Confused by all those crazy terms? Dapp, Defi, fiat, LP, memecoin, KYC, mining?
Airdrop
When crypto holders are gifted additional crypto. Who doesnt love free stuff?
Altcoin
Any other cryptocurrency except for the original bitcoin
Blockchain
a system where transaction records done with cryptocurrency are maintained across multiple computers that are linked in a network
Cryptocurrency
Is a digital asset that is recorded on a blockchain or public ledger
DAG
A distributed acyclic graph is a more complex and advanced form of blockchain that turns every user into a node
Dapp
Short for decentralized app, it’s a computer program that runs on a blockchain and leaves an unchangeable record
Decentralized
A network that is not controlled by a single entity
Defi
Short for Decentralized Finance. Finance that is performed on a decentralized blockchain, performing banklike functions
Exchange
A place where digital currencies can be bought, sold, or traded. For example, if someone wanted to trade their dogecoin for the Binance coin, they could use an exchange
Fiat
Government-issued paper money
FOMO
Fear of Missing Out
Fork
A blockchain that breaks off from another blockchain.
FUD
Short Fear, Uncertainty, Doubt. Usually during a bear market
Hardware Wallet
A physical device resembling a USB stick that is designed to store cryptocurrency
Hodl
Hold on for dear life-a Hodler is a person who holds on for dear life. Did you hear about the man recently who drifted in the ocean for over 20 hours-now that’s a holder. It aslo refers to buying and holding crypto and not selling
ICO
Initial Coin Offering, just like an IPO for stocks. It is the sale of a new crypto, apparently not being done so much anymore due to government regulation
KYC
Short for Know Your Customer- banks and financial institutions are required to KYC to prevent money laundering. Most crypto exchanges now require this as well, so its decreasing the anonymous nature of crypto
Liquidity Pool
Not a swimming pool-we have enough of those in california. Its a pool of funds available for trading, helping to convert one crypto to another. For example, if pancakeswap has a liquidity pool of Dogecoin and BNB (Binance Coin), it allows traders to easily trade between those two cryptocurrencies.
Memecoin
Is a crypto currency that starts off as a joke, and has no purpose
Mining
Using your computer in a blockchain network, being rewarded with cryptocurrency
NFTs are digital assets with an authentic certificate created by blockchain technology. Examples are digital art or digital land
Node
A computer that is hooked up to a blockchain network
Private Key
Is a code which gives control over a crypto wallet
Proof Of Stake
A system where computers work together to decide which computer node validates the next block. It is much less energy intensive than POW
Proof Of Work
Proof of work is a decentralized mechanism where members of a network compete solving an mathematical puzzle to validate transactions and mine new tokens
Pump And Dump
When a group of individuals buys a large amount of crypto to artificially increase the price, then quickly sell the crypto at a profit
Smart Contract
Is a self executing contract whose code is part of a decentralized blockchain network, which can automatically fulfill the role of the contract. For example, allowing two traders to trade cryptocurrencies if certain conditions are met.
Stablecoins
are cryptocurrency whose value is pegged to something else, for example the US dollar
Token
Crypto coins have their own blockchain, crypto tokens are created on an existing blockchain. For example, ethereum has its own blockchain, thus is acyrpto coin. The binance token and shiba inu token run on the ethereum blockchain, thus they are cyrpto tokens
Whale
An investor who owns so much crypto, that when he or she trades, it can significantly affect the price of the crypto
Whitepaper
A written overview of a project
51% Attack
When someone gains control of more than 51% of mining power, and is able to take control of the network
Dr Kidwell, physician, business owner, and investor of 25 years
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