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40 Terms In Cryptocurrency from drappedia

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 For those of you who are beginners, you may still be confused when you enter the trading platform. Especially when you enter the chat room, there are many unique terms that are sure to be confusing for novice investors.

Cryptocurrency trading or digital assets have actually been circulating around the world for a long time. One of the most frequently traded crypto assets is Bitcoin, Rappler, Doge, and many others.



Since December cryptocurrencies have boomed again after Elon Musk was pomping Doge assets on his Twitter. Elon Musk also pumped Bitcoin assets until the price skyrocketed, from IDR 540 million to IDR 650 million / Bitcoin.

How to Earn CryptoCurrency

When it comes to assets, cryptocurrencies, and pom-poms, what exactly are they? This is the meaning of cryptocurrency and other terms.

General Terms

  1. Cryptography: The act of creating or breaking codes. Cryptography is used to keep cryptocurrencies safe.
  2. Blockchain: Blockchain is the underlying technology of cryptocurrency that keeps the system secure.
  3. Decentralized: In cryptocurrency, decentralization means there is no central point of the network. Instead, it is spread across a series of users (nodes).
  4. centralized: The opposite of decentralization, centralization means being at a central point. This is often frowned upon in cryptocurrencies as it can mean that the central point has a lot of power and also means it is more vulnerable to attack.
  5. Mining: The process of validating blocks in exchange for prizes which are also blocks.
  6. Bull Market/Bullish: Market is going up
  7. Buy: Buy coins.
  8. Sell: Sell coins.
  9. Bid: The selling value of a certain currency (coin).
  10. Ask: The purchase value of a certain currency (coin).
  11. WD: Withdraw/withdraw the money in your savings account to your bank account from coins/IDR.
  12. Depo: Deposit for additional funds/good balance from IDR/coins.
  13. Low: The price of the lower limit of the currency.
  14. High: The price of the upper limit of the currency.
  15. Vol: Volume or total number of goods sold in the market.
  16. Chart: A graph of the coin’s increase/decrease.
  17. Wallet: One of the most common cryptocurrency terms, a virtual wallet where people keep their cryptocurrencies safe.
  18. Limit order: A coin order placed at a future price to be executed when the target price is reached.
  19. Circulating supply: Calculates the total price of a coin when multiplied by the circulating supply.
  20. Market Capitalization: Market Capitalization. (price) X (coins in circulation).
  21. ICO: Initial Coin Offering – Initial Coin Offering.
  22. IDEX: Digital money trading market.
  23. Public Key: This is the key that you share with people so that you can receive cryptocurrency.
  24. Private Key: This is what you use to access the wallet where you store your cryptocurrency. Only you have access to your private key. If someone else catches it, they can steal your cryptocurrency.
  25. Hard Cap: The maximum amount the crowdsale will accept.
  26. Low Cap: If an ICO wants to raise less funds it is generally less than $20 million.
  27. High Cap: If an ICO wants to raise more funds it is generally more than $25 million.
  28. Borrowing rate: Leveraged position, here you will borrow coins at a predetermined rate. This value will be added to reflect your overall position gain and loss.
  29. Lending rate: Some exchanges have loan accounts, you can deposit coins into this lending account to lend your coins to others. In trading with leverage. Credit interest rates fluctuate throughout the day based on coin demand.

  30. Bear Market/Bearish : Market is falling

    Terms in Trading Chat Rooms

    Also read: Bitcoin Soars, Cryptocurrency Products Can Be Collection Options in Crisis Times

    1. Bitcoin: One of the most popular crypto assets, or coins, is also known as BTC.
    2. Altcoins/Alts: Alternative coins. Coins other than BTC. For example: Ethereum, Ripple, Doge, Bch etc
    3. Hodl : “Hold on for dear life”, hold your coin.
    4. Fudder: People who like to spread bad news.
    5. FOMO: Fear Of Missing Out, where the fear of missing an update.
    6. Pump: Buy coins to increase the price.
    7. Pom-pom/ Pump-pump : Inviting everyone to buy the asset so that the price goes up.
    8. Dump: Sell coins after the price goes up.
    9. Pump and dump : This is manipulation behavior. It’s usually the creators who have the big share – encouraging others to buy their cryptocurrency to artificially pump the price. Once the price reaches the high point the brand likes, the scammers sell everything they have and the price plummets.
    10. Moon: The state of cryptocurrency skyrocketed / Rise very high. That means people believe that the price will go up exponentially.

    Those are 40 terms in the cryptocurrency world. If you already know the term, you will no longer take the wrong steps in investing. What assets have you bought today?

Admin
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