A Guide To Popular Crypto Slang Terms, Part 1: From A To L
If you are new to crypto forums, you will often come across unusual abbreviations or terms. As in any field, the cryptocurrency industry has its own jargon. In our previous articles, we have covered various animals in crypto investing. In this article, we will look at the most common terms that require clarification. Below is our list of cryptographic terms from A to Z. The second part will cover cryptographic terms and definitions from M to Z.
Familiar coding terms from A to Z
air drop
Cryptocurrency drop is a marketing strategy that involves sending coins or tokens to wallet addresses. Small amounts of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in exchange for a small favor, such as retweeting a message sent by the company that issued the currency. The ultimate goal of a cryptocurrency giveaway is to spread the word about a new token or coin.
altcoins
In cryptographic terminology, "altcoin" is a combination of two words: "alternative" and "currency". This term refers to any type of cryptocurrency other than bitcoin. Many altcoins are based on the underlying structure provided by Bitcoin. As such, most altcoins are peer-to-peer, requiring a mining process in which users solve complex problems by breaking blocks, providing safe and cheap ways to transact online. But altcoins, even with many overlapping features, are very different from each other.
SO C
This term refers to cryptocurrency mining. ASICs are specialized integrated circuit mining computers designed specifically for cryptocurrency mining. While any PoW cryptocurrency can be mined with ASIC miners, it is usually used to mine bitcoins.
Tribe
Being a messenger is pretty easy. Basically, it's a term for a person who kept "bags" after someone ran off with money. In the world of cryptocurrencies, you are an investor or trader who has held (or traded) a particular cryptocurrency for a long time and now has to deal with the consequences of that decision.
Buy Dip (BTD)
Buy a Dip or BTFD (Buy the F***ing Dip) is the process of buying an asset after its value has fallen. When it comes to the cryptocurrency market, "buy a dip" is used to describe the possibility of investing in a coin or token whose price has fallen in the short or long term. By doing this, investors hope to take advantage of any future price increases, in which case they hope to "sell high".
CEX
CEX stands for Central Stock Exchange. C'est une entreprise qui vous forritt de numerous services tels qu'une platforms de trading de crypto-monnaie (transactions d'achat et de vente), des services de account (financement et retrait de account) en des services d'assistance à customers. Centralized exchanges remain the most widely used way to buy and sell cryptocurrencies. It is attractive to many cryptocurrency users as it is considered more convenient and easier to use than a decentralized exchange (DEX).
Icon
A coin is a cryptocurrency or digital currency independent of any other blockchain or platform. The main feature of a coin is the coin, and the term can also be used to describe a cryptocurrency asset that is not a token.
cold wallet
Cold wallets are digital storage of cryptocurrencies on an offline platform that protects them from hackers. The most popular are Ledger, Trezor, KeepKey, etc.
encryption
"Encryption" happens when someone gets bitten by an encryption bug and just can't shut up. The victim reads, writes, communicates and consumes cryptocurrency-related information all day long without stopping.
sly
A Decentralized Autonomous Organization (DAO) is a blockchain-based software that provides users with an integrated model to collectively manage their tokens. DAOs are based on Ethereum smart contracts, which can be programmed to perform certain tasks only when certain conditions are met.
decentralized application
A decentralized application (DApp, dApp, Dapp, or dapp) is an application that can run independently, typically using smart contracts that run on decentralized computers, a blockchain, or other large distributed system.
Call
DeFi is an acronym for Decentralized Finance. It is a new financial technology based on secure distributed ledgers similar to those used in cryptocurrencies.
Degen
The term "degen" comes from sports betting. Short for "degenerate", it is commonly used as an insult referring to players who tend to gamble for large sums of money without the knowledge or experience to back it up. In the crypto industry, this term refers to high-risk traders.
DEX
A decentralized exchange (commonly known as a DEX) is a peer-to-peer marketplace where transactions take place directly between cryptocurrency sellers. Unlike CEXs, DEXs aim to complete transactions faster and cheaper than their centralized counterparts. They do this by removing intermediaries who receive reduced fees for CEX transactions.
diamond needles
The term "diamond hands" in cryptographic jargon is an expression that indicates a high degree of risk tolerance. It's about holding on to a volatile investment, even when it's necessary to sell. It is popular among riskier assets such as crypto stocks and memes. Unlike Diamond Hands, Paper Hands is a term that describes a person who sells stocks too early.
