Do you feel your journey in the Crypto-verse is sometimes challenging as its every corner is filled with special crypto terms, abbreviations, even jargon?
We are trying to simplify all things crypto, including terminology, and make it easily available for all. On our website, there is a detailed Glossary that explains all the common crypto and trading terms. If you ever need an explanation, don’t look any further!
In our newsletter, you can also find one random crypto term a week. Not on our mailing list? To subscribe, go to www.coinmetro.com and click on the envelope icon in the bottom right corner. Easy as 1-2-3!
In this guide, we’ll have a look at the most common crypto terms that will help you feel like a fish in the sea in the crypto community.
This is one of the most widely used crypto terms, and no, it’s not a typo. HODL refers to holding onto your altcoins and tokens rather than selling them.
FOMO is in the same boat with HODL. Fear of Missing Out, as in fear of missing the profits.
Coin and Token
These crypto terms are often used interchangeably, which is wrong as they mean completely different things.
Coins are digital money, whereas tokens, digital assets issued by a project that can be used as a payment method within the project’s ecosystem. For example, XCM is the CoinMetro ecosystem’s token.
Bitcoin was the first crypto to ever be invented, all other cryptos are known as altcoins, or “alternative coins”.
Fiat currency is paper money and default currency issued by the governments, e.g., the US Dollar, the Euro, etc.
A market showing mostly rising prices.
A market showing mostly falling prices.
Moon/to the Moon/Mooning
These ones are pretty much straightforward, meaning there is a sudden upwards price movement or fluctuation.
A sophisticated form of cryptography that allows a user to access his or her crypto-assets.
This is the unique wallet address, which appears publicly as a long string of numbers and letters. It is used to receive crypto-assets into a wallet.
Just like any other industry that has to do with fiat or crypto, the Crypto-verse has big players known as whales. A whale is known to own a large number of coins.
An offline crypto wallet that is considered to be much safer than hot wallets.
An online wallet used to store cryptos.
Initial Coin Offering, or a crypto project going public, offering tokens in exchange for funds.
Know your customer (‘KYC’) is the process of a business identifying and verifying the identity of its clients.
We at CoinMetro think KYC is super-important for building a transparent and verified community, that’s why to be a reliable member of our amazing crypto community, we kindly ask you to submit your KYC. If you still hesitate, our blog post is there to convince you otherwise!
A website that sends small amounts of cryptos and makes profit by means of advertising.
Now that you’re familiar with the most common crypto terms, it’s time to explore the CoinMetro beta exchanges to test the Crypto-ground. Earlier this month, CoinMetro launched Simplex, Intermediate, and Trade View exchanges in Open Beta. All of these are risk-free demo versions. This means you need no real money to sign up and play around.
The weekend starts now!
The CoinMetro Team