#BinanceTurns8 Below are some basic knowledge about getting started with cryptocurrency: 1. Exchange: Divided into centralized exchanges and decentralized exchanges, centralized exchanges like Binance, Coinbase, and decentralized exchanges like Uniswap, Aave, etc. 2. Wallet: Divided into hot wallets and cold wallets, hot wallets like MetaMask, cold wallets like Ledger hardware wallets. 3. KYC Certification: Refers to the 'Know Your Customer' procedure, requiring the provision of identification, address, and other verifications to prevent money laundering activities. 4. Stablecoin: The most commonly used are USDT and USDC, with one stablecoin approximately equal to one dollar. 5. White Paper: The project's 'manual', detailing what the project is about, team background, etc. 6. DeFi (Decentralized Finance): The 'banking system' of the crypto world, providing services such as deposits, loans, and investments. 7. Liquidity Mining: A common way to earn in DeFi, providing liquidity to trading platforms, which will allocate transaction fees as rewards. It is recommended to choose a safe exchange after understanding these basic concepts.
#BinanceTurns8 Below are some basic knowledge for getting started with cryptocurrencies: 1. Exchange: Divided into centralized exchanges and decentralized exchanges, centralized exchanges such as Binance, Coinbase, and decentralized exchanges such as Uniswap, Aave, etc. 2. Wallet: Divided into hot wallets and cold wallets, hot wallets like MetaMask, cold wallets like Ledger hardware wallets. 3. KYC Certification: Known as “Know Your Customer” procedures, requiring the provision of ID, address, and other verifications to prevent money laundering activities. 4. Stablecoin: The most commonly used are USDT and USDC, a stablecoin is approximately equal to one dollar. 5. Whitepaper: The project's “manual”, detailing what the project is about, team background, etc. 6. DeFi (Decentralized Finance): The “banking system” of the crypto world, providing services such as deposits, loans, and investments. 7. Liquidity Mining: A common way to earn in DeFi, providing liquidity to trading platforms, which will allocate transaction fees as rewards. It is recommended to choose a safe exchange after understanding these basic concepts.