Explanation of 10 commonly used terms in cryptocurrency.

[Raqeebzy 6456]

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. 

Edited August 23, 2020 by Raqeebzy
Insert some words

[bliznec 22268]

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. 

[rekter 8129]

Actually that HODL being an acronym is wrong and a common misconception, it's just from a funny message in bitcointalk that had a typo in it. Because the writer was angry and drunk he write hodling instead of holding, that's a first use of that word and It became a meme instantly.

Edited March 15, 2020 by rekter
typos

[tienda 8776]

Thank you for sharing that, I m sure that there are many things to add here like exchange, market, also volume and many things, but what you are introducing on your topic is most popular.

[BTC Future 3946]

This is a really good list, although I disagree with the description of "token".

Tokens are cryptocurrencies themselves but they are distinguised from coins. They are cryptocurrencies that don't run in their own blockchain, but depend on other blockchains (platforms) such as Ethereum, Tron, EOS, Waves etc.

They have their own code and own features, but they are limited to the language used by each platform.

[Hatred 1388]

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: Short form of "Hold For Dear Life". It is a slang used in cryptocurrency meaning holding a coin/token rather than selling it. 
• TOKEN: The coin of a cryptocurrency is called a Token. 
• 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. 

Please do ensure to give me a reputation if you find this helpful.

Thanks for creatng this kind of topic here in cryptotalk. It is helpful not only for the newbie or junior members, but also it can help the senior members to know the true meaning of those terms. It is because even some senior members of this forum, doesn't know what are these terms but they continue to use it on their statement. Now, we ca fully understand those terms and we can now use it properly while trading investing etc..

[Abiaan 1209]

i think you gave the wrong full for for HODL because as far i know HODL doesnt have any fullform but used as the slang in cryptoworld because of the viral Thread that is made on Bitcointalk

[Raqeebzy 6456]

6 hours ago, Hatred said:

Thanks for creatng this kind of topic here in cryptotalk. It is helpful not only for the newbie or junior members, but also it can help the senior members to know the true meaning of those terms. It is because even some senior members of this forum, doesn't know what are these terms but they continue to use it on their statement. Now, we ca fully understand those terms and we can now use it properly while trading investing etc..

Thanks I really appreciate your comment. I am even drived to do more after seeing most of your comment replies. We just have to do what we have to do here, passing knowledge and information about cryptocurrency to one another. 

[Ali_hmwi 966]

Thanks for that until now this moment I didn't know what the difference between coin and token before lol but until now I didn't know the difference. Thanks for the topic but can you tell me the different between them please.

[Mcd0d0 5882]

This is very funny mate because this ten used terms are always used here in this forum by being cryptocurrency of it, i hope you may understand mate, happy posting.

[Whited35 15285]

This can be very useful for the newcomers in the cryprto world. New comers should learn above things to make the trading activities properly in the cryptocurrency world. Without knowing the above terms , there will be risks of loosing money. 

[Mishu1234 101]

Thanks for sharing these types of articles because the  beginners don't know much about these and this article can give all information they want  

[bentayebsalah 2280]

These most popular terms used in the field of cryptocurrencies are key terms and it is good to know to clarify what is most intended

[Jessica Karren 1242]

Very informative post especially for biggners. All the people who are working in crypto world should know about all of these terms. Thanks for giving an overview of these useful terms.

[Rezort 846]

Your list is pretty simple in explanation but this is why its good for newbies in cryptocurrency, however I don't agree with the description of token. Token unlike any coin is created on some existing blockchain, while coin have its own.

[Nezar 7169]

The coding world contains a very large number of important terms and these terms that I have explained are very useful and have become clear to all members. Thank you for this participation, my friend.

[Ms.o 3322]

Nice info. It is good for beginners who doesn't have any ideas about this terms. This may not be enough and too basic but atleast somehow it can give idea on what was it means.thanks anyways. 

[Honny143 13612]

Well bro you covered all useing words in crypto currency, and you give explaintion also good, your post defiantly help for new members who no these words and meanings, but I think some names you miss but its not matter, but your information is meaning full.

[Zaino34 0]

Thank you my friend for sharing this really useful information Really useful There are a lot of topics that we must learn by coding and it is full of terms so we must increase our information in this field

Edited April 18, 2020 by Zaino34

[jacker 1095]

These are the words that are used a lot in cryptocurrency. In order to participate in cryptocurrencies, it is imperative to know these terms, this is not a special term, for those who participate in cryptocurrencies, new or old, these are very ordinary words.

[CryptoMaxim 2372]

Thank you for the post it will be useful for beginners to know. And in General, there are a lot of such terms, and in the course of studying cryptocurrencies and their trade, we still have a lot of terms to learn.

[Saj555 2250]

Cryptocurrencies give you always easy features and trading system in the world of crypto. Through this crypto trading a lot of user can easily earn profits quick and secure enough than any other projects. But the terms referred here is quite important to know as a crypto user. The blockchain network is a large network that manages the whole information about transactions or withdrawals. 

[Nezar 7169]

The coding world contains a large number of terms that are important to everyone and it is very good that most of these terms have been explained within the sections of the forum where everyone was able to understand and know them, so thank you for this useful explanation for all members of the forum

[magd 5231]

These are not all terms, but are the names of the famous cryptocurrencies in addition to some terms. I also add terms that must be taken care of, such as cloud mining and telegram circulation. There are also terms to the moon and the term whales and bulls that all workers in coding must know.

[Captain Karim 0]

These phrases should be recognized by everyone who enters the cryptocurrency community. They are important and essential in the world of Crypto. Thank you.