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WHAT IS BITCOIN?
Bitcoin (₿) is a decentralized digital currency, with no central bank or single administrator, that can be transmitted from user to user on the peer-to-peer bitcoin network without intermediaries.
WHAT ARE ALTCOINS?
Altcoins are cryptocurrencies other than Bitcoin (BTC). Altcoins is a collective term for all digital currencies forked from Bitcoin (whether or not through Ethereum). You can also invest or trade in these altcoins just like with Bitcoin. Altcoins are actually projects developed to improve some aspect of further “decentralization.”
WHAT IS BLOCKCHAIN?
Blockchain is a system for recording information in a way that makes it difficult or impossible to change, hack or circumvent the system.
A blockchain is essentially a digital ledger of transactions that is duplicated and distributed throughout the network of computer systems on the blockchain.
WHAT IS DEFI?
DeFi is short for “decentralized finance.” It is an umbrella term for decentralizing financial products through a combination of cryptocurrencies, blockchain technology and smart contracts. This makes it possible to securely settle transactions among themselves without the intervention of an intermediary. In the blockchain, the contract is stored. No central authority such as a bank is needed anymore such that you are not dependent on this central authority. This is important because centralized systems and physical persons can limit the speed and sophistication of transactions and offer users less direct control over their money.
WHAT IS A CRYPTO EXCHANGE?
A crypto exchange “Crypto Exchange” is a platform on which you can buy and sell crypto currencies. You can use exchanges to exchange one cryptocurrency for another – for example, by converting Bitcoin into Cardano- or to buy crypto with regular currency, with US dollars or Euros, for example. The exchanges are done at the current market prices of the cryptocurrencies they offer.
Examples include: Kucoin, Coinbase, Crypto.com
What are crypto wallets?
Crypto wallets store your private keys, keeping your crypto safe and accessible. They also allow you to send, receive and issue cryptocurrencies such as Bitcoin and Ethereum and all other altcoins. Exchanges like Kucoin, Coinbase and Crypto.com are the easiest ways to get started with crypto and offer a balance between security and easy access. Although we recommend you keep most of your coins on a separate wallet that offers even more security.
WHAT IS "CRYPTO STRIKE"?
Crypto-staking is the process of locking crypto-holdings to obtain rewards or earn interest. Staking can be a great way to use your crypto currency to generate passive income, especially since some cryptocurrencies offer high interest rates for staking. But before you begin, it is important to fully understand how crypto strike works.
CENTRALIZED OR DECENTRALIZED?
To trade cryptocurrencies, you must use a crypto exchange. There are two types of crypto exchanges. Specifically, centralized and decentralized. The crucial difference between centralized and decentralized exchanges is whether or not an intermediary is present. In a centralized environment, in essence, the intermediary has power over your assets. In a decentralized environment (DEX), however, there is no middleman. So it is more risk-free.
WHAT IS "FOMO?"
FOMO ” THE FEAR OF MISSING OUT”
You can use this term in your daily life. However, if someone says FOMO in crypto-related topics, they probably have an urgent need to participate in what everyone else is doing: buying a particular cryptocurrency when they think its price is going to rise!
WHAT IS "FUD?"
FUD “ FEAR, UNCERTAINTY, AND DOUBT.“
Sentiments of the crypto community fluctuate like a yo-yo from time to time, causing prices to rise or fall. FUD in cryptocurrency is a psychological trick used to spread doubt and fear that would cause that particular currency to fall in price.
Who benefits? Clearly the people spreading FUD!
WHAT IS "HODL?"
HODL “ HOLD YOUR COINS“
“HODL” is probably the most well-known typo among the crypto community. Originally meant to simply mean “hold” on a Bitcoin forum, HODL means to hold a coin even if it crashes, hoping for a bullish market in the future.
WHAT IS "WHALE" IN STOCK MARKET TERMS?
WHALE “ A HUGE INVESTOR HOLDING A LOT OF CRYPTO“
An investor who owns five percent or more of a cryptocurrency token.
For example, in the case of Bitcoin, a whale would be someone who owns as much as USD 8 billion worth of Bitcoin
WHAT IS "PUMP & DUMP"?
PUMP AND DUMP “MANIPULATE THE SENTIMENTS“
Pump occurs when a large amount of attention leads to the price increase of a currency; dump occurs when the price of the currency crashes after an accompanying spread of negative emotions.
Pump and dump is yet another tactic used by groups to manipulate crypto market sentiment. This is often the tactic of the “Whales” – when they pump and dump, you may see big waves in crypto value!
WHAT ARE "SATS"?
SATS “SHORT FOR SATOSHIS“
Abbreviation of Satoshis, Bitcoin’s smallest unit.
One Satoshi is equal to 0.00000001 BTC, which doesn’t seem like much, but still, if the price of Bitcoin is rising this high, then any amount of Sat’s you own is valuable!