Explanation of 10 commonly used terms in cryptocurrency.

[Ummah97531 615]

Yes, basically!  As a beginner I don't know much about the crypto world.  So I am trying to increase my knowledge about cryptocurrency and crypto trading from this forum.  Yes indeed!  I think your post has increased my knowledge.  This post is also very effective for other posters.

[setifien 1016]

Good topic, let me add this definition of NFT tokens

NFT : non fungible tokens (ERC721), a very recent generation of cryptographic tokens, what characterizes them is that they are not interchangeable  

[DreamStage 2105]

Thank you for that usefull information regarding common expressions being used at Cryptocurrencies scene.

It will certainly help out some new users into their environment.

 

You could also add something like Arbitrage and other terms that are not used outside exchanges.

 

For instance Arbitrage is when someone gains profit by buying at some exchange and selling at other due to price differences.

[abd1992 960]

On 3/15/2020 at 10:45 AM, Raqeebzy said:

I decided to post this to let us know the meaning of some terms used in cryptocurrency.

• BLOCKCHAIN: It is a public ledger of all bitcoin transactions that has been processed in a chronological order 
• BTC: Just as US Dollars is denoted by $ symbol. 10bitcoin can be represented as 10btc
• FAUCET: A service that typically gives free bitcoins by watching some advertisement or filling out survey etc. 
• FIAT CURRENCY: Normal everyday currency like the US Dollars, the Euros, Pounds etc
• SATOSHI: Named after Nakamoto Satoshi. It represents the smallest sub unit of bitcoin. 100000000Satoshi makes a Bitcoin 
• WALLET: A bitcoin wallet is equivalent to a normal wallet which you can keep your bitcoin. Each wallet has its own specific address attached to it. 
• HODL: It was first used by a member in the famous BTT forum when he attempted to spell hold, he later admitted it was due to state he was (tipsy) . It wasn't Hold For Dear Life as many would say but still it isn't incorrect. 
• TOKEN: Tokens are cryptocurrency but are different from a coin because they do not have their own blockchain. They run on existing ones.
• BITCOIN: The very first cryptocurrency created in 2008 by an individual or group under the name Nakamoto Satoshi.
• ALTCOIN: Bitcoin is the first and the most successful of all the cryptocurrency. All other coin apart from bitcoin are grouped together under the category of Altcoins. 

You can visit FINDER.COM for more of these. 

I think that studying basic terms in the world of cryptography is a good thing in order for a person to be good at crypto, we must research and learn more to know more.

[Raqeebzy 6456]

49 minutes ago, abd1992 said:

I think that studying basic terms in the world of cryptography is a good thing in order for a person to be good at crypto, we must research and learn more to know more.

Yeah. It will prove vital in cryptocurrency practice. 

Certain things need to be known and fully understand to be very safe in it; few of it mentioned above, make sure you do more research and findings about this and a couple of others more. 

 

And btw, you don't have to quote the whole thread to avoid the topic looking spamming. You can just quote some part or summon to call attention using @ followed by the username or the user. 

[Abuhassan 89]

On 3/15/2020 at 9:45 AM, Raqeebzy said:

I decided to post this to let us know the meaning of some terms used in cryptocurrency.

• BLOCKCHAIN: It is a public ledger of all bitcoin transactions that has been processed in a chronological order 
• BTC: Just as US Dollars is denoted by $ symbol. 10bitcoin can be represented as 10btc
• FAUCET: A service that typically gives free bitcoins by watching some advertisement or filling out survey etc. 
• FIAT CURRENCY: Normal everyday currency like the US Dollars, the Euros, Pounds etc
• SATOSHI: Named after Nakamoto Satoshi. It represents the smallest sub unit of bitcoin. 100000000Satoshi makes a Bitcoin 
• WALLET: A bitcoin wallet is equivalent to a normal wallet which you can keep your bitcoin. Each wallet has its own specific address attached to it. 
• HODL: It was first used by a member in the famous BTT forum when he attempted to spell hold, he later admitted it was due to state he was (tipsy) . It wasn't Hold For Dear Life as many would say but still it isn't incorrect. 
• TOKEN: Tokens are cryptocurrency but are different from a coin because they do not have their own blockchain. They run on existing ones.
• BITCOIN: The very first cryptocurrency created in 2008 by an individual or group under the name Nakamoto Satoshi.
• ALTCOIN: Bitcoin is the first and the most successful of all the cryptocurrency. All other coin apart from bitcoin are grouped together under the category of Altcoins. 

You can visit FINDER.COM for more of these. 

