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1. Cryptocurrency Exchange
In the currency circle, cryptocurrency exchanges generally refer to centralized exchanges, such as Binance, Ouyi, etc. If you ask someone in the circle, Daxiang will recommend these three exchanges to you.
Currently we only recommend you to go to the two largest ones, Binance and Oyi.
2. Bitcoin
The concept of Bitcoin was first proposed by Satoshi Nakamoto in November 2008. It is a peer-to-peer electronic cash system that does not require the participation of central institutions such as governments, but is maintained by everyone. The total number of Bitcoins is constant at 21 million. Therefore, Bitcoin has the reputation of "digital gold".
3. Cryptocurrency
Similar to Bitcoin.
4. Stablecoins
Stablecoin is a cryptocurrency with stable value. Due to the huge price fluctuations in the cryptocurrency market, investors need an exchange
Stablecoins are born as a medium to connect the world of digital currency with the world of legal currency (legal currency is legal tender, such as RMB and USD).
The most popular stablecoin is USDT, which is a token based on the stable value of USD (USD) launched by Tether. 1 USDT = 1 USD. The biggest feature of USDT is that it is equivalent to the same amount of USD. USDT is designed as a replica of the legal currency on the digital network, making it a good value-preserving token in the volatile cryptocurrency market.
5. Fiat Currency
Fiat currency is legal tender, issued by the state and the government, and guaranteed only by government credit, such as the RMB, US dollar, etc.
6. Tokens
A token is a type of encrypted virtual currency. It consists of a symbol and serves as a representation. In the cryptocurrency world, BTC (Bitcoin) and ETH (Ethereum) are both recognized and leading tokens.
7. KYC
KYC refers to identity authentication. KYC is Know Your
Customer is the abbreviation of Know Your Customer. In the international Anti-Money Laundering Law, organizations are required to have a comprehensive understanding of their customers in order to predict and discover unreasonable and potential illegal behaviors in business practices.
8. C2C transactions
Transactions between users using fiat currency and cryptocurrency through exchanges are called C2C transactions.
9. Spot Trading
Spot trading is also called coin-to-coin trading. Buying other cryptocurrencies including Bitcoin through stablecoins (pegged to the US dollar and with a constant value) or selling cryptocurrencies for stablecoins is called coin-to-coin trading.
10. Contract Trading
Contract trading refers to two types of contract products: perpetual contracts and delivery contracts. Most people use perpetual contract trading, and perpetual contracts are divided into U-based contracts and Ratio-based contracts. Among them, most people trade U-based contracts the most.
In addition, it is not recommended for novices to touch contracts.
12. Cryptocurrency speculation
Cryptocurrency speculation has a similar meaning to stock speculation, referring to the act of repeatedly buying and selling crypto assets through trading platforms in order to obtain high returns.
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Which one do you prefer, Bitcoin or Ethereum?
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