Here is some crypto terms for beginners 😁
- Crypto (Cryptocurrency): Digital or virtual currency secured by cryptography, running on blockchain technology. Examples: Bitcoin (BTC), Ethereum (ETH).
- Trade: Buying or selling cryptocurrencies on an exchange like Binance to profit from price changes.
- Stake: Locking up crypto in a blockchain network to earn rewards, like interest, while helping secure the network (e.g., staking ETH).
- HODL: A slang term meaning to hold onto your crypto long-term, ignoring short-term price fluctuations. Stands for "Hold On for Dear Life."
- Blockchain: A decentralized, secure digital ledger recording crypto transactions across many computers.
- Exchange: A platform (e.g., Binance) where you can buy, sell, or trade cryptocurrencies.
- Market: The overall crypto trading environment where prices fluctuate based on supply and demand.
- Wallet: A digital tool (software or hardware) to store, send, and receive cryptocurrencies securely.
- Token: A type of crypto built on an existing blockchain (e.g., ERC-20 tokens on Ethereum), unlike coins which have their own blockchain.
- DeFi: Decentralized Finance; financial services (like lending or trading) built on blockchain without traditional intermediaries.
- Bull/Bear Market: Bull = rising prices, optimism; Bear = falling prices, pessimism.