I have learnt new things from the aforementioned acronyms and frequently used terms in crypto currency as for HODL is refered to as hold meaning that to hold a coin for a period of time once again thanks for the awesome information.

[Mr.Rayan 2]

Thanks for this post, but the tokens are cryptocurrencies in themselves, but they differ from coins.  They are cryptocurrencies that do not run on their own blockchain, but rely on other blockchain (platforms) such as Ethereum, Tron, EOS, Waves, etc.

[RoyalHouse01 9]

it is great that you have explained these terms as they are the one that are been used most of the time and you can not say that they are not useful and not worth making a topic with them.

[Zeshan Khalid 2577]

This is a very useful post because most of the members that are new to this forum struggle to understand the cryptocurrency because of these terms. Explaining these terms to them can make it easier for them to learn about cryptocurrency.

[Raven 7817]

On 3/15/2020 at 4:45 PM, Raqeebzy said:

I decided to post this to let us know the meaning of some terms used in cryptocurrency.

• BLOCKCHAIN: It is a public ledger of all bitcoin transactions that has been processed in a chronological order 
• BTC: Just as US Dollars is denoted by $ symbol. 10bitcoin can be represented as 10btc
• FAUCET: A service that typically gives free bitcoins by watching some advertisement or filling out survey etc. 
• FIAT CURRENCY: Normal everyday currency like the US Dollars, the Euros, Pounds etc
• SATOSHI: Named after Nakamoto Satoshi. It represents the smallest sub unit of bitcoin. 100000000Satoshi makes a Bitcoin 
• WALLET: A bitcoin wallet is equivalent to a normal wallet which you can keep your bitcoin. Each wallet has its own specific address attached to it. 
• HODL: It was first used by a member in the famous BTT forum when he attempted to spell hold, he later admitted it was due to state he was (tipsy) . It wasn't Hold For Dear Life as many would say but still it isn't incorrect. 
• TOKEN: Tokens are cryptocurrency but are different from a coin because they do not have their own blockchain. They run on existing ones.
• BITCOIN: The very first cryptocurrency created in 2008 by an individual or group under the name Nakamoto Satoshi.
• ALTCOIN: Bitcoin is the first and the most successful of all the cryptocurrency. All other coin apart from bitcoin are grouped together under the category of Altcoins. 

You can visit FINDER.COM for more of these. 

Bitcoin, satoshi, and btc for me is just the same. Base on your post it is almost the same but in fact it is really the same, right? I don't what to confuse myself on thinking of different perspective about bitcoin so I decided to reply this. It is just for me, just an opinion.

[Biojay 2080]

There are many term used in cryptocurrency and some are

Fiat currency- normal physical currency.

Crypto currency- digital currency use for exchange.

Btc- Bitcoin which is the first cryptocurrency.

Satoshi- name of the inventer of BTC currency, and Satoshi coin is named after him and 10000000 Satoshi make a BTC.

Hodl- Hold for dear life.

Ltc- litecoin

 

[Amir bhai 464]

I am agree with you and your post is so informative for me because i knew about bitcoin blockchain wallet etc but many things are new for me so this is so informative and i get lots of information due to your post. 

This forum is really good for earning and getting new information about online trading. 

[entrepreneur 634]

Thanks, this can be very useful for beginners and even for advanced members, because we are here to learn and assimilate new information.

 

Also, try to learn the crypto's symbol for each one of them, you can find them on coinmarketcap

[Nupeboy 627]

Thank you for listing the meaning of some term used in cryptocurrency am sure with this most of us don't get to know the full meaning but with this now we are able to know the full meaning so thank you once more

[Altaf hussain 269]

On 3/15/2020 at 1:45 PM, Raqeebzy said:

I decided to post this to let us know the meaning of some terms used in cryptocurrency.

• BLOCKCHAIN: It is a public ledger of all bitcoin transactions that has been processed in a chronological order 
• BTC: Just as US Dollars is denoted by $ symbol. 10bitcoin can be represented as 10btc
• FAUCET: A service that typically gives free bitcoins by watching some advertisement or filling out survey etc. 
• FIAT CURRENCY: Normal everyday currency like the US Dollars, the Euros, Pounds etc
• SATOSHI: Named after Nakamoto Satoshi. It represents the smallest sub unit of bitcoin. 100000000Satoshi makes a Bitcoin 
• WALLET: A bitcoin wallet is equivalent to a normal wallet which you can keep your bitcoin. Each wallet has its own specific address attached to it. 
• HODL: It was first used by a member in the famous BTT forum when he attempted to spell hold, he later admitted it was due to state he was (tipsy) . It wasn't Hold For Dear Life as many would say but still it isn't incorrect. 
• TOKEN: Tokens are cryptocurrency but are different from a coin because they do not have their own blockchain. They run on existing ones.
• BITCOIN: The very first cryptocurrency created in 2008 by an individual or group under the name Nakamoto Satoshi.
• ALTCOIN: Bitcoin is the first and the most successful of all the cryptocurrency. All other coin apart from bitcoin are grouped together under the category of Altcoins. 

