Lot concept in crypto: What is it?

In cryptocurrency, the term "lot" is used to refer to the unit of measurement of trading volume. A lot defines the amount of cryptocurrency a trader buys or sells in a single transaction.The size of a lot may vary depending on the platform or exchange on which the trade takes place. It can be represented in different units such as coins, tokens, or fractions of a cryptocurrency.

For example, if a trader purchases 1 lot of bitcoin, it could mean buying 1 bitcoin. If the lot size is 0.1 lot, it would correspond to buying 0.1 bitcoin.

Knowing the lot size is important in determining the amount of investment or trading capital required to make trades. It can also affect the level of risk and potential profit from trades.