Just like in any profession or industry, there are acronyms used regularly to express more in-depth knowledge and experience about such profession, the same applies to blockchain and cryptocurrencies in general. Sometimes, it is used by people to show their level of expertise and command respect.
In crypto, there are so many acronyms that you will come across as an investor, trader or an inquisitive mind. Many of these words are used on social media platforms like Reddit, Bitcointalk, Discord, Facebook, Twitter, Telegram where crypto related topics are actively discussed. Getting used to them would make understanding the crypto world better especially if your are just joining crypto.
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.
STO – Security Token Offering.
ALTS – Simply means Alternate cryptocurrency, that is any cryptocurrency other than the most popular coin, Bitcoin.
DLT– Distributed Ledger Technology which s another term for blockchain.
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 HODLER – An individual who buys and holds coins in large quantities hoping to make good profits in the future. A long time hodler.
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 dip 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.
Is there any new acronym not covered in this post? Kindly drop a comment about the ones you know in the comment box.