Crypto Terminology || 10% payout to tron-fan-club

in hive-183397 •  2 months ago 

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Hello friends and TFC lovers,trust you're good. Welcome to my blog once again,I want to believe you have been getting value from my previous post. Today I will love to share with us some crypto related term we should get familiar. This post will also be very useful for newbie as it will answer the many question they have on their mind as it relates to crypto. Let's enjoy this ride together.

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Crypto Terminologies

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  • ATH (All-Time High)

ATH means the highest price an asset ever attained and it is the direct opposite of ATL. ATL means all time low** which means the lowest price an asset ever attained.

  • Alternative Coins (Altcoins)

Alternative coin which is fondly referred to as Altcoin are coins other than Bitcoin. If it is not Bitcoin the it is called Altcoin or even shit coin by some other. Ethereum is the second most recognized coin but it is still been referred to as Altcoin.

  • Bitcoin Maximalist

This is someone who believe so much in Bitcoin.He doesn't consider any other coin to be worthy of his financial input in form of investment. He sees other coin as Altcoin or shit coin.

  • Block Reward

This is the name given to the compensation given to miners for validating a new transaction and also recording them on the chain.

  • Blockchain

This can be defined as a decentralized digital ledger where information are stored without being manipulated.

  • Centralized Crypto Exchange (CEX)

This is the name given to an exchange where crypto and Fiat can be traded. This type of exchange is maintained and controlled by some entity. A very good example is Binance. Binance has risen over the years to be one of the most popular CEX in the world

  • What is a DAO

Decentralized Autonomous Organization (DAO) can be defined as an organization with a vivid and transparent rules programmed in a computer,therefore it is not run by any central authority rather it is operated by shareholders.

  • DApps

DApps can be defined as decentralized application that are powered or built on the blockchain and it is also not control by a central authority or individual.

  • DEX

Dex means Decentralized exchange,it is unlike cex,this is an exchange where there are no central authority in control of the exchange.

  • DeFi

Defi means Decentralized finance. By now you should understand that the term decentralized means no central authority. Now defi mean a decentralized monetary system powered by a public blockchain.

  • Digital Address

A digital address is just like the way an typical address function, It depict a destination,it represent the wallet of a user where you send in fund directly without sending amiss. The address is made up of about 24 to 34 letters making. An example of this is;126sti2R9ZooiGrVTuJxYGeDvF5Uspjj9JK.

  • Digital Wallet

A digital Wallet is a wallet that is used to store your digital currency (crypto). It has a public address which you use in receiving your digital asset directly into it and a private key which gives you as the owner access to the asset. This digital Wallet can function on mobile device as app and on your computer and software. Trezor and ledger is a type of digital Wallet.

  • FIAT

Fiat can be defined as a currency that is peculiar to a country or state and is also backed by such country. An example is USD EuRo YEN CAD etc.

  • FOMO

FOMO is a short and fascinating way of abbreviating the statement Fear of missing out. This is the fear that most traders especially the newbies experience. It make them want to jump into a trade so they don't miss out of the buzz which appears to be a trap in most cases.

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Conclusion

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I want to believe you have learnt from this write-up. All theseamd many more are the terms a newbie should should get familiar with. I hope you bring more your way in my next publication. Thanks for your time.

Regards:
@lhorgic♥️

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You have taken a very important article regarding Crypto Terminology. Thank you very much for such an interesting article.

Thank for dropping by dear friend. I appreciate your comment on my post.

You are most welcome my friend. Keep doing such great jobs here. Highly appreciate your quick response to my comment.