CRYPTO TERMS EVERY BEGINNERS SHOULD KNOW
What is HODL?
What is DYOR?
What is FUD?
Don't worry, you're not alone. When I was new to crypto, these were just some of the terms I didn't understand at first either. Before you get started, here are some important crypto terms you should know.
BLOCKCHAIN β A digital record book that stores transactions securely.
CRYPTOCURRENCY β Digital money like Bitcoin or Ethereum.
WALLET β An app or device used to store and manage crypto.
PRIVATE KEY β Your secret password that gives access to your crypto. Never share it.
PUBLIC KEY β Like your bank account number; others use it to send you crypto.
EXCHANGE β A platform where you buy, sell, or trade crypto.
GAS FEE β A small fee paid to process transactions on a blockchain.
HODL β Slang for holding crypto long-term instead of selling.
ALTCOIN β Any cryptocurrency other than Bitcoin.
STABLECOIN β A crypto designed to keep a stable value, often tied to the US dollar.
MARKETCAP β The total value of a cryptocurrency in circulation.
BULL MARKET β Prices are generally rising.
BEAR MARKETβ Prices are generally falling.
DeFi β Financial services built on blockchains without banks.
NFT β A unique digital asset that proves ownership of an item such as art or collectibles.
DYOR β "Do Your Own Research" before investing.
FOMO β Fear of missing out, leading to impulsive buying.
FUD β Fear, uncertainty, and doubt that can cause panic selling.
WHALE β A person or entity holding a very large amount of crypto.
PUMP and DUMP β Artificially boosting a coin's price, then selling for profit, leaving others at a loss.
Learning these basics will make it much easier to understand crypto news, trading discussions, and investment opportunities.
