Crypto Dictionary: What Everyone Needs to Know

Oh, new to the crypto world? 🤔 Do you feel like you're in a forest where everyone is speaking some foreign language? Don't worry — we'll figure it out together!

Blockchain is like a super-secure book of history

Imagine: in front of you is a huge ledger where every transaction is recorded. The information is stored in “blocks” that are linked like a chain. Changing records there is practically impossible — the entire system won't allow it. It's like a sealed package that no one can open without a password.

Bitcoin (BTC) — the “gold” of the digital world

The first and most important crypto. BTC plays a role as a benchmark, like gold in the traditional economy. You can buy goods with it, invest money, or simply hold it in your portfolio. The fact is that everyone recognizes it as valuable — and that is what makes it expensive.

Altcoins — all others except for könig.

Every crypto after Bitcoin is an altcoin. There are thousands of them. Each has its creators, its purpose, its pros and cons. In short: Bitcoin is the king, altcoins are its vassals.

Mining — work for powerful computers

Miners launch expensive systems to solve complex mathematical problems. In return, they receive new crypto-coins. It's like electricity in a network: without it, the system doesn't work, transactions don't go through, the blockchain stands still.

Wallet — your crypto safe

A program or device for storing, sending, and receiving crypto. They can be hardware (physical), software, online, and even paper. Think of it as a bank card, but with a much higher level of security.

Private keys are the password to your life.

Secret codes that grant access to your wallet and your coins. NEVER share them with anyone — neither friends nor support. It's like a password for social media, but much more serious.

Exchange — a marketplace for crypto

A platform where you exchange one coin for another or for regular money. Gate, Kraken, Coinbase - these are exchanges. Millions of transactions take place here daily.

HODL — we hold and do not panic

“Hold” (hold) — this is a long-term strategy. You buy the coin and don’t touch it for 5-10 years. The weather fluctuates, but you don’t trade panically at every drop. HODL is about patience.

FOMO — the name of the worst enemy

Fear Of Missing Out (FOMO ). This is when you see a coin flying up, and all the blood boils: “Oh God, I could have made money!” And you blindly throw money into the first temptation. The result? Bought at the peak, sold at a loss. FOMO is a trap for beginners.

DYOR — think with your head

“Do Your Own Research” — conduct your own research. Don't believe everything you read in chats, Telegrams, and social media. Verify the information, understand what you are getting into, and only then click “buy”.

The essence is simple: crypto is not magic, it is technology. The more you understand the terms, the smarter decisions you make. Learn, ask questions, experiment. Wishing you a great entry into the crypto world! 👋