May 23

Cryptocurrency Terms You Must Know (T-Z)

Hooray for getting this far in your cryptocurrency investing journey! Give yourself a pat on the back for being determined and hardworking learners!

In this last section of the cryptocurrency glossary, you’ll learn another 30+ terms which will help you understand this space more. Are you ready to dive in?

T

Taint: The percentage of a certain cryptocurrency in a certain amount that you can trace to another account.

Taker: An investor who buys or sells cryptocurrency using a market order. 
A market order is an order to purchase or sell cryptocurrency at its present price. Instead of buying cryptocurrency using a market order, you can use a limit order to help you buy or sell at a more favorable price. See Limit Order.

Tank: A big drop in cryptocurrency price.

Bitcoin tanked 50% in 9 days. Were there signs of weakness? Read about it in our Market Analysis.

Technical Analysis (TA): A method of analyzing cryptocurrency using charts, indicators, support and resistance, and other charting tools to understand market behavior and predict future price movement. 
In technical analysis, news, business outlook, economic conditions, and sentiment are believed to be reflected in the price of any cryptocurrency.

Testnet: A blockchain which is being tested.

Think Long Term (TLT): Thinking in years as opposed to days or weeks.

Throughput (or Transactions Per Second): The speed of transactions that are verified and added to a blockchain.

Ticker: The trading symbol of a cryptocurrency.
Eg. BTC is the ticker for Bitcoin, while DOT is the ticker for Polkadot.

Timelock: A condition for a transaction to be processed at a certain time or block on a blockchain.

Timestamp: The date and time a transaction was confirmed.

Tor: A decentralized network that keeps user’s identity anonymous.

Trade Volume: The amount of cryptocurrency that has been traded in the past 24 hours.

Transactions Per Second (TPS): See throughput.

Trustless: A trustless environment is one which parties involved in a transaction don’t have to trust each other.

Two-factor Authentication (2FA): An access method which requires 2 different authentications. 
Your 2FA could be sent via SMS, email, or a 3rd party app such as Google Authenticator. 
See SIM-swap to discover the importance of having your 2FA sent to a 3rd party app.

U

Unbanked: People who don’t have access to financial services.

Unpermissioned Ledger (Permissionless Ledger): A public blockchain. 
Find out what the 3 main blockchain types are and their uses here.

User Interface (UI): The interactions between users and software.

V

Validator: A participant on a proof-of-stake (PoS) blockchain who verifies transactions. Validators are rewarded in the cryptocurrency of the blockchain they participate in.

Vaporware: A cryptocurrency project that isn’t developed.

Venture Capital: Investment funds for small start-ups which are touted to have explosive growth.

Vitalik Buterin: The iconic co-founder of Ethereum who recently became a billionaire from his cryptocurrency holdings.

Vladimir Club: A status given to an investor who owns 0.01% (or more) of the maximum supply of a cryptocurrency. 
Eg. The maximum supply of Bitcoin is 21 million. Hence, you’ll need to own 2,100 Bitcoin to be a member of the Vladimir Club.

Volatility: The measure of price movement of a cryptocurrency. The more volatile the price of a cryptocurrency is, the larger the movement of its price.

Volume: The amount of a cryptocurrency that’s been traded in a specified period of time. 
Did you know that the volume indicator on stocks and cryptocurrency works the same way? What are the 2 powerful applications of the volume indicator?

W

Wallet: A place where investors can store, receive, and send cryptocurrency. 
Cryptocurrency wallets come in 2 forms – hot and cold. What are the benefits of each type of wallet? Discover which wallet is the most suitable for you needs here.

Weak Hands: An investor who panic sells at the first sign of a price decline.

Wei: The smallest denomination of Ether (cryptocurrency of Ethereum). 1 Ether = 1,000,000,000,000,000,000 wei.

Whale: An investor or organization that holds a huge amount of cryptocurrency, often enough to cause a price impact.

When Lambo: A slang referring to when a cryptocurrency investor will be rich enough own a Lamborghini.

When Moon: A slang referring to when the price of a cryptocurrency will shoot upwards.

Whitepaper: A document outlining and explaining the workings of a blockchain and cryptocurrency project. 
How do Bitcoin’s and Ethereum’s whitepaper look like?

Wick: A wick is the price range above the open and close of a cryptocurrency’s candlestick.

Did you know that candlesticks are rich in details? What can you infer from them? Discover all about candlesticks here.

Wrapped: A wrapped cryptocurrency allows it to be used in another blockchain. The wrapping of a cryptocurrency doesn’t affect its value. 
Eg. Bitcoin can only be used on Bitcoin’s blockchain. For Bitcoin to be used on the Ethereum blockchain, it has to be wrapped (BTC -> WBTC). 
And 1 BTC = 1 WBTC.

Y

Yield Farming: Investing cryptocurrency in decentralized finance (DeFi) markets to earn interest.

Z

Zero-knowledge Proof: A method of proving that a transaction or event occured without revealing any private details.

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