Tools and Terms for Beginners in Crypto Trading

[SergiuDemerji]

In this article I included all the trading information that a beginner needs to know to be successful

Glossary of Terms

Altcoin - abbreviation of alternative coin, or all projects that exist and cryptocurrencie afferent except Bitcoin
AML - Anti-Money Laundering. Money laundering laws
ATH - All Time High
Bearish - a downward trend
BFX, Finex - the BitFinex exchange
Bullish - an upward trend
CB - Coinbase exchange
C & H - Cup and Handle Chart Pattern
Core wallet - a wallet that contains the whole blockchain
Circulation supply - the total number of coins in circulation
Dapps - comes from a decentralized application, blockchain applications
DCA - Dollar Cost Averaging
Electrum wallet - a light wallet that does not require the blockchain to download but which takes its information from a third party
Fiat - money of no intrinsic value that is issued and governed by a government. Examples: $, £, ¥, €
Fib - fibonacci retracement
FOMO - Fear Of Missing Out. When Bitcoin or another coin grows very loud in a short period of time and investors act reasonably, you are emotionally involved for fear of losing the "boat"
FUD-Fear, Uncertainty & Doubt
H & S - Head and Shoulders chart pattern
Halving / halvening - reducing reward for miners. The BTC happens once every 4 years.
Hoobi - the Huobi exchange
HODL / HOLD - jargou for a trader who invests long-term. Acronym used in comments: Hold On Despite Loss
ICO - Initial Coin Offering. A crowd that offers the opportunity to buy a digital bank for a new blockchain project
KYC - Know Your Customer
Long - buying a coin with the expectation that it will increase in value
Market cap: currency price X currencies in circulation
Max Supply - the maximum number of coins that will exist
Miner - device validating blockchain transactions
Mining reward - the reward a miner receives for the computational power it provides to check the blocks in the blockchain
Mnemonic Phrase - a fancy version of the private key
OKC - the OKCoin exchange
P & D - Pump and Dump
P / L, P & L, PNL - Profit and Loss
Polo - Polo Exchange
Public key - public key in the crypto currency jargge means wallet
Private key - the key used to access a wallet
Rekt - wrecked. Loss of a trade
Satoshi - the smallest part of a bitcoin. 1 Satoshi = 0.00000001 ฿ ..
Short - selling at margins
Stamp - the BitStamp exchange
Stop - stop loss order
TA - Technical Analysis
Whale - a single entity (investor or institution) that sells (bearwhale) or buy (bullwhale) very large amounts

Market Tools and Data

TradingView- https://www.tradingview.com
Cryptowatch- https://cryptowat.ch/
BitcoinWisdom- https://bitcoinwisdom.com/
CoinAlyze- https://coinalyze.net/
Bitcoin Analytics- http://bitcoin-analytics.com/

Cryptocurrency Market Capitalizations

CoinMarketCap- https://coinmarketcap.com/
CoinGecko- https://www.coingecko.com
Live Coin Watch- https://www.livecoinwatch.com/
Coincap- https://coincap.io/
Coin.live- https://www.coin.live/

Exchanges

Binance- https://www.binance.com/?ref=19792322
Bittrex- https://bittrex.com/
Bitstamp ($, €)- https://www.bitstamp.net
Cex.io ($, €)- https://cex.io/
Coinbase ($)- https://www.coinbase.com
HitBTC ($, €)- https://hitbtc.com/
Kraken ($, €)- https://www.kraken.com
LocalBitcoins- https://localbitcoins.com
Poloniex- https://poloniex.com/
KUcoin- https://www.kucoin.com/

News

CoinDesk- https://www.coindesk.com/
Bitcoin Magazine- https://bitcoinmagazine.com
The Merkle- https://themerkle.com
CryptoCoinNews- https://www.ccn.com
Cointelegraph- https://cointelegraph.com/
Bitnewstoday- https://bitnewstoday.com

Portfolio Tracker

AltPocket (Web)- https://altpocket.io
Blockfolio (App)- https://www.blockfolio.com
CoinCap (App)- https://coincap.io
Drakdoo (App)- https://www.drakdoo.com
CoinTracking (Web & App)- https://cointracking.info

Wallets

Desktop (Windows, Linux, OSX):
Electrum (BTC)
Litecoin (LTC)
Bitcoin.com (BTC, BCH)
Stargazer (XLM)
NEO (NEO)
Lisk Nano (LSK)
Sia-UI (SC)
ArkEcosystem (ARK)
Monero (XMR)
NEM (NEM)
Stellar (XLM)
IOTA (MIOTA)
Stratis (STRAT)

Online:
Blockchain.info (BTC, BCH, ETH)
MyEtherWallet (ETH, ETC, ERC20 tokens)
LiteVault (LTC)
Ark Lite WALLET (ARK)
ClassicEtherWallet (ETC)

Hardware:
Ledger Nano S
Trezor
KeepKey

I hope this information is helpful. Do not forget the trading is risky, To buy a cryptocurrency DO RESEARCH.

