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Support – Glossary

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51 articles in this collection.
Anti-Money Laundering (AML) refers to rules and regulations for financial and legal systems that are designed to prevent financial crimes, such as making money illegally and moving illicit funds.

Banks and other financial organizations follow AML policies to ensure they don’t participate in money laundering. Most use special software for tracking suspicious activity and checking customers’ names against government lists. In this regard, AML is connected with Know Your Customer (KYC) policies, which aim to verify customers’ identities.

Most crypto platforms, including BITDAX.IO, work in accordance with AML/KYC policies to provide a secure and reliable place for exchanging and storing funds. BITDAX.IO strives to follow regulations while protecting your privacy. We use advanced technologies to make the verification process fast and convenient for customers. You can find more details about the components of our AML/KYC policy on our Legal and Security page.

An application programming interface (API) is a program that enables applications to share information and interact with each other.

An API allows developers to integrate existing functionality into their applications instead of having to build that functionality themselves. Put simply, an API is a messenger that takes requests and tells a system what you want it to do. Then it returns the system’s response.

You can review all the functionality offered by the BITDAX.IO API in our API description. The BITDAX.IO API allows you to:

Download historical data and stream real-time market data

Place and cancel trading orders

View account balances

Download trading history

Access a source of Bitcoin liquidity

And much more

Traders can also use BITDAX.IO APIs to supply market data to their trading bots. This form of trading is known as algorithmic trading (or bot trading).
Arbitrage is a technique for profiting from a price difference. In crypto trading, arbitrage means buying and selling the same asset/coin on different exchanges to benefit from price differences.

Traders who want to use arbitrage should closely monitor the market situation and react to changes immediately. A manual approach to arbitrage takes too much time and is not practical. BITDAX.IO offers the following features to support arbitrage:

Access to market data from different exchanges in a single tab in the BITDAX.IO mobile app

API solutions for automated trading

The ask price (or simply “ask”) is the price at which a trader is offering to sell an asset. In an order book, the lowest ask price is always higher than the highest bid price, and the difference between them is called the spread.

When you want to buy cryptocurrency, you should consider the ask price. Usually, the order in the order book with the lowest asking price is the first to be filled when a trader places a market buy order.

You can check the current ask price under the price chart on the Trade page of the BITDAX.IO website. It’s displayed in the Sell orders box.

The base currency is the first currency that appears in a currency pair. On an exchange platform, one currency is always quoted in relation to another.

In a currency pair, the price of a cryptocurrency or some other asset is shown in the quote currency, indicating the amount of the quote currency a trader should pay in order to obtain some unit of the base currency.

Since currencies vary in capitalization, volatility, and usability, we use the concept of a base currency to compare the values of different cryptocurrencies and assets.

The bid price (or simply “bid”) is the amount a trader is ready to pay for an asset. In an order book, the highest bid price is always lower than the lowest ask price, and the difference between them is called the spread.

In an order book, the order with the highest bid price is the first to be filled when a trader places a market sell order.

You can check the current bid price under the price chart on the Trade page of the BITDAX.IO website. It’s displayed in the Buy orders box.
A blockchain is an online network composed of immutable blocks of data that are recorded chronologically. A blockchain network links all of these blocks together and secures them with cryptographic proofs.

Blockchain technology is at the core of most cryptocurrency networks and enables the transfer of funds around the globe. Millions of computers simultaneously control blockchain processes, and anyone with an internet connection can check records in a blockchain. Meanwhile, the decentralized approach protects records from unauthorized changes. It’s technically impossible to cancel or change a blockchain operation (a crypto transaction) that has been approved.
A block reward refers to the number of coins a miner gets if they successfully confirm a whole block of transactions. Many cryptocurrencies including Bitcoin give block rewards to miners. A block reward is made of two components: the block subsidy and transaction fees. The block subsidy consists of newly generated coins and represents the biggest part of a block reward. The other part is made up of all fees paid for all transactions included in the mined block.
In trading, a candlestick is a chart indicator that shows the price movement within some period of time (a minute, an hour, a week, a month, etc.).

