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Top Crypto Trading Terms You Need To Know (2020) - YouTube
Channel: BitBoy Crypto
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erc20 mooning huddle dex
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ico pump and dump these are all words
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that you probably heard or read
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in the past when researching crypto it
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is easy for seasoned traders to throw
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these terms around
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without remembering that they once
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didn't know them
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for them it's like saying their name for
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crypto newbies
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it can be very confusing in this video
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i'll give you the talk
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no not that talk ask your parents to
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give you that one
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one day you might actually find out what
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it means i mean introducing you to as
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many
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concepts as i can this will help you to
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make sense of news articles
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and combos between traders let's get it
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it's pretty good
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welcome to bitboy crypto the hardest
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working channel in all of cryptocurrency
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if you're new hit that subscribe button
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and check the description for links
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you can use to connect with me and the
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bit squad
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all right guys in this series of
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introductory videos
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we might have already explained some of
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these terms when talking to you about
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other subjects
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so you might be familiar with some of
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them if you haven't watched
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any of the videos in this series and are
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watching this one
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i recommend you check them out to learn
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more about the crypto world as a whole
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you can find them on my back to basics
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playlist
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we're going to be looking at some crypto
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news and headlines which use some of the
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terms i want to present to you
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and i will be explaining them as they
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show up so let's get started
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please take your seats as this lecture
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is about to begin don't fall asleep
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the first term you might have heard a
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lot when it comes to crypto
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is whales huh obviously
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they're not referring to those majestic
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animals that live in the sea but are a
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reference to size
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just like the animals huge crypto whales
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are big players who have an incredible
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amount of capital
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being able to impact the market in a big
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way when they make moves
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when whales move in the sea or the
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crypto market
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everything around them moves as well the
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smaller the project is when a whale is
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operating
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the bigger the impact its movements will
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have icos is a term that most crypto
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traders
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start hating around 2017 and 2018.
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ico stands for initial coin offering a
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type of crowdfunding in which coins were
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offered
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in exchange for fiat or more established
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cryptocurrencies like
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ethereum or bitcoin the reason for the
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distrust and hate towards icos
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was the number of scams that started
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showing up at a certain point
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scammers would start in ico for projects
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they never had any intentions of working
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on
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and had not even started developing
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disappearing when they got the money
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from
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investors and if they did deliver the
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project was not always what was promised
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oh polka dot such a good project i
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covered this project back on august 18th
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and look at it now
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growing as i expected i'm so proud of it
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i could almost cry
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anyway let's talk about circulating
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supply which as you can see had a lot to
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do with polka dot success
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this concept is pretty easy and at the
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same time super important in crypto
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this is the number of tokens or coins
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that are circulating at any given time
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i'm sure you guessed that from the name
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however
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i have seen people confusing the terms
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circulating
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and total supply the circulating supply
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are the coins that are available to the
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public at any given moment
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which is the result of the following
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calculation circulating supply equals
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total supply
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minus team tokens minus foundation
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tokens minus lock tokens
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circulating supply is used to calculate
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the market capitalization
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of a cryptocurrency which is the result
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of the circulating supply
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multiplied by the value of the token you
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guys love math
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market capitalization is an indicator of
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the value of a project
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which is the attribute used to rank
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crypto projects by
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most sites litecoin gecko and coin
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market cap
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ah fomo and jomo two abbreviations that
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define two of the most common emotional
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states
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for crypto investors these abbreviations
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stay for fear of missing out and
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joy of missing out the first one is the
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feeling an investor gets
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when the price of a coin is super
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bullish which means it is going
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upwards and they quickly jump into the
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wagon expecting to make returns
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and not missing out on the opportunity
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some investors consolidate assets
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to jump in or just invest money they
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wouldn't have
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otherwise this may pay out or go wrong
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joy of missing out on the other hand is
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that relief that those
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who didn't jump in feel when they see
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the price of the project
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dropped a bridge version fomo is what
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made people buy bitcoin a few days
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before december 16th
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2017 when it reached its all-time high
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jomo is what people who didn't buy
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bitcoin in those days
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felt on december 17th when the value
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dropped
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pump and dump a term that trolls love
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using in the comments section of this
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channel
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pumping up is the act of boosting a
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coins price by talking about it
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trying to sell it to other people a
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thing that is easy
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or big personalities like dave portnoy
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to do because of their big followings
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you basically say
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great and exaggerated things about a
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project and promise people it would be
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mooning soon
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something known as shilling then when
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the price of the coin goes up as your
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followers start buying it boom
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you sell the coins you had bought at a
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cheap price before recommending them
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and then you sell them at a higher price
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the crappier the projects the easier the
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technique is for people doing this
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which is not a nice thing to do if you
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ask me now this one is pretty simple
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all coins are basically every other
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cryptocurrency that is not
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bitcoin decentralized exchanges or dexes
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is a cryptocurrency exchange that is now
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operated by an individual or a group
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that operates as a central authority
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this is the opposite of
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binance kucoin or coinbase decentralized
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exchanges like uniswap
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work without a central authority by
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facilitating trades via automation
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and liquidity pools now this is a good
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opportunity to explain
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what a liquidity pool is and please
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don't be the guy who says
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liquid have water after all okay the dad
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jokes
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are my jokes okay you stay away from
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them a liquidity pool is a pool of
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tokens
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that's been locked in smart contracts to
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facilitate trading
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by providing liquidity these rules are
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filled by investors
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who earn rewards by locking tokens into
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the pool the rc20 is a term you will see
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pretty regularly in white papers
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wallets crypto product descriptions news
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and exchanges
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erc20 is a type of token hosted on the
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ethereum blockchain
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erc20 stands for ethereum request for
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comments
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which represents the standards for a
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valid token in the network
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for all intents and purposes erc20 means
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that the token is part of the ethereum
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network
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the term gas is usually used when
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referring to the ethereum network in
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particular
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gas refers to the fee that users need to
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pay to start transactions in the network
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which is paid in ether by charging these
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fees the network ensures that the
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transactions can be validated
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by rewarding those nodes who work on
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keeping the network running
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now as you can see in this headline
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ethereum's gas prices have become a
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big issue in recent months as the cost
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of operating in it
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has skyrocketed no news article for this
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one
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huddle is one of the most well-known and
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beloved terms
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when it comes to crypto investing the
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term is a misspelling of
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hold to gain popularity in a crypto
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forum when a drunk user wrote
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an extremely emotional and eye-watering
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post
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on how he would be huddling his beloved
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bitcoin the term has its own manifesto
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and everything
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you really check it out i just wanted to
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say that most of the people made fun of
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this guy for his drunk post
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but hey back then btc was valued at less
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than 1k
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if the guy did indeed huddle he's
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probably swimming
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like scrooge mcduck so let's talk about
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mooning no
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not that type of mooning guys this is a
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family-friendly channel
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i'm talking about a crypto term
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referring to a coin's value
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rising to the moon as if it was a rocket
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a coin that is mooning is not just a
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coin
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it's increasing in value constantly but
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a really sharp increase in value
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any reference to the moon and crypto
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means the project is having a moment of
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great success
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to the moon moonshot and other similar
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expressions should be something you
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should keep an eye on
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especially if it's in the title of my
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video
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but now it's your turn what crypto
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trading terms did i miss did any of
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these terms mean something to you
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did any of these terms mean something
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that you didn't expect let me know what
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you think down below in the comments
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section
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hope you enjoyed this video if you did
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please make sure to smash the like
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button and hit subscribe to become a
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member of the bit squad
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thanks for watching have a blessed day
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[Music]
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you
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