14 Basic Cryptocurrency Words To Know – Part 1

If you're a newbie into cryptocurrency, familiarizing yourself with the commonly used terms/words often said by many experts will help give you a better overstadning on the topic. This is just part 1 of my basic crypto vocab words series. 

Basic Crypto Vocab Words For Beginners
Blockchain – The technology behind bitcoin, the blockchain in short, is a secured and decentralized, digital public ledger for all cryptocurrency transactions that everyone on the network can see. Think of the blockchain as a database, an immutable database that cannot be deleted. Data on the blockchain is copied across thousands and thousands of computers, known as nodes in the crypto world.
Read more about what is a blockchain here.

Here is an image explaining how the blockchain works.

Whale – Someone who owns lots of crypto. Their portfolio is full of various altcoins (a diversified portfolio).
FOMO – Fear Of Missing Out. Happens quite often, especially to newbies who fear they'll miss out on a great dip.
Dip – Price goes lower and price of the coins are 'in the red'.
HODL – Hold For Long. Funny story on the misspelling of this word explained told here; A bitcoin investor misspelled HOLD and wrote HODL because he was drunk and a whole bunch of the members created memes after it. Long and be hold, HODL was born. So generally, when you hear or read the word hodl, it means read or hear the word HODL, it means that they believe the coin will be profitable one day the longer they hold their funds in that coin, even during a dip. When the markets are bullish, they will gain profit from the HODL.
Mooning – Price going up extremely high.
Bullish –Prices goes up and is in the green.
Bearish – Prices goes down and is in the red.
Altcoin – Cryptocurrencies other than bitcoin, such as litecoin, ethereum, doge coin, monero, etc..
ATH – All Time High.
Market Cap – Total supply times current price.
ICO – Initial Coin Offering, a type of crowdfunding
Ticker – The coins abbreviated name. Example: Litecoin's ticker is LTC. Bitcoin's ticker is BTC. Ethereum's ticker is ETH, etc…
Cold Storage – Storing cryptocurrenices offline. usually. a portion or a reserved amount is stored in a cold-storage.

That's it for part 1 of my crypto vocab words series!