10 (More) Financial Terms You Should Know (Part 2)

Sometimes something as small as a single word or phrase can create confusion within an otherwise informative article or YouTube video. This is why we’ve decided to begin a blog series of various vocabulary words and phrases explained simply. This is the second installment in this series.

1. Ethereum

The potential consequences of default includes raised interest rates and a damaged credit score which can make it incredibly difficult to get a loan in the future.

2. Yield Farming

3. Altcoin

4. Non-Custodial/Custodial Wallet

Celsius is an example of a custodial wallet, which is a wallet backed up by a company. Though some might be concerned by this, the reality is the risk of losing funds is seriously reduced and even if a phone or password is lost, a wallet can still be recovered along with the assets stored inside.

5. Inflation

6. Default

7. Collateral

8. Litecoin

9. Sharding

‍10. HODL

HODL stands for “hold on for dear life” and is a term used when someone intends on holding their crypto currencies instead of swapping, trading, or selling.

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