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Latest Cryptocurrency Terminologies You Should Know by Sigggy: 2:38pm On Sep 01, 2021 |
As the world is tending to the Era of cryptocurrencies, a knowledge of terms and meanings in the crypto space is paramount. [url][/url] compiled some common terminologies used in the crypto space in other to acquaint our readers. They include : 1. WALLET – This is an online store(you can call it crypto bank) where you store your cryptocurrencies. 2. EXCHANGE – This is an online arena where you can harness coins, buy, trade and sell them. 3. ADDRESS – are numbers and alphabet which you can use to receive or send tokens(you can call it crypto bank account number). 4. ALTCOIN – This is any coin that is not Bitcoin. 5. TOKEN – simply means coin 6. STABLE COIN – a coin that is linked to the value of something like the dollar which makes it’s price not to fluctuate 7. GAS FEE- a fee you pay for Cypto transactions(ie buying or selling). 8. REKT – simply means wrecked. When you lose all your money, going bankrupt due to trading. 9. MOON – when the price of a coin has a massive increase(to the moon). 10. HODL – Simply means HOLD or Store. meaning to buy a coin and store it for profit making. 11. P2P – Peer to Peer enables transaction between two beings without a middleman 12. FOMO – Fear Of Missing Out is when you are wordous that if you don’t buy a coin when others are, you may regret later. 13. BULLISH – when a coin is moving in a positive direction. Just like earlier discussed moon. 14. BEARISH – movement in a negative direction. Downward(price reduction). 15. TAKE PROFIT – selling or swapping, or converting or withdrawing part of or all of your money on a particular coin after making profit. 16. STOP LOSS – Setting a point where you want to take out your money,in case a trade goes against you. 17. TARGET – determining how much profit you want to make on a particular trade. 18. FARMING – donating your coins for a particular period of time while you receive rewards for doing so. 19. AIRDROP – a campaign strategy on a new coin to attain vogue. 20. ALL TIME HIGH(ATH) – when a coin gets to a new High price for the first time. 21. ALL TIME LOW – New low price for the first time. 22. BAG – if you hold (hodl) a huge amount or numbers of a coin, you have a bag of it. 23. DIP – when a coin price is moving downward, reducing in price. Professionally a 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 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 do a research on a coin by mostly news. 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. 31. DO YOUR OWN RESEARCH(DYOR) – Means you should make your personal findings about a coin, whether through fundamentals or technicals. With the above terminologies, you will no longer be a novice in the crypto space. Hope it was helpful!!! https:///latest-cryptocurrency-terminologies-you-should-know/ 1 Like
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Re: Latest Cryptocurrency Terminologies You Should Know by Sigggy: 2:40pm On Sep 01, 2021 |
Enjoy! |
Re: Latest Cryptocurrency Terminologies You Should Know by Simdyofficial(f): 4:15pm On Sep 01, 2021 |
Thanks. God bless you.. I am planning on starting this Crypto stuff. Just that babes no wan loss money oo.. Still studying though. Op you made my day.. Kiss kiss |
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