What is a pip in cryptocurrency trading?

Pips are the units used to measure price movement in cryptocurrencies, and they correspond to a one-digit change in price at a given level. In general, valuable cryptocurrencies are traded at the 'dollar' level, thus a price change of a single pip from $190.00 to $191.00, for example, would be considered significant. Some lower-value cryptocurrencies, on the other hand, are traded on multiple scales, with a pip ranging from a cent to a fraction of a cent.

Before you place a trade, make sure you read the instructions on your selected trading platform to ensure you understand the level at which price movements will be measured.