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Thursday, February 08, 2018

Popular Abbreviations in the Crypto World You Must Know

It is no longer news that cryptocurrencies are here to stay and likely to form more strongholds in the currency world. In fact, it seems the volume of transactions recorded daily from Bitcoin, Ethereum Ripple and others seems to be in competition with the regular fiat currencies.

While millions of transactions are recorded daily through trading, that isn the buying and selling, there are also transactions through mining and fauceting. Fauceting is the processing of getting bits of cryptocurrencies such as Bitcoin, Bitcoincash, Litecoin, Doge and others after completing some exercise which can be sold once you reach sell-able level. To know about mining through Coinpot  click here

New investors and traders are getting inducted into the crypto world everyday but as a newbie just entering the market, there many words used the in the crypto world which you have to get accustomed to. You will see them used in chat-rooms and social media a lot. They are used to describe profit, loss and other circumstances. I have compiled them so that when you come across such acronyms next time, you will not be surprised. Read and educate yourself.

Recommended: How Does ICO Work?

HODL - This simply means to hold on by not selling off a coin.
FOMO - Fear of missing out when it comes to buying a new coin. Sometimes used during ICO.
ICO - Initial Coin Offering known before as IPO.
Altcoin - Simply means Alternate cryptocurrency,  that is any cryptocurrency other than the most popular coin, Bitcoin. 
FUD - Fear Uncertainty and Doubt......It happens a lot during price crashing.
ASHDRAKED - A situation where you lost all your money 
MOON – A persistent rise in the price of a coin
IMO - I missed out. This happens when you have that feeling of missing something important. Not buying a coin or selling at a particular time.
GIMO - Glad I missed out. A situation you will be happy you did not take a step that might have landed you in a trouble.
DUMP - To sell off a coin especially when you suspect trouble and you can't hodl. It causes downward price movement.

PUMP - Upward movement in price.
JOMO - Joy of Missing Out
Bag Holder - An individual who buys and holds coins in large quantities hoping to make good profits in the future.  A  long time hodl.
WHALE – A Very Wealthy trader/Market mover. They decide a lot in the crypto world.
MCAP - Market Capitalization
DYOR - Do Your Own Research 
WEAK HAND - A coin holder prone to selling at the first sign of a deep in price.
SHITCOIN - A coin with no potential value or use. Not lucrative for business.
BTFD - Buy The Fucking Dip (a sign to buy a coin when it has dumped so hard). You can make profit with it in the future if it.

You can comment the ones you know in the comment box.

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