Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Bitcoin ETF

Short for Bitcoin Exchange-Traded Fund. A financial asset that is tied to Bitcoin price, allowing its holder to benefit from Bitcoin price fluctuations without having to store and trade Bitcoin itself.

Other Important Terms

Cryptocurrency Wallet

Cryptocurrency wallet – A medium of accessing and controlling user’s cryptocurrency. Contrary to a common misconception, cryptocurrency wallet does not store any cryptocurrency; it just grants user access to a certain amount of cryptocurrency associated with the wallet. A wallet stores user’s private keys. There are two types of cryptocurrency wallets: physical and virtual.

Pump And Dump

Pump and Dump – a fraudulent scheme. Involves artificially increasing the price of a certain cryptocurrency just to sell it before the "bubble" bursts. Is accountable for sudden spikes in cryptocurrency price charts.

Address

A unique identifier serving as a virtual location where the cryptocurrency can be sent.

Leverage

Leverage in financial market trading; refers to the use of borrowed capital to increase the size of one’s position to potentially increase profits. Also used as an investment strategy, to increase the potential return of an investment. A common type of leverage trading in crypto is margin trading, which involves putting assets up as collateral to increase purchasing power.

DAO

DAO – short for Decentralized Autonomous Organization. It is an organization governed by the rules encoded as a computer program. DAO is transparent, controlled by shareholders and not influenced by a central government.

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