**WalletConnect** is a connection protocol. - **Connects wallets**: With web and mobile apps - **Supports**: MetaMask, Trust Wallet, Coinbase Wallet - **Blockchain**: Ethereum, Binance Smart Chain, Solana - **Works**: By scanning a QR code or clicking a link - **Purpose**: Facilitate secure transactions between wallets and apps. WalletConnect is used by millions of users to connect their wallets with cryptocurrency web apps like Uniswap and XRP Toolkit.
#SouthKoreaCryptoPolicy Corea del Sur es un gran mercado de criptomonedas, siendo el tercer mercado más grande a nivel global después de Estados Unidos y Japón ¹. \nEl gobierno coreano ha regulado la industria de criptomonedas para evitar el lavado de dinero y la especulación. \nLos intercambios de criptomonedas deben ser identificados y no pueden ser anónimos ¹. \nEl país ha estado a la vanguardia de la industria de criptomonedas desde el boom de los inversores de 2017 ¹. \nCorea del Sur busca liderar la cuarta revolución industrial impulsada por iniciativas de blockchain.
#CryptoCharts101 **Crypto Charts** are graphs that show prices. - **Trend Line**: Shows the direction of the price - **Candlestick**: Shows opening/closing price high/low - **Japanese Candles**: A type of candlestick with shadows - **Bars**: Shows opening/closing price high/low - **Technical Indicators**: - RSI (30-70) - Bollinger Bands - MACD Chart analysis helps predict cryptocurrency prices like BTC and XRP.
#TradingMistakes101 **Trading Mistakes** are common errors. - **Trading with emotions**: Fear or greed drive decisions - **Lack of planning**: Not having a clear strategy - **Overloading account**: Excessive risk in a trade - **Not cutting losses**: Allowing losses to grow - **Averaging down**: Adding to a losing position - **Not following stop loss**: Ignoring loss limits - **Trading without knowledge**: Not understanding the market or asset like XRP.
#CryptoFees101 **Crypto Fees** are costs for transactions. - **Transaction fee**: 0.1%-5% for sending/receiving - **Network fee**: 0.0001-0.01 BTC or ETH per transaction - **Exchange fee**: 0.1%-4% for buying/selling - **Withdrawal fee**: 1-5% for withdrawing funds - **Gas fee**: 0.00005-0.01 ETH per transaction on Ethereum Examples: Binance 0.1%, Coinbase 1.49%. XRP fees are almost free.
#CryptoSecurity101 **Crypto Security** are measures to protect digital assets. - **Encryption**: Encodes data for authorized access. - **Private keys**: Exclusive access to funds. - **Secure wallets**: Protected storage for keys. - **Two-factor authentication**: Additional verification for transactions. - **Security updates**: Protection against vulnerabilities. - **Cold storage**: Offline storage for funds. Crypto security protects against theft and hacking like what happened with Mt. Gox.
#TradingPairs101 **Trading Pairs** are combinations of assets for trading. - **Crypto/Crypto**: BTC/ETH, XRP/ETH - **Crypto/Fiat**: BTC/USD, XRP/EUR - **Fiat/Fiat**: USD/EUR, EUR/GBP Traders choose pairs according to their strategy and market. Popularity: 1. BTC/USD 2. ETH/USD 3. XRP/USD 4. BTC/ETH Each pair has its liquidity and volatility.
$BTC **BTC/ETH** is a popular cryptocurrency pair. - **BTC** is the base - **ETH** is the quote Example: 1 BTC = 13.56 ETH This pair shows the relationship between the largest cryptocurrency and the second largest. Traders buy BTC/ETH when they expect BTC to rise or ETH to fall. They sell when they expect the opposite. The BTC/ETH pair is very liquid and volatile.
#Liquidity101 Liquidity is the ability to buy or sell an asset quickly without affecting its price. - **High liquidity**: Easy buying/selling, stable price. - **Low liquidity**: Difficult buying/selling, volatile price. \nLiquidity in cryptocurrencies like XRP is crucial for traders. Examples of liquid assets: BTC, XRP, dollars. Examples of illiquid assets: thinly traded stocks, real estate.
#OrderTypes101 There are 7 types of orders: 1. **Market Order**: Buy/sell at the current price. 2. **Limit Order**: Buy/sell at a specific price. 3. **Stop Loss**: Sell to limit losses. 4. **Take Profit**: Sell to secure profits. 5. **Stop Limit**: Combines stop and limit. 6. **Trailing Stop**: Stop that adjusts with the price. 7. **Fill or Kill**: Execute the entire order or none. These types help traders manage their operations in cryptocurrencies like XRP.
#CEXvsDEX101 **CEX** (Centralized Exchange): - Controlled by a company - Stores user funds - Example: Binance, Coinbase **DEX** (Decentralized Exchange): - Controlled by open source \n- Users hold their own funds - Example: Uniswap, PancakeSwap CEX offers liquidity and speed, DEX offers security and autonomy. CEX requires verification, DEX does not. XRP is listed on both.
#TradingTypes101 There are 4 types of trading: 1. **Day Trading**: Buying and selling within a day. 2. **Swing Trading**: Positions lasting from a few days to a week. 3. **Position Trading**: Long-term investments, lasting months or years. 4. **Scalping**: Many short-term trades in a day. Each type has its own strategy and risk. Traders choose according to their profile and objectives. Day trading and scalping are for active traders, while swing and position trading are for patient ones. The key is to understand the market and manage risk. XRP is popular for day trading and scalping.