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You are here: Home / Finance / 15 Cryptocurrency Terms Every Investor Should Know 
15 Cryptocurrency Terms Every Investor Should Know 

15 Cryptocurrency Terms Every Investor Should Know 

October 19, 2021 By Cade Hildreth Leave a Comment

The best way to demystify cryptocurrencies for new investors is to explain the vocabulary around it. Because cryptocurrency represents a new asset class (Bitcoin was created in 2009), most investors who are new to the space will need a primer in its basic terms.

In the U.S. alone, Gallup reports that 6% of investors now own Bitcoin, which is triple (300%) the ownership that existed only three years ago in 2018. The consulting firm added that three years ago, three-quarters (75%) of investors considered cryptocurrency to be an “insecure asset”.

While 60% still consider it a risk today, there is growing awareness, understanding, and acceptance of crypto among investors under the age of 50.

For this reason, this article breaks down the most common terms you’ll encounter and explains exactly what they mean—in simple English. Let’s dive in.

15 Must Know Cryptocurrency Terms

Since the pandemic hit in 2020, cryptocurrency’s popularity among investors and traders has surged. Bitcoin, which was selling for roughly $6000 in March 2020, is trading for more than $60,000 today. That represents an astounding 1,000% gain (10X) in approximately 18 months.

Much of this popularity has been driven by the Fed’s abundant creation of new money, which is driving investors to move into verifiably scarce assets.

With Bitcoin’s total supply capped at only 21 million, it represents one of the most logical assets classes to move into if you want to pair a hedge (protection) against inflation with the potential for robust price appreciation.

If you’re ready to start investing, here at the “must know” cryptocurrency terms that will get you up to speed.

Altcoin

There is a common misconception that Bitcoin is the only type of cryptocurrency, but this simply isn’t true. Alternative coins (“altcoins”) are any virtual currency that isn’t Bitcoin., specifically.

These can include Ethereum (ETH), Cardano (ADA), Ripple (XRP), and Dogecoin (DOGE), as well as thousands of others.

Bitcoin

First introduced in 2009, Bitcoin is the most popular cryptocurrency and the coin that started it all. It has the biggest market share among cryptocurrency coins, closely followed by Ethereum and Cardano.

As of this writing, one Bitcoin is worth $61,800, as compared to its eight cent ($0.08) value when it first started trading in 2010. That’s an impressive change!

Block

A block is like a file that records transactions in the blockchain, which is the technology behind cryptocurrency.

Blockchain

At its core, a blockchain is a database of large amounts of information stored in blocks that can be accessed by several users.

Think of it as a timestamped spreadsheet that is magnified in size.

Cryptography

“Crypto” is rooted in the Greek word “kryptos” which means “hidden”, while “graphy” is derived from the word “graphein” which means to “write”.

Cryptography literally means to write in secret, which lends to the secure communications that power the blockchain.

Simply put, this mathematical practice is the encryption of data in the blockchain.

Cryptocurrency

You might already be able to tell that cryptocurrency, like Bitcoin and Dogecoin, is a digital or virtual currency that operates on blockchain technology.

Like fiat currency (e.g. USD, GBP), crypto is designed as a medium of exchange. Beyond investing in cryptocurries, you can use cryptocurrencies like Bitcoin or altcoins to pay for goods and services.

Crypto Exchange

The cryptocurrency market operates just like other financial markets. Investors and traders buy and sell coins through an exchange platform, with Wealthsimple explaining that a crypto exchange is similar to a stock exchange.

Most of the crypto trading volume happens through these exchanges, which is estimated to be billions of dollars every day.

Examples of crypto exchanges include Binance, Huobi, and Coinbase, some of which have their own coin. For instance, Binance coin or BNB can be used to pay for transactions on the platform, while USDC is Coinbase’s own stablecoin.

Decentralization

The blockchain is described as decentralized, which means no single entity has control of the network. Instead, it is operated by a network of people dispersed worldwide, all of who have equal control.

