Crypto Slang, Crypto Lingo & Terms to know
Cryptocurrency slang [Crypto Slang] simply means, the way investor communicates with each other to better understand the market, in this article we will try to explain the meaning of each one of them so you not going to be confused.
Cryptocurrency
Currency that is decentralized and digital. Often called crypto for short it’s used to buy and sell things. Also used as a store of value like BITCOIN.
Coin
A coin represents a store of value that lives on a given blockchain or cryptocurrency network. Sometimes blockchains have the same name for both the network and the coin such as BITCOIN.
Blockchain
Record keeping in a digital form for cryptocurrency technology. It is the result of sequential blocks that build upon one another to create a permanent and unchangeable ledger of transactions.
Bitcoin
The first and most valuable cryptocurrency launched on Jan. 3rd, 2009, that uses peer-to-peer technology to send instant payments digitally.
Cold Wallet / Cold Storage
Cold wallet is A very secure method of storing crypto COMPLETELY offline. Also known as hardware wallets they often resemble a USB drive. These devices can help protect your crypto from theft.
Altcoin
An altcoin is any coin that’s not Bitcoin. When it comes to alt coins most investors stick to large mainstream cryptocurrencies as an investment.
Decentralization
When power is distributed away from a central hub. Blockchains are decentralized when there is a requirement of majority approval from ALL users to operate or make changes, rather than a central authority.
Exchange
A cryptocurrency exchange is a digital marketplace where you can buy and sell cryptocurrency.
Gas Fees
Fees paid by users on networks like Ethereum to compensate for the computing energy required to process and validate transactions.
HODL
NOW stands for “Hold on for Dear Life” though the term originated from
a user typo of “HOLD” on a Bitcoin forum in 2013.
FOMO
FEAR OF MISSING OUT – This is what novice investors do when they see
HUGE run ups in the market. STAY AWAY from FOMO in crypto!
Halving
Halving is Code written into Bitcoin’s DNA that halves the amount of NEW Bitcoin entering circulation after a certain number of blocks are mined. (Usually every FOUR years). NOTE: Usually has a DRAMATIC impact on Bitcoin’s price to the upside.
Initial Coin Offering (ICO)
Initial Coin Offering is A way that funds are raised for a new cryptocurrency project. ICOs are
similar to Initial Public Offerings (IPOs) of stocks.
Market Cap
Market Cap is the total value of all the coins mined. By multiplying the current
number of coins by the current value of the coins you can calculate a crypto’s market cap.
Stable coin
A stable coin is a cryptocurrency with a fixed value. Major stable coins peg their values to major world currencies like dollars, euros, pounds, and other fiat currencies.
Smart Contract
Programs stored on a blockchain that run when predetermined conditions are met. Often used to automate the execution of an agreement so all participants can be immediately certain of the
outcome.
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