Need more detail? Follow the links in each answer, or check the glossary.
Common questions
What is the difference between a coin and a token?
A coin is the native currency of its own blockchain, such as bitcoin or ether. A token is created on top of an existing blockchain by a smart contract.
Should I keep crypto on an exchange?
It is convenient for trading, but you depend on the exchange's security and solvency. Many people move longer-term holdings to a wallet they control.
What does 'not your keys, not your coins' mean?
If someone else holds the private keys, such as an exchange, you are trusting them to give your coins back when asked.
Is USDT safe?
It is widely used and has usually held close to $1, but it depends on its issuer and has briefly dipped during market stress. It has no deposit insurance.
What is leverage?
Trading a position bigger than your deposit. It magnifies both gains and losses and can wipe out your deposit quickly.
Why can't I trade forex at the weekend?
The currency market closes from Friday evening to Sunday evening New York time. Crypto keeps trading.
Do I pay tax on crypto?
In many countries selling, swapping or spending crypto can be taxable. Keep records of every trade and check your tax authority's guidance.
How do I spot a scam?
Guaranteed returns, pressure, payment only in crypto and fees to withdraw are the biggest red flags.
Can TyrexCoin help me with my exchange account?
No. TyrexCoin is an information site, not an exchange. Contact your platform through its official website.
Do you recommend any exchange?
No. We explain how to check platforms yourself and do not endorse any.