The crypto lexicon - from altcoin to white paper

Crypto terms

The world of cryptocurrencies can be confusing enough. Complicated, incomprehensible terms that you have never heard before do not make things easier. Therefore we look forward to presenting you our "crypto-lexicon". With all the important technical terms you need to get through the crypto world safely!

Altcoins

Altcoins are alternative cryptocurrencies like Ethereum, Litecoin or DASH.

Asset

An asset is a depiction of assets - formerly purely physically, but now also digitally due to digitization.

Bitcoin (BTC)

Bitcoin is the first and best known cryptocurrency that was invented in 2008.

Blockchain

Blockchain means "blockchain" in German and describes the technology behind cryptocurrencies.

Coinbase

Coinbase is a very user-friendly platform on which you can buy Bitcoin and Ethereum directly.

dApps

dApps are decentralized apps. Advantage: the code is open source and data is not stored centrally.

Ethereum

Ethereum is the best-known cryptocurrency after Bitcoin. Most altcoins are based on Ethereum and are so-called ERC tokens.

Exchange

An exchange is a platform where you can exchange your Bitcoins / Ethereum for other cryptocurrencies.

FIAT

In the crypto scene, real money is referred to as FIAT Money compared to digital currencies.

FOMO

Fear of missing out. The fear of missing a rapid rise in a cryptocurrency exchange rate.

Fork

A fork describes the split of a blockchain. Soft fork upgrade a blockchain, hard fork can make two coins out of one coin.

FUD

Fear, Uncertainty and Doubt. Users spread "FUD" over a certain currency to discourage investments.

H. Wallet

A hardware wallet is a physical wallet in which you can store bitcoins. The best known hardware wallet is the Nano Ledger.

HODL

Hold on to Dear Life describes the opposite of a trader. Hodler keep their cryptocurrency no matter what happens.

ICO

Initial Coin Offering: Offers the opportunity to invest in cryptos before they are available on exchanges.

Market Cap

means market capitalization. It is calculated as follows: Value of a coin x number of coins.

Mining

Mining = mining. Mining describes the calculation of bitcoins using CPU / GPU power.

Node

Any computer that connects to a cryptocurrency network. Full nodes control the validity of transactions.

Private Key

The private key, a combination of letters and numbers, provides secure access to its cryptocurrencies.

Reddit

Reddit is one of the most famous forums in the world. For crypto fans there is a sub-forum with over 600.000 members. r / cryptocurreny

Smart Contracts

"Smart contracts" that are stored on the blockchain. Are activated as soon as predefined events occur.

Satoshi

A satoshi (sats) is the smallest unit of a bitcoin. 1 Bitcoin = 100 million Satoshis. The inventor of Bitcoin is called "Satoshi Nakamoto".

Shilling

Shilling describes the phenomenon when people shamelessly and consistently want to advertise a special cryptocurrency and encourage them to buy.

the Shitco

A cryptocurrency with no real value or goal. The project is not considered a sensible investment.

Token

Cryptocurrency that uses an existing platform as a basis. Coins, on the other hand, use their own blockchain.

Vitalik Buterin

Vitalik Buterin is only 23 years old, a Russian by birth and the founder of Ethereum. ETH is the second largest cryptocurrency in the world.

Wallet

The wallet is the digital letter exchange where you keep and manage your cryptocurrencies.

Whitepaper

"Business plan" for coins and tokens. Contains: Use of the coin / token, the technology, the idea and the team.