There are four main candlestick components: open, close, high, and low. The open of a candlestick represents the price of the first order in the trading period, while the close represents the price of the last completed order during the period. High and low represent the highest and lowest prices of executed trades within the same period.

When the close price is higher than the open price, a candlestick becomes green, signaling an uptrend. If the close price falls below the open price, the candlestick becomes red and we say that the price has dropped. Candlesticks are practical for tracking market trends and even making predictions.

Actually, no one knows who the creator of candlesticks as a trading pattern is. However, Munehisa Homma from Japan is known as the first person to use them when trading at the Ojima Rice Market in Osaka. That’s why we also call them “Japanese candles.”

Cold storage means holding cryptocurrency offline. Cold crypto wallets aren’t connected to the internet and therefore are protected from hacking, phishing, and other threats that could lead to a loss of digital assets. To protect your funds, BITDAX.IO keeps most of its coins offline. This doesn’t influence the speed of your crypto deposits and withdrawals.

You can store your funds in a cold wallet using:

a USB flash drive

a QR code

a manual transcription (typing a wallet address or writing it down on paper)
With regard to cryptocurrency, the number of confirmations is the number of blocks that have been created after a transaction was added to a blockchain. The more confirmations a transaction has, the more secure the transaction is.

Generally, Bitcoin transactions are considered safe after at least six confirmations. This means that five more blocks have been confirmed after the block containing the transaction. Once a transaction is in a block it takes about an hour to receive five more Bitcoin confirmations. Most wallets require a minimum of three such confirmations to save your time.

Actually, the time for processing crypto transactions depends on the miners and the size of transaction fee. In order to confirm a transaction, miners need to use the processing power of a computer or other device to solve an encrypted signature. The more processing power is available, the better the chance the miner can verify the transaction faster. Besides, the miner will try to process transactions that have the highest commission.
Cryptocurrency is digital cash with a cryptographic approach to transferring funds. Nowadays, cryptocurrency is also a popular payment method. Customers can use cryptocurrencies to pay for various goods and services. In this way, cryptocurrencies are similar to fiat funds.

The main advantage of cryptocurrencies is that they run in a global and decentralized network of computers. Cryptocurrencies don’t have a single point of failure. They are not controlled by a single entity and are independent of central authorities like governments and banks. Still, cryptocurrencies can be transferred from person to person quickly and with low commissions. Additionally, sending cryptocurrencies over far distances does not require confirmation by third parties, such as banks or payment providers.

There are many use cases for cryptocurrency. Users can store them in digital wallets, trade them for fiat currencies, and even use them to pay for goods and services.
A cryptocurrency exchange is an online platform for buying cryptocurrencies or exchanging them with other digital assets. For example, BITDAX.IO allows users to exchange crypto for fiat and crypto to crypto. A crypto exchange usually acts as an intermediary between buyers and sellers. To trade cryptocurrencies on an exchange platform, you need to:

register an account

top up your balance

place trade orders.

It’s important for a crypto exchange platform to provide a range of payment methods so customers can easily deposit and withdraw funds. For example, on BITDAX.IO you can use payment cards, bank transfers, Skrill and QIWI wallets, or cryptocurrencies.
A currency pair represents the price of one currency quoted against another. For example, BTC/USD is a currency pair that defines the price of BTC in terms of USD.

In a currency pair, the first listed currency is called the base currency and the second is the quote currency. When we look at a currency pair, we can see how much of the quote currency (in our example, USD) is needed to get some unit of the base currency (in our example, BTC).
A desktop wallet is a program for storing cryptocurrencies that’s installed on a computer. The owner of the desktop wallet has complete control over it. They can create a wallet address for sending and receiving crypto, store private keys, manage their balance, etc. Similar to assets in cold wallets, cryptocurrencies in desktop wallets are kept offline, and thus they can’t be hacked. However, it's always important to keep your device safe. If someone gains control of your computer physically or through malware, they can also gain access to your desktop wallet.

