A cryptocurrency is a type of currency which uses digital files as money. Usually, the files are created using the same methods as cryptography (the science of hiding information).
What is token ?
Crypto tokens, which are also called crypto assets, are special kinds of virtual currency tokens that reside on their own blockchains and represent an asset or utility.
You should now know the simple definition of both a coin and a token: coins are native to their own blockchain. Whilst tokens have been built on top of another blockchain
For example Ethereum is a coin, Ampleforth is a token.
What is a blockchain ?
Blockchain is defined as a digital recording, used to prove that a group of people came to an agreement about something. Blockchain records are permanent and very secure, preventing manipulation.
What is a DeFi ?
Decentralized finance, in short DeFi. This refers to financial services using smart contracts, which are automated enforceable agreements that don’t need intermediaries like a bank or lawyer and use online blockchain technology instead.
What does "peer to peer" mean ?
Peer to peer or P2P is defined as a connection between two or more computers that allows them to directly share information, files, or other data.
What is a mining ?
Cryptocurrency mining is a process in which new cryptocurrency transactions are added to the blockchain. People who are responsible for verifying this information and therefore, updating the LEDGER are called miners.
What is a stablecoin ?
As a name indicates, stablecoins has stable value, for example Tether (USDT) which value is equal to 1 USD.
What are smart contracts ?
Smart Contracts are a digital form of traditional contracts. They are simply programs that operate on many crypto platforms, for example, Ethereum and NEO, and they are designed to ensure that all parties which take part in transactions are secure regardless of trust.
What is circulating supply and total supply ?
Most of cryptocurrencies has a limited supply. Total supply is a maximum amount of coins which can be created. Circulating supply is the current amount of coins of the cryptocurrency which have been mined and therefore, they are in circulation.
What are crypto fees ?
When you are sending a crypto there is a transaction fee. The fee is collected in order to process the transaction on the network.
What is a wallet ?
Wallet is a place when you can store your crypto. Most used crypto wallets are online wallets and apps. But most secure are hardware wallets (check imagine)
What are altcoins ?
Altcoins are all cryptocurrencies except Bitcoin. They are regard as alternative of bitcoin. Alternative coins -> altcoins
What is pump and dump ?
In a pump and dump scheme, fraudsters typically spread false or misleading information to create a buying frenzy that will “pump” up the price of a stock and then “dump” shares of the stock by selling their own shares at the inflated price.
What is a correction ?
Correction describe a rapid decrease in the price of an asset from abnormal price to its long-term established trend.
What a person do when he is hodling crypto ?
No, its not a mistake. When you holding the cryptocurrency rather than selling it you are a hodler who hodl crypto.
What is happening when there is bearish or bullish trend ?
Bullish trend -> price go up
Bearish trend -> price go down
What is an exchange ?
Exhchange is a web or an app where you can swap you crypto to another crypto or to classic money.
What is a dead cat bounce ?
A dead cat bounce is a temporary, short-lived recovery of asset prices from a prolonged decline
What is KYC ?
KYC (know your customer) is the mandatory process of identifying and verifying the identity of the client when opening an account and periodically over time. (You need to give information from a passport or ID card...)
What is a private key ?
Private key is defined as a string of letters and numbers known only by the owner that allows them to spend their cryptocurrency from wallet. NEVER SHARE your private key unless you want someone else to be able to take all of your money!
What is a volatility ?
Volatility is the measurement of how much the price of an asset is likely to change over a period of time.
What is a cloud mining ?
Cloud mining is a situation when you "mine" crypto but you don't own a miner etc.
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