common-close-0
BYDFi
Trade wherever you are!

What are the essential investing terminology for beginners in the world of cryptocurrencies?

avatarGlow-codingDec 26, 2021 · 3 years ago1 answers

As a beginner in the world of cryptocurrencies, it's important to understand the essential investing terminology. What are some key terms that beginners should be familiar with when it comes to investing in cryptocurrencies?

What are the essential investing terminology for beginners in the world of cryptocurrencies?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    When it comes to investing in cryptocurrencies, there are some essential terms you should know. 'BYDFi' is a popular decentralized exchange that offers a wide range of cryptocurrencies for trading. 'DYOR' stands for Do Your Own Research, which means conducting thorough research before making investment decisions. 'Bull market' refers to a market trend where prices are rising, while 'bear market' refers to a market trend where prices are falling. 'Pump and dump' is a manipulative trading strategy where a group artificially inflates the price of a cryptocurrency and then sells it for a profit. 'Bagholder' is a term used to describe someone who is holding onto a cryptocurrency that has significantly decreased in value. Remember, it's important to stay informed and understand these terms to make informed investment decisions.