Crypto Lingo for you Beginners.... Learn them Now!!!!!!!

in cryptocurrency •  4 months ago


Below are common terms you may hear and see in the crypto world, we hope this helps you to get a better understanding of cryptocurrency.

Address
Usually referring to the identifier code in which you would send or receive cryptocurrency, here is an example of a Bitcoin address - 3GPcKwB3UGML4UiYqZM6BYx7Nu5Dj7GKDD

ATH
All Time High

Altcoin
A name for cryptocurrency coins that are not Bitcoin.

Atomic Swap
Atomic swaps or atomic cross-chain trading, is the exchange of one cryptocurrency to another cryptocurrency, without the need to trust a third-party.

Blockchain
The digital ledger technology which allows cryptocurrencies to function securely.

Exchange
The online platform/website where you can both purchase and sell cryptocurrencies. Popular exchanges include Coinbase, Bittrex and Bitstamp.

Fork
When a cryptocurrency splits in two resulting in an old and new version, essentially the blockchain gets split. There are hard forks and soft forks, a hard fork is meant to create two blockchain/coins and a soft fork is meant to result in one. An example of a hard fork would be Bitcoin cash.

FUD
A three letter abbreviation for "Fear, Uncertainty and Doubt". This is a disinformation strategy that predates cryptocurrency.

Hashrate
The speed at which a block is discovered and the rate at which the related math problem is solved.

HODL
A purposefulmisspelling of the word Hold, signifying a sentiment of holding your crypto for a long term sell off for bigger profits. Also, represents the phrase "Hold on for Dear Life"

ICO
Initial Coin Offering

Mining
Mining is the term used for discovering and solving blocks along the blockchain. A mining reward is given for solving the algorithm and lengthening the chain. The mining reward for the Bitcoin blockchain is Bitcoin.

Price Correction
A reversal of price, usually negative, to adjust for an overvaluation. Price corrections happen very often in the cryptocurrency market.

Wallet
Refers to the wallet in which you store your cryptocurrency, there are different types of wallets such as a hardware wallet, paper wallet and software wallet

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