You Must Know Before Entering,
Cryptocurrency Trading.
1. WALLET
This is an online wallet (you can call it purse) where you store your coins. Example is trust wallet.
2. EXCHANGE
This is an online platform where you can buy, trade and sell coins.
Example is Binance, Kucoin, and MEXC etc.
3. ADDRESS
Address are numbers and alphabet which you can use to receive or send tokens. ( It works like your account number).
4. ALTCOIN
This is any
coin that is not Bitcoin. Example is Ethereum, XRP etc.
5. TOKEN
Token is a Cryptocurrency that is functioning under the supervision of a
coin's blockchain.
6. STABLE COIN
A coin that is tied to the value of something like the dollar which
makes it's price not to fluctuate
7. GAS Fee
A fee you pay for transaction or execution of smart contracts,
commonly used in Ethereum and Binance Smart Chain
8. REKT
REKT simply means wrecked. When you lose all your money or most of your money while trading.
9. MOON
When the price of a coin has a positive movement.
10. HODL
Its full
meaning is Hold Onto Deal Life, to buy a coin and hold it for long time in
other to make profit.
11. P2P
Peer to Peer
enables transaction between two entities without a middleman
12. FOMO
Fear Of Missing Out is when you are worried if you don't buy a coin when
others are, you may regret later.
13. BULLISH
When a coin is moving in a positive direction. Just like moon.
14. BEARISH
A Coin movement in a negative direction. Downward.
15. TAKE PROFIT
Selling or swapping, or converting or withdrawing part of or all of your
money on a particular coin after making profit.
16. STOP LOSS
Applying a point where you want to take out your money to a stable coin
after losing part of money.
17. TARGET
Deciding how much profit you want to make on a particular trade.
18. FARMING
Staking your coins for a particular period of time while you receive
rewards for doing so.
19. AIRDROP
A campaign
strategy on a new coin to gain popularity.
20. ALL TIME
HIGH
When a coin gets to a new price for the first time.
21. ALL TIME
LOW
New low price
for the first time.
22. BAG
If you hold a huge amount or numbers of a coin, you have a bag of it.
23. DIP
When a coin
price is moving downward. Good time to buy.
24. 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.
25. DYOR
Do Your Own Research.
26. ESCROW
A middleman
in a transaction.
27. FIAT
FIAT is Government owned currencies that are in cryptocurrency. Example
USD, Euro, NGN.
28. FUNDAMENTAL
ANALYSIS
This simply
means to do a research on a coin.
29. LIQUIDITY
The liquidity
of a cryptocurrency is defined by how easily it can be bought and sold without impacting the overall market price.
30. WHALE
A term used to describe extremely wealthy investors or traders who have enough funds to manipulate the market or hold large numbers of a coin.
If you want to learn more about such Terminologies, feel free to leave your valuable comment. We are happy to assist you. All the best for your future.
0 Comments