General Terms in the Cryptocurrency World
1. Blockchain
The underlying technology that underpins cryptocurrency. It is a decentralized digital ledger that permanently records all transactions.
2. Wallet
A digital wallet for storing cryptocurrency. Consists of two types:
Hot Wallet: Connected to the internet (more practical, but less secure).
Cold Wallet: Not connected to the internet (safer, suitable for large storage).
3. Private Key
A secret key used to access and control crypto assets. Never share it with anyone.
4. Public Key / Address
An open address used to receive crypto assets. Like a bank account number.
5. Exchange
A platform to buy, sell, and exchange crypto. Examples: Binance, Coinbase, Bybit, Tokocrypto.
6. Altcoin
Short for 'Alternative Coin'. All coins other than Bitcoin, such as Ethereum, Solana, Cardano, etc.
7. Stablecoin
Crypto whose value is pegged to stable assets like the US dollar. Examples: USDT, USDC, BUSD.
8. DeFi (Decentralized Finance)
A financial service ecosystem that does not rely on third parties like banks, but uses smart contracts on the blockchain.
9. NFT (Non-Fungible Token)
Unique tokens that represent ownership of digital assets, such as digital art, games, or other collectibles.
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📊 Terms in Crypto Trading
10. Bullish
Market condition where the price of crypto is predicted to rise.
11. Bearish
Market condition when the price of crypto is predicted to fall.
12. FOMO (Fear of Missing Out)
Fear of missing out, usually causing someone to buy when prices are sharply rising.
13. FUD (Fear, Uncertainty, and Doubt)
Negative information spreading in the market, causing fear and driving down prices.
14. HODL
Slang term for 'Hold'. It means to keep crypto for the long term, not selling when prices drop.
15. ATH (All Time High)
The highest price ever reached by a coin in its history.
16. ATL (All Time Low)
The lowest price ever reached by a coin.
17. Pump and Dump
A strategy to pump the price of a coin massively and then sell it quickly for profit, which subsequently causes the price to fall.
18. Whale
Large holders of crypto who can influence market movements.
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⚙️ Technical and Technology Terms
19. Smart Contract
Automatic contracts on the blockchain that run according to a program without third parties.
20. Gas Fee
Transaction fees on the blockchain network (especially Ethereum). The more congested the network, the higher the gas fee.
21. Mining
The process of verifying transactions and creating new blocks on the blockchain, performed by computers with high computational power.
22. Staking
Locking a certain amount of crypto assets in the network to earn rewards, similar to bank interest.
23. Airdrop
Free distribution of tokens/coins to users as promotions or rewards.
#AirdropAlert #BinanceSquareFamily $BNB
