Hello! Day 8 of my diary on Binance, and today I keep discovering things that seemed obvious to others, but not so much for me when I started. After learning about candles, I now want to understand the strange words I see around. Here goes my simple guide with real examples!
❗ Before predicting something like "Will it reach $1?", check at least 3 things:
- How many tokens are circulating: A coin like BTC with 21 million is different from BONK with 88 trillion (or billions, depending on your numerical system).
- What type of crypto it is: Is it a solid project or a meme token without backing?
- How and where to trade: Do you use Spot or Futures? Is there liquidity? What orders do you choose?
Glossary: from base concepts to more specific ones
1. Blockchain
The technology that records all transactions, like a public ledger that cannot be erased. Example: You use the Ethereum blockchain to send ETH to a friend.
2. Exchange
Platform to buy/sell cryptos. Example: I buy BTC on Binance or Coinbase.
3. Wallet
Where you store your cryptos. They can be internal (in the exchange) or external like MetaMask (decentralized). Example: I store my 0.06 USDT in BONK in a Trust Wallet.
4. Crypto
Any digital currency: BTC, ETH, DOGE, BONK, PEPE. Example: I have 0.1 BTC and 1000 BONK.
5. Spot
Market "spot" where you use real balance without leverage. Example: I buy 10 USDT of BONK at the current price.
6. Token
Crypto that depends on another blockchain, without its own network. Example: PEPE lives on Ethereum, BONK on Solana.
7. Altcoin
Any crypto that is not Bitcoin. Example: ETH, ADA, or SHIB are altcoins.
8. Gas Fee
Commission for moving cryptos, varies by network. Example: Sending ETH costs $5-$50 (if there is a lot of traffic), while on Solana it is $0.01.
9. Airdrop
Free tokens for promotion, sometimes with requirements. Example: I received 50 PEPE for holding ETH in an app.
10. Staking
Leave cryptos locked to earn rewards. Example: I stake 10 USDT in BNB and earn 0.1% monthly.
11. Volatility
Quick price changes. Example: BTC dropped 15% on July 7, 2025, due to regulatory news.
⚙️ Orders on Binance (Spot and Futures)
12. Limit
You choose the exact price. Example: I set a Limit to buy BONK at 0.00002000 if it drops.
13. Market
Buy/sell at the current price, quick but with possible extra cost. Example: I sell 5 USDT of DOGE now.
14. Stop Limit
Two prices: one activates (e.g., 0.00003000), another executes (e.g., 0.00002950). Example: I protect my BONK with this.
15. Stop Market
Executes at the current price after being activated. Example: I exit a position if BTC drops to $60,000.
16. Trailing Stop
The stop rises with the price. Example: If BONK rises to 0.00004000, my stop rises to secure profits.
17. OCO
Two orders: one Limit to go up, one Stop to go down. If one is fulfilled, the other cancels. Example: I sell BONK if it rises to 0.00003500 or drops to 0.00002500.
18. TWAP
Split large orders to avoid moving the market. Example: I sell 10,000 USDT in chunks of 1,000 USDT.
📊 Terms when buying/selling
19. Buy/Sell
Buy or sell, basic in pairs like BTC/USDT. Example: I buy ETH with USDT.
20. Est. Fee
Estimated commission, depends on the order and pair. Example: I pay 0.1% for selling BONK.
21. Max Buy/Sell
Maximum according to your balance. Example: I can buy 50 USDT of BTC with what I have.
22. Avbl
Free balance to use. Example: If I reserved 5 USDT in an order, my Avbl decreases.
23. HODL
Holding cryptos without selling. Example: I HODL my BTC for months.
💬 What differentiates BONK or PEPE from BTC or ETH?
BONK and PEPE are meme coins: they arise from jokes or community, are volatile, and have many tokens (e.g., 88 trillion in BONK). They can rise/fall quickly.
BTC and ETH have real purpose: Bitcoin is a store of value, Ethereum allows contracts. They have fewer tokens and more adoption. Example: If BONK rose to $0.01, its market cap would be $800 billion, but liquidity and demand would make it difficult.
📌 Conclusion of the day
Understanding these words gives me more confidence to not click blindly. I keep trying with my 0.06 USDT in BONK. With today's movements on July 8 at 2:30 PM, these definitions help me not to get lost. What did you notice in the market today?
🗨️ Question of the day
Did you come across any strange words on Binance that left you lost? Or do you want me to explain any term with an example from your favorite crypto? Tell me everything!
#CriptoDesdeCero #BinanceSquare #EducaciónFinanciera #DIA8 #Bonk