Bitcoin Glossary Terms and Phrases
If you are new to the Cryptocurrency trading world or just confused by some of the terms bitcoin traders use in the online forums or chat groups, our Bitcoin Glossary can help you with a simple explanation of the meanings for some of the most commonly used terms. We made this page available as a Bitcoin Cheat Sheet in PDF document format for easy saving or printing.
Contact us if there are any we missed so we can add them to our Bitcoin Glossary!
Our Bitcoin Glossary offers the most common cryptocurrency terms, important for everyone to understand:
✔️ #AIRDROP an issuance of coins or tokens from a cryptocurrency, often in return for promoting their asset via social media such as your Twitter or Facebook account. It usually involves following their social media accounts, joining a Slack or Telegram chat group and then filling in a Google Form with your details. Each one differs in requirements so read their Form or Bitcointalk forum posting for what you need to do to get the airdrop.
✔️ #ALTCOIN abbreviation for "alternative coin" which means any cryptocurrency other than Bitcoin
✔️ #[ANN] Announcement of a new cryptocurrency on the bitcointalk.org forum
✔️ #ASHDRAKES - a situation where you lost all your Bitcoin or money. Legend has it that someone with an online username of Ashdrake was a Bitcoin Miner who sold all his Bitcoin before the price went to thousands of dollars. Here is the story
✔️ #ATH #ALLTIMEHIGH a coin a set a new high point in its price history
✔️ #ATOMICSWAP instant trade between 2 cryptocurrencies without the need for an exchange or middle-man.
✔️ #BAG #BAGHOLDER - a person who buys and hold coins in large quantity hoping to make good profits in the future. You are keep a "bag" of coins.
✔️ #BEAR #BEARISH Negative price movement. Price is predicted to be going down, market is not favourable.
✔️ #BLOCKCHAIN the authoritative record of every Bitcoin transaction that has ever occurred
✔️ #BREAKOUT - a coin is starting to see positive price movement
✔️ #BTFD Buy The F*cking Dip! An indication to buy a coin at a time where the price has dipped to a low point
✔️ #BTC abbreviation for the Bitcoin currency. See also XBT
✔️ #BULL #BULLISH Positive price movement. Price is predicted to be going up!
✔️ #CMC Coin Market Cap - market capitalization of cryptocurrencies made popular by the website coinmarketcap.com
✔️ #COIN Cryptocurrency with its own block chain. There are no real coins it's just a familiar term used to associate to Bitcoin. See TOKEN
✔️ #COLDSTORAGE the storage of Bitcoin private keys in any fashion that is disconnected from the internet. Typical cold storage includes USB drives, offline computers, or paper wallets.
✔️ #CRYPTO abbreviation for cryptocurrency
✔️ #CRYPTOCURRENCY a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank or government. Bitcoin is the first cryptocurrency
✔️ #DILDO Long green or red candles on a candle chart.
✔️ #DUMP Massive market movement to sell off a coin. Can drop 25, 50 or 100% in a short time-frame.
✔️ #DUMPING Downward price movement. Traders selling off their coins in bulk trades.
✔️ #DYOR Do Your Own Research! Don't listen to hype or the opinion of others in chat rooms, research a coin for yourself (before you invest).
✔️ #ECR-20 #ERC20 Ethereum Token standard that allows for the implementation of a standard API for tokens within smart contracts. This standard provides basic functionality to transfer tokens, as well as allow tokens to be approved so they can be spent by another on-chain third party. Designed to provide a standard interface that allows any tokens on Ethereum to be re-used by other applications, from wallets to decentralized exchanges.
✔️ #EXCHANGE a place to buy and sell Bitcoin or any other cryptocurrency
✔️ #EXPLORER Website that offers a public view of transactions on the block chain. You can use an explorer to check your wallet balance and transactions without actually opening or having access to your wallet.
✔️ #FA Fundamental Analysis
✔️ #FOMO Fear Of Missing Out! a coin is pumping and you get the feeling it’s gonna pump more, so you buy high (you may regret it later)
✔️ #FUD Fear Uncertainty & Doubt
✔️ #HARDFORK permanent divergence in the block chain. Occurs when nodes intentionally follow newer consensus rules.
✔️ #HODL Hold / Hold a position. Original comes from this post of Bitcointalk forum. Has become Bitcoin folklore.
✔️ #ICO An Initial Coin Offering, also commonly referred to as an ICO, is a fundraising mechanism in which new projects sell their underlying crypto tokens in exchange for bitcoin or ether. Similar to an Initial Public Offering (IPO) in which investors purchase shares of a company. Can be high risk or even a scam with some fraudulent schemes just for a quick money grab. Buyer Beware!
