Technology

Top 10 Bitcoin Terms You Need To Be Aware Of In 2021

3 Mins read

Introduction

The cryptocurrency market is fairly young compared to the old traditional market. This is the reason why people are not convinced of its authenticity. The Cryptocurrency trade market is fairly popular among the millennials and Z generation. For the millennials, Cryptocurrency holds the possibility to fight the instability of the traditional market. And for Generation Z or Zillennials, it is a new technology worth trying.

Cryptocurrency is considered an asset class, which means people are more interested in investing rather than using it as digital currencies. If that being the case and you being one of the investors who want to invest in the Cryptocurrencies, it becomes very important that you have adequate knowledge before you can step into the Crypto trading market.

Cryptocurrency is a fairly new and less experienced market than the traditional market, so it becomes necessary to do your homework first.

Conducting research on the Cryptocurrency might require a would-be investor to explore the uncertainties of the market. Out of all the areas that one needs to explore first is Terminology. When we talk about the Cryptocurrency trade market, many lingo terms are not known to traditional investors.

In this article, we will be going to explore the terms used in Crypto trade marketing.

Bitcoin Terms That You Need To Be Aware Of

The Bitcoin industry is always full of surprises. Its Terminology can say the same things. Here we have enlisted some of the terms that you might not be aware of.

1. ATH

ATH stands for “All-Time High.” This term is one of the most common terms used in the Crypto trade market to track down the Cryptocurrencies. Crypto assets are always volatile, so keeping their ATH value in your mind will be helpful while making trades.

2. Bear

Bear is the term that is used for the assets which might reduce in value. For instance, if a Crypto trader thinks that the respective Crypto assets will depreciate, the phenomenon will be called Bear/Bearish.

3. Bull

It is opposite to that of a bear. If a trader thinks that the respective Crypto assets’ value will increase in the future, then the phenomenon will be called Bull/Bullish.

4. Consensus

The consensus is the term used for the miners’ agreement after evaluating the data shared in the network. This is very crucial for every node as it authenticates the transfer.

5. DDoS Attack

DDoS stands for Distributed Denial Of Service. It happens when multiple parties work together to outperform the system by inundating with malicious content. To put it simply, this process is used by fraudulent users to restrict a server from providing the necessary services.

6. Escrow

Escrow is the term used in the Crypto trade for the third parties that hold the assets of the other parties. This happens when the transaction is made between people who do not trust each other. When a transaction occurs, one party keeps all its assets to a third party to restrict fraudulent activities.

7. FOMO

FOMO stands for “fear of missing out.” This happened when the traders started buying the assets based on seeing a price hike in the future. This process leads to the flocking of investors on one particular asset leading to sharp market gains.

8. DeFi

DeFi is the abbreviation of Decentralised Finance. It is an umbrella term that has been used for all kinds of decentralized transactions in the market.

9. FUD

Fear, Uncertainty, and Doubt come together to form FUD. The idea behind the FUD is that the market participants spread false information that causes price fluctuation. This happens when a trader wants the market to perform in a certain way so that they can enter the market for a profitable short term investment.

10. Moon

Moon is the term used in the market for the rise in the price of the assets. For example, if an asset sees an increase in the price, traders and investors start talking about other asset’s moon.

The Bottom Line

Investors who are thinking of investing in Cryptocurrency need to be aware of their relevant Terminology to stay ahead in the market. It might be challenging at the start, but you can certainly pull it off with the right research work. The Crypto trade market is directly proportional to the trends, so always keep yourself updated with the new terminology. For instance, bitcoin era is the new term that is buzzing in the market. Apart from this term, what other buzzing new terms do you know? Let us know in the comment section.

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