🪙💰Cryptocurrency is digital money based on a special digital software code.
🪙♉Altcoins (alternative coin) are absolutely all cryptocurrencies except Bitcoin, i.e. all those that appeared after its creation.
💵Fiat (from the Latin "fiat" - let it be) - this is the name of currencies (dollar, pound etc), which are issued by the state and are not backed by gold or other physical commodity.
🟥🟩🟪🟨Blockchain - technology organizing a database consisting of a chain of blocks arranged according to certain rules. Each cell of a block carries information about the previous cell. This technology is based on the principle of decentralization, that is, the base is not in one place, and in all the computers of the system participants, which form a network. Thus blocks cannot be replaced or hacked because all computers would have to be hacked to do so.
⛽Gas is the cost that is charged for a transaction. For the average user, it is like a commission.
🪙A coin is a digital asset that is built on its own blockchain.
For example, Bitcoin and Ethereum.
🪙Tokens are also digital assets, but run on an existing blockchain.
For example, USDT (Tether) runs on the Ethereum blockchain.
⚒️Mining is the extraction of cryptocurrencies running on a blockchain network. Mining uses the computing power of a computer, a person does nothing with his hands. Someone who earns cryptocurrency this way is called a miner.
🚜A farm is all the mining equipment that miners use to mine the cryptocurrency. It can be as huge facilities the size of several soccer fields, as well as home assemblies of a few video cards.
📝A smart contract is a special program in a blockchain network run by all nodes and helps cryptocurrency owners interact with each other. All the terms and conditions of these contracts are written on the blockchain. No one can cheat, hack or bribe a user, thereby violating the terms of the smart contract.
⚠️Scam - is when the project, ceases to fulfill its obligations to the investor.
For example, if some bank "burst" and depositors lose money, it can be called the word "scam".
👺NFT (non-fungible token) - a unique digital certificate, which is stored in the blockchain, guarantees the originality of the object and gives exclusive rights to it.
💰Hodl (hold) - a strategy in which cryptocurrencies are held to the last, without selling them. Those who hold BTC until the last moment are called hodlers. The term first appeared in 2013 on the Bitcointalk forum. One of the participants in his post urged everyone to hold their Bitcoins to the last and made a mistake in the word hold ("hodl"), so the word "hodl" caught on.
A hodler 🤏(holder) is an investor who holds his assets for any situation on the crypto market.
🔺🅾️DeFi (Decentralized Finance) is a financial industry that is built on a blockchain without intermediaries or governing bodies.
Simply put, DeFi makes finances available to anyone: users conduct transactions and solve financial issues directly with each other, rather than through intermediaries like banks and other regulatory organizations. Unlike a bank or brokerage account, DeFi requires no ID or proof of address.