by Hodler Ash 
A Quick Guide To Cryptocurrency Terms And Definitions
Cryptocurrency is one of the most trending markets in the last few years. This is a world that is considered to be very addictive by maximum of the traders because investing in a certain coin or token and expecting its price to grow is an interesting thing too. However, if you are a new person who is willing to learn about the cryptocurrency market or is very much interested in trading, it is very important for you to know some of the cryptocurrency terms which are very widely used in the cryptosphere but are not commonly used in non-related conversations.
The reason you need to know all these terms is that otherwise, a lot of things that the other person in the cryptocurrency market says, will just go above your head. Here are some of the very important cryptocurrency terms :
FOMO
FOMO is a very widely used abbreviation which is not only one of the cryptocurrency terms but also, are used by many people in the common world. The full form of this is the “Fear Of Missing Out”. This ‘fear of missing out’ actually affects the market because investors think that a good opportunity, if missed, would be a loss on their sides which is why they buy that particular coin which maximum of the traders are buying. This FOMO does not affect the really experienced investors because they are going to stick to their strategy anyway. That is the right way to trade and not to get FOMO often.
HODL
HODL is one of the silence in the cryptocurrency community which is used for somebody for holding a particular cryptocurrency when he/she should have sold it. Back in December 2013, somebody posted on the Bitcoin forum with a typo saying “I AM HODLING”. That was when this word was originated and now is used in the market. Many traders stick to the initial plan which is why they hold a certain token and even when the prices of it is falling or even when the other traders don’t see any more potential for rice in price. That is when the traders hold their tokens.
FUD
This is the abbreviation of fear, uncertainty and doubt. There are many people around the world who think that Bitcoin and the whole cryptocurrency world is a bubble without realising the real potential of the market. This FUD is even spread by a lot of rumours saying that a particular cryptocurrency is fraud and so on. That also crashes the price of a certain token if some traders start taking the hoaxes seriously. A lot of research is supposed to be done before investing in any cryptocurrency (be it Bitcoin or any other). The fear, uncertainty and doubt are to be questioned first.
SAFU
In the cryptosphere, SAFU is the word that is used to denote ‘safe’. There was a Bizonnaci YouTube channel who used this word for the first time and ever since then, it is commonly used. This then became a Crypto meme after the Youtuber made this funny video about the Binance CEO’s tweet which said “funds are safe”. It did not take much time for the thing to become a Meme and get very popular in the whole world of cryptocurrency. In fact, it has also turned into a Crypto slang but nevertheless, this is one of the most used cryptocurrency terms of all time.
CryptoJacking
Cryptojacking is actually a criminal offence which is done by using a lot of ransomware-like tactics and poisoned websites to get the access of the employees’ computers and mine cryptocurrencies with them. This is an unauthorised use of someone else’s computer which is exactly why it is called a crime. The hackers get the victim to click on a malicious link somehow which is sent to them as an email. This link loads a lot of cryptomining code which is what mines the cryptocurrencies, henceforth. Another way hackers follow is by infecting a website or online ad. The JavaScript code auto-executes after that.
ICO
Initial Coin Offering ( ICO ) is one of those cryptocurrency terms which are supposed to be known by a trader who is new to the market. It is a fundraising mechanism where new projects sell their leftover crypto tokens which are exchanged for ether or Bitcoin. In the blockchain community, it is actually a new phenomenon but has become a very dominant topic of discussion. For a more clear understanding, the reference of ‘initial public offering’ might help. Investors purchase shares of a company initially when they are offered to the public. That is what exactly happens with the initial coin offering (just that shares are not being sold but coins are).
Lambo
Lambo has become the short form for the success in the crypto market. There are many cryptocurrency millionaires in the market who are always being looked up to. There are many cryptocurrency terms to define a lot of things but Lambo has been one of the outward symbol for bro culture. Many traders ask each other using the sentence “When Lambo?” which basically means when is the other trader going to be hugely successful in the market. The origination of this happened when the crypto millionaires started spending their Bitcoins on Lamborghinis. If ever a list of cool cryptocurrency terms is made, Lambo is going to be at the top
SATS
This is the short form for Satoshi which is 100 millionth of a bitcoin. The last unit of measure for any Bitcoin is hundred millionth of itself and that unit is called Satoshi. Satoshi is actually the name that is given to the person or the group who created Bitcoins. The price of the Bitcoin is so high that even hundred millionth of a bitcoin holds some value. Mathematically, 1 Bitcoin is actually 100 million Satoshi. This is the finest amount that can be recorded in the blockchain and on March 2018, 1 US cent was approximately 9419 satoshi. These small units are very convenient and undoubtedly, SATS is a highly used word.
