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 in the crypto space, 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 do you need to master for trading cryptocurrencies? Many newcomers who have just started with digital currencies and blockchain are often confused not by which coins to choose, but by the professional terminology. What essential knowledge should a true novice looking to enter the market understand?
This article compiles relevant professional terms for your reference:
1. Basic Knowledge of Cryptocurrency Trading: Fundamental Characteristics of Virtual Currency Transactions#
- Trading Time: Open year-round, 24 hours a day, 7 days a week.
- No Price Limits: Unlike stocks, virtual currency trading has no upper or lower price limits; 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 like stocks requiring a minimum of one lot (100 shares).
- Anytime Trading: Uses a T+0 mechanism, allowing purchases to be sold on the same day; stocks operate on a T+1 basis, requiring the next day to sell.
- Withdrawal and Cashing Out: Can be done 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 with funds. Therefore, 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 collecting】
2. Basic Knowledge of Cryptocurrency Trading: 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 skyrocket!
- 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. It is advisable to avoid private transactions without guarantees to prevent difficulties in recovering losses if scammed.
3. Basic Knowledge of Cryptocurrency Trading: Common Professional Terms in Virtual Currency Transactions#
- 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: A large portion of the investment portfolio is in virtual currency.
- Light Position: A large portion of available funds is in the investment portfolio.
- Empty Position: Selling all virtual currency and converting everything 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 Cryptocurrency Trading: Security Issues in Digital Currency#
The security of digital currencies has always been a major challenge in the crypto space. Even storing assets on exchanges does not guarantee absolute safety; large platforms like Binance have faced multiple hacker attacks, and smaller exchanges are often seen as "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 and even questioning whether there is an issue with the exchange itself. In reality, this is more about the network environment rather than a service interruption from the platform itself. To address this situation, exchanges like OKX and Binance typically update backup domain names regularly to ensure users can continue accessing the official website through alternative addresses.
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- OKX Backup Domain Overseas OKX - Requires VPN or Alternative Address
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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 (Huobi/HTX)
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- Gate.io Backup Domain Gate.io (Open Sesame)
🔥 Related Reading#
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