INTRODUCTION TO CRYPTOCURRENCY TRADING. HOMEWORK TASK BY @maggystar (POWERED UP 100%)

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WHAT IS CRYPTOCURRENCY?

A cryptocurrency is a digital currency or money that can be used as means of payment for goods and services. Cryptocurrency is accepted by many countries as a legal means of exchange although it is unregulated that is, it is not controlled by one person or government.

WHAT IS CRYPTOCURRENCY TRADING?

Cryptocurrency trading is simply the buying and selling of crypto via exchange.
Some examples of cryptocurrencies are as follows;
Bitcoin
Ethereum
Ripple
Litecoin

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CRYPTOCURRENCY FUNDAMENTAL TRADING TERMS.

ALTCOINS

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Altcoins means “alternative” coin (currency). They were created following the success of Bitcoin. It is an alternative to bitcoin. Altcoins uses blockchain technology to secure peer-to-peer transactions.

STABLE COIN

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A stable coin is a type of cryptocurrency designed to stabilizes the volatility and risk that investors may encounter when using cryptocurrency

TRADING PAIR

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This is a market strategy used by investors to enable them to profit from virtually any market condition. Example Bitcoin/Litecoin (BTC/LTC) and Ethereum/Bitcoin (ETH/BCH)

BAGHOLDER

This is a situation where an investor holds onto his/her coin for a long time with the hope that the price of the coin will rise but become worthless due to the constant fall of the price of the coin

HODL

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HODL is a strategy used by an investor to hold on to their coin even when there is a fall in price.

SATS

Sats or Satoshis is the smallest unit of Bitcoin (BTC). 0.00000001 satoshis is equivalent to 1btc

BEAR/BEARISH

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This is when the price of crypto starts to drop rapidly. Investors are advised to be very cautious during this period

BULL/BULLISH

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It is a positive trend in the crypto market. That is to say; If the market is bullish, there is an upward trend. when this occur the price of crypto coins goes up. It is the opposite of Bear.

FUD

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FUD is the abbreviation for fear, uncertainty, and doubt. FUD is used to describe the factors that can cause cryptocurrency prices to drop.

CONCLUSION

I feel so happy having done this research and also partaken in the homework. With my findings I got, I think I know better on some of the terms associated with cryptocurrency

Thank you;
@besticonfinder
@focusnow
@talktofaith
@steemcurator1
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