Moon
Moon is one of the cryptocurrency terms which is actually very symbolic. When the price of a certain cryptocurrency token goes very high and are rising off the charts, that is exactly when the word ‘Moon’ is used by the traders. It is an exclamation of happiness and it is framed somewhere in the lines of “the prices are going to the moon”. When the price of the particular coin is being referred to as “mooning”, it basically means that it has hit a peak. These cryptocurrency terms make the cryptosphere a much more interesting place to trade and survive in.
Crypto Bear
Crypto bear basically refers to that part of the market which is defined by negativity and caution only. In a bear market, all the traders are supposed to expect lower highs and lower lows which is the reason why reacting correctly to the crypto bear market is very necessary. Any successful trader what consider this as one of the most important cryptocurrency terms because it does not only define the market but also gives you a base plan to act according to. Undoubtedly, it is very important to align the trading activity with the type of market in order to get the most profit.
Whale
Whales are referred to as the traders who hold significant amount of a certain cryptocurrency. They are, indeed, the whales of the sea where many so many other smaller fishes are also present. These whales have so much of a certain coin that when they buy or sell, not only a splash but a wave is formed in the market which is very much impactful on the whole market of the cryptocurrency. They have the power to change the market by the digital wealth they have in their wallets. This is one of the most significant cryptocurrency terms because any new trader should know about whales and their power to move prices in preferred direction.
Crypto Bull Run
Crypto Bull Run is one of the three most significant cryptocurrency terms which is actually the opposite of a bearish market. This is defined by pure optimism which means that every single trader is supposed to have a positive outlook and once they have so, they are referred to as “bulls”. The direction of the market prices are analysed and these bulls stay really optimistic about the movement of the price graph. Coming to the prices in a bull market, every single trader can expect higher highs and higher lows where more and more buying is always encouraged for making more profit. The best example of Crypto Bull Run what’s the Bitcoin’s huge price in price around late 2017. Undoubtedly, traders look for a Crypto Bull Run because that is when most of the profit happens. This is why it is considered one of the most important cryptocurrency terms.
Going Long
Going long with a cryptocurrency means showing huge amount of interest in purchasing a kind of cryptocurrency. Buying an asset and hoping for the price to go up in the future is what it loosely is. The profit potential in going long is absolutely unlimited because nobody can strategise very far in an unpredictable cryptocurrency market and limit the profit my putting a ‘maximum profit’ label to it. Many traders who do not have enough time to keep checking the market thoroughly prefer this and there is absolutely nothing wrong with going long. In fact, going long opens up a lot of doors of opportunities to make profit.
Going Short
Going short is another phenomena and a very important one for the day traders. Many people are still sceptical about cryptocurrency tokens and Bitcoins which is the reason why this of all the cryptocurrency terms is arguably the most important. So many traders don’t have faith in their investment which is the reason why they survive on small profits and are very happy with them. If the traders/analysts realise that the prices of the particular cryptocurrency token is going to fall in the near future, they are more likely to sell it or advice to sell. A lot of cryptocurrency terms require experience to be understood by the newcomers and this is one of them. Going short gives lesser profit but the risks are also minimised. A trader can go short for one day or it can be several weeks too, depending on the condition of the cryptocurrency token.
Rekt
This is a word which is actually derived by ‘wrecked’. A wrecked individual basically means a person who has been completely destroyed in some way or the other and according to the cryptocurrency terms, when a cryptocurrency investor has done a very bad trade, that is when he/she is referred to as rekt. It is one of the most watched cryptocurrency terms that is used as a cryptocurrency slang and definitely, elucidating all its applications has become hard. The term basically means total financial loss but it does not limit to that only. Even if a trader did not lose huge money, if he/she just sold a certain amount of cryptocurrency which would have earned him/her very good profit if he/she would have kept it for a little longer, that trader would also be considered ‘rekt’. This word is actually taken from the online gaming world.
Shitcoin
Shitcoin is a pun for ‘Bitcoin’. This is actually one of the very informal cryptocurrency terms that is used to describe an altoin that became worthless. There are many coins which come in the cryptocurrency market and goes without staying for long. The value of these disappear because the interest of investors could not really match the expected interest shown in the cryptosphere. Nevertheless, the main reason why a coin transforms into a shitcoin is because the price was based on speculations only without looking at the market trends thoroughly. Many investors struggle to draw historical parallels and holding a potential shitcoin for long is definitely not a good step to take. Education about these cryptocurrency terms is very necessary to get a clear view of the market and the phenomena that take place.
