(Will update soon not finished)
In crypto there are a lot of different technical terms, new people might not have the slightest clue of what they actually mean. Here I have a list of most used term in the cryptoworld in general.
Crypto in general
Alt standing for alternative, meaning another coin than the main coin nr 1 Bitcoin
Stablecoins are coins that have a value which is based on something of value, for instance the dollar. These coins back up the funds in whatever they base their value of and tokenise it in the blockchain. This is used for traders who buy the dip and sell the top when they sell they buy a stablecoin like tether (which is bound to the usd dollar) and then the money still stays on the blockchain and if on a private wallet, in ownership of the individual and not the banks who probably own the money if you sell it for fiat.
Privacy coins are coins that are programmed in such a way all transactions are untraceable and therefore users stay anonymous. And gives users a lot of privacy. As it is public info that most banks track our spending records and might sell it to advertising compannies. This can be prevented with these coins, Monero and Zcash are the two biggest privacy coins out there.
A shitcoin is a coin that gains lots of popularity and high price or praise for no appearent reason. As markets are very easy to manipulate and a lot of people don’t have a lot of knowledge they fall in the hype of shitcoins. These coins like I said mostly have no value and have no usecase, probably some smart promotional action or advertising might have let to this, for example bitconneeeeeeeeeeeeeect.
Ico stands for Initial Coin Offering, this is used by startup crypto’s to get funds to fund their project. In ICO’s you can buy the first representation of the coin they are about to make or are about to launch. Sometimes you can get coins for real discount prizes, but a lot of Ico’s just sell off as soon as they hit the market. Also most of the ico’s out there are scams, and therefore in some countries and regions they are forbidden.
Decentralized means that something does not have to be authorized by a central point, this way things could be tampered with or kept hidden from the public. With peer to peer ledgers, everything runs through all the nodes on the system and not to for example the central bank only.
A dApp is a Decentralized application this means it runs on the blockchain with the help of smart contract technology.
ROI stands for Return On Investment or Rate Of Return, and it is a calculation of how much profits you should make. Or when you should be able to see the amount of money back what you invested.
A service that lets you buy, sell and trade assets.
Based on the character from game of thrones (spoilers) Hodor who heroicly dies holding the door. We epicly hodl our crypto like hodor hold the door, game of thrones fans will understand.
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