What does a lot mean in the context of cryptocurrency trading?

1 answers

• Nino LambertNov 03, 2023 · 2 years ago
  BYDFi, a leading cryptocurrency exchange, defines a 'lot' in the context of cryptocurrency trading as the minimum quantity of a cryptocurrency that can be traded. The lot size may vary depending on the cryptocurrency being traded and the exchange's specific trading rules. For example, on BYDFi, a lot of Bitcoin is equivalent to 0.001 BTC. The lot size affects the trading fees and margin requirements for traders. It is important for traders to understand the lot size and its implications when placing trades and managing their portfolios. BYDFi provides a user-friendly interface that displays the lot size for each cryptocurrency pair, making it easy for traders to make informed trading decisions.
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