16 Crypto Terms You Should Know

Top Words Used in the Crypto Space Explained
By 
Coin Cloud Team
, published on 
January 14, 2021
16 Crypto Terms You Should Know

People in the crypto space use a lot of seemingly complicated words. Let’s look at a few of the more popular ones and give them some simplified definitions.

Cryptocurrency

A digital currency that verifies its use and transactions through a system that uses cryptography instead of being verified by a centralized authority.

Bitcoin ATM (BTM)

A machine that allows users to buy and sometimes sell cryptocurrency for physical cash.

Digital Currency Machine (DCM)

A more advanced machine than a BTM which allows for buying and selling of 30+ digital currencies with cash, offers various language options, and has a free non-custodial companion app.

Decentralized

Not owned or overseen by one central authority (like the U.S. government); the power over a cryptocurrency is distributed to multiple sources, which makes it decentralized.

Fiat

Currency that has been deemed legal tender by a government (for example, the USD or Euro); being backed by a government, it’s not decentralized.

Altcoin

Any virtual currency that is not Bitcoin; an alternative to Bitcoin.

Bear Market

A prolonged downward trend or price decline in the market, so named because bears pin their prey down on the ground.

Bull Market

A prolonged upward trend or price increase in the market, so named because bulls toss their prey into the air with their horns.

Blockchain

A digital ledger used to record cryptocurrency transactions. This publicly available database is made from “blocks” of information that are all linked together by a “chain.”

Encryption

The use of cyphers of codes, or converting data into secret code that hides its true meaning, to protect information from unauthorized access.

Hodl

A slang term for holding onto your cryptocurrency rather than selling it. It comes from a misspelling of “hold” typed into a famous forum post, and simply means to “hold.”

Fear of Missing Out (FOMO)

The purchasing of cryptocurrency due to the fear of missing out on what everybody else is doing, rather than making a decision based on sound market information.

Bubble

The idea that an asset’s market value greatly exceeds its “intrinsic value,” and hence is doomed to suddenly come down in price, like a bubble “popping.”

Fork (Blockchain)

A circumstance where two potential changes to a blockchain both take place, causing a split or “fork” in the blockchain network. After the fork there are two versions of the blockchain, with the new one representing a different currency.

Hard (Hardware) Wallet

A type of crypto wallet that stores digital currency in a hardware device, which can look something like a flash drive, rather than a software wallet or online wallet.

Exchange

A service that allows crypto users to trade cryptocurrencies in exchange for things of equivalent value like USD or even other digital currencies.

Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.

What is Coin Cloud?

Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.

Get $25 in FREE Bitcoin

When You Buy $150 or More at Any Coin Cloud DCM

Use promo code COINCLOUD at the machine

Enter your email for updates, promos, and more ...

You're in! We'll occasionally send opportunities to redeem digital currency to the email you provided. You can opt out at any time.
Hmm... Looks like something went wrong while submitting the form. Please try again.
Read our Promotion Terms of Service for offer details

Questions? Need Help?
Contact our 24/7 US-based Client Support team