Task 2 For @besticofinder: How to Setup a Trading Account in Binance
Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.
CRYPTOCURRENCY
Cryptocurrency is a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.
"decentralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation".
Cryptocurrency mining is effectively a process of rewarding network users with Bitcoin for validating these transactions.By mining, you can earn cryptocurrency without
having to put down money for it. Bitcoin miners receive Bitcoin as a reward for completing "blocks" of verified transactions which are added to the blockchain.
Decentralized exchanges (DEX) are a type of cryptocurrency exchange which allows for direct peer-to-peer cryptocurrency transactions to take place online securely and without the need for an intermediary.
A centralized market is a financial market structure that consists of having all orders routed to one central exchange with no other competing market. The quoted prices of the various securities listed on the exchange represent the only price that is available to investors seeking to buy or sell the specific asset.
In a centralized crypto exchange, most of the control over your account remains in the hands of the third party which runs the exchange. On the other hand, with a decentralized exchange, all the control of the account remains with you.
Initial exchange offering is a variant of initial coin offerings, operated directly by cryptocurrency exchanges. A notable example was when the Bitfinex exchange issued an IEO apparently to shore up its reserve for Tether tokens.
Market capitalization, commonly called market cap, is the market value of a publicly traded company's outstanding shares. Market capitalization is equal to the share price multiplied by the number of shares outstanding.
A company's fully diluted market capitalization is what its market cap would be if all stock options were exercised and all convertible securities were exchanged for stock. ... At the current market price of $5 a share, that would bring the fully diluted market cap to $52.5 million.
Conclusion
This steps will test your patients but go through it so you don't make mistakes anyway thanks for reading and i hope you understand and i hope i explaned it very well Please @steemitblog and @besticofinder, here is my task entry and thanks for reading.
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