Christ Over Culture with Isaac Solomon

Difference between Spot Trading, and Futures Trading.

Very simple,

SPOT TRADING : You can only buy a coin and anticipate its price to go up and you make profit from it. But make sure you buy low and sell high. Never buy high and sell low just to avoid losses.

FUTURES TRADING : In futures trading, you can Buy/Long a coin and anticipate that the coin price goes up and you make profit. At the same time, you can SELL/SHORT a coin that you think its price can't go up, and once the price dip, that's profit for you, simply means you borrow something from someone, you sell it higher the actual price that the person you borrow from bought. After selling it, you now buy it from somewhere else, and return it to the person

Meanwhile, there is what they called leverage in futures trading, Leverage means, If you want to buy a coin with 100, you can do leverage of 10x, which means you you pay #10 and Binance will now borrow you $90 (10 x 10 = 100), there are 5x, 25x, 50, ect leverage. There is also a liquidation level.

In a nutshell, you can only trade in 1 way in SPOT, but you can trade in 2 ways in futures.

PS: The same way, futures can make you super rich, it can also send you to the village within minutes 😅

CRYPTO TERMINOLOGIES

1. *FIAT* - Government-issued currencies i.e hardnotes Naira, Dollars etc.

2. *BLOCKCHAIN* - the technology of cryptocurrency that keeps the system secure and decentralized. It Is immutable.

3. *DEFI* - (Decentralized Finance) is an ecosystem that operates independently, free of third parties or exchanges.

4. *CEFI* - (Centralized Finance) had always been the standard for trading Crypto before DEFI. CEFI involves the use of companies operating exchange platforms like Binance, FTX etc

5. *WHITE PAPER* - A white paper is a document that outlines what a cryptocurrency is created to do and how it will achieve it within a set period.

6. *TOKENOMICS* - This is a combination of Token & Economics. It helps understand the supply and demand characteristics of a cryptocurrency

7. *ICO* - Stands for ‘Initial Coin Offering’, which is where a new cryptocurrency gives away some coins at a discounted rate usually to finance the project.

8. *IDO* - Stands for ‘Initial DEX Offering’ refers to the launching of a cryptocurrency on a decentralized exchange (DEX) usually at a price lower than the listing price in order to raise funds.

9. *COIN* - There is a difference between Coins and Tokens. A coin is an asset that is native to its own blockchain. E.g Bitcoin, Ethereum, Solana, icomex🙈😄😃

10. *TOKENS* - Tokens are created on existing blockchains. I.e Every cryptocurrency created under BSC, SOL, ETH or any other blockchain is not a coin but a Token. E.g $cake (Bsc), $rope (Sol), $UNI (Eth). Tokens are the backbones of DEFI & exist to be used with DEX.

11. *MARKET CAPITAL* - The total trading value of a cryptocurrency. Calculated by (Current Price x Circulating Supply= Mcap)

12. *STABLECOIN* - A cryptocurrency that is tied to the value of the US dollar to make it more stable and less volatile. E.g USDt, Busd

13. *PUMP AND DUMP* - This is kind of like a scam where people who own a large share of a Coin encourage others to buy to artificially pump the

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Keep Taking Positive Steps and keep building yourselves.🙏🏿

Happy Weekend❣️❣️

How well do you know about crypto currency?
Do you see it as scam? Or legit?
How much did you lose in the crypto market?
Will you still invest into it?
Or you will never to that again?
Give us your experience so that other will learn....