Deciphering Most Commonly Used Crypto Terms
SHARE ON SOCIAL MEDIA
HODL, BUIDL, Rug-N-Pull…
No, these are not words from an unknown alien tongue. They are among the numerous new and important terms used in Cryptocurrency terminology.
Cryptocurrency is more than simply a new investing choice; it symbolises an entirely different world when compared to traditional stocks and bonds. Even for seasoned traditional investors, mastering the basics takes time due to unfamiliar terminologies, evolving technologies, and keeping up with memes and tweets.
Before you begin investing in anything, it’s critical to understand exactly what you’re getting into such as how crypto differs from conventional investment techniques and the various factors that can affect a cryptocurrency’s market value. This is especially true for a speculative — and still evolving — asset like cryptocurrency.
Here are some crypto slang 2022 terms and phrases to assist newcomers to Grasp the world of cryptocurrency investing.
9 Widely Used Cryptocurrency Terms To Know
Though the term started in 2013 as a user error on a Bitcoin forum, it now stands for “Hold On for Dear Life.” It refers to a passive investing technique in which investors buy and hold cryptocurrencies rather than trading them with the expectation that their value would rise.
The acronym “FUD” stands for Fear, Uncertainty, And Doubt. The premise is that market participants may circulate inaccurate information to cause the price of an asset to fall. A trader may want the price of an asset to decline so that they can successfully short it or buy it at a lower price and boost their chances of profit.
- Sats Or Satoshi Nakamoto
Satoshi Nakamoto is the alias for Bitcoin’s founder, and more than one person has claimed to be Nakamoto. The anonymous individual (or group) contributed to the development of the Bitcoin core protocol. A satoshi is the smallest fraction of a bitcoin, valued at 100 millionths of a bitcoin.
The phrase “Whale” refers to a trader who places large bets. This is an important word to understand because market participants with the ability to conduct very big transactions have the potential to manipulate the market—or “create waves in the ocean.”
- Pump And Dump
A “Pump And Dump” investment strategy is one in which a market participant (or several) works together to artificially increase the price of an asset to sell it when its value is artificially high. This activity may be especially prevalent when it comes to digital currencies, since traders may simply form groups on Telegram to influence specific cryptocurrencies to skyrocket in value.
This is not someone you want to be. It refers to someone who attempted to sell at a better price but the market moved too quickly, leaving them with a coin that is now worth substantially less than what they paid for it.
Mooning is used when a digital currency indicates its value skyrockets. A crypto trader, for example, could discuss how an altcoin is going “to the moon!”
In the cryptocurrency industry, a rug pull occurs when a development team abruptly abandons a project and sells or eliminates all of its liquidity. The name is derived from the expression “take the rug out from under (someone),” which means to abruptly withdraw support.
BUIDL is an abbreviation for “Build.” BUIDLing can simply involve using a cryptocurrency for its intended purpose, utilising smart contracts, beta testing products, writing articles, playing blockchain games, using cryptocurrency wallets, and anything else that could aid in the evolution and expansion of the blockchain and cryptocurrency fields.
Investors considering investing in cryptocurrencies should keep in mind crypto terminology and language. Would-be traders can improve their chances of attaining their investment goals by conducting essential research and learning.
Rainmaker– A crypto gaming application that tests your skills by trading in cryptocurrency contests. A platform designed for market enthusiasts who have a knack to learn these markets, can use their strategies and earn money by playing on this crypto fantasy gaming platform. Rainmaker provides young individual investors with an opportunity to participate in the cryptocurrency gaming market as a path to building wealth by learning how to handle risks, market volatility, ensure portfolio diversification, and financial concepts while a chance to win crypto prizes.
MAKE A TEAM