Crypto slang/termonolgy A MUST READ

Entering the world of Cryptocurrency "can" be a very strange and confusing world to enter.

Cheers to you for taking the first step to becoming a Cryptocurrency Guru.

Throughout the last few days, I have compiled a list of easy to digest Crypto related Acronyms/Terminology/Slang.

I hope after understanding These Key Terms reading Crypto content will be more palatable.

*FUD - “Fear Uncertainty and Doubt” This is one that you will hear frequently in the crypto world. Spreading FUD is a common tactic used by large Corporations/Entities to control the market favourably in the direction they want it to go. Example: Person A “Idiot” says “Bitcoin is a Ponzi scheme” Maybe he is someone famous.. Person A is spreading FUD.

*ALT - “Altcoin” after the creation of BTC many other projects began to pop up in the Cryptocurrency space all coins created after BTC are called ALTs or Altcoins.

*FOMO - “Fear Of Missing Out” The Sudden explosion in the value of BTC had many people buy into the market right at the end of 2018. Example: Person A “Me” starts investing 20$ a check starting the beginning of 2016 into Cryptocurrency. Person B “Friend” watches My money grows in value nearly “1000% in some cases.” Despite me telling him not too FOMO kicks in and he Puts 5000.00 USD into the market at the beginning of December 2018. I still feel bad even though I told him not too many times.

*DYOR - “Do Your Own Research” This one is self-explanatory.

*BTD OR BTFD - “Buy The Dip or Buy The Fucking Dip” Refers to buying into the Bitcoin/Cryptocurrency market then the value is down.

*SATS - “Satoshis” This refers to the smallest fraction of a Bitcoin. *Example - .00000001 BTC.

*WHALE - This is a person or entity that has a large amount of Cryptocurrency.

*PnD - “Pump and Dump” this is a group of people that try to manipulate the market price by putting short term pressure on a traded pair usually on a small exchange with little volume.

*MOONING - Refers to when a Cryptocurrency is experiencing tremendous growth this pump in price is called “mooning”

*BAG HOLDERS - Refers to the person or people left holding or “HODLing” coins after a currency dies off or experiences huge losses and everyone else sells off.

*FIAT - This is a term that refers to the traditional paper money system.

*MCAP - Refers to Market Capitalization or the total amount of money in an asset or asset class.

*DEX - Or Decentralized Exchange is a Cryptocurrency Exchange that is strictly person to person without a middleman. With all the hacks of Centralized exchanges, it's no wonder that DEX exchanges are gaining in popularity lately.

*ICO - “Initial Coin Offering” This is a popular way of raising money to fund development of a Cryptocurrency project. “Buyer Beware! If it seems to good to be true, IT IS!” The ICO space is full of bad actors just waiting to take your Crypto.

*STO - “Security Token Offering” Similar to an ICO a STO raises money to fund development of Cryptocurrencies that are considered “Securities”

*Security - When you are promised some kind of compensation for buying/holding a asset that asset is considered a security.

*OTC - “Over The Counter” refers to a type of trading this is done directly between two parties this results in prices staying stable even when Buying/Selling large quantities.

*CPU - “Central Processor Unit” This of the CPU as the brains of your computer this is where all information is processed or computed.

*GPU - “Graphics Processing Unit” This is a component of your computer it is where all the images you see on your screen come from. As of lately, GPUs have been used to mine Cryptocurrency.

*DOA - “Decentralized Autonomous Organization” Is a group of people of Companies that abide by a common set of rules agreed on by all. This group is completely uninfluenced by outside parties/Government.

*ATH - “All Time High” This is referring to the highest price an asset has been traded for.

*Bollinger Band - Brought to us many years ago by Dr. Bollinger. The Bollinger band is a tool used by traders to measure if an asset is over or undersold.

*Mining - Is the process of acquiring new Cryptocurrency by using your computer's resources to do complicated calculations.

*Cold Storage - This is a way of storing Cryptocurrency completely off of the internet and to date is the most secure way to store Cryptocurrency.

*Hardware Wallet - This is a piece of physical hardware used to securely store Cryptocurrency. “Buyer beware in recent times people have had all there Crypto stolen because of a “Hardware Wallet” that was tampered with.

*Bit Shaming - When a Cryptocurrency owner is made fun of for not being rich “yet”.

*No Coiner - Is a person that is outside the Cryptocurrency world. They have “No Coins” and are not interested in the Cryptocurrency market.

*SEGWIT - “Segregated Witness” Is a proposed amendment to the BTC chain that changes the way data is stored. This allows the BTC developers to put more Transactions into each BTC block increasing the scalability of BTC.

*VAPORWARE - Is a Cryptocurrency project that is built on pure hype but has no working product.

*Rekt - come from the word “wrecked” and is used when someone makes a bad trade that makes him/her lose money.

*Bull Market - Is when market value is going up.

*Bear Market - Is when market value is going down.

*Shrilling - This is the act of advertising a crypto platform to either increase or decrease the price of the asset.

*Stable Coin - Is a currency tied to a stable asset. These “Stable Coins” do not fluctuate in price like traditional Cryptocurrencies.

*ROI - “Return on Investment” this is the amount of time it takes you to recoup the money you invested into an asset.

I know I know..there are WAY more out there. This is just a start I want you Uptrennd to help me out! Please list in the comments important Terminology I missed.

I will be using this content to make a video today when I get off work so keep your eyes peeled for more content from little old me.

Are you new to the Crypto scene? We were all there at one point! If there is something I can write about to help you along your Crypto journey please just let me know! I would love some suggestions from the community!
I'm always willing to help out the new people!

Posted using Partiko Android