BEP-20 is a token standard on Binance Smart Chain that extends ERC-20, the most common Ethereum token standard. You can think of it as a blueprint for tokens that defines how they can be spent, who can spend them, and other rules for their usage. Due to its similarity to Binance Chain’s BEP-2 and Ethereum’s ERC-20, it’s compatible with both.BEP-20 was conceived as a technical specification for Binance Smart Chain, with the goal of providing a flexible format for developers to launch a range of different tokens. These could represent anything from shares in a business to dollars stored in a bank vault (i.e. a stablecoin).
Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. It usually requires fiat exchanged at a CEX or through local means such as Bitcoin ATMs to be able to purchase cryptocurrency with fiat currency.
Slippage refers to the difference between the expected price of a trade and the price at which the trade is executed. Slippage can occur at any time but is most prevalent during periods of higher volatility when market orders are used. It can also occur when a large order is executed but there isn't enough volume at the chosen price to maintain the current bid/ask spread.
Timing risk is the speculation that an investor enters into when trying to buy or sell an asset based on future price predictions. Timing risk explains the potential for missing out on beneficial movements in price due to an error in timing.