Crypto Currency Flashcards

1
Q

Cryptocurrency

A

Digital or virtual currency that uses cryptography for security.
Example: Bitcoin is a popular cryptocurrency.

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2
Q

Blockchain

A

A decentralized and distributed digital ledger that records cryptocurrency transactions.
Example: The blockchain ensures transparency in cryptocurrency transactions.

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3
Q

Wallet

A

A digital or physical device used to store and manage cryptocurrencies.
Example: I keep my Bitcoin in a secure hardware wallet.

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4
Q

Mining

A

The process of validating and adding transactions to a blockchain by solving complex mathematical problems.
Example: Miners use powerful computers to participate in cryptocurrency mining.

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5
Q

Exchange

A

A platform where cryptocurrencies can be bought, sold, and traded.
Example: I use a reputable cryptocurrency exchange to buy Ethereum.

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6
Q

Decentralized

A

Referring to a system or network that is not controlled by a central authority.
Example: Bitcoin operates on a decentralized network.

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7
Q

Volatile

A

Subject to rapid and significant price fluctuations.
Example: Investing in cryptocurrencies can be risky due to their volatile nature.

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8
Q

Secure

A

Safe from unauthorized access or tampering.
Example: Blockchain technology provides a secure way to transfer funds.

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9
Q

Transparent

A

Open and visible to all participants in a network.
Example: The blockchain ensures transparent and traceable transactions.

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10
Q

Digital

A

Existing or functioning in a digital form.
Example: Cryptocurrencies are purely digital assets.

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11
Q

Invest

A

To allocate money or resources with the expectation of generating a return.
Example: Many people choose to invest in cryptocurrencies for long-term growth.

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12
Q

Trade

A

To buy and sell cryptocurrencies for profit.
Example: Traders use different strategies to trade cryptocurrencies.

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13
Q

Transfer

A

To send cryptocurrencies from one wallet to another.
Example: I transferred some Ethereum to my friend’s wallet.

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14
Q

Accept

A

To receive cryptocurrencies as a form of payment.
Example: Some online retailers now accept Bitcoin as payment.

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15
Q

Cash out

A

To convert cryptocurrencies into traditional fiat currency.
Example: I decided to cash out my profits and buy a new car.

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16
Q

Hold on

A

To retain ownership or possession of cryptocurrencies.
Example: Hold on to your cryptocurrencies until the market improves.

17
Q

Cash in

A

To profit or take advantage of a situation, especially in cryptocurrency trading.
Example: Many traders cashed in on the recent price surge.

18
Q

Moon

A

Refers to a significant increase in the price of a cryptocurrency.
Example: If Bitcoin reaches $100,000, it will definitely moon.

19
Q

Bagholder

A

A person who is left holding a depreciated or worthless cryptocurrency.
Example: Many investors became bagholders during the market crash.

20
Q

Pump and dump

A

A scheme where a group artificially inflates the price of a cryptocurrency and then sells it for a profit.
Example: Be cautious of pump and dump schemes in the cryptocurrency market.

21
Q

Shill

A

To promote or endorse a particular cryptocurrency for personal gain.
Example: Some influencers are accused of shilling specific cryptocurrencies.