cryptocoingossip

When I started to explore the crypto world by joining forms, social media groups firstly, I couldn’t understand the many words members were communicating.

Even having a finance background I’m not able to recognise majority terms used on the groups and forms.

But after one or two months I’m able to understand the terms and the situation they used in.

As a beginner, you also face the same situation as I faced. So I decided to list slang terms used only in crypto communities to help you fastly move ahead.

And remember as the crypto community evolves many terms added.

Ok let’s hop onto the list.

HODL.

If you first hear the term HODL and it seems for you that there is a spelling error then, you are right.

HODL is a misspelling of HOLD which was invented by the bitcointalk member.

In 2013 when bitcoin faced sudden falling a member of bitcointalk formed a rant about his poor trading skill and made the typo HODL.

The post went viral. And the typo has become very popular and has turned into the acronym “HODL“ which means holding a coin even if it crashed, awaiting further growth.

REKT.

This is another misspelling of the word “wrecked” but not invented in the crypto world it derived from the gaming world.

In the crypto world, REKT means financially ruined or lost a considerable amount of money on a certain cryptocurrency.

FOMO.

Fear Of Missing Out in short FOMO.

FOMO is the phobia of missing a profitable investment opportunity.

It describes a situation where traders decide to invest in a cryptocurrency because they fear that it could soon increase exponentially in value.

The word originated from social media and even added to the Oxford English Dictionary.

FUD.

FUD is an abbreviation for Fear, Uncertainty and Doubt.

If someone uses shady marketing techniques to convince the people to invest in a particular coin that would spread doubt and suspicions about its qualities and thereby cause fear of it.

More about FOMO and FUD.

To The Moon.

As the word indicates if a coin price has risen dramatically and traders are optimistic about the direction of a price then it is believed that the soon price will rise enough to reach “to the moon”.

ATH.

Full form All Time High means the highest value reached by any particular coin.

ATL.

Opposite to ATH is ATL (All Time Low) means the lowest value that a cryptocurrency has been in history.

Whale.

As you know, whales are the biggest beings on the planet.

Likewise, in crypto world whale means a trader who has a significant amount of capital who can often move markets by investing a lot of money in a given cryptocurrency.

Market cap – MCAP.

Total market capitalization of a cryptocurrency which is used to rank cryptocurrency.

Altcoin.

Altcoin means “alternative coins”, those cryptocurrencies other than Bitcoin.

Shitcoin.

As the name indicates, it is an altcoin without value or usage.

DYOR.

A full abbreviation is Do Your Own Research means  don’t take any advice without relying blindly on the analysis of others and carefully evaluate your next move to invest.

ICO.

ICO means Initial Coin Offerings.

This term used to raise the initial capital by any crypto startup using crowdfunding. It’s like Initial Public Offerings (IPO).

IEO.

Like ICO, Initial Exchange Offering also a capital raising method by crypto startups but not through crowdfunding.

In IEO startups raise funds using any particular exchange platform.

Airdrop.

When a token is initially given to the user who has an asset on a particular blockchain called Airdrop.

Normally when any new tokens are distributed, they are dropped to the holder of the parental blockchain asset.

OTC.

The term OTC stands for Over The Counter means the transactions made outside of any exchange, often peer-to-peer through private trades.

BTD.

Buy The Dip stands for “buy in decline” when a coin price declines the supporter of that coin suggests you to buy because they strongly believe in the coin.

STH.

This term is opposite to BTD means “sell the high” when the coin price is going up  you made the decision to sell it.

Mempool.

The pool of unconfirmed transactions in Bitcoin.

Fiat.

Fiat currencies are centralized currencies like the Dollar, Euro.

Fork.

If a cryptocurrency split into two different cryptocurrencies called forking, example:

BTC and BCH.

ETC and ETH.

Key Pairs.

A pairing of public and private keys called as key pairs.

Nodes.

Nodes are used to store blockchain data and validate transactions.

Gas.

It is a fee you have to pay in the ethereum network for conducting transactions, creating smart contracts, or launching DApps.

Privacy Coin.

A coin strongly focused on anonymity and non traceability.

Satoshi.

The smallest unit of Bitcoin. One bitcoin is equal to 100,000,000 satoshis.

UTXO.

UTXO stands for unspent transaction outputs which occur when nodes validate transactions on the network.

SHILL.

An individual promoting Altcoin for their own benefits.

ASIC Miner.

Application Specific Integrated Circuit aka ASIC is the mining hardware unit specially built for mining purposes only.

DAO.

“DAO” stands for “decentralized autonomous organization”. These organizations are utilized through smart contracts.

Lambo.

Lambo is a short form for “Lamborghini”.

The term used when a certain asset will rise to the moon so much in price to allow the purchase of a Lamborghini.

ADDY.

Slang which used to request an address.

Ok, the list ends here.

Conclusion.

After reading the list, you’ll be able to understand the terms used on the crypto communities and clear your confusions.

Now let me know which term you have seen before and are not able to understand.

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