Crypto terms you should know... Newbies guide
Been new into crypto can sometimes be frustrating if you are not used to the terms and language been used to describe certain things.
Just in case you are shy to ask from anyone like the way I was back then, here are a list some terms and their meaning, you can learn from this and I do hope you find it helpful.
Gas fee: Fee paid to validate a trade or transactions.
Moon : Period that is often believed that crypto price will rise exponentially
Rekt : this is a crypto term for Wrecked, meaning that an invested lost money, mostly a huge sum.
Hodl : Hold unto your dear lives, an abbreviation often used to advise investors to hold unto their tokens and not sell the dip
Bagholder: Someone holding unto a crypto token after it has gone on a wild pump and dump, an instance is when you hold unto a shitcoin.
Token: this is much different from a coin. Tokens are usually created on existing crypto blockchain.
Example of blockchain is etherium blockchain, while a token called Uni can be created under ether blockchain.
White Paper: Documents created to contain why a cryptocurrencies was created and what it is going to do/hope to achieve.
Coin: An asset that has its own blockchain eg, bitcoin and etherium blockchain
Market Cap : Total trading value of a crypto
Fiat ; This is the local currency issues by the government of individual state or country
Defi : Decentralized finance operating on its own independent of exchanges
DYOR : Do your own reseaech, this is used to encourage investors to make quality research about a token and be well informed before investing.
FUD : Fear Uncertainty Doubt, usually some activities, events or news that creates negative impacts in the crypto community
Bullish : The movement of crypto token price up
Bearish : Movement of price down
Staking : When tokens are stored to secure and validate transaction on a network.
Whale : this is a wealthy individual or company in crypto such that actions or decisions usually have effect in a crypto space, eh when they move a large amount of token in one transaction.
Cefi: Centralized finance, the used of exchanged like Binance for trading.
Stable coin : These are coins pegged to a dollar to make it stable and less volatile
ICO : Initial coin, this refers to the offering of a crypto token at cheap price in order to finance the crypto project.
ATH : The highest price a token has reach so far.
Farming : Mostly thesame as staking above.
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