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17 Common Cryptocurrency Terms You Should Know
Altcoin
These are generally any cryptocurrency other than Bitcoin
Bearish
When a crypto asset falls to a downward slope in value
Bid Price
It is the price an individual is offering to buy cryptocurrency
Blockchain
It is a decentralized and distributed electronic ledger that records all transactions. It is transparent, immutable and secure
Bullish
When you believe a crypto asset is going to experience an upward hike in value.
Fiat Currency
Also known as paper money is the currency declared as the legal tender by a country’s government.
FOMO
It stands for “Fear Of Missing Out”. It is used to describe the feeling you need to get on the train when the price begins to rise.
FUD
Fear, Uncertainty and Doubt. An act of negativity without any cause, sometimes spread by individuals who want a cryptocurrency price to drop.
Gas
It is the fee required by the Ethereum network to process a transaction.
HODL
it describes the process of not selling cryptocurrency.
Liquidity
It is an asset ability to be sold or converted to cash without affecting its market price
Resistance Level
The level at which an asset’s price fails to breakthrough due to intense selling pressure.
Smart Contract
It is a computer program or transaction process intended to execute automatically, control, or document legally relevant actions according to the agreement’s terms.
Stable Coin
A cryptocurrency with extremely low volatility
Support Level
The level at which an asset’s price does not fall below due to intense buying pressure.
Transaction Hash
It is an identifier given to every transaction that is verified and added to the blockchain
