Chapter 1 - An Introduction to Cryptocurrency Trading

Question 1

to delve into Crypto trading, you must learn how to speculate using a…

Answer 1

…CFD account

Question 2

CFD

Answer 2

[contract-for-difference] (a legally binding agreement that creates, defines, and governs mutual rights and obligations between two parties <typically described as “buyer” and “seller”> stipulating that the buyer will pay to the seller the difference b/w the current value of an asset and its value at contract time

Question 3

Blockchain

Answer 3

special kind of software technology upon which cryptocurrencies are built

Question 4

Node

Answer 4

a computer in the network that runs software programmes

Question 5

nodes also given newly minted units of…

Answer 5

…cryptocurrencies

Question 6

Nodes are also referred to as…

Answer 6

…miners due to their abilities to eke out new units of cryptocurrencies

Question 7

tokens and coins are also commonly acknowledged as…

Answer 7

…utility tokens

Question 8

> = 51% of the nodes that comprise a blockchain must agree together to implement a change in order for the…

Answer 8

…blockchain software or underlying protocol to be made

Question 9

a fork is created each time a…

Answer 9

…blockchain of the cryptocurrency gets updated

Question 10

a hard fork is generated when…

Answer 10

…a side of this fork is continued as a standalone and new currency

Question 11

cryptocurrency tokens are connected to blockchains and…

Answer 11

…have special functions (e.g., smart contracts and Dapps)

Question 12

smart contracts

Answer 12

rules that are software-based