Ultimate Crypto Resource Guide
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cRYPTO Glossary
Explore essential terms and concepts in the world of cryptocurrency, blockchain, and trading
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Annual Percentage Rate (APR)
Annual Percentage Rate (APR) is the amount of interest a borrower must pay each year on a loan or credit card balance.
Explanation of Specific Terms:
- Interest: The cost of borrowing money, expressed as a percentage of the loan or credit card balance.
- Borrower: The individual or entity receiving the loan.
- Periodic interest rate: The interest rate charged on the loan or credit card balance over a specific period, such as monthly or quarterly.
- Number of periods: The frequency with which the periodic interest rate is applied over the course of a year.
Key Points for Beginners:
- Why it's important: APR helps borrowers understand the total cost of borrowing money, including both interest and fees, over a year.
- How it works: Lenders calculate APR by multiplying the periodic interest rate by the number of periods in a year that the rate is applied. It provides a standardized way to compare loan offers from different lenders.
Valdis Zhvaginsh
Crypto Enthusiast, CWT Editor
Hello, I'm Valdis
When I began exploring cryptocurrencies, I had many questions. Over time, I've gathered some of the best resources that helped me, and I believe they can be useful to you as well.
I hope these resources assist you in starting your journey into the world of cryptocurrencies and provide useful tools for everyday tasks.
If you have any suggestions or corrections, please contact me
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