Beginners Guide To Cryptocurrency - 10 Slang Terms Everyone Should Know.

in cryptocurrency •  last year  (edited)

When I started getting into cryptocurrency and began to frequent the various forums and webpages I noticed allot of the same "slang" words / terms appeared frequently. Chances are if you been into cryptocurrency for any amount of time you heard all these terms below before.

If you are just joining the crypto craze then ( first of all welcome it is addictive ) you will find the info below very useful.

Likely the most popular slang term is " HODL " which is an acronym for "Hold On For Dear Life". You will hear this allot. You are more or less are being told to hold your investment and not to sell. The person typing HODL also could be indicating that they themselves are a holding for long term profits.

Another popular Slang term you will hear is " FUD ". People use this word when describing or dismissing false rumors and negativity towards an investment they have made.

"Whale", this is a person that owns allot of cryptocurrency. They can influence the market due to the amount of coins they buy and sell.

Pump And Dump, This phrase is used to describe the act of a group of people who get together and decide to buy ( Pump ) a certain coin. This creates demand in the marketplace and the coins go up in value. They then proceed to sell ( Dump ) the coins for a profit.

Mooning / To The Moon : A term used by investors that want their investment to reach high levels of returns. The process in which an investment is starting to rise significantly in price.

Shill / Shilling : A person who tries to create a buzz around a certain product / Coin. They have an invested interested in seeing the product succeed.

Sats : "Sats" is short for "satoshis," which is the smallest fraction of a Bitcoin you can have.

ICO : Initial Coin Offering or ICO is a way to raise funds for a new cryptocurrency venture. Investing in an ICO is risky but can give back high profits.

Altcoin : Is any coin that is not a Bitcoin.

Bagholder : This describes someone who missed their chance to sell. They are currently holding coins that have greatly diminished in value. A Bagholder could be a victim of a pump and dump.

Thanks for reading and I hope you now have a better understanding of these phrases.

Good Luck With Your Investments !!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

the best way for crypto is no panic and a lot of research . Nice post

·

Yes, research is important.

Thanks for the crash course. I was wondering what some of these terms meant but hadn't had a chance to look them up yet. Very helpful!

·

You are welcome. I am happy my article helped you out. Good luck with your investments.

Cool article, thanks for sharing this good information.
Here is the link to my post you check out any time.
https://steemit.com/steemstem/@arthurjnr/why-condoms-fail-among-teenagers

·

Thanks for your comment.

@AdGoggleKo Just tweeted your post. 👍😊

·

Nice, Thank You !

This post has been shared by @andrea97

·

Great, Thanks !

Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase https://
3. Type re
Get Featured Instantly � Featured Posts are voted every 2.4hrs
Join the Curation Team Here | Vote Resteemable for Witness

This post has received a 0.12 % upvote from @drotto thanks to: @rentmoney.

Resteemed by @resteembot! Good Luck!
Curious? Read @resteembot's introduction post
Check out the great posts I already resteemed.

ResteemBot's Maker is Looking for Work

You got a 1.96% upvote from @thebot courtesy of @rentmoney!
I have 10% guaranteed positive return on bids to help minnows.
Delegate me to get 95% profit | 10 SP, 20 SP, 30 SP, 40 SP, 50 SP, 75 SP, 100 SP, 150 SP, 200 SP, 250 SP, 300 SP, 400 SP, 500 SP, 1000 SP or Fill in any SP.

Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase https://
3. Type re
Get Featured Instantly � Featured Posts are voted every 2.4hrs
Join the Curation Team Here | Vote Resteemable for Witness

I follow you follow me please. And I upvote you everyday.
Last upvote here: https://steemit.com/@underworld24

·

Done, good luck with your account !

Upvoted you thanks for voting @aftabkhan123 follow me to get a guranteed free upvote just send a url link of your post to get upvoted thanks