ALL OF THE PARAPHRASES, SLANG TERMS AND WORDS THAT WERE USED IN CRYPTO SPHERE (PART 2)
Continuation of the previous list (Part 1).
1. ATH
All-Time High. The highest price that a certain crypto ever reaches.
2. ATL
All Time Low. The lowest price that a certain crypto ever reaches.
3. Dip
A certain crypto is declining in price. You will hear some investors say, ‘buy the dip’. That means you buy while the crypto price is going down.
4. Peg
A certain price target that a token is trying to maintain. Usually, this ‘peg’ term implies to stablecoin.
5. Wallet address
A string of letters and numbers from which cryptocurrency of NFTs can be sent to and from.
6. Private key
An alphanumeric code used in cryptography that is similar to a password. In cryptocurrency, private keys are used to authorize transactions and prove ownership of a blockchain asset.
7. Cold storage or cold wallet
An offline cryptocurrency storage, like a hardware wallet.
8. Crypto exchange
Works similarly to a stock exchange, which helps investors to buy and sell cryptocurrency.
9. Hash
A function that meets the encrypted demands needed to secure information.
10. Fork
A technical phenomenon that occurs when a blockchain splits into two separate branches.
11. Node
A single computer which can interact with and is part of a blockchain network.
12. Consensus
A system that validates a transaction and marks it as authentic.
13. Tokenomics
A study of the supply, demand, distribution, and valuation of cryptocurrencies. It also includes everything from issuance, burn mechanism, utility, and more.
14. Ecosystem
A network of digital platforms and technologies that enable users to transact with crypto. For example, the crypto wallet.
15. Hot wallet
A wallet that is always connected to the internet that allows you to store, send, and receive cryptocurrencies and NFTs.
16. Crypto token
Another way to say cryptocurrency.
17. Market cap
Market capitalization. It was calculated by multiplying the total number of coins or tokens in the circulating supply by the current market price. Cryptocurrency ranking is usually determined by market cap.
18. Max supply
The total maximum supply for a certain crypto.
19. HODL
Hold On For Dear Life or a typo for HOLD. Basically, it is a strategy that involves buying and holding onto your cryptocurrencies for an extended period. Usually, until the bull market or until the cryptocurrencies reach the target price.
20. Pump and dump
Pump happens when a lot of buying occurs, and a dump happens when a lot of selling occurs on a certain crypto. Beware that a certain crypto is vulnerable to pump-and-dump schemes. It happens when a scammer buys an inexpensive coin from the market and pumps it. Then, they start hyping it up by advertising it on certain social media. Once people start buying that crypto, the scammer will sell all of the money, leaving most of the investors that fall into their trap and lose all of their money.
(End of part 2, stay tuned for part 3)
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