To get a desktop wallet, you just need to download software to a laptop or desktop computer. As the wallet owner, you’re the only one who can access your wallet and you can manage funds using only that particular device.

Dust refers to any small amount of coins or tokens that have such a low value that they can’t be processed in blockchain transactions.

For example, Bitcoin dust is a small amount of Bitcoin in a particular wallet or address whose value is even lower than the fee required to make a transfer. This makes it impossible to process a transaction. To avoid losing dust in the network, it’s important to check the minimum amount required for crypto deposits and withdrawals.

Sometimes, the term dust refers to small fractions of cryptocurrencies that are left from trades. Most exchanges have a minimum trade requirement, meaning that it may not be possible to trade small amounts of cryptocurrency remaining on an exchange account.
Ethereum Request for Comments (ERC) is the official protocol used by smart contract developers on the Ethereum blockchain. It’s also used for making suggestions for improving the Ethereum network.

ERC-20 is the twentieth proposal for updating the Ethereum blockchain and contains the technical specifications for tokens issued on the blockchain.

Implementation of the ERC-20 protocol has simplified the process of adding new coins to crypto exchange platforms. Once a platform supports ERC-20, it’s possible to add many different tokens without generating new code for each of them.

Among ERC-20 tokens, CEX.IO currently supports Tether (USDT), Gemini Dollar (GUSD), OmiseGO (OMG), Basic Attention Token (BAT), and United States Dollar Coin (USDC) and a range of De-Fi tokens.
Ethereum is an open-source, blockchain-based, decentralized software platform that uses its own cryptocurrency, Ether (ETH). Smart contracts and Distributed Applications (dApps) can be run on the Ethereum blockchain without any downtime, fraud, or control or interference from a third party.

Ether is the second-largest virtual currency on the market after Bitcoin. It is a digital asset, and it doesn’t require third parties in order to execute transactions and payments. It also acts as fuel for decentralized apps within the Ethereum network. If users want to make changes to Ethereum apps, they need to pay a transaction fee in Ether so the network can process the change.
Fiat currency is money issued by a government in the form of paper banknotes and specie. USD, EUR, GBP, and RUB are fiat currencies supported by BITDAX.IO.

Fiat currencies are used around the world, so they’re useful for international trade. You can store them in a bank account, use them for transferring funds to another person, or use them to pay for goods and services. On BITDAX.IO, you can easily trade crypto against fiat currencies using your debit or credit card. Or you can make a bank transfer deposit to trade crypto with fiat currency on your BITDAX.IO account balance.
A fill-or-kill (FOK) order is an order to buy or sell crypto immediately at a specified price. If the price is unavailable at the moment, the order is canceled.

With a FOK order, you can get a big amount of crypto right now and for the indicated price. On BITDAX.IO, you can buy crypto via FOK orders using the Buy/Sell page on the website or in the BITDAX.IO mobile app. You just need to specify the amount and choose a payment method — your available balance or a payment card.
Fork is a separation from the main project using its codebase to create a new one. Each new branch can develop independently of the main project, and it can implement features that were not in the main project. For example, Litecoin is a fork of Bitcoin because its developers copied the Bitcoin code, made a number of changes, and launched a new project.

Making a fork is the only way to update the blockchain and its protocols. Forks can be planned and managed by the core team, or they can be initiated by a group of developers who are unhappy with some aspect of the project. There are soft forks when a change is backward compatible with the previous version, and hard forks when a new branch is radically different from the main project.
Gas refers to the fee required to successfully process a transaction or execute a contract on the Ethereum blockchain platform. Gas is literally the fuel of the Ethereum network.