This digital technology allows users to transact directly without a traditional (centralized) exchange, like a bank.

Fungibility

You might have heard of the word ‘fungible’ in recent months from the new term Non-Fungible Token or NFT. Fungibility simply means interchangeability.

An example of this is cryptocurrency, as coins can be traded for one another. Another example of fungibility is fiat currency (like USD), which can also be used to pay for goods and services.

Initial Coin Offering (ICO)

If you’ve heard of an IPO (initial public offering) in the stock market, then an ICO (initial coin offering) holds the same purpose: to raise funds for a new cryptocurrency.

A company does this by launching a coin into the cryptocurrency market, thereby allowing investors to buy, own, and sell it.

Immutability

Immutability means not being subject to modification.

The blockchain is immutable, which means data stored in it cannot be altered, falsified, or manipulated. This makes it extremely secure.

Keys

To transact in crypto, you need public and private keys. A public key is essentially an address that lets you receive coins, while a private key is a unique password that allows you to access your funds.

These keys are generated together and form a pair.

Mining

Crypto mining is the process of creating new coins on the blockchain that get put into circulation.

Stablecoins

Stablecoins are digital currencies that have their value linked to an underlying asset, such as the US dollar (USD).

The Conversation notes that stablecoins pair some of the advantages of fiat currencies with some of the advantages of cryptocurrencies. For example, they can be used 24/7, making money transfers convenient. Stablecoins also allow for transactions to be immutable, that is, not subject to modification.

Because their value is “pegged” to fiat currencies, stablecoins are less volatile than Bitcoin and altcoins.

Wallet

Much like a physical wallet, Time describers crypto wallets as a place to store your virtual currency.

While your crypto assets aren’t stored in the wallet itself, it is where your public and private keys go. This allows you to control and access your funds.

A Beginner’s Guide to Cryptocurrency Terms

With cryptocurrency looking more and more like a legitimate asset, it is time for both beginner and experienced investors to deepen their understanding of it.

Familiarizing yourself with these cryptocurrency terms is a fantastic way to start building your crypto knowledge, and hopefully, your investment portfolio.

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“As an LGBTQ+ entrepreneur, real estate investor, former USA Rugby Player, and fitness fanatic, I’ll teach you what your parents and teachers should’ve taught you, but didn’t know themselves.” -Cade Hildreth

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Or, listen to Cade’s articles on the go as a Podcast.

Because it’s the New Year, let’s talk about ch Because it’s the New Year, let’s talk about change...

For a long time, I’ve thought about top surgery. I remember when I was 6 or 7 years old when I wanted to run around outside on a hot, sunny day with my shirt off…and I first saw my parents… hesitate. Ughh. 

It wasn’t their fault but I still remember that heart wrenching feeling. To their credit, they ultimately said, “Ok, go do it!” While I did “do it”, I remember the feeling of shame that crept in.

Over the years, being in affirming sporting/rugby circles helped suppress the urge to get top surgery, but it never quite “stayed down.”

So last summer I got keyhole #topsurgery. I’ll talk about recovery in another post because it was definitely weird to not strength train for months.

But in THIS post, I want to share two things:

1. I am SO grateful to my wife Erin for being the supportive and growth oriented partner that she is. 🥰🙏❤️ 

She is now following her call to get a divinity degree and she’s already working in ministry as a Pastor in Training at an incredible, inclusive Presbyterian church here in Virginia. I am grateful to her for supporting me as I become more and more of who I am—and I’m enjoying watching her do the same! Love you, babe!

2. Second, I’m grateful to get to share who I am with my family. This summer we took a trip to Madden’s resort in MN to celebrate my parent’s 50th wedding anniversary. (It was actually their 52nd, because we had to postpone it twice due to Covid.)

I was nervous to be in the pools and lakes around them, but I could feel it was my only choice because I knew I wanted them to “know me”. And, how could that happen if I “hid me”?

Ultimately, I have to tell you…it was freeing to be me, as I am, who I am. 

