Nowadays, there is a huge amount of specific words called ‘crypto slang’ which are necessary for every user who wants to become a part of the digital world.
Today, we will show you a small selection of several popular crypto terms that serve as an integral part of the cryptocurrency community. Let’s get started!
ATH
It’s an acronym for ‘all
time high’. How many times have we heard that the rate of bitcoin has set a new
record? Multiple times. That is, this abbreviation has become necessary to save
time. It means the maximum rate of a coin for all time.
Volatility is one of the
main characteristics of today’s cryptocurrency market. Every day, crypto rates
can rise or fall by tens of percent. The market is evolving, digital currencies
are becoming more popular in financial and government community, so new highs
are inevitable.
FUDster
A new version of Luddite.
The one who distributes the FUD towards cryptocurrencies, and stands for fear,
uncertainty, doubt. These three feelings are the constant companions of an
investor.
FOMO
FOMO (Fear of missing
out) is a fear of losing a profit. Applied to the cryptocurrency industry and
not only. Fomo is an obsessive fear that ‘catches’ the ‘players’ of the
financial market.
This abbreviation even has
its own place on Wikipedia, where it’s described as: ‘The syndrome of lost
profits, the fear of missing an event that will not happen again, a unique
opportunity to receive benefits’.
HODL
The word HODL can often be
found in dialogues between members of thematic channels and groups in Telegram,
Reddit, Twitter. No, this is not an acronym. And certainly not a typing mistake.
The main idea is that
users cannot be constantly mistaken, especially when automatic spell-check
functions are always ready to suggest the correct option, right?
The story saved the author’s name, time, and place of the first appearance of this term: Game Kyuubi, 2013, Bitcointalk forum. The person who created the ‘I AM HODLING’ term was probably drunk at that moment and really wanted to convey to the public the idea that, despite the price collapse, he was not going to say goodbye to his bitcoins.
The crypto community
liked the typo, and it was accepted as an official term. Hodl can be used both
as a verb, and as an abbreviation (hold on for dear life).
Pump & Dump
This term entered the stock market long before the appearance of cryptocurrencies. The price of a certain cryptocurrency artificially increases (pump) due to fake news and advertising. When the maximum is reached, the currency is quickly sold (dump) by P&D groups that pre-purchased it in large amounts.
The price of
cryptocurrency drops sharply, and scammers make a profit. On the securities
market, such activities are punishable by law. The cryptocurrency market is
mostly unregulated, but some exchanges have declared war on such groups.
Shilling
That is the process when ‘a
shill’ acts as a client. Quite often this is a whole team whose main goal is to
attract customers via advertising on social networks of knowingly fraudulent
tokens or cryptocurrencies.
Whale
A player or fund with
great financial capabilities that can influence the dynamics of the market
through major transactions. Funds or individuals who own a huge amount of
bitcoins or other cryptocurrencies are also called crypto whales. The term also
applies to people who are positive about a particular coin and contribute to
its growth.
To the Moon
The term became extremely
popular in 2017. Since then, it’s common to say about promising coins in the
community like this — ‘Someday its value will fly up to the moon!’.
If you hear from someone a name of a cryptocurrency with the ‘moon’ prefix — moon bitcoin, moon dashcoin, moon BTC cash, etc. — it means that a person firmly believes in the future of this coin.
What other cryptocurrency slang words do you know? Just share in the comments!
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