Basic Bitcoin terms every beginning should know?

[God Tim]

As a new beginning to Bitcoin,there are many words or terms that might sound very confusing and not understood. Learning the primary term is very important in order to avoid mistakes. Some basic Bitcoin terms to know as a beginner are as follows:
‎1 Bitcoin (BTC)
‎This is referred to as money in digital format that people can send and receive online without the use of a bank.
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‎2 Wallet
‎This is an app or a device that is used in the storing sending and receiving Bitcoin.
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‎3 Address
‎A Bitcoin address is in the form of an account number where people can be used to send Bitcoin to you.
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‎4 Private key
‎This is a secret code that provides an access for you to your Bitcoin which is never to be shared with anyone.
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‎5 Seed phrase
‎This refers to a category of words that is used in the recovering of your wallet if your phone or your device gets lost.
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‎6 Block chain
‎It is the public records that is used in the storage of all Bitcoin transactions.
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‎7 Transaction fee
‎This is a small amount used in the processing of a Bitcoin transaction paid to miners.
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‎8 Miner
‎This is a person or machine that helps confirm Bitcoin transactions and secure the network
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‎9 Confirmation
‎This mean the verification of a Bitcoin transaction has been completed on the block chain
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‎10 P2p (peer to peer)
‎It mean the buying and serving of Bitcoin by people directly with each other without the usage of a bank.
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‎11 Exchange
‎It is a platform for the buying and selling of Bitcoin by people.
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‎12 HODL
‎This mean keeping your bitcoin for a long time instead of selling it very quickly.
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‎13 Bull market
‎A bull market is the rising of the Bitcoin price as fast as possible
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‎14 Bear marker
‎A bear market is the falling of the Bitcoin price for a long period of time.
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‎15 Satoshi
‎A satoshi is the smallest unit of Bitcoin.
‎1 Bitcoin = 100 million satoshis.
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‎16 Node
‎This is a computer that is concerned with the running and security of the Bitcoin network.
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‎17 Cold Wallet
‎It helps in stoing Bitcoin officer for better security.
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‎18 Hot wallet
‎A hot wallet is connected to the Internet and is easier for daily usage.
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‎19 Scam
‎This is a fake scheme or activity that is used to steal Bitcoin or money.
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‎20 Volatility
‎Mean the change of Bitcoin prices very quickly.
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‎This are the main point to understand way that are basic Bitcoin terms it also very important as beginner/newbie. Studying these terms makes it easy for Bitcoin to avoid scams and use Bitcoin safety.
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[Floczy]

Good post,

But there are alot more than this, and it is best that every one interested in Bitcoin should make out time to study about it,
Only what is written in this post would fulfil your knowledge conserning how these "terms" work,

Sometimes when I see what most people talk about Bitcoin in this forum and I feel uncomfortable, because of how ignorant the post looks,
So I will advise that people go for knowledge about Bitcoin, especially if you post about it

[Agbamoni]

This topic will be vital if you keep updating the list by adding some not mentioned here.
To add to the list. Self-custody, Proof of Work, ATH, DCA, Decentralization, Market Cap, Halving, Mempool, and Lightning Network are important terms to know as a Bitcoiner. There is more to the list, so a proper research study needs to be done if a newbie wants to know them all.

[Livingleged]

This topic will be vital if you keep updating the list by adding some not mentioned here.
To add to the list. Self-custody, Proof of Work, ATH, DCA, Decentralization, Market Cap, Halving, Mempool, and Lightning Network are important terms to know as a Bitcoiner. There is more to the list, so a proper research study needs to be done if a newbie wants to know them all.

Yea good suggestions, However it will make more sense to distinguish the terminology between technical and non technical terms for easier learning and referencing. Bitcoin trading and non trading terms could still be separated also. There is a lot to do and if that is done the thread will be a good reference point as just bitcoin dictionary here on the forum for newbie and everyone as well.

[OsaiEmma]

You should add these too:

Public key:
This is generated from ur private key, and it can be use to generate ur wallet address.

