Cryptocurrency Terms to Know Before You Invest
Here is a quick guide to cryptocurrency terms. We define technical terms, slang, acronyms, and other jargon related to cryptocurrency.
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FIAT
Paper money issued by governments as default currency. The US Dollar, Japenese Yen, Chinese Yuan, and Euro are all fiat currencies.
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FOMO
Fear of Missing Out. Investors with FOMO buy cryptocurrency (emotionally rather than logically) for fear of missing out on profits.
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FORK
A change in the original code of a software.
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FORK HARD
A change in a cryptocurrency’s software that makes it incompatible with the original version. For example, any block size increase in the Bitcoin protocol constitutes a hard fork.
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FORK SOFT
A change in a cryptocurrency’s software that does not make it incompatible with the original version.