I am starting crypto educational content series for beginners/new traders. My intention is to spread the knowledge of crypto among the people who are still not aware about crypto.
Crypto Terminology
- FIAT Currency – it is government issued currency. Example – US dollar, Euro, INR, Canadian Dollar, Singapore Dollar, Yuan ETC. It is controlled by respective country governing body
- Bitcoin – First Blockchain based cryptocurrency. It can be bought/sold in exchange.
- Altcoin – Alternate coin. Other than bitcoin, all crypto coins are called altcoin.
- ICO – Initial Coin Offering, It is similar to IPO in share market. Crypto startup will offer coin/token at discounted price for earlier buyer before listing into exchange.
- Exchange – Online Website/Platform where we can buy and sell crypto-currencies. It’s functioning is same as stock exchange website (to trade shares) but for trading cryptocurrency. Example – Binance, Coinbase, Bitfinex
- Long – Traders are speculating about price rise and buying the crypto at low price and will sell later at high price.
- Short – Traders are speculating about price going down and selling the crypto at high price and will buy later at low price.
- Bullish – Speculation about price to rise. Overall Market sentiments positive and traders will go for Long Trading
- Bearish – Speculation about price to decrease. Overall Market sentiments negative and traders will go for short trading
- Whale – Person who has big share of bitcoin or alt coin. whale may move the market and manipulate it by buying or selling a big quantity in exchange.
- ATH – All time high. Highest price of coin has ever achieved.
I will continue the content in my next post.
