What is the cryptocurrency world?
The cryptocurrency world refers to a circle formed spontaneously by cryptocurrency players. Although it is relatively small, it comprises a significant number of people and is regarded as a niche group in society. While only a small portion can profit from it, many money-making methods such as ICOs, trading, mining, exchanges, project parties, and self-media are quickly replicated and promoted.
What are the mainstream coins in the cryptocurrency world?
BTC (Bitcoin)
ETH (Ethereum)
XRP (Ripple)
BCH (Bitcoin Cash)
EOS (EOS)
LTC (Litecoin)
How to make money in the cryptocurrency world?
There are many ways to make money in the cryptocurrency world, the most common include:
Trading cryptocurrency: Buying and selling based on the volatility of the cryptocurrency market for short or long term.
ICO crowdfunding: Raising potential high returns by investing in the initial tokens of emerging projects.
Arbitrage: Buying at a low price and selling at a higher price on different exchanges to earn the price difference.
Contract trading: Amplifying returns through futures or leveraged trading, but with higher risk.
Which exchanges are best for operations?
Spot exchanges: Such as Huobi, OKEx, and Binance (these exchanges are well-known and secure in the industry).
Futures exchanges: Such as Huobi, OKEx, Bitmex, and Binance (these futures exchanges are also well-known and secure).
Where to get news in the cryptocurrency world?
Market information websites: Such as CoinGecko, CoinMarketCap, Alcoin, etc.
News websites: Such as 8btc, Baibute Community, CoinWorld News, etc.
What does 'fiat currency' mean in the cryptocurrency world?
Fiat currency refers to currency issued by a country or government that has legal tender status. The value of fiat currency is guaranteed by the government’s credit, commonly seen in currencies such as Renminbi, US Dollar, etc.
What does 'Token' mean in the cryptocurrency world?
Token is usually translated as 'certificate', which is an important asset in blockchain representing proof of rights, not just currency.
The three core elements of a Token:
Digital proof of rights: Tokens represent certain rights and exist in digital form.
Cryptographic nature: The authenticity, tamper-proofing, and privacy of tokens are ensured by cryptography.
Network circulation: Tokens can flow within the blockchain network and can be verified at any time.
What does it mean to build a position in the cryptocurrency world?
Building a position (or opening a position) refers to traders buying or selling a certain amount of cryptocurrency to start holding.
What does 'all-in' mean in the cryptocurrency world?
All-in refers to putting all funds into a particular project or trade at once, equivalent to 'going all in'.
What does airdrop mean in the cryptocurrency world?
Airdrop is a marketing method where project parties distribute tokens for free to users to promote their newly issued tokens, usually to attract investors' attention to the project.
What does locking mean in the cryptocurrency world?
Locking is when investors freeze a certain amount of tokens in a contract, usually to earn rewards or comply with the project's regulations. In trading, locking can also refer to pulling positions that are opposite to existing holdings to act as a hedge.
What does 'candy' mean in the cryptocurrency world?
Candy refers to tokens that cryptocurrency project parties distribute for free to users during ICO to promote the project and attract investors.
What does it mean when a coin breaks its issue price?
Breaking the issue price refers to when the market price of a cryptocurrency falls below its issue price. For example, the issue price during the ICO was high, but the market price has fallen below that price.
What does private placement mean in the cryptocurrency world?
Private placement refers to cryptocurrency project parties raising funds from specific investors in a non-public manner, usually conducted before the project officially launches.
How to read candlestick charts in the cryptocurrency world?
Candlestick charts are a commonly used technical analysis chart, showing the opening, highest, lowest, and closing prices for each period. By observing the shapes and trends of candlestick charts, investors can judge the market direction.
What does arbitrage mean in the cryptocurrency world?
Arbitrage refers to buying and selling cryptocurrency between different exchanges, purchasing at a lower price and then selling at a higher price on another exchange to earn the price difference.
What does ICO mean?
ICO (Initial Coin Offering) is a method for blockchain projects to raise funds by issuing their own tokens to the public. It is similar to an Initial Public Offering (IPO) in the stock market. Additionally, there are other fundraising methods such as IEO (Initial Exchange Offering) and STO (Security Token Offering).
Understanding the basic concepts of the cryptocurrency world can help you better enter this market and make informed investment decisions.
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