Meaning of Cryptocurrency Acronyms and some terms.

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Avatar for Rokay123
3 years ago

Hello everyone, I'll be stating the meanings of some Crypto acronyms and some terms too.

Let's start with acronyms.

ATH

All time high.

The highest price that a cryptocurrency has ever reached.

DAPPS

D- Decentralized. APP-Application

Decentralized applications, describing a blockchain-based application that operates entirely in a decentralized way.

DCA

Dollar Cost Averaging.

This is an investment technique used to reduce the impact of market volatility by spreading out buys and sells over an extended period of time.

FOMO

Fear of missing out.

This is commonly experienced in a rising market where new investors experience the fear of missing out on gains to be made.

The effect of this demand is to drive the market price higher.

FUD

Fear, uncertainty, and doubt.

These emotions are common in volatile markets.

ICO

Initial Coin Offering

This is similar to an initial public offering (IPO) in the equities market.

An ICO is used by cryptocurrency startups to raise capital for their ventures.

A set number of coins is offered for sale to the public in exchange for fiat or other cryptocurrencies.

Beware: pls know that most ICO's are scam.

PoW

Proof of work.

This is used to validate the creation of cryptocurrency by miners who are required to solve complex calculations.

This difficulty is instituted so as to make it harder for cyber attackers to add invalid blocks to the chain.

PoS

No not the regular POS you know.

Proof of stake.

Individuals can gain rewards via a proof of stake in case they hold more currency in their wallets for a length of time.

ROI

Return on investment.

This is the profit made on an investment or transaction.

TA

Technical analysis

This technique is used by market analysts to predict price action.

HDOL

Hdol is slang in the cryptocurrency community for holding the cryptocurrency rather than selling it.

It is actually a term derived from a misspelling of "hold" that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies.

DEX

Decentralized exaxange

It is a cryptocurrency exchange which operates in a decentralized way, that is, without a central authority. Decentralized exchanges allow peer-to-peer trading of cryptocurrencies. 

Now let's look at some terms and thier meaning.

Airdrop

An airdrop is a distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses. Airdrops are primarily implemented as a way of gaining attention and new followers, resulting in a larger user-base and a wider disbursement of coins. 

Though there are so many airdrops that are either fake or scam.

Note: Don't pay to get an airdrop.

Fork

This term applies to a blockchain that’s split into two separate chains, normally to accommodate new governance rules.

Genesis book

This describes the very first block in any blockchain.

Going long/going short

These terms describe a margin trade that profits when the price either increases or decreases.

Node

A blockchain isn’t stored in a central location.

In fact, it’s distributed to any number of computers – called nodes – which host it.Each node is instrumental in verifying the ledger within the blockchain.

Pump or dump

This is a form of market manipulation by traders who artificially inflate prices and then exit the market, thus causing a collapse in the price.

Whales

Whales are investors who hold a significant number of coins or other cryptocurrency. They can have a marked influence on market movement.

Imagine having up to 10,000 bitcoin, sure you can be called a whale.

Votality

Market or price volatility refers to the movement in the price of a cryptocurrency over time. The cryptocurrency market typically experiences wild swings between high and low prices.

Today eth could be $200, tomorrow you might be surprised to see it at $140, vice versa.

**So far so good, I hope we all benefit from this, and thanks so much to those who read and pointed out some things in my previous post on some terms in cryptocurrency.

Rokay.

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Avatar for Rokay123
3 years ago

Comments

I have been seeing this words but can't comprehend what some of them meant like Daps. I used to just flow along with it. Now I know the meaning I can confidently use them in my day to day transactions

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3 years ago

Impressive list! I love words and dictionaries. Crypto can be somewhat intimidating for newcomers.

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3 years ago

Yeah I agree. Learned a few things from this list about crypto I did not know before! :)

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3 years ago

I think even those who have been in crypto for years are still learning. It's such a huge field of technology and sub culture.

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3 years ago

There are about 4-5000 projects now on coin market cap, coingecko etc. Thats a lot and growing fast!

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3 years ago

That is heaps I will check them out. Use to be about 1800 on CoinMarketCap cap last time I looked.

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3 years ago

Yo, nice post ! Giving me a lot of about meaning of cryptocurrency. I like crypto :D As you can see it on my blog !

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3 years ago

thanks so much for the enlightenment

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3 years ago

You welcome...

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3 years ago

Thank you for this information. It will serve as eye opener for the newbies in the cryptocurrency industry. Good job done.

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3 years ago

Sure it will.. Thanks

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3 years ago

Thank you for this articule man ! It gives me a lot of new informations. Keep going, Waiting for new posts. Good Luck!!!!

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3 years ago

I am impressed by the new update. My friends learnt from the previous post and am sure they would learn from this as well. I hope its doesnt stop there winks

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3 years ago