Cryptocurrency is a complex and ever-evolving industry, with new terms being developed all the time. This can make it difficult for beginners to get started.
Here are some of the most common terminologies related to cryptocurrency:
Blockchain: A decentralized ledger that records transactions.
Coin: A unit of cryptocurrency.
Cryptocurrency: A digital or virtual currency that uses cryptography for security.
Fiat currency: A government-issued currency that is not backed by a physical commodity.
Mining: The process of verifying transactions and adding them to the blockchain.
Wallet: A digital storage device for cryptocurrency.
Volatility: The degree to which the price of an asset fluctuates.
All-time high (ATH): The highest price that an asset has ever reached.
Bear market: A period of time when the price of an asset is declining.
Bull market: A period of time when the price of an asset is rising.
FUD: Fear, uncertainty, and doubt
Gas: A fee that is paid to miners to process transactions.
Hash rate: The speed at which a computer can solve cryptographic problems.
Node: A computer that is connected to a blockchain network and validates transactions.
Satoshi: The smallest unit of Bitcoin, equal to 0.00000001 BTC.
Smart contract: A self-executing contract that is stored on a blockchain.
Technical analysis: The analysis of historical price data to predict future price movements.
Token: A unit of value that is used on a blockchain network.
UTXO: Unspent transaction output, a record of a cryptocurrency that has been sent but not yet spent.