Cryptocurrency Common Terms and Acronyms

by El-Mohamad21

These are the most terms you will hear so let me explain them to you.

  • Address : This is were you send/receive coins.
  • Altcoin : Anything that isn’t a Bitcoin .
  • ATH : All time high of a coins price in USD.
  • ASHDRAKED = A situation where you lost all your money.
  • BAGHOLDER = A person who buys and hold a particular coin(s) in large quantity hoping to make good profits in the future.
  • BEAR/BEARISH = Negative/downward price movement
  • BearRun : When the market crash soo hard you sleep with a heartache.
  • BTFD = Buy The Fucking Dip (an indication to buy a coin when it has gone down alot)
  • Blocks : No not those in Minecraft, these blocks are records of everything that happens like transactions etc.
  • Blockchain : Its a chain of lots of blocks all records that ever happened are stored here.
  • Bot: Abbreviation for “Robot”. Accounts that are used to generate attention through automated posts or comments. These bots can be used to spread (mis)information about a specific coin in order to manipulate the price of said coin.
  • BULL/#BULLISH = Positive/Upward price movement
  • Bullrun : When market go high in the sky.
  • Cold Wallet: A wallet that does not connect to the internet. This can be a paper wallet, a hardware wallet, etc. This is often regarded as a safer type of wallet.
  • DCA : Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase.
  • DeFi: Abbreviation for “Decentralized Finance”. DeFi coins are cryptocurrencies that are developed with the goal of eliminating or greatly reducing reliance on centralized banks or other financial institutions. Many cryptocurrencies fall under this category, as decentralized finance is one of the tenets of cryptocurrency.
  • DILDO = Long green or red candles on the chart
  • DUMP = To Sell off a coin or when a coin price drops suddenly
  • DUMPING = Downward price movement
  • Decentralized : No central authority, no more bosses.
  • DYOR = Initialism for “Do Your Own Research”. This advice is generally recommended for all investments. The phrase encourages buyers to investigate the goals and values of a cryptocurrency on their own instead of relying on the word of others who may have their own motives.
  • Exchange: Some exchange websites allow buyers to deposit and withdraw cryptocurrency into a wallet owned by the exchange. While this is okay for short term storage for trading, it is inadvisable to leave cryptocurrency in an exchange wallet if it can be avoided, due to the potential for hacks or exchange shutdowns. As they say, “Not your keys, not your crypto”.
  • Fiat : Real life money minted by governments.
  • FA = Fundamental Analysis (Any positive or negative news that can affect price of a coin)
  • FUD : Fear, when you sell a coin cause you think it will fail.
  • FUDster : Someone who spreads FUD.
  • Exchange : Where people buy high and sell low like Binance.
  • FOMO : Fear of missing out, slang used when someone wanna do what everyone is doing.
  • Fork : When the developers of a coin change its protocol/rules.
  • Fee : A small amount of a coin you pay when making a transaction .
  • Gas : Same as fee but way higher, used when talking about eth smart contracts.
  • Hardware Wallet: This is a physical device that stores various private keys for your wallets. This is often regarded as one of the safest wallets, as the private seed is never typed into an internet connected device. User error can still lead to losses. For example, losing your private seed phrase can make it impossible to retrieve the private keys on the device.
  • Hot Wallet: A hot wallet is a software wallet that can connect to the internet. This type of wallet can potentially be less secure if the device running the software is infected with malware. Screen readers and keyloggers can allow malicious parties to obtain one’s private seed phrase or keys.
  • HODL : Hold on for dear life, a slang used when you hold a coin cause you believe in it.
  • JOMO = Joy Of Missing Out (When you express happiness for not buying a coin that is currently doing poorly)
  • KYC : Know you customer, some services require this from you so make sure your id have a nice selfie.
  • Long : Betting that a coin will rise in value.
  • Market cap/MCAP: Total market Value.
  • Maxi: Abbreviation for “Maximalist”. A(n) <insert crypto here> maxi is someone who believes that this specific cryptocurrency is the only valid cryptocurrency and that all others are inferior or doomed to fail.
  • Mining : Miners get rewarded for using their PCs or asic miners to mine new blocks on the blockchain.
  • Mnemonic Phrase : is a 12/24 words that holds all your assets, keep it safe.
  • Mooning : Used when you think a specific coin will increase a lot in value and you say to the moon.
  • OTC = Over The Counter
  • Paper Wallet: A paper wallet is a document (often printed) that includes a QR code and the keys associated with a wallet. These can be safer than hot wallets if kept safe, but it still requires the private keys to be saved to a device, which leaves the keys vulnerable on infected devices.
  • POW : Proof of work, new blocks are generated by the miners and the network verifies it.
  • POS : Proof of stake, new blocks are mined according to how many coins you got, the more the better the rewards.
  • Private key : Every coin has a private key, who owns this key can access the coins, so keep it safe.
  • Pump and Dump : A term used when a group of whales hype up a coin to trick noobs into buying it then they sell once it hits a nice high.
  • Rekt : When a trader loses alot of money on trading.
  • REVERSE INDICATOR = Someone who is always wrong predicting price movements.
  • RSI = Relative Strength Index
  • ROI : Return on investment, when you buy a coin and hope to get profit from it.
  • Short : Betting that a coin will drop in value.
  • Shill – someone who promotes a coin they own because they want more people to buy it to increase the price
  • SHITCOIN = A coin with no potential value or use
  • Stablecoin : Coins that are pegged to fiat like USD/EURO ect.
  • Swap : When you instantly swap any 2 coins based on market value.
  • SWING = Zig zag price movement (Upwards and downwards)
  • TA = Technical Analysis
  • Token : They are created on existing blockchains like Eth, an eth address can hold unlimited amount of tokens.
  • Whale : Is someone with a high amounts of a coin.

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