Unless you have been living under a rock, you must have definitely heard of the term ” Cryptocurrency”. Seeing the astronomical rise of Cryptocurrency, I also decided to jump on the trend.
In order to know more about Cryptocurrency, I decided to join a Telegram group. However, it didn’t go well, to be honest. All the people over there were using technical terms and everything seemed alien to me initially. Then, I turned to Goole for help and finally understood all the technical terms. So, if you are also just starting out, then you too will face the same problem. Before joining all those Telegram or Whatsapp Groups, it will be better if you have a good understanding of some of the frequently used jargons.
One of the most common terms which you will find in a cryptocurrency related conversation is HODL. So, you must be wondering what does HODL mean? Well, the term first originated in 2013 thanks to a member named GameKyuubi
. He misspelled HOLDING as HODLING and since then it has become extremely popular. HODL stands for Hang On for Dear Life. It basically means holding on to your cryptocurrency in spite of the value going down.
Here are some more common terms:
1. FOMO ( Fear of Missing Out): It refers to the fear of missing out on a great opportunity to make a profit.
2. ATM ( All Time High): It means that the price of a cryptocurrency is at its peak.
3. BEAR: If you are active in the stock market, you must have definitely heard of this term. It means you are expecting the price of a cryptocurrency to drop and you want to sell it as soon as possible to minimize the loss.
4. WHALE: It refers to a rich trader who believes that the price of a cryptocurrency will increase. This is a frequently used term in the gambling industry.
5. BEAR WHALE: This is the exact opposite of WHALE. It refers to a rich trader who believes the price of a cryptocurrency to fall.
6. BAGHOLDER: It refers to a person who has retained a cryptocurrency with him for a long period of time. He needs to act fast in order to make a profit out of it.
7. REKT: It refers to the word “wrecked” and is frequently used in various social media platforms. It refers to a trader who is suffering from a severe financial loss due to the fall in the price of a cryptocurrency.
8. TO THE MOON: It basically means that the price of a cryptocurrency is increasing at a significant rate and sky is the limit.
9. ADDY: It is the short form of Address. Every cryptocurrency has an address. So if someone is asking for your ADDY, he is referring to your Cryptocurrency Address.
10. FUD ( Fear, Distortion, and Uncertainty): It means you are not sure whether you are making the right decision or not. If you are new to the industry, you will frequently go through this phase.