Ethereum miners, who perform the important tasks of verifying and processing transactions, are awarded gas for their computational services. Gas measures the amount of work miners need to do in order to include transactions in a block. If a transaction needs to be confirmed as soon as possible, a higher gas price should be included with the transaction. If the gas price for a transaction is too low, miners can choose to ignore it.

The genesis block is the first block in the Bitcoin blockchain. It’s also called the 0-block since it was the first one ever mined.

The genesis block forms the foundation of the entire Bitcoin trading system and is the prototype of all other blocks in the blockchain. This block is unique because it has a 50 BTC reward subsidy that can never be spent.
In the world of cryptocurrencies, halving means decreasing the mining reward by half.

When confirming transactions on a blockchain, miners get rewards in the form of cryptocurrency. Given that the supply of cryptocurrencies like Bitcoin is limited, halving helps to support the circulation of coins in the network for a long time.

Halving was programmed into the Bitcoin network and occurs every 210,000 blocks or approximately every four years. Once that number of blocks is reached, the block reward is cut in half.

What are the possible effects of a Bitcoin halving?

For a trader, halving can bring BTC price changes.

For a miner, halving means a 50% lower mining reward.
A hot wallet refers to any cryptocurrency wallet that’s connected to the internet. Generally, hot wallets are easier to set up and access than cold wallets. You just need a good internet connection to do so. However, hot wallets are also susceptible to hackers and technical vulnerabilities. Most crypto platforms like BITDAX.IO use both hot wallets and cold storage, which makes crypto trading easier and more efficient.
ICO stands for Initial Coin Offering, a variation on the idea of an IPO (Initial Public Offering). Entrepreneurs looking to launch a new cryptocurrency can do so through an ICO.

In an ICO, newly created tokens are shared in exchange for existing cryptocurrencies such as Bitcoin or Ethereum.

ICOs are used for corporate financing and charitable fundraising. They can also be a source of capital for startup companies. ICOs can allow startups to avoid regulations that prevent them from seeking investment directly from the public.

However, ICOs are often used for fraud. The US Securities and Exchange Commission (SEC) has warned investors to beware of scammers using ICOs to execute so-called “pump and dump” schemes. In these schemes, the scammer talks up the value of an ICO in order to generate interest and drive up the value of the coins, then quickly dumps the coins for a profit.
KYC stands for “Know Your Customer” or “Know Your Client.” Usually, KYC policies go alongside Anti-Money Laundering (AML) policies and help companies avoid the risks of being involved in illegal activity. That’s why crypto platforms use special software and complex measures for tracking suspicious activity and checking customers’ names against government lists. By choosing an exchange that applies a KYC policy, you can be sure your funds are secure and are not involved in illegal activities.

Thanks to advanced technologies, verification on BITDAX.IO is fast and easy. Just provide some basic information about yourself. In return, you’ll get a secure crypto trading environment. You can be sure about the security of your personal data since BITDAX.IO is PCI DSS compliant and uses SSL encryption. You can find more details about the components of our AML/KYC policy on the Legal and Security page.
Ledger wallets are cold wallets used to store cryptocurrencies offline. Nowadays, there are two Ledger wallets: Nano S and Blue. The Ledger Nano S wallet is a USB wallet, while Ledger Blue is a portable device with a touchscreen and the ability to connect to the computer via USB and Bluetooth. Both wallets allow owners to send and receive crypto and launch different applications on the device.
A limit order allows you to trade cryptocurrencies at a specified price, which may differ from the current market price.

When you place a limit order, you decide how much crypto you want to buy or sell and at what price. Then the order is sent to the order book and will be executed when the market price reaches the price you’ve indicated. You can place a limit order on the Trade page of the BITDAX.IO website.

Limit orders may be partially completed if there is not a sufficient volume of orders at a given price to cover the entire order amount. The remainder of the order will then be left open until it’s closed by a matching order or canceled. The executed part of a limit order may not be reversed.
The liquidity of a cryptocurrency is measured by how quickly it can be exchanged for fiat currency.

