30 CryptoCurrency Terms You Supposed know

CryptoCurrency Terminology: In this article we are going to explain not less than 30 CryptoCurrency terms mostly used every day.

30 COMMON WORDS USE IN CRYPTO INDUSTRY

1. WALLET – This is an application or software that allows crypto users to house their currency (you can call it purse) where you store your coins. Example is trust wallet.

2. EXCHANGE – This is an online platform where you can buy, trade and sell coins. Example is Binance.

3. ADDRESS – are series of numbers and alphabet which you can use to receive or send tokens.( It works like your account number).

4. ALTCOIN – This is any coin that is not Bitcoin. Example is Etherum, XRP,,, etc.

5. TOKEN – it is a Cryptocurrency that is functioning under the supervision of a coin’s blockchain.

6. STABLE COIN – a coin that is tied to the value of something like the dollar which makes its the price not fluctuate

7. GAS – a fee you pay for transaction or execution of smart contracts, commonly used in Etherum and Binance Smart Chain

8. REKT – simply means wrecked. When you lose all your money or most of your money while trading.

9. MOON – when the price of a coin has a positive movement.

10. HODL – drunken spelling of HOLD meaning to buy a coin and hold it to make a profit.

11. P2P – Peer to Peer enables a transaction between two entities without a middleman

12. FOMO – Fear Of Missing Out is when you are worried if you don’t buy a coin when others are, you may regret it later.

13. BULLISH – when a coin is moving in a positive direction. Just like the moon.

14. BEARISH – movement in a negative direction. Downward.

15. TAKE PROFIT – selling or swapping, or converting or withdrawing part of or all of your money on a particular coin after making a profit.

16. STOP LOSS – applying a point where you want to take out your money to a stable coin after losing part of the money.

17. TARGET – deciding how much profit you want to make on a particular trade.

18. FARMING – staking your coins for a particular period while you receive rewards for doing so.

19. AIRDROP – a campaign strategy on a new coin to gain popularity.

20. ALL-TIME HIGH – when a coin gets to a new price for the first time.

21. ALL TIME LOW – New low price for the first time.

22. BAG – if you hold a huge amount or number of a coin, you have a bag of it.

23. DIP – when a coin price is moving downward. Good time to buy.

24. DApp – A computer program that utilizes a blockchain for data storage, runs autonomously, is not controlled or operated from a single entity, is open source,e and has its use incentivized by the reward of fees or tokens?

25. DUMP – selling all you have of a particular coin.

26. ESCROW – a middleman in a transaction.

27. FIAT – government-owned currencies that are in cryptocurrency. Example USD, Euro, NGN.

28. FUNDAMENTAL ANALYSIS- This simply means to research a coin.

29. LIQUIDITY – The liquidity of a cryptocurrency is defined by how easily it can be bought and sold without impacting the overall market price.

30. WHALE – A term used to describe extremely wealthy investors or traders who have enough funds to manipulate the market.

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