You don’t need any trading experience to use BitProfit but it’s important to know the basics of crypto trading before getting started.
Understanding the technical language used in crypto trading should help you master the trading platform fast. We have defined the basic crypto trading terms below to help you master the platform.
Cryptocurrencies – Digital currencies built on blockchain to take the role of fiat money. These digital currencies are best known as tradable assets. Examples of popular cryptos include Bitcoin, Ethereum, Ripple, Bitcoin Cash, and monero. There are thousands of tradable cryptos in the market today.
Blockchain – A technology through which digital assets are built. This technology allows smooth P2P transactions by eliminating intermediaries in transactions. Transactions on a blockchain system are recorded in an immutable public ledger.
Metaverse – The metaverse is a virtual reality world where cryptocurrencies known as NFTs are used for transactions. This concept is new in crypto and attracting a lot of attention. Metaverse-related cryptocurrencies have been trending for months. You can analyze and place bets on these cryptos through our trading tools.
Non-Fungible Tokens (NFTs) – A unique digital identifier that cannot be replicated, substituted, or divided and is used to certify authenticity and ownership. NFTs are recorded on blockchain technology and can be transferred to a new owner. These assets can be traded through crypto exchanges.