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5 crypto terms to know
01:28 Mins Read
Watch this video to get started with some basic crypto jargon.
Curious about crypto? Let’s decode 5 basic crypto terms! First up - BLOCKCHAIN. Blockchain is simply a system of recording information. The USP is that it is recorded in a way that makes it impossible - or at the very least difficult - to change or hack. Next up - BITCOIN. The original cryptocurrency, Bitcoin is a kind of currency that is completely digital or virtual. Then we have ALTCOINS. Altcoins are simply cryptocurrencies that are not Bitcoin. Some common examples of Altcoins are Ethereum, Binance Coin, Cardano, and Dogecoin. Up next - CRYPTOCURRENCY WALLETS. These are basically apps that help you store and retrieve your crypto coins. Lastly, we have MINING. Mining is the process of verifying new transactions on a blockchain. It helps make new units of the currency. Now that you’ve caught up with some basic crypto terms, head to the next chapter to find out what the future of cryptocurrencies looks like.