If you are a newbie in the crypto space, you might interact with challenging jargon on various cryptocurrency platforms. The flood of terms and abbreviations should not overwhelm you. You can utilize this list to familiarize yourself with the day-to-day crypto acronyms.
Unlike traditional financial objects like bonds and stocks, the crypto world is full of younger and digitally savvy individuals. You will find multiple online forums where crypto enthusiasts share trading strategies and market updates. Here are essential terms that might not make sense to you at first.
FOMO
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FOMO (Fear of Missing Out) triggers new investors to stake huge to enjoy the anticipated high returns. With this emotional response, most traders make impulsive investment decisions, purchasing the tokens at their highest price. The best thing is not to react to the fear of missing out.
HODL
Started a “HOLD” misspelling, HODL means Hold On for Dear Life. You will interact with this term when the near-term market indicates high volatility contributing to fluctuating crypto prices. When a coin falls, experts advice holding it for dear life rather than selling it.
FUD
FUD (Fear, Uncertainty, and Doubt) is a strategy by crypto enthusiasts to distribute false information and doubt concerning market movements. They use this tactic to drop the value and price of digital coins. Never underestimate what FUD can do to the overall market. It can cause economic depressions and bubble busting in the crypto market.
DYOR
Do Your Own Research (DYOR) does not need further explanation. Before the internet influence you, do your research ere any move in the cryptocurrency industry. You can find multiple websites and resources on the web that you can use to increase your knowledge before investing.
BTFD
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Buy The F-ing Dip (BTFD) aims at taking advantage of the possible price rises after a market dip. Crypto fans wait for a coin to lose value so that they can purchase and sell for profit.
WHALE
The term describes investors with substantial amounts of crypto holdings, and they can sell independently to drag the prices down. That way, they exchange the coins and purchase again cheaper. Though it is an ethical trading method, it is manipulative since only investors with massive holdings benefit.
