10 CRYPTOCURRENCY SAYINGS YOU MUST UNDERSTAND
This is another article dedicated to all new people in the cryptocurrency-space:
When talking about cryptocurrencies there are a lot of terms that get used everywhere, all the time.
- Problem: These terms/sayings won't mean anything to people who are new to cryptocurrencies. I can understand; when I started I also had no clue what people were saying, but research does miracles!
This article will help you understand most cryptocurrency terms and after reading you will probably start using them yourself! Enjoy.
THE LIST
1. HODL - “Hold on for dear life”
This saying was first used in 2014 and was probably a typo of a drunk guy wanting to type HOLD. Since then, this misspelled term became very popular in the Bitcoin and cryptocurrency world.
When a person says he will HODL - it means the person will not sell his coins and he believes his coins will be profitable one day, if not today.
2. FOMO - "Fear of missing out"
This term means the fear of missing out on the profit which might result from an investment or a decision.
Basically this term indicates people buying on horrible moments (when prices have already increased by much)
3. ATH - "All time high"
This means that the price of a certain cryptocurrency or coin has broken all of its past records and is trading at the highest price it has ever achieved.
For example: When people buy on ATH's you will see a lot of people screaming "FOMO" in cryptocurrency-chats (most of the time buying coins at all time high prices isn't smart)
4. BEAR & BULL
These are terms taken from the Wall Street environment:
Bear(ish) means a trader/investor believes the prices of a particular cryptocurrency or market will fall and he wants to profit from that fall. (This is possible by selling at a certain price and then rebuying your cryptocurrencies at a lower price, if done successfully you will have more coins than before).
Bull(ish) is the opposite of Bearish, it means a trader/investor believes the prices of a particular cryptocurrency on the market will rise and he wants to profit from that rise.
Bears drive prices down while bulls drive prices up. Bears sell coins, Bulls buy coins!
5. WHALE
This is a term borrowed from gambling people. It means a trader with a fat account, usually one who is bullish (one who thinks the market will rise) on the price of any specific cryptocurrency. These people are also referred to as bullish whales.
6. BAGHODLER
This is an investor or a trader who has been holding (or hodling) for too long on a particular cryptocurrency and now has to face the consequences of that decision. You become a bagholder if you buy at a high price (ATH for example) and price dramatically drops after your purchase. You can be a bagholder for a very long time, that's why in some cases it's important to cut your losses (in Bitconnect for example).
7. REKT - "wrecked"
This is a misspelling of “wrecked”. This term refers to a trader or investor who is utterly ruined and destroyed with losses from the current downfall of a price. For example: Bitconnect REKT a lot of people!
8. TO THE MOON
This refers to a crypto’s upward momentum as it keeps climbing in price, as in, “The price of this coin will one day go to the moon!”
9. FUD - Fear, uncertainty, doubt
Fear, uncertainty, and doubt. This term usually refers to investors who are unsure of the potential of a situation.
For example: Negative news causes a lot of FUD!
10. ADDY
This refers to a cryptocurrency public address (or key). For example: “Tell me your ADDY, please.”
Personally I haven't seen anyone use this term yet, anyway I needed a list of 10 terms, so here you go!
Do you know of any other cryptocurrency terms that people should be aware of? Make sure to leave a comment!
Thank you for reading.
Feel free to upvote, comment and/or follow my blog @maxdigi if you liked this content!
Cheers,
MAXIDIGI
Nice terms. A lot of them are new to me. Thanks!
My pleasure sir!
Great post! ADDY was new for me ;-)
It's probably the least used term of the list, but who knows the knowledge might come in handy some day!
Thank you for your comment. :-)
Good to know some basics & also thanks for taking the time writing this content:)
My pleasure, feels good to educate others and myself when creating this content.
Following you now, will be looking forward to reading your posts :)
Hey thank you very much!
I'll admit there were a couple there I didn't know. Oh man I may be a bagholder of bitconnect. I'm just going to hodl. :)
I think Bitconnect is the one and only platform that scammed and "rekt" this many people, including myself.
Once the lending platform finished, I dumped my coins immediately though, I hope for you and many others that the BCC coin revives one day, but I'm afraid this token is dead forever.
Again thanks for your comment man, I love the interaction!
Oh your welcome max. I'm always going to do my part in the Steem Community. I wish I found steem before bitconnect to be honest, but everything happens for a reason. If it dies I have accepted it, if it resurrects that will be a miracle. The best ending to the story is that I didn't give up on crypto and that Steem saved my ass.
interesting post.
Thank you, more to follow!
Great post. I kept seeing HODL and had no clue what in the world it meant. The more ya know!
Happy to read you learned something while reading my content!
Very good this information for me
More information to follow, happy to inform you!
Just started checking out your blog, lots of interesting reads, I will follow and upvote all, Head to my blog @robbo921 and check my blog out.
I just did, keep on steeming bro! Thanks for your comment and upvotes.
I really appreciate it!
Nice one bro....you really did lots of resaerch about this. Thinking of venturing into crypto business but don't which is advisable to venture into your help will be gladly welcomed. Thanks.
I'm happy to help sir! I have also thought about starting a cryptocurrency-related business, so much possibilities in this space and so much people who need help starting out. Definitely a market with lots of potential. I hope we can help each other in the future.
Thanks,very cool post! I was correct in guessing the meaning of Hodl hahaha niceone!
Haha awesome! When I started, I had to Google it before I understood :-)
Thanks for the support man!
That's literally what i needed :)) gj bruh
Happy to help!
Im new to cryptocurrency but I wanted to
learn so it's good to read posts like this. Thanks for sharing. This is a great help for newbie like me. Will learn more from you. Will follow you. Thanks much🤗☺️
My pleasure, hope you will learn a lot more on my channel! Good luck to you. :-)
Keep steeming!
Thanks! I'm sure will learn a lot from you! See you around.
I knew about all of those besides the last one lol, ADDY! Its a new term for me. Very great post of how you list all the terms in cryptocurrency. Maybe you can add Bull as well since you have Bear in the list. But I guess Bull is the same as To the Moon right?
Bull is actually the opposite of bear, and yes it kinda comes down to going to the moon.
Bears drive prices down while bulls drive prices up. Bears sell coins, Bulls buy coins! :-)
Good remark, I will add this in to the article, thanks for your help.
Cheers!
right on
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The crypto-community showcase a very loyal following and often communicate in words and phrase only unique to crypto. It is not uncommon to easily come across these words and phrases on Reddit, Medium or any other cryptocurrency discussion forums.
Yeah here we have covered more information https://coinpedia.org/top-10/top-10-cryptocurrency-terms/