I had the BEST time splashing around and biking and goofing around with my wife, niece, nephew, & sister. 🌊🏖🐟

So, I suppose, this is a gratitude post to thank those who have supported me over the years as I become more and more of who I am. 

Top of that list is my wife, Erin, but there are countless others. ❤️

If you’re reading this, thank YOU for being one of those people in my life too. I am deeply grateful. 🥹
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#lgbtqfamily #nonbinary
How to set a boundary? 🤔 . . . . #lgbtqia #lgb How to set a boundary? 🤔 
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#lgbtqia #lgbtqcommunity #emotionalhealth
What do you do if you’re telling a past story ab What do you do if you’re telling a past story about someone who has transitioned? 🤔 Share a 💯 if you agree ➡️🏳️‍⚧️🏳️‍🌈
7 things I got clarity on in 2022: 1. Good and b 7 things I got clarity on in 2022: 

1. Good and bad are labels. All things are experiences. 

2. Maturity is taking full responsibility for oneself. 

3. Having a loving, conscious relationship with myself is a core value. 

4. Emotions do not mean that anything has to be done. 

5. When I am in congruence with what I want, I have it. 

6. I have permission from myself to stop doing anything that doesn’t lead to my peace and empowerment. 

7. Stepping toward emotions and being able to feel them is a superpower. It determines the quality of my life. 

(Are there any above that you’d like me to further explain?)
 
Most importantly, which # above resonates with you? ⬆️

Happy New Year, y’all! 🎊🥳
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#lgbtqcommunity #lgbtqiaplus #lgbtsupport #nonbinary #trans #selfgrowth
Interview with Jenny Nguyen, Founder of the Sports Interview with Jenny Nguyen, Founder of the Sports Bra—The World's 1st Bar to Only Play Women's Sports - shorturl.at/doGHZ

I'm excited to introduce you to today's #podcast guest, Jenny Nguyen, who is a professional chef, elite athlete, and entrepreneur.

I invited Jenny onto the podcast because she has done something extraordinary that is long overdue: She has opened up a sports bar that exclusively plays women's sports!

Despite extensive research, Jenny hasn't found another sports bar worldwide that ONLY plays women’s sports.

Given that it's nearly 2023, this is mind-blowing. As a lifelong athlete, I find her vision compelling and inspiring.

Aptly called the "The Sports Bra", the venue is putting Jenny's culinary skills on display alongside women's sports worldwide.

The Sports Bar has taken its mission a even further by partnering with and elevating other local, women-owned businesses.

Specifically, it:

1. Sources its grass-fed beef from @CarmanRanch, an ranch run by Cory Carman, a third gen rancher out of Wallowa, Oregon).

2. Sources its alcohol from Freeland Spirits, an all-women owned and operated distillery out of NW Portland.

3. Has furniture built by @girlsbuild_org, a non-profit organization headed by @ktmhughes in Portland, OR, that teaches carpentry and construction skills to young girls as a path to empowerment.

Since opening the Sports Bra this April, people have come from ALL over the U.S. and the world to experience it—including many professional female athletes.

To learn more about Jenny as she makes history, features women's sports, and elevates women-run businesses, listen to the episode here:

shorturl.at/doGHZ

Or, you can check out the Sports Bra at:

@thesportsbrapdx
TheSportsBraPDX.com/

Have you heard of the Sports Bra or been out to experience it in person?

#lgbtqiaplus #womenownedbusiness #lgbgtqia #lgbtqcommunity #womenssports #womeninsport
Over this recent holiday stretch, we… - enjoye Over this recent holiday stretch, we… 

- enjoyed some quiet time at home
- got a sauna delivered (but not yet installed)
- decorated for the holidays
- baked a bunch
- visited our favorite farm
- did some sight seeing
- and perhaps, most importantly, survived the cold snap along with our feather friends (who lived in the garage for a few days so we could heat them with a space heater) 🥶🐔

How have the holidays treated you…and did you get hit by the winter storms? ❤️🎁☃️❄️
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