REVIEWS

TERMS USED BY CRYPTOCURRENCY TRADERS

TERMS USED BY CRYPTOCURRENCY TRADERS

Altcoin: An alternate coin, that is not Bitcoin.
Blockchain: An online management system that stores information on all cryptocurrency transactions.
Circulating Supply: The price of a coin has no meaning on its own. However, the price of a coin when multiplied by the circulating supply will give the coin’s market cap.
DApp: A decentralized application that runs on a peer-to-peer computer network.
Genesis Block: The first block created in a blockchain.
HODL

: A misspelling of ‘hold’ that stuck around to mean ‘keep’. A crypto-trader who buys a coin and plans to keep it for the foreseeable future is called a holder of the coin.
JOMO: Short form for ‘joy of missing out. It’s the feeling that people have when they miss out on making a decision, which would have turned out badly.
KYC
: Short form for ‘know your customer’. The requirement that businesses must know the identity of their customers.
Ethereum: A decentralized software platform for smart contracts.
FUD: Short form for ‘fear, uncertainty, and doubt’. Used when somebody is spreading FUD about a coin.
QR Code: Short form for ‘quick response’ barcodes which can be encoded with data.
REKT: Short form for ‘wrecked’ used to describe a bad loss after a trade.
SHILL: The act of unsolicited endorsing of the coin in public. Traders who bought a coin have an interest in shilling the coin, in hopes of igniting the public’s interest in that particular coin.
Orphaned Block
: A valid block that is not a part of the blockchain. These are created when miners create valid blocks at a similar time.
Pump and Dump: Pump and dump is a scheme that attempts to boost the price of a stock through recommendations based on false, misleading, or greatly exaggerated statements.
Limit Order: An order placed at a future price that will execute when the price target is hit.
Market
Cap: In the cryptocurrency market, the market cap is the total supply of a coin multiplied by the current price. It is used to illustrate a coin’s dominance in the entire cryptocurrency market.
Node
: An interface that handles communication and private keys between wallets, on the Bitcoin network.
Token: The ‘coin’ of a cryptocurrency can be bought, sold, and owned.
UTXO
: Short form for ‘unspent transaction output’.
Virtual: Occurring or existing mostly online.
Whale: A huge player who has a substantial amount of capital. Whales are often the market movers for small altcoins due to their huge capital. They are believed to manipulate the market.
XBTC
: The ticker for Bitcoin. All cryptocurrency tickers start with X.
Zero Confirmation Transaction: An unconfirmed transaction.
MyScholarshipBaze

I love surfing the web and providing great information for my readers. I am an Editor At Myscholarshipbaze.com

Recent Posts

How to avoid chasing your true love away

How to avoid chasing your true love away without knowing it Sometimes people normally destroyed…

2 hours ago

Facts about Efik Ethnic Group

Facts about Efik Ethnic Group The Efik people are predominantly found in southern Nigeria and…

6 hours ago

Facts about Egun Tribe

Facts about Egun Tribe The Egun are people who live primarily in Badagry, Lagos, and…

9 hours ago

Facts about Egbede (Igede) Tribe

Facts about Egbede (Igede) Tribe The Igede people are an ethnic group primarily found in…

12 hours ago

Facts about Ogba-Egbema-Ndoni

Facts about Ogba-Egbema-Ndoni Ogba–Egbema–Ndoni (sometimes spelled Ogba/Egbema/Ndoni) is a Rivers State Local Government Area (Old…

18 hours ago

Tai Solarin University School Fees 2023

Tai Solarin University School Fees Scheme for the 2023/2024 Academic Session Tai Solarin University school…

20 hours ago