Bag Holder
There are many investors in the crypto market who are very firm on their beliefs and strategies. These traders hold a security for very long because they somehow belief that the value would be increasing in the near future even when the value is decreasing currently. These kinds of investors are called bag holder and sometimes, stubbornly retaining to the positions in the cryptocurrency market leads them to a point where the value of the investment reaches 0. The bagholder is the word that hailed from ‘Great Depression’ time when people used to stand in lines holding potato bags.
Addy
This is an addition in the glossary of the cryptocurrency terms which is a short form for Bitcoin address. The Bitcoin address is something that is very necessary for a trader to identify the specific digital token he/she owns. The Bitcoin addresses are not intended to be permanent by any means and is used just as a token in a single transaction. The Bitcoin address is not also capable of holding balance and it is just a group of 26-35 alphanumeric characters. The string of the Bitcoin address can contain numbers, uppercase alphabets and lowercase alphabets. Addy is one of the most significant cryptocurrency terms to not forget because of the obvious reasons. If a trader asked for your Bitcoin address and referred to as “Addy”, you would not have been able to understand if you did not have the knowledge about this which is exactly why this of all cryptocurrency terms is considered extremely important. These addresses can also be created offline without any sort of internet connection and does not require registration with the network (which is a plus point).
Weak Hands
Weak hands is one of the cryptocurrency terms which is used to refer to the traders aur investors who are not really strong enough in terms of resources and strategies. There are many such people in the market who are driven by the emotion of fear and quickly exits positions which are not supposed to be left. Without a doubt, this is going to result in losses because a little fluctuation in the price of the certain cryptocurrency token that the trader owns is going to make him/her afraid which will, in turn, make the trader sell the coins when the right time did not even arrive. The ultimate result of this weak hands is buying at the highs and selling at the lows which is definitely not something that is an ideal thing to do in order to succeed in the cryptosphere. This one, of the cryptocurrency terms, is very frequently used because weak hands keep coming in and going out of the market. The bottom line is that small price movements should not divert a trader from the strategy.
DYOR
This is the short form for “Do Your Own Research” which is a very important advice for all the newcomers in the cryptocurrency market. It is considered so, because before making an investment, a lot of things including checking the market trends and drawing the historical parallels is supposed to be done. In the cryptosphere, a trader is very likely to meet with a bunch of manipulative people who are going to advice a lot of things which are not even true or right, in general. This is why DYOR is one of the very reliable cryptocurrency terms and which is used very widely by so many traders in the market. The cryptocurrency market has definitely come a long way and it would not have been possible without every individual ‘doing his/her own research’.
BTFD
BTFD stands for “Buy The F***ing Dip” which is one of the cryptocurrency slangs that are used when people are basically running around and selling because of fear. Actually, when many traders sell a certain cryptocurrency token during the time of downfall of the price, that is actually a good time to buy. Of course, this principle does not apply all the time and a lot of analyzation and strategy is required before coming to the conclusion. If there is a chance of positive outcome, a person should definitely buy the f***ing dip. That is the perfect time to cash in and maximize profits which is something that many people do and the term is very popular.
Choyna
This is an intentional misspelling of China which is also the way Donald Trump pronounces China. China is one of the biggest markets and many people in China invested in Bitcoin and other cryptocurrencies which is very influential for all other traders around all other countries. Choyna, as a imitation of Donald Trump saying China, became very popular which is why the people in the cryptocurrency world decided to call China, “Choyna”. Undoubtedly, cryptocurrency terms can sometimes get really funny. Many jokes were cracked and memes were created on this term ‘Choyna’ and that is when it became so popular.
Dildo
This is one of those cryptocurrency terms which is about the graphs and not the market itself. It is actually a big candlestick which is either green or red. These green candlesticks and red candlesticks mean a sharp and sudden increase or decrease in price respectively (in the graph). A dildo is actually very important for a trader or a strategist because the price trend can be easily understood by looking at them. Any rise and fall in the price of a certain cryptocurrency can be analysed seeing these candlesticks and that is how an investment can also be planned. In an unpredictable market like the cryptosphere, it is absolutely important for a trader to know his/her priorities ofcourse, but more than that it is important to know the price trends and the market trends collectively. After analysing and strategizing, the investment is to be done.
This was the glossary of cryptocurrency terms that every new/old trader is supposed to knowledge about.
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