Crypto/Trading Terminologies Simplified

Good day dear Tron fan club members, I hope your weekend went well. Today I'll like to enlightened us about some crypto Terminologies for both beginners and experience traders. It will help in our trading journey, I hope you'll enjoy it...

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Bull market

This is a period when crypto prices rise drastically. We experienced this some few days ago, when Steem price went above $0.7. when we're in a bullish market state, crypto traders tend to sell their assets for return of profit of a particular cryptocurrency.

Bear market

This is a period when crypto prices fall drastically. This bearish market create a chance for traders to purchase more cryptocurrencies at a cheaper rate and wait until it rise again for more gains.

Order book

This is a section of any exchange that shows the "open/current orders" between buyers and sellers with prices and volume.

Bid And Ask Price

Bid Price is the price on a particular cryptocurrency which traders are trying to sell at. Which Ask price is the price which traders are trying to buy for.

Spread

This is the estimated price difference between the buy and sell price. This feature helps to identify how the price will impact the market orders been executed. Most exchanges doesn't provide this feature.

Buy order and Sell order

Buy orders also known as bid, is a term used when a trader wants to purchase a crypto at a preferred price. Sell orders, also know as Asks, is when a trader wants to sell a crypto at a preferred price.

High & low (24 hour trading cycle)

24 hour trading cycle is the time interval that shows how far a crypto rose or sunk within 24hr. For High, this is the estimated period that shows a particular cryptocurrency reaching it's peak. For low, this is the estimated period that shows how far a cryptocurrency has dipped.

Slippage

Slippage is the interval between the price at which a trade is expected to be executed at, and the price it was finally executed at.

Confirmation

This is a process when a transaction is being validated in a block. The minimum number of block for a transaction to be validated usithree. Public Blockchain makes use of this consensus to secure transaction.

Execution

This simply means the time at which a particular trade was Completed.

Cold storage

This is a type of crypto wallet where asset are stored offline. It's in form of a hardware and it can only be accessed when it's inserted into a computer. The wallet is totally offline which makes it secured from cyber attacks.

Conclusion
With the little I've explained above, I hope you all learned something that would be useful in your upcoming trade. Thanks for reading...

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