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.
Good Morning. It is used to greet each other
Good Night. It is used when signing off for the day
All-time-high. It refers to the highest price of a cryptocurrency in a quote currency, such as a dollar, BTC, ETH, or BNB
Crypto Twitter. This is the community of crypto users that are on Twitter
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
When a coin price goes up
When a coin price goes down
Fear Of Missing Out. This describes when users have a fear of missing out on a potentially profitable investment opportunity
Fear, Uncertainty, Doubt. It is a strategy to spread fear and insecurity among customers, traders, or investors
Do Your Own Research. Often used to encourage people to conduct their own research into projects and coins instead of following what others say
A term referring to keeping your heads down and focusing on building your product
Concepts at a Glance
A wallet allows you to interact with blockchain networks, access your funds, and perform transactions
Centralized Finance. The planning and decision-making mechanisms of a financial platform are concentrated on a particular point, usually the management team
Decentralized Finance. A financial service that utilizes a set of smart contracts and algorithms to execute its services
Centralized Exchange. An organization that coordinates trading on a large scale, using a similar business model to traditional asset exchanges
Decentralized Exchange. A cryptocurrency exchange that allows direct peer-to-peer transactions to take place online securely and without the need for an intermediary
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
Automated Market Maker. The system incentivizes users to become liquidity providers in exchange for a share of transaction fees and free tokens
Non-fungible Tokens. Each NFT is a unique token on the blockchain and can be used to represent unique ownership
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.
- When is GM used?
- Why is it important to DYOR?
- Why do you need a wallet?
- What is DeFi?
- What are Airdrops?