With Bitcoin surpassing it's ATH, might it be that the long awaited pre-bull run is here?
To mark this new achievement , here are some popular CRYPTO SLANGS that would be helpful to people who are new to Crypto:
-Buy the dip (BTD) Buying the dip or BTD means purchasing an asset after its price has dropped. Buying the dip represents buying Bitcoin or other cryptocurrency at lower prices, hoping that it will rise again in the future.
-Diamond hands/paper hands Diamond hands refer to holding Bitcoin even when there’s a ton of pressure to sell. Paper hands refer to investors that sell off their investments too early—mostly because they’re afraid of the risk and are susceptible to panic.
For e.g a lot of people with paper hands sold of their $PEPE during it's bearish stage and and now those with diamond hands who didn't sell are gaining from the just very recent pump.
-WAGMI/NGMI WAGMI is short for we’re all gonna make it. It is often used in the crypto community to build confidence and encourage everyone not to lose hope. NGMI on the other hand is the opposite of WAGMI meaning Not gonna make it.
-KYC Short for know your customer/client and it refers to the verification of a user’s identity. Most cryptocurrency exchanges will implement this sort of rule to verify a trader’s identity and to comply with regulations and keep their marketplaces safe.
-Bullish/bearish Bullish represent a pattern in the market in which there's an upward trends in price while a bearish market will present downward trends.
-Cryptosis: refers to that never-ending thirst for cryptocurrency knowledge. It involves scouring forums and forcing cryptocurrency discussions among your friends.
-No-coiner: refers someone who believes $BTC is either doomed to fail or will have minimal value in the future and because of this belief, they don’t hold any coins themselves.
-FOMO Short for 'fear of missing out', in crypto, FOMO refers to a trader's fear that they may be missing out on a potentially lucrative project .
For those who are new to the Crypto world, here are some of the things you should bear in mind. Please note that I'm sharing this from personal experience and you should always do your own research (Dyor)
First of all, filter what you consume online. When I started trading , I would come online to see a lot of post regarding which coin to buy and what projects to venture into. As a newbie, I didn't even investigate. I was just buying a lot of them without doing any proper research and in doing so l, I made a lot of bad decisions that I could have easily avoided.
Another very important advice is to always invest what you can afford to lose. it's very easy to get carried away by other people's success story and this may spur you to invest an amount you can't afford to lose. This happens more than 50% of the time. Remember crypto has very high volatility and there's always a 50/50 chance of you either gaining or losing from it.
Next, Always do your own research! I cannot emphasize this enough. Don't just take a leap of faith and invest in a crypto project without doing your due diligence. it might cost you. There are a lot of tools at your disposal, use them and make researches before diving into that project or investment.
The last but not the least important, always be cautious. Don't throw caution to the wind when venturing into the crypto world. Always remember not to be greedy.
This is my own little way of helping and I hope you found this little piece to be helpful.