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What are the common terms of trading used in the cryptocurrency industry?
Anoop KizhiveettilMar 21, 2022 · 3 years ago1 answersCould 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.
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- 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.Mar 21, 2022 · 3 years ago
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