UTXO:
This stands for unspent transaction output, this is an unspent coin sent to ur wallet address, i.e, it is those coins, sent to ur wallet, which u haven't sent out.

[Decimetre]

Thank you for this piece of work from you. It has helped me to learn new thing this morning. I still do not understand the Hot wallet and Cold wallet. I have been seeing hot wallet and Cold wallet in the forum since I joined but I have not known the real meaning.

You should update to add terms like;

DCA: Dollar Cost Average

Lump Sum: Buying bitcoin in a large quantity at once.

Buy The Dip: Buying bitcoin only during the bear market.

Discretionary income: Money left after taking care of your basic responsibilities. Etc.

[Sammysmart001]

Impressive what a nice list for newbies this took some of the main basics.

Just a little check in, just a typo on number 14 you wrote Bear marker  instead of Bear market. What I have to add up on what you say is basically on point 4 & 5. In no way should you save your seed phrase on a mobile device allot of users have lost allot of their coin through the means of one having access to their device. Your seed phase should be well save with self.

Which of these among listed us when we once started ?

[Sammye3]

This topic will be vital if you keep updating the list by adding some not mentioned here.
To add to the list. Self-custody, Proof of Work, ATH, DCA, Decentralization, Market Cap, Halving, Mempool, and Lightning Network are important terms to know as a Bitcoiner. There is more to the list, so a proper research study needs to be done if a newbie wants to know them all.

A nice initiative I must say, Bitcoin is too big to be limited to just these terms; there are more to this that should be added. You have mentioned quite good points that are relevant to Bitcoin investment and important details every newbie should take into consideration.

Other terms like public key, seed phrase, DYOR, rugpull, FOMO, phishing are also important terms to note for newbies. It would be nice that the OP makes a comprehensive adjustment with provided terms from the quotes.

[Doan9269]

You have done something good and great by providing a means of learning to beginners on how they could get used to the crypto terms we have, not only that but being specific on bitcoin related terms beginner should get familiar with, I also make some research and discover that we could go more broader into this learning process by extending it to the entire crypto and I discover the crypto glossary https://coinmarketcap.com/academy/glossary from coinmarketcap, whereby we can learn more about various crypto terms and know their meaning.

[Dex_master25]

This is good explanation and exposition, if I may begin.
As a newbie this helped narrow down a lot of questions I normally ask myself while trying to be conversant with this forum and the Blockchain in a broader scope.
I did learn some terms that now makes sense and I can at this point start doing DCA investment since my knowledge is a bit fine tuned.
I would still like you or someone to please explain more on the bull and bear seasons as it concerns the right time to start buying and holding Bitcoin by DCA strategy and how does these seasons affect a long or short term plan should Incase i decide to diversify early into other things I think I could achieve in the meantime while I still continue to input funds to hold.

[The Founding Titan]

This topic will be vital if you keep updating the list by adding some not mentioned here.
To add to the list. Self-custody, Proof of Work, ATH, DCA, Decentralization, Market Cap, Halving, Mempool, and Lightning Network are important terms to know as a Bitcoiner. There is more to the list, so a proper research study needs to be done if a newbie wants to know them all.

A nice initiative I must say, Bitcoin is too big to be limited to just these terms; there are more to this that should be added. You have mentioned quite good points that are relevant to Bitcoin investment and important details every newbie should take into consideration.

Other terms like public key, seed phrase, DYOR, rugpull, FOMO, phishing are also important terms to note for newbies. It would be nice that the OP makes a comprehensive adjustment with provided terms from the quotes.

The list can go even further from there, OP isn't saying that these are the only terms a person should know but for someone who is completely clueless on what bitcoin is and what it involves knowing these few will go a long way in brushing them up on the basics, nothing is stopping them from wanting to know more in the long run but if they can get their hands on the information OP provided then its a good start for any newbie, with time they will learn more as most of us are still learning and will most likely still be learning, we can't hope to know all there is to know about bitcoin first before we can start our bitcoin journey, deciding to do that first will just end up delaying whatever progress we might have made in that time.