Altcoin – Cryptocurrency that is not Bitcoin. Short for “alternative coin”.
Bitcoin – Bitcoin is the first and largest cryptocurrency by market capitalization launched by an anonymous person or group of people under the name Satoshi Nakamoto in 2008.
Blockchain – Originally designed as the accounting method for tracking Bitcoin transactions, blockchain is a distributed database that allows a network of computers to agree on the order and legitimacy of transactions without a central authority. This system creates an unalterable record of all activity on the network, which can be used to track ownership, protect against fraud and more.
Bear market – An extended period of falling prices.
Bull market – An extended period of rising prices.
Dapp – Short for “decentralized application”. It is like a digital app that uses blockchain technology.
DeFI – Short for “decentralized finance,” a collective term for a variety of financial applications in cryptocurrency or blockchain with the aim to removing financial intermediaries.
Dogecoin – The native cryptocurrency of the Dogecoin blockchain. A popular blockchain project created around a viral internet meme of a Shiba Inu dog.
Ethereum – The world’s second-largest cryptocurrency by market capitalization. The network is called Ethereum and the actual currency is called Ether.
FIAT – A term for any government-issued currency.
FOMO – Short for “fear of missing out”. It is commonly used in the cryptomarket to describe a psychological condition that affects traders who are worried about missing out on potential profits.
FUD – Short for “fear, uncertainty, doubt”. It is a term used in the cryptocurrency market to describe negative or misleading statements about a project or its team that create fear, uncertainty, and doubt in investors and potential investors.
Gas – It is the fee paid in Ether used to execute a transaction or contract on the Ethereum network.
Halving – It is the process of halving the mining block rewards for a particular cryptocurrency. For bitcoin, these are programmed to occur every four years.
HODL – A misspelling of “hold” and common crypto slang term used to promote or describe the idea of never selling Bitcoin or any other cryptocurrency.
Mining – The process that verifies and adds new data to a blockchain ledger.
NFT – Short for “non-fungible token”. NFTs represent a unique digital version of a multitude of products.
Smart contract – A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.
Token – A token is a digital asset that is used as a medium of exchange on a cryptomarket. Tokens are created through a process called “tokenization,” which involves the creation of a new blockchain or the use of an existing blockchain to issue tokens.
Wallet – A wallet is a digital or physical container that stores cryptocurrency.
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