Cryptocurrency Lingo Cheat Sheet: Crypto Terms You Need to Know

Have you ever caught yourself scratching your head over not understanding what the hell other crypto nerds are talking about while scrolling through Reddit, cryptocurrency related forums, or slack groups?

Well those days are over my friend! Today we start a whole new chapter in your life. I’m here to alleviate that eternal thirst for crypto knowledge! Excited? I know you are…

Print or bookmark this unofficial cryptocurrency lingo cheat sheet so that you no longer have to be left out in the dark.

Altcoin — any cryptocurrency that isn’t bitcoin. Yes, I do mean ANY!

Arbitrage — taking advantage of the different cryptocurrency prices, of the same coin, from one exchange to the other.

ASIC — stands for Application Specific Integrated Circuit. Specialized silicon chips which process SHA-256 algorithms in order to mind cryptocurrency and validate transactions.

ASIC Miners — the actual hardware which is used to house the ASIC silicon chip which is…