Steemph.Cebu gives you a background of some useful trading related terms that you are actually meeting every single day. For starters it can be extraordinarily dense but just always bear in mind that learning is a lifetime process. There's no need to rush and just absorb them one at a time. Since we are actively engaging to STEEM and STEEM DOLLARS (SBD) which are also types of ALTCOINS which later be traded to BITCOIN which is widely accepted payment system.
Most Commonly Used Slang Terms by people who are actively engaging in Crypto-Trading.
These are the most common words that you normally hear from your peers or people on the internet who are discussing something about the market. LET'S GO!
1.) HODL
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Have ever heard of this word? This word is very popular in times when bitcoin and other alternative coins decrease in market value. The term is just basically a misspelled word of "HOLD" . The word went viral way back 2013 when a popular investor/trader accidentally screamed "I AM HODLING" when it fact he truly meant was "I AM HOLDING" Then it just goes viral and people just got used to it. When you are investing on bitcoin and other altcoins, since they have a unique feature which is volatility, it's up to you if you are going to "HODL" and wait for the value to go higher or the other way around.
2.) WHALE
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This famous slang term has already been used in most of the big time Casinos in the world. The term is used to refer a trader who has a lot of bitcoins or any other altcoins who can really make a great impact in a rapid change movements in the cryptocurrency market. In the steem platform, we are using this term for people who have huge amount of investments in the platform and those who already have higher influence in the community and can definitely give you bigger rewards for having such a big voting value.
3.) ALTCOINS
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The term is basically a shortened word for "ALTERNATIVE COINS" . These are cryptocurrencies other than bitcoins. STEEM and STEEM DOLLARS (SBD) are also types of ALTCOINS. There are already hundreds of existing altcoins some are carrying significant values already like ETHEREUM , LITECOIN and RIPPLE and many more. Also, there are other ALTCOINS who are just growing and the value is not that significant or worse worthless.
4.) TO THE MOON!
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This is a very popular word used to refer that bitcoin and other altcoins are expected to reach its highest value to the point that the outer space is the limit. I am pretty sure that each and everyone of us are ever crying for the ALTCOINS that we have to literally SKY ROCKET TO THE MOON!
5.) ATH
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This is basically a shortened form of the phrase "ALL TIME HIGH" which also means "ALL TIME PRICE HIGH" . This simply means the highest price value of a cryptocurrency in the market ever recorded. It can also be associated to the term "TO THE MOON" that's definitely the "ALL TIME HIGH" value of the BITCOIN and other ALTCOINS. Like for example, by far the ALL TIME HIGH price value of bitcoin ever recorded was almost $20,000 last December 2017. So if you had bitcoins and other altcoins during that time, you were one of the most lucky people enjoyed its ALL TIME HIGH price value.
6.) FOMO
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I think everyone is already using this for it's a famous millennial slang term which is a shortened word for "FEAR OF MISSING OUT" In the crypto world, it used to refer people who are investing maybe just because they were invited
and told by their friends about the fast growing economy of the Cryptocurrency and they simply just didn't want to miss out the trend of the bitcoin. They are afraid to miss out the opportunity that cryptocurrency can give in the long run.
That's basically it for today! I have only shared some basic cryptocurrency trading vocabulary that we should be aware of. I really do hope you find it interesting and helpful. As I was saying, truly it's important for us to be literate in cryptocurrency trading since we are dealing it each day like selling STEEM and STEEM DOLLARS (SBD) and we trade them to bitcoin. Indeed we are already making a living out of it but there's no need to rush. We may take it one step at a time. Thank you for reading! STEEM ON!
ABOUT THE AUTHOR
is a steemit enthusiast who is a graduate of Management in Accounting. A BPO specialist and a teacher. A crypto enthusiast and a frugal traveler. One of the STEEMPH.CORE CORE LEADERS and CEBU STEEMIT BLOGGERS coordinator. Who is actively promoting the platform in his community.
