CRYPTO TERMS YOU’LL SEE EVERYWHERE — PART 2
Crypto has its own language.
Here are 6 more terms you’ll come across as you explore trading, DeFi, and crypto wallets.
⛽ Gas Fees
Gas fees are payments made to cover the computing power needed to process and validate transactions on a blockchain.
On networks like Ethereum, gas fees are paid in ETH, and the cost can change depending on network demand.
🔐 Seed Phrase
A seed phrase is a set of 12 to 24 words that can be used to recover a crypto wallet.
Think of it as a master key to a self-custody wallet.
Never share your seed phrase or store it in screenshots, emails, or cloud storage.
🐋 Whale
A whale is an individual or entity holding a large amount of a particular cryptocurrency.
There’s no fixed amount that automatically makes someone a whale — it depends on the asset and its overall supply.
💧 Liquidity
Liquidity describes how easily an asset can be bought or sold without significantly affecting its price.
Markets with more liquidity generally have more active buyers and sellers and can have less price impact when trades are executed.
📉 Slippage
Slippage is the difference between the price you expect when placing a trade and the price at which it actually executes.
It can happen when liquidity is limited or when the market moves quickly while your order is being processed.
🔒 TVL — Total Value Locked
TVL is the total value of assets deposited in a DeFi protocol or across a blockchain ecosystem, usually measured in USD.
It’s commonly used as a metric for DeFi activity, but TVL alone doesn’t tell you whether a protocol is good or sustainable.
⸻
The more crypto terms you understand, the easier it becomes to follow the conversation.
Gas Fees • Seed Phrase • Whale • Liquidity • Slippage • TVL
📚 Keep learning with Binance Academy.
Educational content only, not financial advice. DYOR and use official Binance sources. Availability and requirements may vary by region.
#Binance #blockchain #CryptoEducation💡🚀
Crypto has its own language.
Here are 6 more terms you’ll come across as you explore trading, DeFi, and crypto wallets.
⛽ Gas Fees
Gas fees are payments made to cover the computing power needed to process and validate transactions on a blockchain.
On networks like Ethereum, gas fees are paid in ETH, and the cost can change depending on network demand.
🔐 Seed Phrase
A seed phrase is a set of 12 to 24 words that can be used to recover a crypto wallet.
Think of it as a master key to a self-custody wallet.
Never share your seed phrase or store it in screenshots, emails, or cloud storage.
🐋 Whale
A whale is an individual or entity holding a large amount of a particular cryptocurrency.
There’s no fixed amount that automatically makes someone a whale — it depends on the asset and its overall supply.
💧 Liquidity
Liquidity describes how easily an asset can be bought or sold without significantly affecting its price.
Markets with more liquidity generally have more active buyers and sellers and can have less price impact when trades are executed.
📉 Slippage
Slippage is the difference between the price you expect when placing a trade and the price at which it actually executes.
It can happen when liquidity is limited or when the market moves quickly while your order is being processed.
🔒 TVL — Total Value Locked
TVL is the total value of assets deposited in a DeFi protocol or across a blockchain ecosystem, usually measured in USD.
It’s commonly used as a metric for DeFi activity, but TVL alone doesn’t tell you whether a protocol is good or sustainable.
⸻
The more crypto terms you understand, the easier it becomes to follow the conversation.
Gas Fees • Seed Phrase • Whale • Liquidity • Slippage • TVL
📚 Keep learning with Binance Academy.
Educational content only, not financial advice. DYOR and use official Binance sources. Availability and requirements may vary by region.
#Binance #blockchain #CryptoEducation💡🚀
