cryptocurrency terminology

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

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Disclaimer - The ThinkingCrypto.com website and Site Owner(s) are not financial or investment experts. You as an individual should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. Investing in cryptocurrencies carries a high risk due to the volatility of crypto market. This site is meant to be educational, not provide financial or investment advice.