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Spot Trading 101: A Beginner’s Guide Entering the world of cryptocurrency can be exciting but overwhelming for beginners. Spot trading is the simplest form of trading crypto assets and a great starting point for newcomers. What Is Spot Trading? Spot trading involves buying or selling cryptocurrencies for immediate settlement. You’re trading assets “on the spot” at the current market price, unlike futures or options trading, which deal with contracts for future transactions. Key Features: • Immediate Ownership: You own the actual cryptocurrency after purchase. • Market Prices: Trades are executed at current market rates. • No Expiry Dates: Unlike derivatives, spot trades don’t have expiration dates. How to Get Started 1. Choose a Reputable Exchange: Select an exchange that supports spot trading and has strong security measures. 2. Create an Account: Sign up and complete any required verification processes. 3. Fund Your Account: Deposit fiat currency or other cryptocurrencies to begin trading. 4. Place Your Order: Use market or limit orders to buy or sell cryptocurrencies of your choice. Tips for Beginners • Start Small: Invest amounts you’re comfortable risking. • Research Assets: Understand the coins or tokens you plan to trade. • Monitor the Market: Keep an eye on price movements and news that could affect the market. Why Spot Trading? Spot trading is straightforward and less risky compared to other trading methods. It allows you to gain hands-on experience with the market dynamics and understand how cryptocurrency trading works without the complexities of leverage or margin requirements. #basics #tutorials #beginners
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Understanding Blockchain Technology: The Backbone of Cryptocurrencies Ever wondered how cryptocurrencies like Bitcoin maintain security and transparency without a central authority? The answer lies in blockchain technology—the innovative system powering the entire crypto ecosystem. What Is Blockchain? At its core, a blockchain is a decentralized digital ledger that records transactions across a network of computers. This ensures data integrity, as each block of transactions is linked to the previous one, making the chain tamper-proof. Key Features: • Decentralization: No single entity controls the network, reducing the risk of manipulation. • Security: Advanced cryptographic methods protect transaction data from unauthorized access. • Transparency: All network participants can view transactions, fostering trust and accountability. How Does It Work? When a transaction occurs, it’s grouped with others into a “block.” This block is then verified by network nodes through consensus mechanisms like Proof of Work or Proof of Stake. Once validated, the block is added to the chain, and the transaction becomes immutable. Why It Matters Blockchain eliminates the need for intermediaries, reducing costs and increasing efficiency. Beyond cryptocurrencies, it’s revolutionizing industries like supply chain, healthcare, and real estate by enhancing transparency and security. #basics #education
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Agree? $BTC
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Aave Protocol’s GHO Stablecoin Goes Live on Arbitrum After a vote by the Aave Decentralized Autonomous Organization (DAO), the GHO stablecoin has been deployed on the Arbitrum network, chosen for its low transaction costs and increased throughput. The Aave DAO plans to gradually launch GHO on multiple networks, prioritizing security and risk management by testing the stablecoin's performance on Arbitrum first. Chainlink's Cross-Chain Interoperability Protocol (CCIP) facilitates this multi-chain deployment, enabling the migration of GHO from Ethereum to other networks. When GHO is moved from Ethereum to another blockchain, tokens are locked in an ETH-based Vault Contract and minted on the target blockchain. Conversely, tokens are burned on alternative chains and released from the Vault Contract when bridging back to Ethereum.
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🤔 US Government Moves $240M Silk Road BTC to Coinbase Bitcoin's recent slight gain was short-lived as it returned to its downward trend, dropping 1.37% to $60,761. This decline followed the movement of 3,940 BTC, worth about $240 million, by a US government-associated wallet to Coinbase Prime, raising fears of a potential selloff. The BTC was seized from Banmeet Singh during his January 2024 trial related to the Silk Road case. The US government has a history of selling off Bitcoins seized from Silk Road, including a huge $3.6 billion worth in 2022, with plans to sell the remaining BTC in multiple lots throughout the year. The market impact of the latest potential selloff remains uncertain. The news comes just days after the Mt. Gox $9 billion in Bitcoin repayment plan and the German BTC sell-off. #bitcoin $BTC
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