These are the most terms you will hear around here so let me explain them to you.Address : This is were you send/receive coins.Altcoin : Anything that isn't a Bitcoin .ATH : All time high of a coins price in USD.BearRun : When the market crash soo hard you sleep with a heartache.Blocks : No not those in Minecraft, these blocks are records of everything that happens like transactions etc.Blockchain : Its a chain of lots of blocks all records that ever happened are stored here.Bullrun : When market go high in the sky.DCA : Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase.Cryptocurrency : You already know otherwise why are you on this subreddit.Decentralized : No central authority, no more bosses.Fiat : Real life money minted by governments.Exchange : Where people buy high and sell low like Binance.FOMO : Fear of missing out, slang used when someone wanna do what everyone is doing.Fork : When the developers of a coin change its protocol/rules.Fee : A small amount of a coin you pay when making a transaction .Gas : Same as fee but way higher, used when talking about eth smart contracts.HODL : Hold on for dear life, a slang used when you hold a coin cause you believe in it.KYC : Know you customer, some services require this from you so make sure your id have a nice selfie.Long : Betting that a coin will rise in value.Market cap : Total market Value.Mining : Miners get rewarded for using their PCs or asic miners to mine new blocks on the blockchain.Mnemonic Phrase : is a 12/24 words that holds all your assets, keep it safe.Mooning : Used when you think a specific coin will increase a lot in value and you say to the moon.POW : Proof of work, new blocks are generated by the miners and the network verifies it.POS : Proof of stake, new blocks are mined according to how many coins you got, the more the better the rewards.Private key : Every coin has a private key, who owns this key can access the coins, so keep it safe.Pump and Dump : A term used when a group of whales hype up a coin to trick noobs into buying it then they sell once it hits a nice high.Rekt : When a trader loses alot of money on trading.ROI : Return on investment, when you buy a coin and hope to get profit from it.Short : Betting that a coin will drop in value.Stablecoin : Coins that are pegged to the USD.Swap : When you instantly swap any 2 coins based on market value.Token : They are created on existing blockchains like Eth, an eth address can hold unlimited amount of tokens.Whale : Is someone with a high amounts of a coin.probably missed some terms.
Submitted February 11, 2021 at 07:14PM
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