CRYPTOCURRENCY TERMS WITH THEIR MEANING

CRYPTOCURRENCY TERMS WITH THEIR MEANING

✔️ALTCOIN = Any Cryptocurrency other than Bitcoin.

✔️ASHDRAKED = A situation where you lost all your money.

✔️BAGHOLDER = A person who buys and holds coins in large quantities hoping to make good profits in the future.

✔️BEAR / BEARISH = Negative price movement.

✔️BTFD = Buy the Fucking Dip (an indication to buy a coin when it has been dumped so hard)

✔️BULL / BULLISH = Positive price movement.

✔️ILDILDO = Long green or red candles.

✔️DUMP = To Sell off a coin.

✔️DUMPING = Downward price movement.

✔️DYOR = Do Your Own Research.

✔️FA = Fundamental Analysis.

✔️FOMO = Fear Of Missing Out (A coin is pumping and you get the feeling it’s gonna pump more, so you buy high)

✔️FUD = Fear Uncertainty & Doubt.

✔️HODL = Hold / Hold in position.

✔️JOMO = Joy of Missing Out.

✔️LONG = Margin bull position.

✔️MCAP = Market Capitalization.

✔️MOON = Continuous upward movement of price.

✔️OTC = Over The Counter.

✔️PUMP = Upward price movement.

✔️SAJ CANDLE = Huge green candle.

✔️SHITCOIN = A coin with no potential value or use.

✔️SHORT = Margin bear position.

✔️SWING = Zigzag price movement (Upwards and downwards).

✔️TA = Technical Analysis.

✔️REKT = When you have a bad loss.

✔️REVERSE INDICATOR = Someone who is always wrong predicting price movements.

✔️TECHNICAL INDICATOR = Technical indicator is a mathematical calculation based on historic price, volume, or (in the case of futures contracts) open interest information that aims to forecast financial market direction.

✔️MA = Moving average (indicator)

✔️EMA = EXPONENTIAL MOVING AVERAGE (indicator)

✔️SIRSI = Relative Strength Index (indicator)

✔️ACMACD = Moving average Convergence, Divergence (indicator)

✔️WHALE = Very Wealthy trader / Market mover. A person with a big share in a particular crypto asset.

✔️FIAT currency = Government-issued currencies that are not backed by anything physical. Fiat are normal money Like Naira (NGN), US dollar (USD), European Currency (EUR), etc.

✔️BLOCKCHAIN ​​= is the underlying technology of Cryptocurrency that keeps the system secure.

✔️BLOCK = Set of blocks that make up a blockchain. Within each block are a series of transactions, if we buy or sell that will be recorded in form of a block?

✔️ DECENTRALIZED = In Cryptocurrency, decentralized means that there is no central point of the network. It’s spread over a series of users, that’s Peer-to-peer.

✔️ PEER-TO-PEER = A connection between two or more computers. In the case of Cryptocurrency, these would be nodes.

What makes peer-to-peer so unique to Cryptocurrency and blockchain is that there is no middleman between transactions. Example: Musa Bought a Smart chain from Adam. we can see Musa and Adam perform the transaction without anybody between them, must just send his address to Adam and Adam sent the smart chain directly. so that’s Peer-to-peer (P2P)

✔️ CENTRALIZED = opposite of decentralized, centralized means that there is a central point.

✔️PROOF OF WORK (PoW) = One of the most common algorithms in Cryptocurrency. It requires miners to mine blocks to validate transactions.

✔️OF PROOF OF STAKE (PoS) = another highly common algorithm that requires users to stake some of their Cryptocurrency to validate transactions.

✔️SMART CONTRACTS = are essentially digitalized contracts that are executed on the blockchain between different parties.

✔️AMA = Ask me anything. Usually a voice chat between the project team and the Project Community in the sense of asking and answering questions.

✔️DAPPS = Stands for ‘decentralized application’, these are applications that are not centralized and work on top of the blockchain. They provide Peer-to-peer interaction between users.

✔️WALLET = One of the most common Cryptocurrency terms, a virtual wallet where people store their Cryptocurrency to keep it safe. any place where you keep your coins/tokens is known as a wallet.

✔️ADDRESS = an identifier typically made up of alphanumeric characters that signify where Cryptocurrency will be sent. Eg. GADJWBESHQ713628WHDGAJDBA26391HAV23.

✔️PUBLIC KEY = This is the key that you share with people so you can receive Cryptocurrency, You can call it to address too.

✔️PRIVATE KEY = This is what you use to access your wallet where you store your Cryptocurrency, It’s like your Account password on Centralized exchanges like Binance or your passphrase on your Defi wallets like Trust wallet.

✔️COLD STORAGE = this is when people store their private keys offline away from the Internet, so they won’t get stolen.

✔️HARDWARE WALLET = A wallet that usually takes the form of a small physical device. Hardware wallets are perhaps the safest way to store your Cryptocurrency. it’s a small device like Flash.

✔️ICO = Stands for ‘Initial Coin Offering’, which is where a new Cryptocurrency will give away some coins at a discounted rate in return for another Cryptocurrency, such as Bitcoin.

✔️IEO = Stands for ‘Initial Exchange Offering’ is a fundraising event for a Cryptocurrency exchange, where users purchase coins that can be used on an exchange.

✔️TOKEN = A token is the underlying digital asset of the Cryptocurrency that can be used to make transactions or pay for other functions. Any Crypto that doesn’t have its Blockchain is called a Token.

✔️COIN = A crypto asset that has a Native Blockchain. Like BTC, BNB, ETH, etc.

✔️STABLE COIN = A Cryptocurrency that is supposedly tied to the value of something else, such as the US dollar, to make it more stable and less volatile in price swings. the example is USDT, USDC, BUSD, etc.

✔️ PUMP-AND-DUMP = this is a scam where people – usually the creators who own a large share – encourage others to buy their Cryptocurrency to artificially pump the price. Stay away.

✔️MOON = If a Cryptocurrency is ‘going to the moon, it means that people believe it will rise exponentially in price.

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