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What are the common terms of trading used in the cryptocurrency industry?

avatarABISHA JNov 26, 2021 · 3 years ago1 answers

Could you provide a detailed explanation of the common terms used in cryptocurrency trading? I'm new to the industry and would like to understand the terminology.

What are the common terms of trading used in the cryptocurrency industry?
Cryptocurrency
Trading
Terms

1 answers

  • avatarNov 26, 2021 · 3 years ago
    Certainly! Here are some common terms you should know in the cryptocurrency trading industry: 1. Exchange: A platform where you can trade cryptocurrencies. 2. Wallet: A digital storage for your cryptocurrencies. 3. Altcoin: Any cryptocurrency other than Bitcoin. 4. Market Order: An order to buy or sell a cryptocurrency at the current market price. 5. Limit Order: An order to buy or sell a cryptocurrency at a specific price. 6. Stop Loss: An order to automatically sell a cryptocurrency if its price drops to a certain level. 7. HODL: A slang term for holding onto cryptocurrencies instead of selling them. I hope this helps! If you have any more questions, feel free to ask.

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