✔️ #JOMO Joy Of Missing Out! sitting back and watching a coin price dump and being happy you didn't buy into it.
✔️ #LONG Margin Bull Position. Take a long view of your investment, no short-term gain expected.
✔️ #MACD Moving Average Convergence Divergence, financial indicator. Can be pronounced as either “Mac-Dee” or “M-A-C-D.” See here for detailed explanation.
✔️ #MCAP Market Capitalization. See CMC
✔️ #MEW My Ether Wallet (.com) a popular free online wallet for Ethereum supporting the ERC-20 standard. Open-source, client-side interface for generating Ethereum wallets A lot of hackers are trying to spoof this website so always get to it via a known link or type in carefully in your browser. http://www.myetherwallet.com Always double-check the URL before unlocking your wallet. Check our page on how to add tokens to MEW
✔️ #MINING #MINER Mining is the act of creating valid Bitcoin blocks, which requires demonstrating proof of work. Miners are devices that mine or people who own those devices.
✔️ #MOON #MOONING Continuous upward movement of price. Price is going up fast to a new all-time high, next stop the moon!
✔️ #NODE #MASTERNODE a participant in the Bitcoin (or other blockchain) network. Share a copy of the block chain and relay new transactions to other nodes on the network.
✔️ #OTC Over The Counter
✔️ #OVERBOUGHT describes a period of time where there has been a significant and consistent upward move in price. Basically, a move from the “lower-left to the upper-right” on a chart. The RSI financial technical is typically used to track overbought and oversold price trends to find buy and sell signals.
✔️ #OVERSOLD describes a period of time where there has been a significant and consistent downward move in price. Basically, a move from the “upper-left to the lower-right” on a chart. The RSI financial technical is typically used to track overbought and oversold price trends to find buy and sell signals.
✔️ #PAPERWALLET where private keys are printed on a piece of paper or other physical medium as a means of cold storage.
✔️ #POS #PROOFOFSTAKE Evidence of Stake infrastructure.
✔️ #POW #PROOFOFWORK A hash below a target value which can only be obtained, on average, by performing a certain amount of brute force work—therefore demonstrating proof of work.
✔️ #PULLBACK is the falling back of the coin price from its peak. These price movements might be seen as a brief reversal of the prevailing trend higher, signalling a temporary pause in upward momentum. Also referred to as a #retracement or #consolidation.
✔️ #PUMP #PUMPING Rapid upward price movement happening right now! May be manipulated by Whales or Pump and Dump Groups
✔️ #PUMP-N-DUMP Where the price and trading volume of a coin increases rapidly and then decreases rapidly after reaching a short-lived high point. May be manipulated by Whales or Pump and Dump Groups. Signified by a large green candle on a candle-stick chart followed immediately by a large red candle.
✔️ #REKT When you have a bad loss. This hurts! and you are feeling wrecked.
✔️ #REVERSE #INDICATOR Someone who is always wrong predicting price movements.
✔️ #RSI Relative Strength Index financial indicator. See here for a detailed explanation.
✔️ #SAJ #Candle Huge green candle
✔️ #SATOSHI(s) The smallest divisible unit of one Bitcoin. There are 100 million satoshis (8 decimal places) in one bitcoin. 1 Satoshi = 0.00000001 ฿ (Satoshi Nakamoto is credited as being the mysterious inventor of Bitcoin).
✔️ #SEGWIT2x a proposed change to the Bitcoin network which intended to improve the speed and cost of Bitcoin transactions. The upgrade was not universally accepted as it may create two Bitcoin block chains via a fork of the Bitcoin network. As of now, the originators have cancelled their plans for Segwit2x due to lack of support and consensus.
✔️ #SHITCOIN - a coin with no potential value or use
✔️ #SHORT Margin bear position
✔️ #SWING zig zag price movement (Upwards & Downwards)
✔️ #TA Technical Analysis - financial technical indicators like MACD, RSI etc.
✔️ #TOKEN Tokens are assets hosted on another cryptocurrency’s block chain, most usually Ethereum. See COIN
✔️ #VOLUME or trading volume, is the amount (total number) of a coin or token that was traded during a given period of time.
✔️ #WALLET Software that stores private keys and monitors the block chain (sometimes as a client of a server that does the processing) to allow users to send and receive satoshis.
✔️ #WHALE Very Wealthy trader / Market mover - holds a large bag of coins
✔️ #WHITEPAPER a document where an ICO or crypto token company lays out its vision, road-map and use case for its token and associated products or features.
✔️ #XBT An abbreviation for the Bitcoin currency. See also BTC