When trading cryptocurrencies, you want to buy and sell quickly at the most favorable rate. Market liquidity allows you to complete your trades without delays.

If you want to purchase cryptocurrencies immediately, you need to pay the current market rate. High liquidity allows you to buy and sell a cryptocurrency for a price close to what you’ve asked without waiting for a long time. The more orders are in the order book, the more liquid the crypto platform is.

You can look at the order book on the Trade page of the BITDAX.IO website.

Maker fees are paid when you add liquidity to a crypto platform’s order book. This happens when you place a limit buy order below the current market price or a limit sell order above the current market price.

Such an order cannot be executed right away because there is no matching order available yet. If the market moves below the limit order price, the buy order will be completed and the trader will pay a maker fee. This fee is usually lower than the taker fee because the trader has added liquidity to the order book; the buy order increases the exchange’s trading volume and liquidity.

If you place a limit order at a price close to the current market rate, it can happen that your order will be completed as a taker due to the high volatility.

The maker fee on BITDAX.IO varies from 0.16% to 0% depending on your monthly trading volume.

You can find more details on how trading fees are calculated on BITDAX.IO in our Help Centre.
Market depth reflects the number of all pending buy and sell orders for a particular currency pair.

When you check the market price on the Trade page of the BITDAX.IO website, you can find Market depth under the main chart. In fact, it contains limit orders that are pending. You can see how many traders would like to buy the selected crypto at a higher or lower price than the current

Why is market depth an important indicator? Because sufficient market depth and an order book full of records make it difficult to manipulate the price. That means you can be sure you’re trading in a fair and secure environment.
A market order is a request by a trader to execute a transaction as quickly as possible at the best market price. It guarantees order execution but does not guarantee the price at which the order will be executed. Market orders are used when the speed of execution is more important than the price.

To place a market order, enter the amount you want to spend or get and you’ll see the estimated price for your order. This price is calculated from the top of the order book down. For example, say you would like to sell 5 BTC with a market order. There are currently buy orders for 3 BTC at $600 and 4 BTC at $550, which represent the best prices available. Your market order will fulfill the first order completely, giving you $1,800 for 3 BTC, and will fulfill the second order partially, giving you $1,100 for 2 BTC. In total, you’ll receive $2,900, for an average price of $580 per BTC.

Since a market order is executed instantly, it cannot be reversed or canceled. You can place a market order on the Trade page of the CEX.IO website.

A node is a computer or device that connects to the blockchain and uses a peer-to-peer (P2P) protocol. All nodes on a blockchain are connected to each other and constantly share the latest blockchain data with each other so they stay up to date. P2P protocols allow nodes to communicate with each other within a network.

A node communicates with all peers connected to it and monitors them. When a new block or transaction is received, it’s reported to the network by a peer. A node then verifies the accuracy of the reported data. To eliminate the possibility of double spending, the node tests each of a transaction’s terms. If the node receives an invalid transaction, it stops the data exchange with the peer.

In a P2P network, a peer who has attempted fraud is isolated, and all crypto nodes stop interacting with it.

Nodes can be online or offline. Online nodes receive, save, and broadcast all the latest blocks of transactions between other nodes, while offline nodes do not.
Nonce is an abbreviation for number only used once.

This is a number that is written into the block header and must meet certain conditions (the block hash must be in the correct range).

The nonce is the number that blockchain miners are solving for. To successfully verify a block, a miner needs to be the first to guess the block’s nonce.

If the miner’s hash meets the requirements set, then the block is added to the blockchain. Searching for a solution in order to guess the nonce is referred to as proof of work. The miner who is able to find the value fastest gets the block reward.
A peer-to-peer (P2P) network is not centrally controlled. It allows anyone with an internet connection to participate in sharing files. In a P2P network, the peers are usually computer systems connected in nodes. A blockchain is a typical example of a P2P network.

