40 Common Words Used in Crypto Market by Cryptocurrency Investors
1. WALLET - This is an online wallet(you can call it purse) where you store your coins. Example is Trust Wallet, Bread Wallet, etc.
2. EXCHANGE - This is an online platform where you can buy, trade and sell coins. Example is Binance, Remitano, etc.
3. ADDRESS - are numbers and alphabet which you can use to receive or send digital coins 🪙🪙🪙 or tokens.
4. ALTCOIN - This is any coin that is not Bitcoin. It's also called alternative currency 💵💵💵. Example is Etherum, XRP, AGX, etc.
5. TOKEN - Simply means coin
6. STABLE COIN - A coin that is tied to the value of something like the dollar which price cannot fluctuate. E.g. USDT, eNaira, etc.
7. GAS - A fee you pay for transaction, commonly used in Etherum because of it's high gas fee.
8. REKT - Simply means wrecked. When you lose all your money or most of your money while trading.
9. MOON - When the price of a coin has a positive movement. Continuous upward movement of coin price
10. HODL - drunken spelling of HOLD meaning to buy a coin and hold it to make profit.
11. P2P - Peer to Peer enables transaction between two entities without a middleman.
12. FOMO - Fear Of Missing Out is when you are worried if you don't buy a coin when others are, you may regret later.
13. BULLISH - When a coin is moving in a positive direction. Just like moon.
14. BEARISH - Movement in a negative (Downward) direction.
15. TAKE PROFIT - Selling or swapping or converting or withdrawing part of or all of your money on a particular coin after making profit.
16. STOP LOSS - Applying a point where you want to take out your money to a stable coin after losing part of money.
17. TARGET - Deciding how much profit you want to make on a particular trade.
18. FARMING - Staking your coins for a particular period of time while you receive rewards for doing so.
19. AIRDROP - A campaign strategy on a new coin to gain popularity.
20. ALL TIME HIGH - When a coin gets to a new price for the first time.
21. ALL TIME LOW - New low price of a coin for the first time.
22. BAG - If you hold a huge amount or numbers of a coin, you have a bag of it.
23. DIP - When a coin price is moving downward. This is good time to buy.
24. DApp - A computer program that utilizes a blockchain for data storage, runs autonomously, is not controlled or operated from a single entity, is open source and has its use incentivized by the reward of fees or tokens.
25. DUMP - Selling all you have of a particular coin.
26. ESCROW - A middleman🧑🦼🧑🦼🧑🦼 in a coin 🪙🪙🪙 transaction.
27. FIAT - Government owned currencies that are in cryptocurrency. Example USD, EURO, NGN.
28. FUNDAMENTAL ANALYSIS - This simply means to do a research on a coin.
29. LIQUIDITY - The liquidity of a cryptocurrency is defined by how easily it can be bought and sold without impacting the overall market price.
30. WHALE - A term used to describe extremely wealthy investors or traders who have enough funds to manipulate the market.
31. SHITCOIN - A coin with no potential value or use.
32. SHILL - This is the holder/owner of altcoins who just wants to promote his digital currency for his own benefit.
33. FUD - Fear of Uncertainty & Doubt of rise or low in price of coin.
34. BTFD - Buy The Fucking Dip coin 🪙🪙🪙 at any point in time.
35. WEAK HAND - A coin holder prone to selling at the first sign of a deep in price.
36. JOMO - Joy Of Missing Out of buying a particular coin. This is the opposite of FOMO.
37. NOCOINER - A Nocoiner can be any person who doesn’t own Bitcoins at a particular time.
38. C2C - This is swapping or buying a Crypto with another Crypto.
39. SHORT - This is margin bear position while LONG - Is margin bull position
40. LAMBO - This is the status symbol that becomes an elusive goal for most investors. It’s a car industry reference that makes people believe everyone who has entered the cryptocurrency business will buy a Lamborghini very soon.
NB: I tried to explain them in plain English for easy understanding. Notwithstanding, if you still have any questions try to DM me.
Please try to leave a comment for us to know what next or what you don't understand about it. Thanks.
