Post
Topic
Board Beginners & Help
Re: Tools and Terms for Beginners in Crypto Trading
by
aloofloofah
on 03/05/2018, 17:35:28 UTC
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. Wink

Also,
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Miner - device validating blockchain transactions
It's also a person who mines cryptocurrency.
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Mnemonic Phrase - a fancy version of the private key
Not that fancy, it's being used by most wallets nowadays as the "seed".
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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
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Long - buying a coin with the expectation that it will increase in value
which is nice, but then you followed with
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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.