A beginner's guide to crypto lingo
April 26, 2021. Summarized by summa-bot.
Compression ratio: 24.2%. 1 min read.
This photograph taken on April 26, 2021 in Paris shows a physical imitation of the Bitcoin crypto currency. (Photo by Martin BUREAU / AFP) (Photo by MARTIN BUREAU/AFP via Getty Images)
Investing in cryptocurrencies requires an appetite for risk and a whole new vocabulary. Here's a beginner's guide to the fundamentals of crypto lingo.
Bitcoin is a cryptocurrency created in 2009 by an unknown person (or people) using the alias Satoshi Nakamoto.
Bitcoin is by far the most valuable and popular cryptocurrency in use today.
A blockchain is a digital ledger and the key technology underpinning most cryptocurrencies, non-fungible tokens (more on those later) and other unique digital items.
Blockchain can be used to store all kinds of information, but so far its most common use is in recording cryptocurrency transactions.
Blockchain is fundamental to bitcoin's appeal: As a decentralized database, it can't be controlled by any one person or group — unlike a fiat currency such as the US dollar, which is managed by a central bank.
Tesla CEO whose tweets have been known to spark rallies in cryptocurrencies such as bitcoin and dogecoin.
Non-fungible tokens, or NFTs, are pieces of digital content linked to the Ethereum blockchain.