33 COMMON WORDS YOU HEAR CRYPTOCURRENCY INVESTORS USE DAILY.
NB: I tried to explain them in plain English for easy understanding.
- WALLET – This is an online wallet(you can call it purse) where you store your coins. Example is BRANDO and TRUST WALLET.
- EXCHANGE – This is an online platform where you can buy, trade and sell coins. Example is Brando or Binance.
- ADDRESS – are numbers and alphabet which you can use to receive or send tokens.
- ALTCOIN – This is any coin that is not Bitcoin. Example is Etherum, XRP, BDC etc.
- TOKEN – simply means coin
- STABLE COIN – a coin that is tied to the value of something like the dollar which makes it’s price not to fluctuate
- GAS – a fee you pay for transaction, commonly used in Etherum because of it’s high gas fee
- REKT – simply means wrecked. When you lose all your money or most of your money while trading.
- MOON – when the price of a coin has a positive movement.
- HODL – drunken spelling of HOLD meaning to buy a coin and hold it to make profit.
- P2P – Peer to Peer enables transaction between two entities without a middleman
- FOMO – Fear Of Missing Out is when you are worried if you don’t buy a coin when others are, you may regret later.
- BULLISH – when a coin is moving in a positive direction. Just like moon.
- BEARISH – movement in a negative direction. Downward.
- TAKE PROFIT – selling or swapping, or converting or withdrawing part of or all of your money on a particular coin after making profit.
- STOP LOSS – applying a point where you want to take out your money to a stable coin after losing part of money.
- TARGET – deciding how much profit you want to make on a particular trade.
- FARMING – staking your coins for a particular period of time while you receive rewards for doing so.
- AIRDROP – a campaign strategy on a new coin to gain popularity.
- ALL TIME HIGH – when a coin gets to a new price for the first time.
- ALL TIME LOW – New low price for the first time.
- BAG – if you hold a huge amount or numbers of a coin, you have a bag of it.
- DIP – when a coin price is moving downward. Good time to buy.
- 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.
- DUMP – selling all you have of a particular coin.
- ESCROW – a middleman in a transaction.
- FIAT – government owned currencies that are in cryptocurrency. Example USD, Euro, NGN.
- FUNDAMENTAL ANALYSIS – This simply means to do a research on a coin.
- LIQUIDITY – The liquidity of a cryptocurrency is defined by how easily it can be bought and sold without impacting the overall market price.
- WHALE – A term used to describe extremely wealthy investors or traders who have enough funds to manipulate the market.
31.DEFICONNECT
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