Glossary
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Cold storage
Cold storage or cold wallet refers to storing one’s public and private keys linked to cryptocurrency assets in a safe offline environment. In the past few years, the popularity of cryptocurrencies has risen dramatically attracting hackers and scammers. That is why using cold storage is essential, especially for substantial long-term cryptocurrency investments. The absence of -
Cryptocurrency wallet – All you need to know
A cryptocurrency wallet stores user’s virtual currency and enables him or her to operate with it. It also keeps a record of all transactions carried out. A digital currency wallet does not store the cryptocurrency itself. In fact, it only contains a matching set of a private key along with a public key of its -
Blockchain – Simply explained
The purpose of blockchain is to make a safe and direct connection between buyers and sellers when making transactions without the need of the middleman (in most cases the banks). The term Blockchain comes from a block which is a record of new transactions and a chain which is the place where the block is -
Altcoin
An altcoin is any cryptocurrency but Bitcoin.
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Flippening
The flippening is a term to describe a moment when Ethereum surpasses the market cap of the world’s number one cryptocurrency – Bitcoin. Interesting fact: The process when the third most valuable cryptocurrency by market cap – Ripple takes over Bitcoin is called “The Rippening”.
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Fiat currency
Fiat currency can be Sterling, Dolar, Euro or any other legal tender that the government has declared. The value of fiat currency solely depends on the stability of the government and the economy of countries in which it is used. Fiat currencies have their value only because everyone involved agreed on it. If people lose faith in fiat -
Whale
A whale is a term to describe an individual investor or an entity that owns a large amount of a particular cryptocurrency.
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Pump and dump
Pump and dump (P&D) is an illegal activity when wealthy individuals buy a certain cryptocurrency when the price is low, promote the investment and afterwards dump all purchased coins when the price is high. These actors consist of well-organised individuals, sometimes aided by a whale. They usually choose low trading volume cryptocurrencies so they could easily dictate its -
ICO = Initial Coin Offering
ICO, Initial Coin Offering, is a crowdfunding event in which a company (usually a startup) collects money from the public in order to finance its further development and expansion, perhaps to create a new coin, app or service. Investors who like the project of the company and participate in the ICO by investing their money, receive -
Cryptocurrency token
Cryptocurrency tokens are a subcategory of protocols. Crypto tokens are built on certain platforms that are already successfully running. For example, on the Ethereum network operate cryptocurrency tokens Golem (GNT), Augur (REP), Iconomi (ICN) and many others. The Ethereum technology hosts probably the biggest number of crypto tokens, but there are also other popular networks
