DELVE INTO THE CRYPTO
Launched in 2008, Bitcoin (or BTC) is the world’s first-born digital currency and is credited for paving the way for the crypto (r)evolution. Today, Bitcoin is the most popular of the cryptocurrencies and is widely used to buy products and services in the same way traditional currencies (fiats) are. By design, Bitcoin’s supply limit is 21 million, meaning the currency cannot be devalued in the same way a conventional currency can. Bitcoin has asserted its dominance over other cryptocurrencies, which consequently are collectively named altcoins (ie, bitcoin alternatives). BTCUSD is the most popular crypto-to-fiat pair.
Launched in 2011, Litecoin (LTC) is one of the first bitcoin forks or altcoins. From a technical standpoint, there was almost no difference between LTC and BTC. However, LTC was upgraded and is now much faster than BTC, requiring only a quarter of the time BTC needs to process a block. The price of this peer-to-peer cryptocurrency is highly correlated with BTC’s price. Litecoin is among the top ten cryptocurrencies by market capitalisation.
Almost everything! The crypto market is very volatile, as there are many factors that can affect the relative value of BTC, ETH, XRP or LTC to USD (lots of acronyms, huh?!). So, you should always speculate what the next ‘trigger’ will be for the movement of your trading crypto-to-fiat pair.
Remember: when you trade cryptocurrencies, you do not actually invest in or buy them.
Cryptocurrencies are subject to cycles of high public interest,
and when demand for a crypto is high, its price dramatically
Cryptocurrencies are subject to cycles of high public interest, and when demand for a crypto is high, its price dramatically increases.
When conventional currencies face a crisis, cryptocurrenciess come to the fore as they are decentralised – especially bitcoin. When investors lose their interest in a fiat currency, they resort to bitcoin or its rivals, pushing up the price.
Government bans, and even regulation or taxation discussions over cryptocurrencies, decreases their value.
Cryptocurrencies’ prices are sensitive to both good and bad
news. This is mainly due to the fact that they are not regulated.
Cryptocurrencies’ prices are sensitive to both good and bad news. This is mainly due to the fact that they are not regulated.
The digital and unregulated nature of cryptocurrencies
makes them vulnerable to hackers.
The digital and unregulated nature of cryptocurrencies makes them vulnerable to hackers.
An investor’s portfolio of tokens. A bagholder is an investor who holds (or ‘hodls’ – if you know, you know!) their tokens until they are worthless.
A reward for a specific contribution (e.g., finding and reporting a bug that could cause security issues).
The blockchain unit (file) storing data, such as transactions, to be added to a blockchain.
The technology that enables the development of cryptocurrencies and supports transactions.
A (web)site where you can buy and sell cryptos.
Fear of missing out.
A change to the blockchain protocol, creating another version with an alternative chain.
Fear, uncertainty, and doubt: spreading fake news to gain an advantage. A fudster is someone who spreads the fake news.
Buy and hold for a long time.
What you’ll buy when you get rich! In trading, ‘when Lambo’ refers to when you’ll make the money to buy a Lamborghini (ie, achieve crypto success!).
‘To the moon’ is used to describe when a rise in price(s) is off the charts.
To sell (and the opposite of hodl).
A meta-protocol creating a new blockchain, taking the existing chain it’s created from into account.
If you haven’t got one, then just set your limit on how much you’re willing to invest (and risk). Know how much you can afford to lose.
Learn from each trade, what worked and what didn’t. Always listen to what your book, the experts and the market is telling you, never your heart.
Our video tutorials will help you get to grips
with the fundamentals of both MetaTrader 4 & 5.
Open an account today and show your money
what you’re made of.