Digital currencies come in various categories, such as currency types (like BTC), platform types (like ETH), application types (like SC), stablecoins (like USDT), and dividend types (like repurchased BNB), reflecting the diversity of digital currencies. For newcomers to the crypto world, the key is to distinguish between valuable coins and worthless coins; valuable coins are suitable for long-term holding, while worthless coins should be avoided even if they experience significant price increases! So, what basic knowledge should one grasp when trading cryptocurrencies? Many newcomers who have just come into contact with digital currencies and blockchain are most confused not by which coins to choose, but by not understanding the technical terms. For those who truly want to enter the space, what essential knowledge do they need to understand on the path to wealth?
This article organizes relevant technical terms for your reference:
1. Basic Knowledge of Trading Cryptocurrencies: Characteristics of Virtual Currency Trading#
- Trading Time: Open year-round, 24 hours a day, 7 days a week.
- No Price Limits: Unlike stocks, there are no price limits in virtual currency trading; for example, on May 28, Bitcoin's daily increase exceeded 20%.
- Trading Units: The minimum purchase is 0.0001 BTC (approximately 0.6 RMB), with no restriction on the minimum number of shares like in stocks (100 shares).
- Anytime Trading: Adopts a T+0 mechanism, allowing purchases to be sold on the same day; whereas stocks are T+1, requiring the next day to sell.
- Withdrawal and Cashing Out: Can be operated at any time, with extremely high liquidity.
There are many unreliable exchanges in the market, and newcomers often lack the experience to judge whether they will run away, so it is recommended to register on platforms with a long history and good reputation —
The latest ranking of the top 10 virtual currency trading platforms in China for 2025 is out 🔥【Worth saving】
2. Basic Knowledge of Trading Cryptocurrencies: Common Knowledge for Beginners#
- Bitcoin (BTC) and Ethereum (ETH) are hard currencies in the blockchain field. If newcomers are unsure which digital asset to purchase, it is recommended to prioritize BTC and ETH.
- Digital currencies come in various categories, including currency types (like BTC), platform types (like ETH), application types (like SC), stablecoins (like USDT), and dividend types (like repurchased BNB). Newcomers should focus on distinguishing between valuable coins and worthless coins; valuable coins can be held long-term, while worthless coins should be avoided even if they surge!
- The main channels for purchasing fiat currency are over-the-counter trading platforms and private OTC. OTC platforms usually support various assets like BTC, ETH, EOS; private OTC varies in scale, with most only supporting hard currencies like BTC and ETH. In unsecured situations, private transactions should be avoided as much as possible to prevent losses that are difficult to recover.
3. Basic Knowledge of Trading Cryptocurrencies: Common Technical Terms in the Trading Process#
- Position: The ratio of the actual assets held by the investor to the total investment funds.
- Full Position: Investing all funds to purchase virtual currency.
- Reducing Position: Selling part of the virtual currency but not completely liquidating it.
- Heavy Position: The share of virtual currency occupies a large part of the investment portfolio.
- Light Position: The share of available funds occupies a large part of the investment portfolio.
- Empty Position: Selling all virtual currency and converting it entirely to cash.
- Take Profit: Selling assets after achieving a certain profit to lock in gains.
- Stop Loss: Selling assets when losses reach a certain level to prevent further losses.
- Bull Market: A period when prices continue to rise, and market prospects are optimistic.
- Bear Market: A period when prices continue to fall, and market prospects are pessimistic.
4. Basic Knowledge of Trading Cryptocurrencies: Security Issues of Digital Currencies#
The security of digital currencies has always been a major challenge in the crypto world. Even storing assets on exchanges does not guarantee absolute safety; large platforms like Binance have been hacked multiple times, and smaller exchanges are often "automatic ATMs" for hackers. Therefore, ensuring asset security is crucial. The best solution is to store digital currencies in private electronic wallets. Software wallets manage assets through applications but have lower security; hardware wallets like onekey (similar to USB devices) provide higher security guarantees.
🔥 Solving the Issue of Inaccessibility to the OKX Exchange in China#
Many exchanges' original domain names may be blacklisted, or access speed may be affected due to servers being located overseas. For ordinary users, this situation often leaves them feeling helpless, even doubting whether the exchange itself has issues. In fact, this is more due to the network environment rather than a service interruption from the platform itself. To address this, exchanges like OKX and Binance typically update backup domain names regularly to ensure users can continue to access the official website through alternative addresses.
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- OKX Backup Domain Overseas OKX - Need to use VPN or Alternative Link
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- Binance Backup Domain Binance
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- Bitget Backup Domain Bitget
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- Bybit Backup Domain Bybit/Bybitglobal
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- Huobi HTX Backup Domain Huobi/HTX
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- Gate.io Backup Domain Gate.io (Open Sesame)
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4️⃣ Morelogin Multi-Account Fingerprint Browser www.morelogin.com
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