Primary Guide to the 4 Major Currencies in the Current Market
๐ฐ $BTC: The leader of the cryptocurrency market. Buy Bitcoin when you don't know what to buy.
๐ธ $ETH: The leader of the cryptocurrency ecosystem. If you understand the concept of value currency but are unsure what to buy, get ETH.
๐ $SOL: If you believe in value currency but think ETH has no future, consider buying SOL.
๐ฆ $BNB: The leader of crypto trading platforms. If you want to purchase platform coins but donโt understand their mechanisms or history, buy BNB.
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Blockchain Basics
๐ Blockchain: A decentralized ledger that records transactions by individual nodes.
๐งฑ Block: A page in the ledger.
๐ Block height: Ledger page number.
๐ White paper: A detailed introduction to the project, including background, technical vision, and occasionally team info.
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### Key Terms
๐ก Whitelist: Early project options offered at a lower price. Watch out for whitelist scams!
๐ Mint: Exchange or cast, often used in NFT scenarios.
๐ผ๏ธ NFT: Small digital images that can be exchanged for money.
๐ฌ Telegram: The software Telegram.
๐๏ธ CEX/DEX: Centralized vs. decentralized exchanges. CEXs are entity-operated with widespread info.
โก FOMO: Fear of missing out on market opportunities.
๐จ FUD: Spread of usually unconfirmed negative news.
4๏ธโฃ "Ignore FUD": A motto from CZ, meaning ignore fear, uncertainty, and doubt.
โฝ GAS: On-chain transaction fee.
โ ๏ธ CX: Abbreviation for pyramid schemes.
๐ฒ Degen: Speculators or on-chain gamblers.
๐ DYOR: Do your research; a disclaimer from influencers and analysts.
๐ Adding positions: Buying more of an existing target.
๐ Unwinding: Returning the capital.
๐ฐ Value capture: How much a project benefits its tokens.
๐ฎ GameFi: Embedding economic systems in games to attract gamblers and speculators.
๐ KYC: Real-name authentication.
๐ Investment research: A broad term covering project mentions.
๐ฎ Oracle: Calls on traditional internet data resources.
๐ค A pattern: Profiting while holding.
๐ Get stuck: Holding during losses.
๐ MEME: A randomly created token, often active and fully circulated online.
๐ง Cold wallet: A wallet stored offline.
๐ฅ Hot wallet: An online wallet storing private keys/mnemonics.
๐ Mnemonics: Words that help you remember private keys.
๐ Private key: Similar to a bank card password.
๐ Public key: A wallet address.
๐ Impermanent loss: Value loss when withdrawing from a pool due to price changes.
๐ ๏ธ Primary market: Early stage, mainly for investment institutions.
๐น 1.5-level market: Early-stage project with on-chain chips but not yet on centralized exchanges.
๐ Secondary market: Entering the centralized exchange stage.
๐ง Liquidity: The ability to convert assets to cash without affecting market price.
โ๏ธ Liquidity mining: Earning fees by providing funds for liquidity.
๐๏ธ DAO: Distributed organization, community with rules and structure.
๐ต OTC: Over-the-counter transactions, completed outside platforms.
๐ด OG: "Elder" or "earliest" participants.
๐ฒ Pixiu: A coin that can be bought but not sold.
๐ Left-side trading: Guessing market bottom/top for a reversal.
๐ Right-side trading: Following the trend.
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### Stay Informed and Make Smart Moves!
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