Using Bitcoin and many other cryptocurrencies is simple and require no special skills. Tools and platforms for buying, selling, and storing virtual assets tend to have intuitive interfaces and should not be a challenge for someone with basic computer knowledge. With investing, however, things are different.
In order to profit from investing, you need to invest wisely – and it’s not just about being smart. It is crucial to learn the basic terminology related to the cryptocurrency market. Knowing various investment strategies that minimize the risk of loss also increases your chances of success. Before you start investing, you should first learn the meaning of terms such as:
- blockchain,
- mining,
- altcoins,
- retracement (when talking about exchange trends),
- ATH (all time high),
- spread,
- FOMO (fear of missing out),
- electronic wallet,
- FIAT currency,
- hard fork,
- private key,
- public key,
- ICO,
- satoshi.