As you continue your Crypto journey, it’s important for you to get familiar with some of the #Crypto terms, slangs & phrases used as you’ll be seeing them often.

Here is a list of Crypto Terms and their meanings.

1. Fiat - Government-issued currencies i.e Naira, Dollar

2. Blockchain - the technology of cryptocurrency that keeps the system secure and decentralized. 

3. DEFI - (Decentralized Finance) is an ecosystem that operates independently, free of third parties or exchanges.
Defi involves the use of decentralized exchanges and wallets to trade tokens.

4. CEFI - (Centralized Finance) had always been the standard for trading Crypto before DEFI.

CEFI involves the use of companies operating exchange platforms like Binance, FTX etc
7. White paper - A white paper is a document that outlines what a cryptocurrency is created to do and how it will achieve it. 

8. Tokenomics - This is a combination of Token & Economics. It helps understand the supply and demand characteristics of a cryptocurrency
9. ICO- Stands for ‘Initial Coin Offering’, which is where a new cryptocurrency gives away some coins at a discounted rate usually to finance the project.

10. IDO - Stands for ‘Initial DEX Offering’ refers to the launching of a cryptocurrency on a decentralized exchange (DEX)
usually at a price lower than the listing price in order to raise funds.

11. Tokens - There is a difference between Coins and Tokens. A coin is an asset that is native to its own blockchain. E.g Bitcoin, Ethereum, Solana
Tokens are created on existing blockchains. I.e Every cryptocurrency created under BSC, SOL, ETH or any other blockchain is not a coin but a Token. E.g $AFEN (Bsc), $COPE (Sol), $UNI (Eth)

Tokens are the backbones of DEFI & exist to be used with DEX.
12. Market cap - The total trading value of a cryptocurrency. Calculated by (Current Price x Circulating Supply= Mcap)

For example, a coin with 1 million coins in circulation selling at $1 would have a market cap of $1million.
13. Stablecoin - A cryptocurrency that is tied to the value of the US dollar to make it more stable and less volatile. E.g USDt, Busd

14. Pump and dump - This is kind of like a scam where people who own a large share of a Coin encourage others to buy to artificially pump the

Once the price reaches a high point, they sell off all that they own and the price falls drastically.

15. Bagholder - This term is for someone left with a cryptocurrency after a pump and dump. E.g Everyone holding Shitcoins after they fall🥴
16. Gas - A fee for validating a transaction.

17. Rekt Slang for ‘wrecked’. It implies that the user lost a lot of money on cryptocurrency.

18. Moon - A belief that a Cryptocurrency will rise exponentially in price.
19. HODL - A drunken misspelling of the word ‘hold’ which is now a slang people use when they say they are going to wait and hold onto a cryptocurrency.

20. NFT - (Non Fungible Tokens) NFTs enable people to buy and sell collectibles like art,
music and trading cards using smart contracts. NFTs can work like any other speculative asset, where you buy it and hope that the value of it goes up one day, so you can sell it for a profit.
21. DYOR - (Do Your Own Research) often aims to reduce the number of uninformed investors in cryptocurrency. It encourages them to research and understand a cryptocurrency before investing.

22. NFA - (Not a Financial Advise) The term is also often used as a disclaimer when
cryptocurrency traders and enthusiasts make public posts or share their market analyses on social media platforms.

The market cannot be 100% predictable and even a “Correct” analysis can fail so it’s important that users apply discretion while investing.
23. Whale - A crypto whale is wealthy individual or a company that can move large amounts of cryptocurrency in one go. This can have a big impact on the market.

—Learning these cryptocurrency terms will make it easier to understand how cryptocurrency works.
There are a lot of slang words used by cryptocurrency traders that will likely seem alien to those outside cryptocurrency trading.

Learn them all and you will have a significant advantage.

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More from @DannyCrypt

4 May

Farming, Staking, risks, rewards... This thread breaks down farming in Cryptocurrency. 📊

Kindly Retweet
First of all let’s get this confusion out of the way. Farming is not staking. Farming is for Defi only. Yield Farming in crypto is literally what it is, PLANTING.

Look at it like traditional farming, you bring a Mango Seed plus Water and then put them inside a fertile soil leave
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Staking is like simply leaving your Cash in your Bank account and earn little interests. You won’t necessarily “Plant it”.
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(For beginners)

Retweet for newbies to learn! 📈

-In trust wallet, select Smart Chain (Not BNB), it’s still BNB but under the BSC network.
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-Go back to Binance and select BNB from your Wallet
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In few minutes, your Trust wallet ‘Smart Chain’ will receive the BNB. 😊
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How to Swap USDT for another Cryptocurrency on Binance
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My Previous thread explained how to Register a Binance account, Fund your wallets using P2P and move your assets between P2P and Spot Wallet.

This will show you how to buy Cryptocurrency with your USDT 📈
I’ll assume you already have USDT in your Spot Wallet.

Follow these STEPS to buy other Cryptocurrencies.

-Search for the currency you want to buy (I’ll use BNB for reference.)

Different BNB currency pairs will Pop up

-Click the USDT Pair (BNB/USDT)
-Click Buy (It’s on ‘Buy’ by default)

-Make sure it shows ‘Market’ and input the amount of BNB you want to buy in USDT

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Read 4 tweets
25 Apr


Save and Share 📈🚀
Funding your crypto wallets used to be so easy as you could use your debit card until the government’s Ban on cryptocurrency. Now you can only acquire cryptocurrency through P2P (Peer to Peer).
P2P service is a decentralized platform where 2 individuals interact directly with each other, without intermediation by a third party but for safety reasons could use an Escrow.
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Earning Passive Income from Cryptocurrency

A list of Passive ways to invest in Cryptocurrency and earn rewards. 💰

Retweet, someone might need this! 📈🚀
There are several ways to make money from the Crypto space and One of the most common ways to earn in Cryptocurrency is simply by hodling.

Most people simply buy a certain amount of Cryptocurrency and hold them for a long period of time in hopes that it “moons”.
However, that doesn’t necessarily guarantee a reliable source of income. 

So instead of simply hodling, you can earn rewards by participating in few alternative sources of income.
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22 Apr
Been getting a lot of questions on how to buy $AFEN on Julswap

This thread will teach you instead “How to buy any token on Trust Wallet and the difference between Wallets and Exchanges”.

(Let’s kill one stone with 2 birds or whatever they say...🌝)

Retweet for Beginners 📈🚀
First you have to know the difference between a Wallet and an Exchange.

A wallet is simply what the name implies, a Wallet. It is a software program in which you store cryptocurrency look at it like a Bank.

An exchange lets you convert currencies either from Fiat
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Look at it like a market where you buy and sell but this time what you’re selling is currencies.

Exchanges also provide a wallet—but you don’t necessarily have full control of that wallet.
Read 18 tweets

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