Here are 12 key terms every crypto trader should be familiar with:
Cryptocurrency:
Digital or virtual currencies that use cryptography for secure transactions.
Bockchain:
A decentralized and distributed digital ledger that records all transactions across a network.
Wallet:
A digital tool that allows you to store, send, and receive cryptocurrencies.
Exchange:
An online platform where you can buy, sell and trade cryptocurrencies.
Market Cap:
The total value of a cryptocurrency calculated by multiplying its current price by its total circulating supply.
Volatility:
The degree of price fluctuation in a cryptocurrency which can impact trading decisions.
Bull Market:
A period of rising prices and positive market sentiment.
Bear Market:
A period of declining prices and negative market sentiment.
FOMO (Fear of Missing Out):
The fear of missing out on potential profits which can influence trading behavior.
FUD (Fear, Uncertainty, Doubt):
Negative information or rumors that can create uncertainty and drive down prices.
HODL:
A term derived from a typo of "hold," meaning to keep and not sell your cryptocurrencies despite market fluctuations.
Altcoin:
Any cryptocurrency other than Bitcoin, which is often used to refer to newer or alternative coins.
These terms will help you navigate the world of crypto trading more effectively.
