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Gas

Gas is a unit used on the Ethereum blockchain to measure the computational effort required to execute transactions and smart contracts. It’s the fee paid by users to miners to process and validate their transactions or execute smart contracts.

In trading, the gas price can affect the profitability of trading bots. When the gas price is high, transaction fees can eat into profits or render some trades unprofitable. Therefore, trading bots need to take into account the current gas prices when executing trades on the Ethereum blockchain to optimize profits. Some bots may even be designed to wait for lower gas prices before executing trades to maximize profitability.

  • Index
    An indexAn index related to cryptocurrency trading is a tool that is used to track the performance of a group of cryptocurrencies. It is designed to... More related to cryptocurrencyCryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies use decentralized technology called blockchain... More […]
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  • One Cancels the Other Order (OCO)
    OCO (One Cancels the Other) order types are a commonly used feature in cryptocurrencyCryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies use decentralized technology called blockchain... More trading that allows traders to set up two orders simultaneously, with one being cancelled as soon […]
    Full definition
  • BEP-2
    BEP-2BEP-2 is a token standard on Binance Chain, which is a blockchain platform created by the cryptocurrency exchange Binance. BEP-2 tokens are used to represent... More is a tokenA cryptocurrency token is a digital asset that is created and managed on a blockchain network. Tokens are usually created using existing blockchain platforms, such... More standard […]
    Full definition

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