Monday, October 18, 2021

Latest Crypto Terminologies 2021-Updated

Latest Crypto Terminologies 2021-Updated

As the world is tending to the Era of cryptocurrencies, a knowledge of terms and meanings in the crypto space is paramount.

edugistblog 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.

Latest Crypto Terminologies 2021-Updated

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.

Latest Crypto Terminologies 2021-Updated

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 crypto terminologies, you will no longer be a novice in the crypto space.

Hope it was helpful!!!

Follow edugistblog for more educative updates!!

meeky clicker
I am meeky clicker, I blog for education and tech. A crypto enthusiast and a Technology lover.
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