Explanation of 10 commonly used terms in cryptocurrency.

[iloveyobit 6599]

There are many complex terms in the crypto field that make the field more difficult, especially for new traders in it, thank you for explaining some of these terms and I think this will make things easier for them.

[CryptoDemon 370]

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. 

We should really spread the words of those guys who really wants to help the beginner because there are some complicated words that beginner doesn't know and might give them a trouble.

[Tine0313 3053]

This is really helpful for those who new in Crypto field. I have so much learned things here until today because of this kind of information publish. My favorite one is hodl, at first i didn't know what it means because i thought it has another meaning.

[Ridam 7455]

Well this information is must to know for the newbies into the Crypto field. And these terms aren't limited as there are many others terms used in Crypto field like resistance, support, bullrun, bullish, bearish etc. If you make further post mentioning other different terms it would be awesome. And i really appreciate your effort for this.

[Mwangi 5611]

Okay thanks a lot for this but the right thing would be to really keep everything working according to the base of information gathered and this can be some of the best thing to do with it , the right thing also to do is to make sure that you are working as hard to understand every term you have there 

[Irungu 4299]

Learning new things everyday , s very important to keep on trying to understand each , the work of this terms is to simplify the trading itself and in the end it is going to be the easiest thing to do here online so we work as hard to prove we have something very important to work with and the effort to  it

[Raqeebzy 6456]

3 hours ago, Ridam said:

Well this information is must to know for the newbies into the Crypto field. And these terms aren't limited as there are many others terms used in Crypto field like resistance, support, bullrun, bullish, bearish etc. If you make further post mentioning other different terms it would be awesome. And i really appreciate your effort for this.

I agree there are some other important terms, even more than a hundred; I just mentioned a few of them I could probably remember at that moment. However I provided a link in the topic, you are promised to find more than you can ask for; do ensure to check on it. Thanks.

[Mcd0d0 5882]

17 hours ago, Ridam said:

Well this information is must to know for the newbies into the Crypto field. And these terms aren't limited as there are many others terms used in Crypto field like resistance, support, bullrun, bullish, bearish etc. If you make further post mentioning other different terms it would be awesome. And i really appreciate your effort for this.

Well, that's true mate, these are the basic information about cryptocurrency that they can learned first so that this is very important for them because in this forum, there's a lot of member which are always using this kind of terminologies.

[Swapzone 174]

These are the most popular terms these days. Many people should know these words!

[BrolySSJ 7899]

This is a very good post and i think that this will be very helpful for beginners and those that are just joining the crypto world, because it will teach them some of the important terminology that is used in most, if not all posts in bitcoin forums. I think that the one that i was unaware off was the difference between a coin and a token until recently upon reading a post such as this one, and this has really cleared that up for me. Hopefully beginners are able to make the most of this post as well. 

[Solex 2262]

This is very important topic i must confess because now i have got to know the meaning of some terms in cryptoworld which I never knew before and I hope most of the newbies come across this because it will help them understand crypto more easily.

[TimopheyKa 3900]

Thank you very much for this information! I believe that such posts should be in the top of the first, and fixed. So that newcomers as soon as they visit the site - immediately learn and learn what the blockchain system is, and what it stores and represents! Good luck.!

[Izeal 4404]

On 3/15/2020 at 2:30 PM, Raqeebzy said:

• 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.

These are terms which I don't know while I enter in the crypto market but later on I got these words in every news and article then I searched on the internet and know the meaning and the topic you have shared in very informative and mostly it is helpful for the new beginners in the cryptocurrency.

[Alimhana930 1605]

The terms are many and multiple It is created by users And traders alike For example, bulls and bears indicate rise and fall And the term whales for someone who owns a huge amount of currency can affect its price.

[sarahmoses202020 251]

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. 

You have really taken time to explain all of these. It is a very good post because a lot of people are only seeing these words but don't know their meaning. This is definitely an eye opener and when we see these words elsewhere we will be able to recognize them 

[Raqeebzy 6456]

20 hours ago, sarahmoses202020 said:

You have really taken time to explain all of these. It is a very good post because a lot of people are only seeing these words but don't know their meaning. This is definitely an eye opener and when we see these words elsewhere we will be able to recognize them 

Thanks for that and glad you gained one or two more things. I will be willing to make more similar good contributions on here, stay tuned. And please don't forget to make use of the attached link, it contains some more terms you will be willing to know about.

[Mella 3680]

Thank you my dear very good explaining and I am heard some of these but I did not know all or what they are meant, so you made a great effort to help beginner and I am grateful to you for this good post. Now these are very basic but it is what the beginner need to learn and you are given them in a simple way that makes it easy for all to understand what these mean.

[khan22 3478]

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. 

I like the ALT coins becasue the ALT coins will give us good profit than the BTC becasue if any ALT coin price is high and it cross the BTC value we can sell it at that time and make good profit like we buy the 20 types of ALT coins and hold that till the bull and when the bull is come minimum 5 types of coins give us huge profit at that time.

[Raqeebzy 6456]

8 hours ago, khan22 said:

I like the ALT coins becasue the ALT coins will give us good profit than the BTC becasue if any ALT coin price is high and it cross the BTC value we can sell it at that time and make good profit like we buy the 20 types of ALT coins and hold that till the bull and when the bull is come minimum 5 types of coins give us huge profit at that time.

Have you heard of the term "Alt season"?. I think you might need to find out. Alt season, I believe is the only term majority of alt coins rise and becomes more profitable against USD and Bitcoin. Altcoins are best alternative for short term trading but never are for HODLing or "gives more profit than BTC".

[P A Ashif 2409]

You have chosen many good words. And I think those who are commenting below it should add some more words.

Trading: its a term which have the same meaning that is we use in commercial market. Buy and sell of coin and earning profit from it is called trading.

Holding: its is the term which is related to trading. Here a traders buy coin when its price is less and hold it long and when the price of coin is suitably high he sell it.

Decentralized: every time you hear about crypto then a term is attached with it I.e decentralized. Crypto is transaction is not control by anyone. Only you want to know the wallet address and then sent. No intermediate between them. 

[Alex9876r 1408]

For these terms are necessary and essential for the trader or novice to know them, and also there are other terms such as bull and bearish as well as bull and bear, both of which indicate rise and fall, respectively.

[SuperCrypto 7193]

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.

Good list. There are many terms used in the world of crypto that seem strange at first glance to newcomers to this world. I remember in my early days in trading I wondered about the meaning of short and long operations. Until some friends explained it to me. It is difficult to limit all the terms in one post, but these words will become familiar to you after reading many useful articles in this field.

[Raqeebzy 6456]

Gracias @SuperCrypto. I think everyone faces such during first times of doing crypto, it is normal and even now, some are still confusing I am must admit but one have to be smart enough to be aware and educate oneself if you don't want to lost in conversations.

PS: Make sure you satisfy yourself with the provided link.

 

[Maaz sultan 265]

Your are right the new users need to understand these terminologies in the crypto world , If someone says these the new user dont know what is he try to say but after learn these terminologies, Not a problem .

[Digital 387]

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. 

Thanks for this reminder , no doubt the aforementioned crypto terms are the widely terms that is mostly used by people who engage in crypto currency but most of them don't really knows the real meaning of this terms above.