List of 20 Cryptocurrency keywords every beginner should know
HODL – Holding a coin for the long period
HODL is a term in cryptocurrency world for holding a cryptocurrency for long period without selling it. A person who is holding cryptocurrency for long period is known as HODLER. The term HODL derived in December 2013 where one user was posting in Bitcoin forum and due to typo error he typed “I AM HODLING” in the subject line. HODL was a backronym to “hold on for dear life”.
Altcoins – Every cryptocurrency launched after Bitcoin.
Cryptocurrencies and any other digital assets which are not Bitcoins are known as alternative cryptocurrencies, which having a short term called “Altcoins”. Paul Vigna of The Wall Street Journal described Altcoins as “alternative versions of Bitcoin”.
FOMO – Fear of missing out.
This happens when a coin is rising and the user is considering buying even at a high price though it might be too late. FOMO is fear of regret, it may lead to concerns that one might miss an opportunity to buy.
Moon where everyone wants their coin to go, up and in space.
Someone who is holding a lot of coins in the hope that they will go up in the future.
Shitcoin – A worthless and dead coin with no real value.
The shitcoins are the cryptocurrencies which are of little or no value. A digital currency with no purpose. It was often used to described altcoins or crypocurrencies developed after Bitcoin. These currencies are considered as bad investments.
DYOR – Do your own research
Cryptocurrency enthusiasts use DYOR as common phrase. DYOR is used on internet due to how fast misinformation can be spread. It aims to reduce misinformation which was posted on different websites and social media. DYOR encourages investors do your own research before investing.
FUD – Fear, uncertainty, and doubt
FUD is a tactic used in sales, marketing, public relations or politics. FUD – is an short form for ” Fear, Uncertainty, Doubt.” It means created situation when rumors or unconfirmed news about a particular cryptocurrency have affect on its course.
Whale – A super-wealthy trader with a lot of money to spend and buy
A whales in cryptocurrency known as “crypto whales”. Whales are the individuals or entities which holds large amounts of cryptocurrency and they have power to manipulate the market.
The Method by which cryptocurrencies are generated and new coins transactions involve are verified known as Mining. Mining is the process of verifying transactions on the blockchain, resulting in rewards or coins for those who lend their computing power.
REKT – When a coin goes down sharply and user suffer a big loss
REKT refers to cryptocurrency trader who is destroyed due to losses from recent price crash. REKT happens when cryptocurrency trader gets into FOMO and becoming a victim of dump and pump.
Lambo – The car that many people want to buy after becoming rich with cryptocurrency
“When Lambo?” was a phrase that became common among cryptocurrency enthusiasts during the early days of Bitcoin. Lamborghinis are expensive cars and they were a sign of aspiration regarding what cryptocurrencies like BTC would one day be worth. Many wealthy cryptocurrency investors have bought Lamborghinis as a symbolic gesture of their success in the market.
When the price of a coin in the market is moving up and down at a rapid rate.
Pumping – A coordinated effort to boost a coin price by buying a lot of it all at once
Cryptocurrency pump and dump is a situation where an individual or group of individuals to make a profit by pumping an coin into the market. The term pumping refers to the purchasing of large quantities of coins to push the demand and price of respective coin up.
Bearish – When the sentiment on a coin is negative
Bearish in cryptocurrency trading means trader believe that market, coin or financial instrument is going to experience downward trend.
Bullish – When the sentiment on a coin is positive
Bullish in cryptocurrency trading means trader believe that market, coin or financial instrument is going to experience upward trend.
Exchange – Websites that allow you to purchase and sell cryptocurrencies
A exchange is a platform on which trader/investor can buy and sell cryptocurrency. Trader/Investor can use exchanges to trade one crypto for another, converting Bitcoin to Litecoin, Bitcoin to Ethereum etc, or to buy crypto using regular currency, like the U.S. Dollar. Exchanges reflect current market prices of all the cryptocurrencies they offer.
ICO – Initial coin offering
Intial Coin Offering ICOs are the means by which businesses use to raise capital and it is not regulated by any bank or financial institution. Through ICO investors receive unique cryptocurrency “tokens” in exchange for their investment in the business.
FORK – When a blockchain splits into two separate chains
Cryptocurrencies like Bitcoin and Ethereum are powered by decentralized, open-source software called a blockchain. A fork happens whenever a community makes a change to the blockchain’s protocol, or basic set of rules.
Airdrop – Campaign that distributes a specific cryptocurrency or token to an users
Airdrop is a marketing strategy adopted by crypto startups to promote the project and their new token. It involves distributing their cryptocurrency to new or potential users’ for free.
What is full form of ATH in Cryptocurrency?
The full form of ATH in Cryptocurrency is All Time High.
What is full form of TA and FA in Cryptocurrency?
In Cryptocurrency the full form of TA is Technical Analysis and FA is Fundamental Analysis.
What is Genesis Block in Cryptocurrency?
Genesis Block refers to the first block in a blockchain, used to initialize a particular network.
What is Airdrop in Cryptocurrency?
Airdrop means a campaign that distributes a specific cryptocurrency or token to an audience.
What is Bubble in Cryptocurrency?
Bubble means when an asset is traded at a price exceeding that asset’s intrinsic value.
What is FIAT in Cryptocurrency?
FIAT refers to any currency that is issued by a government.
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