How many new cryptos do we need?
|Dust||Tiny amounts of cryptocurrency|
|ICO||Initial coin offering|
|Hot wallet||A cryptocurrency wallet connected to the Internet|
|Cold storage||A cryptocurrency wallet not connected to the Internet|
|HODL||Hold on for dear life|
|Airdrop||A cryptocurrency marketing event|
|Crypto Mom||SEC Commissioner Hester Peirce|
|Rug pull||A cryptocurrency scam|
|Nocoiner||A person who owns no cryptocurrency|
|BTD||Buy the dip|
Those who trade in Bitcoin, Ether, or Dogecoin may refer to cryptocurrency as crypto. You're most likely to see this abbreviation used on social media and in online forums, when users are discussing either a specific cryptocurrency or the merit and make-up of cryptocurrencies as a whole.
What is cryptocurrency?
A cryptocurrency is a digital currency that can be used to complete financial transactions secured using cryptography. Most cryptocurrencies are distributed and exchanged upon decentralized computer networks, which use blockchain technology to track and validate transactions. This concept, of conducting financial transactions using decentralized networks, is often referred to as DeFi.
As cryptos (especially Bitcoin) have become more popular, they've spawned an entire subculture devoted to buying, selling, and discussing different currencies. These discussions often contain a variety of other crypto-related slang, some of which you can learn more about in the Related Slang section below.