The crypto industry is very dynamic, and the community seems to always have engaging conversations on social media. However, it may be challenging to follow on the talks to some people as many of the terms may sound unfamiliar.
As part of the Bitfinex Trading 101 series, we’ve shortlisted some terms commonly used in the crypto space. We start with 10 of the most popular phrases and expand in the upcoming Bitfinex Trading 101 content series.
HODL is a popular slang within the crypto community for hold. The term refers to the act of holding cryptocurrency possessions rather than selling them when the price is dipping. HODL is also playfully interpreted as the acronym of Hold On for Dear Life. The person who holds is referred to as a holder.
FOMO is the abbreviation for Fear of Missing Out. It is defined as the anxious feeling of missing out on a positive or exciting experience. In crypto, it describes the fear of missing out on a potentially profitable opportunity, be it a trade or an investment. FOMO often causes people to do irrational actions, such as buying when an asset price is at the top or buying an asset blindly without prior research.
FUD stands for Fear, Uncertainty, and Doubt. It could be defined as the unfavourable market situation that emerges due to the spreading of dubious information. FUD can result in a price crash, among other things.
DYOR is the abbreviation of Do Your Own Research. It’s commonly used as a general reminder to always research and find further info before making any investment decisions.
Rekt comes from the word wrecked. By definition, rekt means to suffer massive losses due to a wrong trade or investment.
Whale(s) refers to a huge player(s) who owns an enormous amount of cryptos. Their crypto possession is so massive that they can affect the entire market single-handedly with their moves.
Shill(ing) is the act of heavily promoting a crypto token/project with the primary goal to drive the token’s price up. Shilling sometimes has a negative connotation, although not always.
ATH is the abbreviation for all-time high. It refers to the highest price a token has ever achieved.
ATL is the abbreviation for all-time low. It refers to the lowest price a token has ever gone.
We will cover more common phrases in the crypto space in the Bitfinex Trading 101 blog series, so make sure you sign up to Bitfinex Newsletter to make sure you won’t miss out.
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