Vocabulary in the Cryptocurrency World
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Some of you may not understand some of the vocabulary in the world of Cryptocurrency, to play Cryptocurrency, of course you have to understand it. Here are some important vocabulary words to know.
1.Hodl: “Hold on for dear life“- hold your coins.
2. Bear Market/Bearish: Market is falling
3. Bull Market/Bullish: The market is rising
4. BlockChain: A growing list of records, called blocks, that are linked and secured using cryptography. Each block usually contains a cryptographic hash of the previous block, timestamp and transaction data.
5. Bitcoin: A very famous coin, also known as BTC.
6. Altcoins/Alts: Alternative coins. Coins other than BTC. For example: Ethereum, Ripple, Waves, etc.
7. Satoshi/Sats: Decimal share in cryptocurrency ( 1 BTC = 100,000,000 Satoshi)
8. Market Capitalization: Market Capitalization. (price) X (coins in circulation).
9. Hard Cap: The maximum amount that will be received by the crowdsale.
10. Low Cap: If an ICO wants to raise less funds then generally less than $20 million.
11. High Cap: If an ICO wants to raise more funds then it is usually more than $25 million.
12. FUD: Fear, Uncertainity, Doubt – Fear, Uncertainty, Doubt. Usually arises when there is bad news but the authenticity is still uncertain.
13. Fudder: People who like to spread bad news.
14. Shill/Shilling: Promote a coin on a coin to increase its resale value.
15. FOMO: Fear Of Missing Out – where is the fear of missing an update.
16. Shitcoins: Altcoins that have become worthless. The value of shitcoins can exist because they failed to materialize, the altcoins themselves were not created in good faith, or because prices are based on speculation.
17. Solid Coin: A good and reliable coin
18. Moon/Mooning: The coin price is being as high as a star (very high).
19. Mars: Coin prices will soar very high.
20.ATH: All Time High- The most expensive price from the date the coin was issued.
21. Whale: A person who has a lot of BTC.
22. Pump: Buy coins to increase the price.
23. Dump: Sell coins after the price increases.
24. Pump and Dump: Buy coins so the price goes up, so you can dump.
25. Bag Holder: A person who has bought a coin at a high price and has not had time to sell and it has become a shitcoin.
26. Long: The position a trader takes. To take a long position on something is to believe that it will increase in value in the future.
27. Shot: The position a trader takes. To take a short position in a coin is to believe that its value will fall in the future.
28. Limit order: A coin order placed at a future price to be executed when the target price is reached.
29. Borrowing rate: When you open a leveraged position, you will borrow coins at a pre-set rate. This value will be added to reflect the overall profit and loss of your position.
30. Lending rate: Some exchanges have a lending account, you can deposit coins into this lending account to lend your coins to others. In trading with leverage. Credit interest rates fluctuate throughout the day based on requests for coin shorting.
31. Circulating supply: The price of a coin has no meaning on its own. However, the price of a coin when multiplied by the circulating supply can give the coin's market capitalization.
32. ICO: Initial Coin Offering – Initial Coin Offering.
33. BTFD: Buy The F**** Dip – Buys a coin when the price is very low.
34. Weak Hands: Someone who sells coins at a loss when the market is down out of fear.
35. Airdrop: Coins/tokens are distributed to the community for free.
36. Binance: A digital money trading marketplace.
37. Huobi: Digital money trading market.
38. Kucoin: A digital money trading marketplace.
39. Bitfinex: A digital money trading marketplace.
40. Bittrex: A digital money trading marketplace.
41. Upbit:Digital money trading marketplace.
42. Token: Representation of a particular asset or utility, which usually resides on top of another blockchain. Tokens can represent basically any exchangeable and tradable asset, from commodities to loyalty points to other cryptocurrencies.
43. Mining: Mining.
44. MyEtherWallet: A digital wallet.
45. Wallet: A digital wallet to store Crypto coins.
46. Private Key: Password to enter the digital wallet.
47.Public Key/Wallet address: Digital wallet number. Can be likened to the account number at the bank. Example: 0xE348f88BGhgyyd3368643d473F04ABb5D.
48. Smart Contract: Smart contracts help you exchange money, property, stocks, cryptocurrencies or anything else of value in a transparent, conflict-free way by avoiding middleman services.
49. DYOR: Do Your Own Research. Do your own research.
50. IDEX: Digital money trading market.
51. White Paper: Proposals.
52. Road Map: Target/plan.
53. KYC: Know Your Customer – You must upload your identity, such as passport and selfie.
54.Whitelisted: Accepted/added to the list.
55.Cryptocurrency: Crypto money
56. Crypto phishing: Attempts to obtain crypto wallet information.
57. BTD: Buy The Dip. Buying a coin whose price has dropped drastically.
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