Following the Financial Independent Retire Early FIRE principle, Mr. James from New York invested a few hundred dollars in Bitcoin in 2013. He was also using the 20/20/60 rule, which states that 20% of income should be saved, 20% should be invested, and the remaining 60% should be used for monthly expenses, bill payments, and loan payments.

James' ambition is to save a sufficient amount out of his income so he can retire by the age of forty-five, and so he can travel to his favorite places around the world without financial worries. So as a part of his financial plan, he buys Bitcoin and now as of the year 2024, James is a multimillionaire he is living his life on his terms.. James is traveling around the globe and continues investing his profit in different markets, cryptocurrencies are still his preferred choice for trading and investment, of course, James has naturally retired early from his 9 to 5 regular bank job and he also accomplished his financial goal.

Although James is a fictional character, there must be some actual people in our community who made early Bitcoin investments and are now doing far better than those who didn't.

What is gone is gone, and we cannot go back in time to regret it. However, we can start learning about cryptocurrencies, the fundamentals of crypto trading, and the basic concepts of the coin world today. By taking small steps in these directions now, we will be able to walk confidently in the future and compete in the marathon of blockchain technology yet to come.

Let's start by learning the terms used often in cryptocurrency transactions and expanding our knowledge of the language of terms related to this industry.

Crypto Glossary

1- CEX: abbreviation for centralized exchange, it is a platform where cryptocurrencies can be bought and sold. A central body controls the exchange; a few instances of CEX include Binance, Bitget, and Coinbase.

2- DEX: abbreviation for decentralized exchange where cryptocurrencies can be bought and sold, directly between peers and without any centralized authority or intermediary.

3- ATH: All-time high refers to a cryptocurrency's greatest value ever; for instance, XRP's ATH is $3.84 in 2018.

4- Bearish: A bearish investor is one who believes that the value of cryptocurrencies is set to decline. The term "bearish" comes from the bear, who often walks with his head down and appears to be going in a sharp downhill direction.

5- Bullish: the feeling of an investor that the market will increase and prices will rise; the word is associated with the bull's typical head-up position.

6- DYOR: stands for Do Your Own Research, which suggests that one should thoroughly investigate a currency before making an investment in it.

7- Whale: A whale is a kind of investor that possesses a colossal quantity of cryptocurrencies; they are massive investors whose trades have a direct effect on the market and currency prices.

8- Blood Bath: A market is considered to be experiencing a blood bath if the majority of currency prices are declining, as price declines are typically indicated by the color red.

9- FUD: stands for Fear, Uncertainty, and Doubt, is an acronym signifying negative news about a cryptocurrency that causes investors to exercise caution and ultimately leads to significant sales of that cryptocurrency.

10- Moon: Value of cryptocurrency is extremely high.

11- Shakeout: a significant decline in the value of cryptocurrency and investors are selling in the loss.

12- DumpPump: is a market technique that drives down the price of cryptocurrencies, giving it an excellent moment to purchase them. As soon as everyone is purchasing, investors will sell their holdings and profit handsomely.

13- FOMO: Fear of Missing Out, or FOMO, is the acronym for "everyone in a market is buying a certain cryptocurrency, so shall me too" just because of the fear of missing out on a potential gain.

14- Bag Holder: An investor who has purchased a cryptocurrency, but its worth has been steadily dropping over time; as a result, he is unable to profit from his investment and must wait for the price to rise.

15- PoS: abbreviation of Proof of Stake it means the consensus mechanism in blockchain which ensures the transaction is valid.

16- Resistance level: The highest price level of a cryptocurrency for a certain period, it is usually defined on a trade graph.

17- Bloody Monday: when the value of most cryptocurrencies is on a decline it is said to be having a bloody Monday, and this usually happens on Monday.

18- Pre Mine: a blockchain developer reserving coins for himself before releasing them to the market, so he can sell if the project succeeds.

19- Buy wall: When buyers are eager to purchase but sellers are not, this leads to a shortage in the market, which drives up prices.

20- Sell wall: when there are significantly more sellers in the market than buyers, this situation results in price decline.

21- Bull Market: period of time when the price of cryptocurrencies are continually rising.

22- Bail In: Relief solution to indebted institution.

23- Bail-out: A relief solution for such an institution who is about to go bankrupt.