For crypto exchanges, a P2P platform allows buyers to pay sellers directly without involving third parties. A P2P exchange platform only serves trading operations and is not authorized to store funds. Therefore, the range of services a P2P exchange offers is much smaller than the range of services offered by centralized platforms.
A private key is a secret set of numbers that allows cryptocurrency to be sent from a specific wallet. Without a private key, you can’t withdraw cryptocurrency.

BITDAX.IO automatically generates and stores private keys for your crypto wallets. When you send crypto from aBITDAX.IO wallet, the transaction is signed by your private key. This key proves to the entire network that you have the authority to manage the funds at this wallet address.

A private key is naturally connected with the corresponding public key (or address). Unlike a public key (or your wallet address), however, a private key should not be disclosed, as it gives access to your funds.
A public key is a cryptographic code that allows users to receive cryptocurrency to their accounts. In simple words, it’s a wallet address that you can freely share with others.

A public key is made up of an extremely long string of numbers, so it’s compressed and shortened to form a public address. What you see on the Deposit page on BITDAX.IO are the public addresses of your wallets.

Generating a new wallet address begins with generating a private key. When you make a transaction on BITDAX.IO for the first time, your wallet address is created automatically.
QR stands for Quick Response, as QR codes can be read quickly by a smartphone. They contain information that can be read by a phone’s camera. QR codes are more convenient than standard barcodes because they’re able to contain much more data including links, geographical coordinates, and text.

With cryptocurrencies, QR codes are used for sharing wallet addresses.
SegWit stands for Segregated Witness, where Segregated refers to separate and Witness refers to the signatures of a specific transaction.

In terms of blockchain processes, SegWit is removing signature data from Bitcoin transactions with the aim to increase the block size. As a result of the soft fork in the Bitcoin network, SegWit changed the rules of the transaction format in the Bitcoin network. Developers hoped that SegWit would give more transactions per block and increase the speed of transactions.

However, not all exchanges and wallets support operations with SegWit addresses. The legacy format is more popular, so you should clarify with the sender or recipient what wallet format they support.

You can find more info about the history of SegWit addresses and their peculiarities in our blog post.
A smart contract is a computer algorithm designed to generate, control, and provide information about ownership. Mostly, smart contracts work using blockchain technology.

The parties sign a smart contract using methods similar to the creation of a crypto transaction. Once signed, the contract is saved on the blockchain and takes effect. Ethereum blockchain nodes allow for automated execution of contract clauses.

The duties of the parties are provided in the form of if-then (for example: if Party A transfers money, then Party B transfers the goods). There can be two or more members and they can be individuals or organizations. As soon as conditions are met, the smart contract independently executes the transaction.

Smart contracts allow you to exchange money, goods, real estate, securities, and other assets. The contract is stored and replicated in a decentralized ledger in which information cannot be falsified or deleted.
A stablecoin is a cryptocurrency with a stable market price pegged to the price of another asset. In most cases, the price of a stablecoin is almost equal to that of the US dollar and should not experience significant fluctuations However, there’s no absolute guarantee of 1:1 equivalence. Still, stablecoins are a convenient way to store your funds online.

The main idea of stablecoins is to combine benefits of fiat currencies and cryptocurrencies. Stablecoins offer stability, increased transparency, and decentralization alongside fast transactions and low fees.

Currently, BITDAX.IO supports the USDT (Tether),USDC (United States Dollar Coin), GUSD (Gemini Dollar), DAI, TrueUSD (TUSD), mStable USD (mUSD), и Binance USD (BUSD) stablecoins. And this is not the whole list, as we are constantly adding more new coins.

You can deposit these coins to BITDAX.IO and use them for trading against other cryptocurrencies, or you can sell cryptocurrency for USDT or USDC and store these coins on your BITDAX.IO balance.
Staking is holding funds in a cryptocurrency wallet to maintain a blockchain network’s operations. It allows you to receive rewards by letting your coins work for you and increase your earnings while they remain in your account.

