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Crypto market volatility is often thought to be on a scale of its own, with Bitcoin (BTC) and other cryptocurrencies often going through head-spinning price rollercoasters. Over the past few years, the world's leading cryptocurrency Bitcoin has experienced crazy price swings. After beginning to recover from a disastrous November 2021 crash, Bitcoin plunged into a multi-month steep decline in March 2022, losing nearly two-thirds of its value between late March and early November.
Cryptocurrency trading, the buying and selling of digital assets such as Bitcoin (BTC) and Ethereum (ETH), has emerged as an exciting and potentially profitable venture. However, for beginners, understanding the basics is essential before diving into this dynamic market. This guide aims to provide you with the foundational knowledge you need to start trading cryptocurrencies.
Financial markets have specific trading hours during which assets are bought and sold. However, there’s more to trading than what happens during official hours. In both traditional and crypto markets, pre-markets offer a space for early trading activity, allowing investors to position themselves ahead of the regular market opening.
"Altcoin" is a combination of the words "alternative" and "currency". This term generally refers to all cryptocurrencies and tokens other than Bitcoin. Altcoins belong to different blockchains because of which they were specifically designed.
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DeFi is the alternative where transactions are transparent, secure and lightning-fast. As an alternative to traditional finance, DeFi is using blockchain technology and smart contracts to provide comprehensive financial services with greater security and transparency.
Market sentiment is the assessment of traders' attitudes and emotions regarding a particular asset or investment. Whereas technical and fundamental analysis take a structured approach to understanding behavior, sentiment analysis aims to gain insights into how individual sentiments are affecting market prices.
BEP-20 token standard plays an important role in creating and managing tokens within the Binance Smart Chain (BSC) ecosystem. Similar to Ethereum's ERC-20 standard, BEP-20 establishes a set of guidelines that tokens must adhere to, ensuring they can seamlessly interact with other applications, wallets, and smart contracts within the BSC network.
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NFT tokens are created using blockchain technology that cannot be easily edited, copied or duplicated. They can act as publicly verifiable proof of ownership in a decentralized database. NFTs are unique digital assets representing ownership of specific items, such as virtual concert tickets or rare art pieces.
Crypto staking is a way to earn passive income by participating in proof-of-stake consensus mechanisms. Different types of staking methods include independent, pooling and exchange options.
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Decentralized Exchange (DEX) is a peer-to-peer (P2P) marketplace that brings together cryptocurrency buyers and sellers. Decentralized platforms are non-custodial, meaning users are in control of their private keys when transacting on a DEX platform, unlike a centralized exchange (CEX).
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