What is cryptocurrency market terminologies? It can simply be define as some terms, words, phrase use in the cryptocurrency market. Cryptocurrency Market terminologies can also be refer to as the terms or words used when trading cryptocurrency.
In this article we’ll try and introduce you to some terms used in the cryptocurrency market. These terms are not like the regular cryptocurrency terms. For a list of popular regular cryptocurrency term please read the article written by Ogodomiya titled Get Yourself Acquainted with Crypto Terminologies (1).
WHY YOU SHOULD KNOW SOME BASIC CRYPTOCURRENCY MARKET TERMINOLOGIES
There are lots of reasons why you should know these terms associated with trading cryptocurrency. We’ll mention just few in this article.
- To satisfy your curiosity.
- You have to be up to date with recent trends and cryptocurrency is among the latest trends.
- For educational purposes
- It can also help you in making research.
- These terms can make you better understand trading cryptocurrency.
- Knowing these terms will also better equip you to provied answers to people who needs to answers.
The above are just few reasons why you need to understand these terms. Now lets dive right into some basic crypto market terminologies.
BASIC CRYPTOCURRENCY MARKET TERMINOLOGIES
This refer to any digital currency in the market. These digital currencies can be used to make payment across the globe. Although not accepted worldwide as the time of writing this article but experts sees it as the future means of making payments. Some typical examples of cryptocurrency are, Bitcoin(BTC). Ethereum(ETH), Litecoin(LTC), BitcoinCash(BCH), Ripple(XRP) Stellar(XLM) etc.
2. Cryptocurrency Exchange:
Crypto Exchnage refers to the act of swapping or exchanging one crypto for another. It is also the act of exchanging crypto for fiat money. There are various cryptocurrency exchange platforms available online. Cryptocurrency Exchange platforms are those platforms that serves as middle man. They link buyers and sellers of cryptocurrency.
These Exchange platforms helps you to convert your crypto to fiat or swap your crypto for another crypto. You can CLICK HERE to read more about cryptocurrency exchange platforms.
3. Cryptocurrency Investment:
This can be refer to as the act of using your money to purchase cryptocurrency with the sole aim of making profit. There are various ways to invest in cryptocurrency. You can CLICK HERE to understand cryptocurrency investment.
4. Cryptocurrency Trade:
Simply put this is the buying and selling of cryptocurrencies. It can also be the exchanging of cryptocurrency for another.
5. Cryptocurrency Mining:
In the article titled Cryptocurrrency Mining: What you can Do with Cryptocurrencies, there our Writer Ogodomiya explained in details what cryptocurrency Mining is all about. In part cryptocurrency mining involves providing bookkeeping service in the blockchain.
6. Cryptocurrency Price:
This is the current price which various cryptocurrencies are trading for. It refers to the market value of each cryptocurrency. And it is very volatile as the price is not fixed and quickly change over night. CLICK HERE to read about how the Crypto Market Valuation Dropped $16 Billion Overnight.
7. Crypto Market:
Take this as the warehouse that keeps record of all the cryptocurrencies. The crypto market also gives you trend as to which crypto gains value, the ones that drop value and the general overview of how the cryptocurrencies are doing.
The cryptocurrency market terminologies are numerous. Hopefully when you hear some of these terms you can better understand what it means. Don’t forget to share our articles to help others.