help ease you into this landscape, we have created the ultimate cryptocurrency glossary. The currency to the right is called the" the currency. This is the same way it would be"d in the forwards and futures markets. OCO Acronym for "One Cancels the Other Order" One Cancels the Other Order When two orders for cryptocurrency are placed simultaneously, with a rule in place whereby if one is accepted, the other is cancelled. Pump and Dump The frowned upon practice of buying a lot of one cryptocurrency to drive up its price encouraging others to invest, then selling the lot when there is a suitable margin. Those who set the trap then release it, buying back their assets, which are now at a lower price. So, if you buy the eurusd you are buying euros (base currency) and selling dollars " currency if you sell the eurusd you are selling euros (base currency) and buying dollars " currency). Unconfirmed When a transaction is proposed, it is unconfirmed until the network has examined the blockchain to ensure that there are no other transactions pending involving that same coin.
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If we were to look at the following": EUR/USD.2500/03, the spread would.0003 or 3 pips, also known as points. And if you come across something not on our list that you think should be, or that you want explained for you, let us know in the comments. Instead they deal in contracts that represent claims to a certain currency type, a specific price per unit and a future date for settlement. Chain Linking Each cryptocurrency has its own blockchain the digital ledger that stores all transaction records. Block, the blockchain is made up of Blocks. Effectively, it's the digital code defining each fraction, which can be owned, bought and sold. This programmed contract is set up to execute and carry itself out automatically under specified conditions.
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