Bitcoin, Cryptocurrency Slang Explained

15 Sep

What Is Market Cap?

cryptocurrency lingo

Fiat Money – paper money or coins that is considered legal tender by a government declaration. Exchange – a crypto exchange is a website where you can buy and sell cryptocurrencies online. It refers to someone who tried to sell at a higher price but the market moved too fast and they got left with a coin that is now a significantly lower value cryptocurrency lingo than they paid for it. Altcoin – not an actual cryptocurrency, altcoin refers to all of the currencies that are NOT bitcoin. Speaking of holding onto investments, another common term is the acronym, “HODL,” meaning “hold on for dear life.” This term was coined after someone accidentally wrote HODL instead of “hold” in a 2013 Bitcoin forum.

Timelock

Then, that person is left with „a coin they don’t want at a price they can’t sell it .“ If a „whale“ sells a lot of their stake, it can cause the price of a cryptocurrency to dip by flooding supply, he explains. „A whale is someone who owns a lot of cryptocurrency,“ Saddington says.

  • My new deposit isn’t there and it has been around 30 minutes now.
  • When two different block chains of the same currency are created to work simultaneously.
  • Yes the paradox of the cryptoworld that pretty much all exchanges, the central point of this – is centralized!
  • S BitSeven leveraged trading is a service that offers leverage effect on the change of cryptocurrency prices.
  • I learned this the hard way by keeping my coins on Cryptsy.
  • The wallet contains the private keys that authorise the owner to send these coins to another wallet.

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FOMO – this overwhelming sensation isn’t confined to the world of cryptocurrency. It means “Fear Of Missing Out” and it’s that anxious cryptocurrency lingo feeling you get when it looks like the price of something is going through the roof and you think you should jump on it.

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Bagholder A person who holds large quantities, or bags, of a cryptocurrency. Often cryptocurrency lingo used to describe such a person when the price of that cryptocurrency is declining.

Automated Market Maker An automated market maker is a system that provides liquidity to the exchange it operates in through automated trading. Attestation Ledger An attestation ledger is an account book designed to provide evidence of individual transactions. It is generally used to cryptocurrency lingo “attest” that a financial transaction took place, or to prove authenticity of transactions or products. Ask Price In any financial market, buyers and sellers place their orders to determine the highest price they are willing to buy and the lowest price they are willing to sell.

cryptocurrency lingo

To make sense of such crypto-slang, CNBC Make It asked Peter Saddington, a serial entrepreneur and early bitcoin investor who runs a bitcoin cryptocurrency lingo community called The Bitcoin Pub, to break it down. Saddington first purchased bitcoin in November 2011 when one coin only cost $2.52.

It is expected that most countries will digitise their national currencies in the future. For instance, the South African Reserve Bank is investigating the possibility of a digital currency backed by the rand. Fear of missing out is not only used in crypto, but the crypto version of it comes into play when you see a coin doing very well and are worried you may be missing out on an investment opportunity.

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cryptocurrency lingo

Pointing also to financial crime, FCA Executive Director of Strategy & Competition Christopher Woolard said cryptoasset markets can lead to sudden and unexpected losses. 搬砖 (Bān zhuān) — “Moving bricks.” The slang term for arbitrage, the simultaneous buying and selling of the same asset in different markets in order to take advantage of different spreads offered by brokers. For example, cryptocurrency lingo arbitrage traders buy cryptos in open markets like Japan, and sell them at a premium in banned markets like China. Chinese crypto investors are still trading peer-to-peer on services like WeChat and encrypted apps like Telegram, and discussing tradeson online forums like 8btc.com. The jargon helps avoid further government intervention by obscuring their intentions from prying eyes.