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The Ultimate Guide to Understanding Crypto Terms
7 min read
7 min read
2025.04.08
- Altcoin: Any cryptocurrency other than Bitcoin.
- ATH All-Time High: The highest ever price that a given cryptocurrency has reached.
- ATL (All-Time Low): The price of a certain cryptocurrency at its lowest point in history.
- Bull Market: An upward-trending market.
- Bear Market: A market trend inclined for prices to drop.
- Blockchain: An immutable digital ledger where all transactions are logged and verified.
- Block: A transaction set recorded on the blockchain.
- Block Reward: The reward miners receive for successfully mining a valid block.
- dApp (Decentralized Application): Applications that run on a blockchain without relying on a central authority.
- DAO (Decentralized Autonomous Organization): An organization in which decision-making occurs automatically through rules encoded as smart contracts and which does not have centralized leadership.
- Decentralized: A system where no single entity has complete control.
- DeFi (Decentralized Finance) refers to financial services that operate without input from traditional establishments such as banks and rely on blockchain technology.
- DYOR (Do Your Own Research): Encouragement to research and understand specific aspects of the crypto market before investing in crypto.
- ERC-20: A technical standard for creating tokens on the Ethereum blockchain.
- ERC-721: A technical standard used to create non-fungible tokens (NFTs) on the Ethereum blockchain.
EVM (Ethereum Virtual Machine): The computation engine that executes smart contracts and decentralized applications (DApps) on Ethereum.
- Fiat: Conventional currency decreed by the government, such as dollars, euros, pounds, etc.
- FOMO (Fear of Missing Out): Originally a term drawn from outside of the crypto landscape, but it still encapsulates fear of missing out on opportunities that result in impulse decisions in investing.
- Halving: A 50% reduction in the reward given to miners, typically in proof-of-work blockchains, that occurs approximately every four years and is intended to control inflation. While it can occur with any cryptocurrency, Bitcoin consistently uses it.
- HODL: Crypto slang that means to hold onto your cryptocurrency for long periods or through turbulent times instead of selling it.
- KYC (Know Your Customer): The act of verifying customer identity either during the registration on a crypto exchange or before a specific transaction.
- Ledger: A record of all transactions, typically used in relation to a blockchain.
- Liquidity: A measure of how easily one can sell or buy an asset without it strongly influencing the price.
- Limit Order: An order to buy or sell an asset at a specified price or better on the stock exchange.
- Market Cap (Market Capitalization): Total market value of a coin or token in circulation, obtained by multiplying the total circulating supply by the current price.
- Mining: The mechanism by which transactions are confirmed and added to the blockchain.
- Mining Pool: A group of miners who work together to increase their chances of earning block rewards.
- NFT (Non-Fungible Token): A unique digital asset recorded on blockchain designed to verify possession of a digital object, such as art or collectibles.
- Network Fees: These are the fees paid to miners for validating and including your transaction in the blockchain.
- Node: One of the computers in a blockchain network that works as a transaction moderator.
- Private Key: Essentially, a password that allows you to access and control your cryptocurrency.
- POS (Proof-of-Stake): A mechanism where entities that hold more cryptocurrency, aka validators, have a better chance of being chosen to create new blocks in the blockchain.
- POW (Proof-of-Work): A mechanism where miners compete to solve complex puzzles the fastest in order to access the creation of new blocks in the blockchain.
- Public Key: Similar to a username, a public key is a code that enables others to identify you in the system and send you cryptocurrency.
- Smart Contracts: A computer program that automatically completes a deal once the required conditions are met.
- Token: A digital asset built on top of an existing blockchain that can serve many purposes, such as: access to a service (utility tokens), ownership in a project (security tokens), voting power within a decentralized organization (governance tokens), etc.
- Validator: A participant in a blockchain network that has to validate and add transactions to the blockchain.
- Volatility: How often and by how much the cryptocurrency's price moves over time.
- Wallet: A digital or physical (e.g., hardware) tool that allows you to store and manage your cryptocurrency.
- Whale: An individual or entity that holds a large amount of cryptocurrency, usually owning at least 10% of the total amount.
White Paper: A kind of project manifesto, a white paper is a detailed document defining the tech behind a cryptocurrency project, its purpose, and how it works.
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