Crypto Slang
If you are new or newer to the increasingly vast world of cryptocurrencies and alt-coins you may have found yourself scratching your head far too often.
It's a growing field that is filled with a lot of jargon. It's made my head spin at times. But having been involved for some time now, I've been able to figure out enough that I don't consider myself a noob anymore.
Here is a short list of key terms (aka Jargon) and what they mean. It's not a complete list by any means. However it will help you get by in this crazy ever changing world of crypto.
Coin: In the context of cryptocurrency, something that is used as a medium of exchange such as transacting a purchase with another person (eg. Bitcoin BTC, Litecoin LTC, Verge XVG etc.)
Alt-coin: Usually refers to any other coin that is not Bitcoin
Token: Similar to a coin, however its main purpose is to be used by or on its creator's service or platform. They can be traded like coins but are not meant strictly as a medium of exchange outside of their primary use (eg. Pillar PLR, Etherium ETH etc.)
Blockchain: A means of virtual record keeping that is cryptographically secured
FUD: Fear, Uncertainty and Doubt. Often referred to when talking about the spread of false or fake news about a coin or token
FOMO: Fear of Missing Out. The expectation that eventually the mass of population (aka mass adoption) will want to enter the markets so they don't miss out on financial gains.
HODL: Hold On for Dear Life. This is a way of communicating that you should not sell your current position no matter what
Pump & Dump: When a person or group of influential people purposely spread optimistic news about a coin just to drive up the price so that they can sell at a profit (usually at the expense of those left holding the bag - ie. bagholders)
Whale: Someone who has a large interest or stake in a particular coin
Shitcoin: Coins and Tokens that you need to avoid and not buy. They usually are scams or have very weak business models, teams or technology/code.
NOOB: Newbie. Someone new to the crypto world. Relax. We were all there at some point
I hope this helps some people out. If you have any you want to add to me list, please do so in the comments below. I also partly wrote this for my own benefit so that I have a place to look up terms in the future.
And also someone wise once said that if you write it down it helps you remember things.
Free In Thought
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