $BNB ?
Now comes Module 4: Technical and Fundamental Analysis in Cryptocurrencies