CRYPTOCURRENCY TERMS AND MEANING

Altcoin – A cryptocurrency other than Bitcoin

Aml – Anti money laundering

Arbitrage – Taking advantage of a market price differences across different exchanges

Ath – All time high. This implies the highest market price of a cryptocurrency

Backup phrase – Random words which can be used to restore a wallet

Bagholder – A trader with a huge amount of cryptocurrency

Bear/bearish – Market downtrend

Block – A digital file the contains transactions records

Blockchain – A decentralized open ledger that cannot be manipulated

Bull/bullish – Market uptrend

Cex – Centralized exchange

Coin – A cryptocurrency built on its own blockchain. An example is Bitcoin

Consensus – Nodes network agreement

Cryptocurrency – A censorship resistance digital form of money

Cryptography – Encoding or decoding an information

DDoS – Distributed denial of service. This happens when a service is overwhelmed by parties in agreement

Dex – Decentralized exchange

Distributed ledger – A perfect example of the blockchain

Dump – Price down due to heavy sell-off

Escrow – A trusted third party involved in peer to peer transactions

Fiat – Paper money

Exchange – A marketplace where cryptocurrency trading takes place

Fomo – Fear of missing out

Fork – A blockchain alteration to create a new blockchain with shared history

Fud – Fear, uncertainty and doubt

Hodl – Hold on for dear life

Ico – Initial coin offering

Ieo – Initial exchange offering

Kyc – Know your customer

Long – To speculate market uptrend

Marketcap – Total market value of a cryptocurrency or cryptocurrencies

Mining – To validate transactions for incentives

Moon – Market uptrend

Noob – An inexperienced crypto newbie

Pow – Proof of work

Pos – Proof of stake

Private key – A string of numbers and letters which can be used to access a wallet directly

Public key – A string of numbers and letterd which can be used to receive cryptocurrency. This is also known as a wallet address

Pump – Price up due to fomo or heavy buying activities

Rekt – To lose money on a trade due to heavy dump

Roi – Return on investment

Satoshi (sats) – A unit of Bitcoin

Short – To speculate market downtrend

Token – A cryptocurrency built on an external blockchain. An example are ERC20 tokens

Vc – Venture capitalist

Whale – A very rich crypto trader that involves in large transactions

White Paper – A downloadable document containing information about a blockchain project

 

 

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