You can visit FINDER.COM for more of these. 

This is a really good list, thank you for sharing this list. There are many things to add like exchange, market also volume and many things. 

[Khan 1414]

On 3/15/2020 at 2:36 PM, bliznec said:

My favorite name is Hodl. Keeping and storing cryptocurrency is the only way to be in profit. I add that Hodl is used by investors and traders. 

Holding will return good profit on the bitcoin, LTC, ETH and Doge as well as XRP, those are the coins that can easily return good profit but it will take few years to get the proper profit on investment..

[Goyaa 2414]

Thanks for the information. As people who are already in the crypto world, we must know the basic terms in the world of cryptocurency. Especially if we are on a cryptotalk forum, we must understand this term because it is often used in cryptotalk forums. Knowing the terms in the crypto world will make it easier for us to get all kinds of information related to the crypto market and the crypto world.

[Amna Hareem 1213]

On 3/15/2020 at 1:45 PM, Raqeebzy said:

I decided to post this to let us know the meaning of some terms used in cryptocurrency.

• BLOCKCHAIN: It is a public ledger of all bitcoin transactions that has been processed in a chronological order 
• BTC: Just as US Dollars is denoted by $ symbol. 10bitcoin can be represented as 10btc
• FAUCET: A service that typically gives free bitcoins by watching some advertisement or filling out survey etc. 
• FIAT CURRENCY: Normal everyday currency like the US Dollars, the Euros, Pounds etc
• SATOSHI: Named after Nakamoto Satoshi. It represents the smallest sub unit of bitcoin. 100000000Satoshi makes a Bitcoin 
• WALLET: A bitcoin wallet is equivalent to a normal wallet which you can keep your bitcoin. Each wallet has its own specific address attached to it. 
• HODL: It was first used by a member in the famous BTT forum when he attempted to spell hold, he later admitted it was due to state he was (tipsy) . It wasn't Hold For Dear Life as many would say but still it isn't incorrect. 
• TOKEN: Tokens are cryptocurrency but are different from a coin because they do not have their own blockchain. They run on existing ones.
• BITCOIN: The very first cryptocurrency created in 2008 by an individual or group under the name Nakamoto Satoshi.
• ALTCOIN: Bitcoin is the first and the most successful of all the cryptocurrency. All other coin apart from bitcoin are grouped together under the category of Altcoins. 

You can visit FINDER.COM for more of these. 

Dear thank you so much for this kind information because  also want to know about some things like I don't know about altcoin and i become confused whenever i see this thing because i don't know about it and also faucet so your post made it so easy for me and I know about this so literally I like your post and thanks again.

[Raqeebzy 6456]

7 hours ago, Sadia Batool said:

Dear mate thanks for this information to tell us about the meaning of many words. Because I am a new member and the new member do not know the meanings of words. But know I know that what is the meaning of bitcoin and token and a wallet. Thanks for this information. You have tell all about the faucets and alt coins also.

Welcome mate. For a beginner, I believe to go deep into cryptocurrency and to engage in a community like this and bigger ones, there is need to understand some things and some keywords to be not left out. There is quite a lot. Understand a few and as time goes on, you will be introduced to other ones naturally.

[koynayak 1923]

These are very important informations for newbies and begginers, but there are more terms that they should know, like bull, rekt, bear,whale etc. They can find those common terms on internet. If they want to improve their knowledge about crypto they need to learn those simple terms.

[godislovefll 1880]

And now we could say that you could also add Airdrops and NFT that are trend now for this world since through them new people come and know the great world of cryptocurrencies so airdrops are a means of much publicity for cryptocurrencies.

[Serbberq 724]

Thanks for sharing, thia information will help allot to know more about the cryptocurrency terms, which we can add to our knowledge and the forum have serve it purpose for spreading crypto knowledge around the world. 

[jappy 1129]

This is something that is good, people will always come this way and it is something that little by little will determine the popularity with which people will come as airdrops and faucets that many people already work for them.

[Bruno52 1141]

These are a very important group of terms that are used in the crypto world almost all the time and so this post is essential for anyone both experienced and beginning in the crypto world.

[ibrahim halil anaç 138]

Thank you for your useful sharing. I hope we will see more of these kinds of information sharing.