Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Pump and dumps

This is a strategy, the essence of which is to increase the cost of the coin (smell), and then sell, that is, drop the coin (ask).

Other Important Terms

Hot wallet

This is a wallet that operates in online mode and is used to store cryptocurrencies. Examples: Metamask and Keplr.

The abbreviation, which stands for "conduct your own research." This term is used in cases where it is recommended to independently study the project, get acquainted with its white paper, see ratings on various aggregators, etc., and not to believe the word for other investors.

IDO

This is a format for attracting investments in which the sale of tokens to investors of any project is organized on a decentralized exchange, for example, Pancakeswap. ILO (Initial Liquidity Offering) - a type of IDO when funds are sent to the liquidity pool

Transaction Fee

These are commission fees that the user pays to miners or validators of the network for various transactions and transactions. The commission is paid using the native tokens of a particular network, for example, on the BSC network for transactions, you need to pay in BNB.

Domination

This is the ratio of market capitalization of any cryptocurrency to the sum of the market capitalizations of all cryptocurrencies.

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