Basic Terminology & Concepts

Anyone new to crypto will probably have a few confusing moments. Not just from learning the concepts but also from the new slang. Sometimes it might feel like a whole new language! We’ve got you covered with this short and comprehensive list of all the crypto terms you should know.

GM

Good Morning. It is used to greet each other

GN

Good Night. It is used when signing off for the day

ATH

All-time-high. It refers to the highest price of a cryptocurrency in a quote currency, such as a dollar, BTC, ETH, or BNB

CT

Crypto Twitter. This is the community of crypto users that are on Twitter

Moon

Describes when a cryptocurrency or other asset is experiencing a strong upward market trend. Users also say “To the Moon'' to indicate that a cryptocurrency has the potential to substantially increase in price

Pump

When a coin price goes up

Dump

When a coin price goes down

FOMO

Fear Of Missing Out. This describes when users have a fear of missing out on a potentially profitable investment opportunity

FUD

Fear, Uncertainty, Doubt. It is a strategy to spread fear and insecurity among customers, traders, or investors

DYOR

Do Your Own Research. Often used to encourage people to conduct their own research into projects and coins instead of following what others say

BUIDL

A term referring to keeping your heads down and focusing on building your product

Wallet

A wallet allows you to interact with blockchain networks, access your funds, and perform transactions

CeFi

Centralized Finance. The planning and decision-making mechanisms of a financial platform are concentrated on a particular point, usually the management team

DeFi

Decentralized Finance. A financial service that utilizes a set of smart contracts and algorithms to execute its services

CEX

Centralized Exchange. An organization that coordinates trading on a large scale, using a similar business model to traditional asset exchanges

DEX

Decentralized Exchange. A cryptocurrency exchange that allows direct peer-to-peer transactions to take place online securely and without the need for an intermediary

DApp

Decentralized Application. This is a type of distributed open source software application that runs on a peer-to-peer (P2P) blockchain network rather than on a single computer

AMM

Automated Market Maker. The system incentivizes users to become liquidity providers in exchange for a share of transaction fees and free tokens

NFTs

Non-fungible Tokens. Each NFT is a unique token on the blockchain and can be used to represent unique ownership

Airdrops

The distribution of digital assets to the public, either by virtue of holding a certain other token or simply by virtue of being an active wallet address on a particular blockchain

You should be able to answer all the questions below. If you are having trouble answering any of them, go back and review the lesson & the external content.