Blockchain Terms
A crypto wallet is a digital tool that allows users to interact with a blockchain network. Contrary to popular belief, it doesn't actually "store" your cryptocurrency in the same way a physical wallet holds cash; instead, it stores the private keys that grant you access to your funds on the blockchain.
Need a wallet? Check out Coinbase!
Stablecoin
A stablecoin is a type of cryptocurrency designed to have a relatively stable price, typically by being pegged to a reserve asset like a fiat currency (e.g., the U.S. Dollar) or a commodity (e.g., Gold).
Stablecoins can be purchased on most crypto exchanges and held in a crypto wallet.
Blockchain Technology
Blockchain is distributed ledger technology which allows for storing of digital transaction (data) in an immutable, peer-to-peer ledger that is hack-proof and open to the public. Take a look at this explainer video by New Kids on the Blockchain to get a better understanding of this new and innovative technology.
Distributed Ledgers
A distributed ledger is a ledger of any transactions or contracts maintained in decentralized form across different locations and people. A central authority is not needed to authorize or validate any transactions. Ledgers can be public (Ethereum) or private (Hyperledger).
Digital Assets
Anything of real or perceived value, owned by a company or individual, that is stored in digital or electronic form. Examples include property deeds, pictures, degrees, cryptocurrency, etc.
Smart Contracts
A smart contract is a computer program or protocol which is designed to execute, control or document relevant events according to the rules of a contract or agreement. Get a better understanding with this video by Goodbit.
DAOs
A Decentralized Autonomous Organizations is an organization that runs through rules encoded as computer programs called smart contracts. For a quick overview on DAOs check out this video by Goodbit.
Cryptocurrency (Crypto)
Cryptocurrency is a digital asset designed to work as a medium of exchange. Individual coin ownership records are stored in on a digital ledger using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. The International Monetary Fund (IMF) would like to explain here.
Artificial Intelligence
Artificial Intelligence (AI) is the simulation of human intelligence processes by computer systems. These processes include learning (the acquisition of information and rules for using it), reasoning (using rules to reach approximate or definite conclusions), and self-correction.
CBDC
A CBDC (Central Bank Digital Currency) is a digital form of a country's sovereign currency, such as the U.S. Dollar or the Euro, issued and regulated directly by the nation's central bank.
Fintech
Fintech (a portmanteau of "financial technology") refers to the integration of technology into offerings by financial services companies to improve their use and delivery to consumers. It primarily works by unbundling these services into more focused, efficient, and accessible digital formats.
HODL
Hold your crypto no matter what—especially during market drops.
FOMO
(Fear Of Missing Out)
Buying into a crypto because you’re afraid you’ll miss big gains.
FUD
(Fear, Uncertainty, Doubt)
Negative news or sentiment meant to scare investors into selling.
DYOR
(Do Your Own Research)
A reminder to research a project before investing instead of blindly following hype.
To the Moon 🚀
Expression used when expecting a crypto’s price to skyrocket.
Altcoin
Any cryptocurrency that isn’t Bitcoin.
Gas Fees
Transaction fees paid to process actions on a blockchain (commonly associated with Ethereum).
Bagholder
Someone stuck holding a crypto that has dropped significantly in value.
Whale
An individual or entity that holds a large amount of a cryptocurrency and can influence the market.
Rug Pull
A scam where developers abandon a project and run away with investors’ funds.
