The world of Cryptocurrencies is full of jargon, abbreviations and specialist language.
Enough to make your head spin!
If you are just starting out it helps to know the Crypto language a bit, so we’ve collected a few of the most common phrases and words you need to know to understand what everyone is talking about.
Here we go:
USE CASE FOR COINS:
Use case for coins – also known as utility. e.g to be used for cross border payments, Govt use, person to person use, bank to bank use, etc. Coins which have utility are fast, scalable (many transactions per second) and have low fees.
Meme coins – may be known as pump and dump coins. e.g pushed by social media and celebrities. No real use case, often just fun coins like DOGE or Shiba Inu with cute memes such as dog pics etc. Yes – you can make money, but they are high risk.