HODL and Other Cryptocurrency Terms that make you go HUH!!!

The Meaning of HODL

In today’s world, you’re either a crypto enthusiast or you are not. As an outsider, you look at the cool kids’ and long to understand the jargon and terminology being used. Understanding it might even be your ticket into this exclusive club. For those who are not but wish to be a member of the club, you need to understand some certain terms so as not to look or sound out of place.

For example, HODL means to hold a cryptocurrency instead of selling it. The origin of the slang term comes from a post on the Bitcoin Forum message board on December 2013, where a drunk user posted a message with a typo in the subject, “I AM HODLING”. It did not take long for the word to spread like wildfire, manifesting into Internet memes and pranks. The word HODL also led to the backronym: “Hold On for Dear Life”.

Other Cryptocurrency terms:

Other often used terms within the cryptocurrency space include:

1. Altcoin – an alternative cryptocurrency to Bitcoin like ETH, XRP and GTX.
2. FOMO – stands for “Fear of Missing Out”.
3. Bagholder – someone who holds onto a cryptocurrency that drops until it is worthless.
4. To the moon – an exclamation used when cryptocurrency prices are rising to astronomical levels.
5. ATH – stands for “all-time high”, referring to the highest price that a cryptocurrency has achieved.
6. Whale – someone who owns a lot of cryptocurrency or cryptocurrencies.
7. OCD – stands for “Obsessive Cryptocurrency Disorder”, used to refer to a condition developed by those who can’t stop obsessing over the rise and fall of the value of their coins.
8. FUD – stands for “Fear, Uncertainty and Doubt”, used to refer to negativity spread in the media about cryptocurrency.
9. Shill – someone who promotes altcoins for his or her own benefit.
10. Rekt – used to describe an investor when he or she makes a bad trade like selling their cryptocurrency before the price rises.

There is a lot more jargon to keep track of, especially as the conversations around cryptocurrency and blockchain continue, but the above 10 terms will help you understand some of what is being said without any FUD!!!

For more information, go to www.gallactic.io