Below are common terms you may hear and see in the crypto world, we hope this helps you to get a better understanding of cryptocurrency.
Address
Usually referring to the identifier code in which you would send or receive cryptocurrency, here is an example of a Bitcoin address - 3GPcKwB3UGML4UiYqZM6BYx7Nu5Dj7GKDD
ATH
All Time High
Altcoin
A name for cryptocurrency coins that are not Bitcoin.
Atomic Swap
Atomic swaps or atomic cross-chain trading, is the exchange of one cryptocurrency to another cryptocurrency, without the need to trust a third-party.
Blockchain
The digital ledger technology which allows cryptocurrencies to function securely.
Exchange
The online platform/website where you can both purchase and sell cryptocurrencies. Popular exchanges include Coinbase, Bittrex and Bitstamp.
Fork
When a cryptocurrency splits in two resulting in an old and new version, essentially the blockchain gets split. There are hard forks and soft forks, a hard fork is meant to create two blockchain/coins and a soft fork is meant to result in one. An example of a hard fork would be Bitcoin cash.
FUD
A three letter abbreviation for "Fear, Uncertainty and Doubt". This is a disinformation strategy that predates cryptocurrency.
Hashrate
The speed at which a block is discovered and the rate at which the related math problem is solved.
HODL
A purposefulmisspelling of the word Hold, signifying a sentiment of holding your crypto for a long term sell off for bigger profits. Also, represents the phrase "Hold on for Dear Life"
ICO
Initial Coin Offering
Mining
Mining is the term used for discovering and solving blocks along the blockchain. A mining reward is given for solving the algorithm and lengthening the chain. The mining reward for the Bitcoin blockchain is Bitcoin.
Price Correction
A reversal of price, usually negative, to adjust for an overvaluation. Price corrections happen very often in the cryptocurrency market.
Wallet
Refers to the wallet in which you store your cryptocurrency, there are different types of wallets such as a hardware wallet, paper wallet and software wallet
Welcome to Steemit @thinkbillions :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Welcome to Steem, @thinkbillions!
I am a bot coded by the SteemPlus team to help you make the best of your experience on the Steem Blockchain!
SteemPlus is a Chrome, Opera and Firefox extension that adds tons of features on Steemit.
It helps you see the real value of your account, who mentionned you, the value of the votes received, a filtered and sorted feed and much more! All of this in a fast and secure way.
To see why 3007 Steemians use SteemPlus, install our extension, read the documentation or the latest release : SteemPlus 2.17.7 : Witnesses on Busy.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Welcome to Steem! Partiko is a fast and beautiful mobile app for Steem and we upvote our users to help them grow! Please feel free to download the Android app here and the iOS app here.
To get more upvotes, please join our Discord server here: https://discord.gg/N7Et97G
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @thinkbillions! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit