cryptocurrency trading
Cryptocurrency trading
The biggest algorithmic stablecoin on the market today by market cap is DAI. DAI is backed by other cryptocurrencies, including ETH, Wrapped Bitcoin (WBTC) and even other stablecoins like USDC.( horse racing equipment 3) The crypto assets that back DAI are automatically bought and sold via smart contracts to maintain DAI’s $1 peg.(4)
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This is all possible because Ethereum introduced new technology to the crypto world when it launched in 2015. This technology is called a smart contract. A smart contract can automatically execute transactions when certain things happen.
These ‘things’ (also called conditions) are written into the smart contract when it is created. For example, a condition could be something like “WHEN Peter sends 120 Ether into the smart contract, THEN John’s house will be sent to Peter”.
Since Bitcoin, thousands upon thousands of cryptocurrencies and crypto assets have been created and serve purposes other than just being a new version of money, though they’re all underpinned by blockchain technology. There are technically over 1.8 million cryptocurrencies, according to CoinMarketCap, but most just fall into a few categories.
Cryptocurrency wallets
For a popular all-in-one hardware wallet, consider the Crypto.com DeFi Wallet, widely regarded as one of the most trusted and secure wallets to store NFTs — and voted the best NFT wallet 2024 by TradingPlatforms.
With a non-custodial wallet, you are the only one who has access to your private keys. This might sound like a recipe for disaster (after all, if you lose your keys, you lose your crypto), but non-custodial wallets actually offer two big advantages.
On the flip side, this means that users must be in charge of their own security with regard to the storage of passwords and seed phrases. If any of these are lost, recovery can be difficult or impossible because they are typically not stored on any third-party server.
For a popular all-in-one hardware wallet, consider the Crypto.com DeFi Wallet, widely regarded as one of the most trusted and secure wallets to store NFTs — and voted the best NFT wallet 2024 by TradingPlatforms.
With a non-custodial wallet, you are the only one who has access to your private keys. This might sound like a recipe for disaster (after all, if you lose your keys, you lose your crypto), but non-custodial wallets actually offer two big advantages.
Cryptocurrency trading
Fundamental analysis equips yourself with the tools to assess a cryptocurrency project’s underlying value. This strategic approach enables you to navigate the complex cryptocurrency landscape with a long-term perspective, making trading decisions that align with a project’s viability and potential.
Trend lines can be applied to a chart showing virtually any time frame. However, as with any other market analysis tool, trend lines on higher time frames tend to be more reliable than trend lines on lower time frames.
It’s always a good idea to plan for the worst. So having an exit strategy is an essential way to manage your risks. It’s easy for us to get caught up in a bull market and its euphoria, but having a plan to exit your position can help lock in gains.
Fundamental analysis equips yourself with the tools to assess a cryptocurrency project’s underlying value. This strategic approach enables you to navigate the complex cryptocurrency landscape with a long-term perspective, making trading decisions that align with a project’s viability and potential.
Trend lines can be applied to a chart showing virtually any time frame. However, as with any other market analysis tool, trend lines on higher time frames tend to be more reliable than trend lines on lower time frames.
It’s always a good idea to plan for the worst. So having an exit strategy is an essential way to manage your risks. It’s easy for us to get caught up in a bull market and its euphoria, but having a plan to exit your position can help lock in gains.
