Crypto Terms

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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