CoinTracker | Terms & Meanings
Cryptocurrency: A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a centralized authority.
Total Portfolio Value: Total cryptocurrency portfolio value in Base Currency selected in Settings. Different coins could be added (Cost) in different currencies, still the total portfolio value is converted into the base currency for the user convenience. Calculations are done with latest fiat currency rates.
Market Capitalization: One way to rank the relative size of a cryptocurrency. It’s calculated by multiplying the Price by the Circulating Supply.
Market Cap = Price X Circulating Supply
Circulating Supply: Best approximation of the number of coins that are circulating in the market and in the general public’s hands. Coins that are locked, reserved, or not able to be sold on the public market are coins that can’t affect the price and thus should not be allowed to affect the market capitalization. Therefore, Circulating Supply is used for determining the market capitalization.
Coin vs Token: Both terms used interchangeably in the app. But a Coin is a cryptocurrency that can operate independently. Token is a cryptocurrency that depends on another cryptocurrency as a platform to operate.
ERC20 Token: ERC stands for Ethereum Request for Comments. This is an official protocol for proposing improvements to the ethereum network. ‘20’ is the unique proposal ID number. ERC20 tokens piggyback on the Ethereum network, hosted by Ethereum addresses and sent using Ethereum transactions.