Staking is closely related to Proof of Stake (PoS) consensus, which entails producing and validating new blocks through staking instead of mining. The advantage of PoS consensus is that it requires less computing power than Proof of Work.

Staked coins are usually locked for as long as a validator participates in consensus. However, with BITDAX.IO, you can trade your staked coins. Your reward will be calculated as long as these coins sit in your BITDAX.IO account, even if you place an order. Currently, rewards are calculated every hour and are sent to your account once a month.
A digital signature is a complex and secure version of your handwritten signature. It’s a cryptographic mechanism used for verifying digital data. In cryptocurrencies, a digital signature often consists of three basics: hashing, signing, and verifying.

It’s used in crypto transactions as a private key that gives you access to funds stored in a wallet. Technically, when coins are sent to an address, the recipient should provide both the private key (signature) and the public key (wallet address). Your digital signature shows that you know the private key of the wallet address.
The price spread is the difference between the highest buy order and lowest sell order on a particular platform. At the point where buyers’ and sellers’ orders meet, they’re matched and complete each other.

One of the most common types of spread is the bid-ask spread, which refers to the gap between the bid (from buyers) and the ask (from sellers). In fact, it’s a gap that can be created by the differences between the prices of limit orders placed by different traders. Market spreads open a lot of arbitrage opportunities for experienced traders.
When creating a blockchain transaction, you have to include a transaction fee — a small amount that will be paid to miners for validating the transaction. Because each block contains a limited space, miners will naturally try to confirm transactions with higher fees first.

If you send funds using the BITDAX.IO platform, the fees are already included in your deposit and withdrawal amounts.BITDAX.IO strives to implement competitive fees for your transactions so they’re completed without delays. At the same time, we try to make these fees as low as possible so you don’t overpay for crypto withdrawals.
Two-factor authentication(2FA) is a method of protecting your account and related data using two different types of validity checks.

When you sign in to an account, you usually enter your login and password. In this case, we can say that your password is one of your authentication factors. If you enable 2FA, you’ll need to provide one more unique code to access your account. This code is usually provided by SMS or with a special application.

2FA gives an extra layer of security to your personal information and funds. You can enable 2FA on your BITDAX.IO account using the SMS method or the Google Authenticator app.
Taker fees are paid when a trader takes liquidity from the order book. This happens when a trader places an order that’s executed immediately against an order already available in the order book — in other words, if a trader buys or sells using a market order. When a market order is completed, the volume is removed from the order book, thus taking liquidity from the market.

The taker fee on BITDAX.IO varies from 0.25% to 0.1% depending on your monthly trading volume.

You can find more details on how the trading fee is calculated on BITDAX.IO in our Help Centre.

Volatility is a measure of dispersion. It describes the degree of price fluctuation over a specific period.

Cryptocurrency is considered volatile if its price changes significantly within a day. The volatility of a coin is higher when the difference between the highest and lowest prices is big during a specific period.

The dynamic nature of cryptocurrencies gives the potential to benefit from price changes. Meanwhile, you need to understand the risks involved as the market moves quickly and can change the direction against your position/order.
A crypto wallet is a secure place where you store your crypto funds. Wallets are created using private and public keys.

With access to a crypto wallet, you can check your crypto balance and transaction history and move funds around the world using the blockchain. Funds stored in crypto wallets are protected from being stolen physically. However, every owner of a crypto wallet should care about its security, which includes keeping your password safe, enabling two-factor authentication if possible, and taking other measures.

There are several types of wallets you can use including online wallets, cold wallets, mobile wallets, hardware wallets, and desktop wallets. They vary in the way you can access them (over the internet or locally on your device) and their level of security.
A Withdrawal Pin Code, or WPC, is a special five-digit passcode that you need to use to confirm your withdrawals in the BITDAX.IO mobile app. You create your WPC when you make your first withdrawal via the BITDAX.IO mobile app. It is important to remember the code as you’ll need to enter it every time you make a withdrawal.