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❓ Frequently Asked Questions

Answers to the most common questions about crypto and exchanges

What is cryptocurrency?
Cryptocurrency is a digital currency that uses cryptography to secure transactions. The most well-known is Bitcoin (BTC), created in 2009. Unlike regular money, cryptocurrencies are decentralized — no bank or government controls them.
Which exchange is best for beginners?
For beginners, Binance or WhiteBIT are the best options. Binance is the world's largest exchange with extensive educational materials. WhiteBIT offers a simple interface and easy verification. Take our exchange quiz for a personalized recommendation.
How much money do I need to start?
You can start with any amount — even $10-20. Most exchanges have no minimum deposit. However, we recommend starting with an amount you can afford to lose, as the crypto market is highly volatile.
Is it safe to store crypto on an exchange?
Large exchanges (Binance, WhiteBIT) have strong security, but for large amounts it's better to use a hardware wallet (Ledger, Trezor). Always enable two-factor authentication (2FA) on your exchange account.
What is the Fear & Greed Index?
The Fear & Greed Index shows crypto market sentiment from 0 (extreme fear) to 100 (extreme greed). When the index is low, the market is panicking and there may be good buying opportunities. When high, it's wise to be cautious.
What is staking?
Staking is earning from cryptocurrency without active trading. You lock your coins for a period of time and receive interest (usually 5-20% annually). Available on most major exchanges.
Do I need to pay taxes on crypto?
Tax rules vary by country. In most jurisdictions, crypto gains are taxable as investment income. We recommend consulting a tax professional for specific advice in your country.
What is DeFi?
DeFi (Decentralized Finance) refers to financial services on the blockchain without intermediaries. It includes decentralized exchanges (DEX), lending, staking, and yield farming. More risky than centralized exchanges but potentially more profitable.
How do I secure my exchange account?
1) Enable 2FA (Google Authenticator). 2) Use a unique complex password. 3) Don't click suspicious links. 4) Enable anti-phishing codes. 5) Never share your wallet seed phrase with anyone.
What is Bitcoin Halving?
Halving is an event where the miner reward per block is cut in half. It happens approximately every 4 years. After halving, the supply of new Bitcoin decreases, which historically has led to price increases.

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