What I wish I had when I started
I have put togeather a list of items and terms that are esental to navigate and understand. Click on each item to get detailed explanation and better understanding. Here you will find videos from a variety of teachers and leaders in the cryptocurrency space.
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The term "altcoins" refers to all cryptocurrencies other than Bitcoin. As of October 2021, altcoins accounted for nearly 60% of the total cryptocurrency market, with more than 12,000 cryptocurrencies and counting.
An airdrop is a distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses. Airdrops are primarily implemented as a way of gaining attention and new followers, resulting in a larger user-base and a wider disbursement of coins.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.
To buy cryptocurrencies, you’ll need a “wallet,” an online app or a hardware device that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as Bitcoin or Ethereum. It is also important to understand and do your own research to understand what you are buying.
Centeralized vs Decentralized
Centralized organizational structures rely on one individual to make decisions and provide direction for the company. ... Decentralized organizations rely on a team environment at different levels in the business. Individuals at each level in the business may have some autonomy to make business decisions.
DeFi - Decentralized Finance
Decentralized Finance is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum.
DEX - Decentralized Exchange
A decentralized exchange (DEX) is a peer-to-peer (P2P) marketplace that connects cryptocurrency buyers and sellers. In contrast to centralized exchanges (CEXs), decentralized platforms are non-custodial, meaning a user remains in control of their private keys when transacting on a DEX platform.
Dox / Doxxed / Doxing
Doxing or doxxing is the act of publicly revealing previously private personal information about an individual or organization, usually through the Internet. Methods employed to acquire such information include searching publicly available databases and social media websites, hacking, and social engineering.
Echosysten - Crypto
The definition of blockchain ecosystems basically points to a group of elements capable of interacting with each other and the surrounding world for creating an environment with desired special features. You can also define a blockchain ecosystem as the agreed-upon governance structure for a specific use case.
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Amongst cryptocurrencies, Ether is second only to Bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin.
Exchange - Cryotocurrency
A cryptocurrency exchange, or a digital currency exchange, is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies.
Fiat money is a currency established as money, often by government regulation. Fiat money does not have intrinsic value and does not have use value. It has value only because a government maintains its value, or because parties engaging in exchange agree on its value.
Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain. "Gas limit" refers to the maximum amount of gas (or energy) that you're willing to spend on a particular transaction. A higher gas limit means that you must do more work to execute a transaction using ETH or a smart contract.
Hold On for Dear Life
It is important understand what you are investing in and the risks vs rewards associated with your investments.
ICO - Initial Coin Offering
An initial coin offering or initial currency offering is a type of funding using cryptocurrencies. It is often a form of crowdfunding, although a private ICO which does not seek public investment is also possible.
NFT Non-Fungible Token
A non-fungible token is a unique and non-interchangeable unit of data stored on a digital ledger. NFTs can be used to represent easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items, and use blockchain technology to establish a verified and public proof of ownership
Open Source Software
Open-source software is computer software that is released under a license in which the copyright holder grants users the rights to use, study, change, and distribute the software and its source code to anyone and for any purpose. Open-source software may be developed in a collaborative public manner.
Proof of Stake
Proof of stake protocols are a class of consensus mechanisms for blockchains that work by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency. Unlike a proof of work protocol, PoS systems do not incentivize extreme amounts of energy consumption.
Proof of Work
Proof of work is a form of cryptographic zero-knowledge proof in which one party proves to others that a certain amount of a specific computational effort has been expended. Verifiers can subsequently confirm this expenditure with minimal effort on their part.
In the cryptocurrency market, the term “rug pull” means a theft in which the owners of a cryptocurrency project abandon it after stealing investor money. The term vividly conveys the feeling of investors who were promised a bright future in cryptocurrency riches.S
Watch this video to find out what you need to send and receive Bitcoin or Bitcoin Cash, and how exactly you can do it.
Although many retailers don't yet accept the cryptocurrency as a payment method, there are ways to make it work.
The term shitcoin refers to a cryptocurrency with little to no value or a digital currency that has no immediate, discernible purpose. ... As such, these currencies are considered to be bad investments.
Store your crypto
Keep your cryptocurrency investments safe. Are you aware of all the options and nuances? Have you profiled your needs? Is your crypto safer on apps or exchanges ...or is it better if you take control of your own storage?
Crypto tokens are a type of cryptocurrency that represents an asset or specific use and resides on their blockchain. Tokens can be used for investment purposes, to store value, or to make purchases.
Tokenomics is the science of the token economy. It covers all aspects of a coin's creation, managment, and sometimes removal from a network.
A crypto wallet is a digital safe for your crypto. More accurately, it’s an interface for interacting with the blockchain.
A whale is a cryptocurrency term that refers to individuals or entities that hold large amounts of a cryptocurrency. Whales hold enough cryptocurrency that they have the potential to manipulate currency valuations.