Dior
DYOR stands for Do Your Own Research and is a popular phrase used by cryptocurrency enthusiasts.
fiat/fiat currency
A fiat currency is a legal tender whose value is tied to a government currency such as the US dollar, while a cryptocurrency is a digital asset whose value is determined by its own blockchain.
turn around
The term Flippening was coined in 2017 and refers to the possibility that the market cap of Ethereum (ETH) will exceed the market cap of Bitcoin (BTC).
fomo
Fear of missing out, FOMO for short, is perhaps one of the most popular crypto terms to accurately describe the volatile crypto market. It is the fear of missing out on something others value that drives people to buy or hold at their peak while retreating after taking profits. You can say that people fail when they act out of fear of missing out.
fork
A hard fork occurs when the community changes the blockchain protocol or set of ground rules.
food
FUD means fear, uncertainty and doubt. This psychological method of inducing negative feelings towards a particular asset is usually frowned upon in cryptocurrency circles to prevent further buying or even provoke a sale or sell. . The goal is to suppress the price of the asset so that FUDer can accumulate at a lower price, or it could cause financial hardship to other token holders for what could become a competing crypto project.
Gas
Cryptogas refers to the value required to complete a transaction on the Ethereum network. Ethereum miners, whose hardware and power support the network, will determine the settlement price based on supply and demand. When demand is high, miners can demand more gas fees. When demand is low, gas prices usually fall.
grandmaster
"GM" usually means "hello". However, in the cryptocurrency and NFT community, he expresses the idea that the owners and users of cryptocurrency and NFTs are "at the dawn" and that the industry has great prospects, or at least a specific project in the future.
cut
A hash is a function that meets the cryptographic requirements needed to perform calculations on a blockchain. Hashes are fixed length because it is almost impossible to guess the hash length if someone tries to hack the blockchain.
HODL
HODL is a term derived from a misspelling of the word "hold" in the context of buying and holding Bitcoin and other cryptocurrencies for a long time. It is also popular among cryptocurrency investors to symbolize "holding on to life".
hot wallet
A dynamic wallet refers to a virtual currency wallet that is accessible over the Internet and facilitates cryptocurrency transactions between the owner and end users. A set of private keys stored in a program connected to the Internet is used to store and send various currencies such as bitcoins.
ICO
ICO stands for Initial Coin Offering and refers to a previously popular method of raising funds for capital for early stage cryptocurrency projects. During an ICO, a blockchain-based startup issues a certain amount of its own digital token and offers it to early investors, usually in exchange for other cryptocurrencies such as bitcoin or ethereum.
private and public key
Private keys can be used for both encryption and decryption, while public keys are only used to encrypt sensitive data. Private keys are shared between the sender and receiver, while public keys can be freely exchanged between multiple users.
Know your customer / Know your customer
Know Your Customer (KYC) standards are designed to protect financial institutions from fraud, corruption, money laundering and terrorist financing. It is a form of identity verification required by many cryptocurrency exchanges since it was introduced by regulators in 2017, in short, a process of mandatory customer identification and verification.
- I don't know your customer to buy cryptocurrency . Some services, such as StealthEX, do not require their customers to identify themselves in order to buy cryptocurrency.
budget
The book takes its name from the ancient record keeping system used to record information such as agricultural prices, news and analysis. The register was available for public consultation and audit. With the advent of cryptocurrency-based blockchain systems that rely on a similar record-keeping and public verification mechanism, the use of public ledgers has become popular in the world of cryptocurrencies.
This is our first article about cryptocurrencies containing the letters AL. In Part 2 we will look at crypto jargon from M to Z. Keep reading StealthEX's crypto blog for the latest crypto market news and special conditions.
If you want to buy cryptocurrencies safely, you can always use StealthEX, an easy-to-use, jail-free crypto exchange. You can buy cryptocurrency privately and without signing up for a service. Our cryptocurrency pool contains more than 600 different currencies and you can make instant and hassle-free transfers from wallet to wallet.
Just go to StealthEX and follow these simple steps:
- Select the pair and amount you want to trade. For example, exchanging BTC for ETH.
- Click on the "Start Trading" button.
- Specify the recipient address for forwarding your encryption.
- Process the transaction.
- Get your cryptocurrency.
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Remember to do your research before buying any cryptocurrency. The views and opinions expressed in this article are solely those of the author.
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