Faucet
By CoinGecko | Updated on Apr 09, 2020
A faucet usually represents a site or app where a user can navigate to for small rewards repeated over time. Certain sites that monetize faucets involve requiring users to watch advertisements, or complete certain actions before earning their rewards.Faucets are commonly used during the early days of Bitcoin where users are able to request for Bitcoin for free, or in many different altcoins as a marketing move to get users interested in the coin.
Related Terms
Nonce
Abbreviation for ‘number only used once’ It is of vital importance next to the hash in the verification of data from the Bitcoin blockchain network.
Decryption
The process of decrypting data that was previously encrypted (made unreable) back to a readable form.
Relative Strength Index (RSI)
Relative Strength Index (RSI) is a popular technical indicator used to analyse financial markets. By charting the current and historical closing prices to evaluate overbought/oversold conditions, RSI oscillates between 0 - 100, with <30 indicating oversold and >70 indicating overbought.
Open/Close
The price at which a cryptocurrency opens at a time period, for example at the start of the day; the price at which a cryptocurrency closes at a time period, for example at the end of the day.
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