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Crypto Term – Must Learn First

Important Point to be remember;

 

Bitcoin is first digital cryptocurrency. It is a type of  digital asset  where transactions can run without the need for a credit card or central bank. Bitcoin is made for people, of people and by people. Cryptocurrency is community made , not issued by Government but somewhat regulated by them in few Country. Anyway, Bitcoin have changed the life. Bitcoin is designed in such a way as to make it easier for users to make trading transactions faster, simpler and more efficiently using the internet network.

 

Crypto Address:

Send or Receive of Cryptocurrency on wallet address .A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. A cryptocurrency address can be shared publicly in the form of text or QR code to those who want to send you cryptocurrency.

Altcoin: 

All other coin than bitcoin are known as Altcoin, like Litecoin, Dogecoin and Binance coin etc.

Arbitrage: 

A practice of taking advantage of differences in price of the same commodity in two or more markets or exchanges. An price difference of token or coin on two different exchanges.

Cold Wallet: 

A cryptocurrency wallet that is in cold storage, i.e. not connected to the internet.

Confirmations: 

A transaction is only confirmed when it is included in a block on the blockchain, at which point it has one confirmation. Different exchanges require a different number of confirmations to consider a cryptocurrency transaction final. For example, BCH need 12 confirmations on Coinbase.

All-Time-High (ATH): 

The highest price that a cryptocurrency has been in history. 

All-Time-Low (ATL): 

The lowest price that a cryptocurrency has been in history.

Cash: 

Cash is physical form of a currency.

API: 

API stands for Application Programming Interface. It is a set of routines, protocols, and tools for building software applications.

Bag: 

A significant quantity of a specific cryptocurrency. 

Holder: 

A person who holds large quantities of a cryptocurrency. 

Bear: 

A person who is pessimistic about market prices and expects them to decline. Who loves market in down state. This person is also known to be “bearish” about the market or price. 

Bear Trap:  

A technique played by a group of traders, aimed at manipulating the price of a cryptocurrency. The bear trap is set by selling a large amount of the same cryptocurrency at the same time, fooling the market into thinking there is an upcoming price decline. In response, other traders sell their assets, further driving the price down. Those who set the trap then release it, buying back their assets at a lower price. The price then rebounds, allowing them to make a profit.

Bitcoin ATM (BTM): 

Same like Fiat ATM. A machine from which you can withdraw Bitcoin.

Satoshi (Sats) or Bits (Bts):

A sub-unit of one bitcoin. There are 1,000,000 sats or bits in one bitcoin.

Blockchain: 

A blockchain is a continuously growing, append-only, list of records called blocks, which are linked and secured using cryptography.

Block Explorer: 

A place where you can view all transactions.

Block Height: 

The number of blocks preceding the block in question on the blockchain, or can be thought of as total blocks in the chain before this point.

Decentralized Applications (dApps): 

Safe and can’t be hacked. A type of application that runs on a decentralized network, avoiding a single point of failure.

Decentralized Exchange (DEX): 

A peer-to-peer exchange that allows users to buy and sell cryptocurrency and other assets without a central intermediary involved.

Margin Call: 

When an investor’s account value falls below the margin maintenance amount. 

 
Blockchain Technology is need of time. Let’s adapt it and ride with safe and fast growing technology.
 
A lot to know and lot to discuss.
Let’s have a great day. Thanks for reading!

 

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