Crypto Glossary Part 1_header image

Crypto Glossary - Part 1

We acknowledge that the blockchain and cryptocurrency world is vast. And for people who wish to start their crypto journey, the most important thing is to learn. However, it can become a bit confusing to learn when you come across new terms and jargon. IN4X Global being ‘Your Crypto Enabler’ wishes to help everyone to better understand the crypto world. Whether you are new to the world, or a veteran, we have compiled a glossary of keywords that would help you gain a better understanding of the world of crypto and blockchains. Think of it as a dictionary for crypto terms that shall be updated in parts. Here is part one of our ‘Crypto Glossary’ series.

HODL:

Usually, one of the first terms you come across in the crypto world is ‘HODL’, which is Hold On for Dear Life.

This term expresses the intent to hold on to a cryptocurrency asset for a long period of time. Traders or investors use HODL as a passive investment strategy to gain maximum profit.

To HODL, you can buy crypto and store it in any wallet like Tezor, Coinbase or iOWN wallet.

HODLing is one of the best strategies if you are looking for a longer-term investment, which brings us to our next term.
HODL - Hold On for Dear Life
DYOR - Do Your Own Research

DYOR:

Do Your Own Research, or DYOR is probably the most important term in crypto, and in the investment world in general.

Before you invest in any project, it is highly recommended that you do thorough research to understand the project. Rather than following the hype, you should know your strategy. It is also important to know why and where to invest.

As a matter of fact, a well-made plan will help you gain profits. Further, it also helps eliminate the likelihood of getting caught up in a dead-end project.

ATH:

In investment circles, ATH is an abbreviation for All-Time High.

It refers to the highest ever price value of a crypto asset since the time of its listing. As with any other asset, it is an indicator to show the potential of an asset. ATH is a bullish indicator and demonstrates what the highest price a trader paid for a crypto asset. Though for practical purposes, major cryptocurrencies like bitcoin and ether are sold as fractions, rather than a whole coin. As such, ATH may also be the highest price a trader had paid for a fraction of the crypto asset.

ATH may differ on different exchanges, which helps traders trying to arbitrage.
ATH - All Time High
DAO - Decentralized Autonomous Exchange

DAO:

In the blockchain ecosystem, DAO is an abbreviation for a Decentralized Autonomous Organization.

It is a decentralized entity, which is run by a community. It is self-supporting as it is automated with smart contracts that enforce rules. However, the code may also contain a provision to change rules on based on voting or consensus among community members.

DAOs, sometimes also called as DACs (Decentralized Autonomous Corporation), are transparent in nature, to ensure that all community members are aware of what is happening within the system.

NFT:

A Non-Fungible Token or NFT is a token stored on the blockchain, that represents proof of ownership over a digital or physical asset. Their non-fungible nature ensures that no one can copy or substitute them. This non-fungible nature of NFTs makes them unique.

NFTs are sometimes sold for exorbitant prices, with the costliest NFT being a series called as ‘The Merge’ by artist Pak. These were sold for $91.8 million.
However, a few NFTs are also airdropped or rewarded to users for certain tasks, instead of being sold. One such example is a real-estate based NFT by iOWN Token that offer real-estate based NFTs for staking on their platform.
NFT - Non-Fungible Token
Stay tuned for the next instalment of the Crypto Glossary series, where we explain various cryptocurrency and blockchain-related terms. You can also follow us on any of our social media channels below, where we post about all things crypto.