[1715697776]

1715697776

[1715697776]

1715697776

[1715697776]

1715697776

[1715697776]

1715697776

[1715697776]

1715697776

[wandino]

Pretty cool but generic list.

[keyscore44]

Interesting list but it is just part of services. To be honest it is probably impossible to make up to date list like this, because everyday something is changing on crypto market.

About desktop wallets - Almost all coins have own desktop wallets, just some of them are multi wallets that can store few different coins. For tokens are online wallets (For ERC20 - MyEtherWallet) that can be secured with hardware (Trezor or Ledger)

[darkangel11]

I think you should correct the following

• Public key: public key in the crypto currency jargge means wallet  wallet address
• Private key:the key used to access a wallet a secret number that allows cryptocurrency to be spent

And that secret thing used to access the wallet is the password.

Also,

Miner - device validating blockchain transactions

It's also a person who mines cryptocurrency.

Mnemonic Phrase - a fancy version of the private key

Not that fancy, it's being used by most wallets nowadays as the "seed".

Polo - Polo Exchange

Poloniex exchange.


I don't see this list as a piece of information for newbies. If I were a newbie, I wouldn't understand most of these terms. You did a good job by trying to explain abbreviations, but most of these terms are still too complicated for beginners. For instance you explained

Long - buying a coin with the expectation that it will increase in value

which is nice, but then you followed with

Short - selling at margins

Instead of saying that it's selling in hope that it will decrease in value, which is more newbie friendly.

[SergiuDemerji]

I think you should correct the following

• Public key: public key in the crypto currency jargge means wallet  wallet address
• Private key:the key used to access a wallet a secret number that allows cryptocurrency to be spent

And that secret thing used to access the wallet is the password.

Also,

Miner - device validating blockchain transactions

It's also a person who mines cryptocurrency.

Mnemonic Phrase - a fancy version of the private key

Not that fancy, it's being used by most wallets nowadays as the "seed".

Polo - Polo Exchange

Poloniex exchange.


I don't see this list as a piece of information for newbies. If I were a newbie, I wouldn't understand most of these terms. You did a good job by trying to explain abbreviations, but most of these terms are still too complicated for beginners. For instance you explained

Long - buying a coin with the expectation that it will increase in value

which is nice, but then you followed with

Short - selling at margins

Instead of saying that it's selling in hope that it will decrease in value, which is more newbie friendly.

Thnak you for advice . at least someone is reading:) I will change when i will be in front of computer . Sorry for mistakes english it`s not my native language and when i write a post i`m using different tools to write correctly .

[aloofloofah]

I think you should correct the following

• Public key: public key in the crypto currency jargge means wallet  wallet address
• Private key:the key used to access a wallet a secret number that allows cryptocurrency to be spent

And that secret thing used to access the wallet is the password.

Also,

Miner - device validating blockchain transactions

It's also a person who mines cryptocurrency.

Mnemonic Phrase - a fancy version of the private key

Not that fancy, it's being used by most wallets nowadays as the "seed".

Polo - Polo Exchange

Poloniex exchange.


I don't see this list as a piece of information for newbies. If I were a newbie, I wouldn't understand most of these terms. You did a good job by trying to explain abbreviations, but most of these terms are still too complicated for beginners. For instance you explained

Long - buying a coin with the expectation that it will increase in value

which is nice, but then you followed with

Short - selling at margins

Instead of saying that it's selling in hope that it will decrease in value, which is more newbie friendly.

Thnak you for advice . at least someone is reading:) I will change when i will be in front of computer . Sorry for mistakes english it`s not my native language and when i write a post i`m using different tools to write correctly .

Yes, very hard when english is not native as the cryptoworld is mainly english speaking language.

[karl.laue]

I'm using ai prediction of cryptics, it's really newbie friendly, check this out;)