The world of cryptocurrencies is full of jargon and terms that can be confusing for newcomers. Here’s a simple guide to understanding some of the common phrases you might encounter:
1. DYOR – “Do Your Own Research”: This term is used to remind people that they should thoroughly research any investment before making a decision, as the responsibility for any losses lies with the investor.
2. NFA – “Not Financial Advice”: This is often used by people giving advice on investments, to distance themselves from any liability if the advice results in losses. 3. HODL – A misspelling of the word “hold”, it has become a meme in the crypto community, encouraging people to hold on to their investments through market fluctuations.
4. Find a safe entry – This refers to buying a token at a time when the exchange rate seems stable and favorable, with the hope that the investment will be safe from sudden falls. 5. Up Only – This term implies that the price of the token will only go up, regardless of when you enter the market. However, this is not always the case and prices can fluctuate.
6. To the Moon – A common hype slogan that promises a token’s price will skyrocket, bringing multiple returns to investors. While it is often used in a positive context, it doesn’t guarantee success. 7. Buy the dip – This encourages people to buy when the rate is low, with the expectation that the token will make a profit later.
However, it can be challenging to determine the exact lowest point in a price drop. Understanding these terms and phrases can help you navigate the world of cryptocurrencies and make more informed investment decisions.
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<p>The post Cryptocurrency Lingo: Decoding the Secret Language of the Crypto World first appeared on CoinBuzzFeed.</p>