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Cryptocurrency Terms You Need To Know - Investment - Nairaland

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Cryptocurrency Terms You Need To Know by GistsNaija247: 9:11pm On Jun 28, 2022
Hi Guys, I thought of sharing this Crypto terms you need to know in cryptocurrency world. I know we will learn one or more from this crypto glossary.

Every cryptocurrency coin has a unique address that identifies where it sits on the blockchain. It’s this address, at which the coin’s ownership data is stored and where any changes are registered when it is traded. These addresses differ in appearance between cryptocurrencies but are usually a string of more than 30 characters.

This is a marketing campaign that refers to the expedited distribution of a cryptocurrency through a population of people. It usually occurs when the creator of a cryptocurrency provides its coin to low-ranked traders or existing community members in order to build their use and popularity. They are usually given away for free or in exchange for simple tasks like sharing news of the coin with friends.

Mathematic instructions coded into and implemented by computer software in order to produce a desired outcome.

All Time High
The highest price ever achieved by a cryptocurrency.

All Time Low
The lowest price ever achieved by a cryptocurrency.

Bitcoin was the first and is the most successful of all the cryptocurrencies. All the other coins are grouped together under the category of altcoins. Ethereum, for example, is an altcoin, as is Ripple.

Acronym for “Anti-Money Laundering”

Anti-Money Laundering
These are a set of international laws that hope to prevent criminal organizations or individuals from laundering money through cryptocurrencies into real-world cash.

Application Specific Integrated Circuit

A piece of computer hardware – similar to a graphics card or a CPU – that has been designed specifically to mine cryptocurrency. They are built specifically to solve hashing problems efficiently.

There are multiple exchanges at any given time trading in the same cryptocurrency, and they can do so at different rates. Arbitrage is the act of buying from one exchange and then selling it to the next exchange if there is a margin between the two that is profitable.

If you need to more on crypto glossary, crypto trends and market , you can read more on here -- https://bitmama.io/blog/cryptocurrency-glossary/

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Re: Cryptocurrency Terms You Need To Know by Chukatabra: 7:07am On Apr 14
I was very lost too hearing things like HODL, FOMO and the likes... This article helped explain everything in details though:


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