Kimchi Premium
By CoinGecko | Updated on Aug 13, 2021
The kimchi premium is the price difference between South Korean exchanges and other global exchanges for bitcoin. The price of bitcoin on a South Korean exchange may be higher than on the US or European platform. Some investors would attempt to benefit from the kimchi premium arbitrage by trading the price differences that occur across various exchanges.
Related Terms
Miners
Contributors to a blockchain taking part in the process of mining.
Byzantine Fault
A byzantine fault is where an error has occured, yet a computer system does not know due which component/what failed to the lack of information and continues to iterate on a given instruction.
Dump
A common term used to describe downward market movement, or to describe the action of selling an individuals holdings.
Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
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