New to Crypto?
Here are some popular slangs used by Crypto enthusiasts around the world that you may need to know about.
1. FOMO (Fear of Missing Out):
FOMO refers to the anxiety that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on social media. In crypto, it describes the fear of missing out on the potential profits from a rising cryptocurrency.
2. FUD (Fear, Uncertainty, and Doubt):
FUD is a strategy to influence perception by spreading negative, misleading, or false information, leading to fear, uncertainty, and doubt. In the crypto world, it often refers to spreading of unfounded negative information to decrease the value of a cryptocurrency.
3. To the Moon:
When a cryptocurrency is rapidly increasing in value, people might say it's going "to the moon." This phrase signifies the belief that the price will reach extremely high levels.
4. HODL:
Originally a typo for "hold," HODL means retaining your cryptocurrency investments despite market fluctuations. It's become an acronym for "Hold On for Dear Life."
5. Whale:
In crypto, a "whale" is someone who owns a large number of coins, enough to have the power to influence the market prices significantly.
6. Shilling:
It occurs when someone promotes a cryptocurrency for their own benefit, without disclosing their interest in it. It's often seen as a deceptive practice.
7. Bagholder:
A bagholder is someone who continues to hold a large amount of a particular cryptocurrency, despite its decreasing value, hoping it will bounce back.
8. Pump and Dump:
This is a scheme where the price of a cryptocurrency is artificially inflated ('pumped up') by holders, only to sell off their holdings when the price is high ('dump'), leading to a price crash.
