Crypto Keywords – Term Overview

Hi there, and welcome to the first installment of Crypto Beginner Guides!

Here are some commonly-used phrases and their meanings that you will come across while reading about crypto discussions and news. It is important to become familiar and literate in these phrases so you don’t misunderstand what people are saying!

FOMO – Fear Of Missing Out. You know when a coin starts rising rapidly, and you haven’t bought enough and have an urge to rush in and buy more? That’s FOMO. You should usually avoid rushing in and buying after you see a coin rapidly rise up, as rises are usually followed by a correction period where it will dip down, giving you a better entry point.

FUD – Fear, Uncertainty and Doubt. Usually occurs over social media, where people spread negativity and bad news about a coin, causing people to sell out which in turn drives the price down. Usually, the FUD is caused by false realities and negative opinions.

HODL – Hold On for Dear Life. Describes not selling your coins, but holding them in the belief that they become profitable in the future. The phrase originated from a post in an early Bitcoin forum (bitcointalk.org), where a user misspelled “hold” for “HODL”!

DYOR – Do Your Own Research. Don’t directly invest based on their opinions without doing the research yourself and being confident in those actions.

Pump and Dump – “Pump” means a coin’s price and value is increasing, while “Dump” means it is decreasing. It also refers to many “pump and dump” groups who coordinate together to buy coins, increasing their price to attract more people to buy them, then flipping (or selling) them to make a quick profit.

To The Moon – a common phrase used when a coin is rising up.

Whale – someone who owns a large amount of a particular coin.

Bullish – describes an upwards trend of a coin. Bulls thrust their horns upwards to attack.

Bearish – describes a downwards trend of a coin. Bears swipe their claws downwards to attack.

Feel free to drop a comment about what coin or content you’d like to see a discussion on next!