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Unique Terms In The Crypto World

Did you know that trading is an activity that is currently being discussed whereas a newcomer may not know the terms that are often thrown around in the forum.

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Knowledge of terms in crypto assets will of course make it easier for you in the learning process. Well, to understand the various unique terms in the world of crypto assets.

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1. FOMO

FOMO or Fear Of Missing Out is a term from the crypto world that is closely related to everyday life. The term FOMO is usually intended for beginners who are getting into the world of crypto asset trading because of the hype. 

People who experience FOMO will usually have the feeling to follow what others are doing. Fear of being left behind. Especially when it feels that one of the coins whose price will go up. 

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This phenomenon is the fear of missing out on interesting things or profitable opportunities. 

FOMO first appeared on social media and as its use has grown exponentially, the term has now been added to the Oxford English Dictionary.

2. Whale

Maybe you often hear this unique term in the trading world. A whale is a term for large traders who hold large amounts of coins, at least 5 percent of the total digital assets held. The term whale first came from the casino world, referring to casino players who had deep pockets. 

These big players have big capital and can be market movers. Every decision they make in buying and selling coins can affect the volatility of the value of crypto assets, especially small coins. 

3. HODL

hold as part of a unique term in trading

HODL is an anagram of “HOLD”. Usually written in capital letters. 

This term first appeared in December 2013. At that time a user named the GameKyuubi account made a comment when he was drunk on a Bitcoin forum. At that time, the value of Bitcoin was falling 39 percent from 716 US dollars to 438 US dollars. 

The fall in value made him panic. In the middle of a heavy head, he wrote a typo-laden comment. One of them is “I AM HOLDING”. The typo turned out to be a popular joke and ended up becoming an important term in the crypto world. 

Just like HOLD, HODL in the strategy of buying and selling crypto assets has the meaning of holding or holding on. The person who performs the HODL is referred to as a HODLER. 

In this condition, you will hold the crypto asset you own no matter how fast or low the price falls. Interestingly, currently, forum members are even making an extension of the typo, namely “Hold On for Dear Life.” 

4. Rekt

This term is a misspelled form of wrecked. Rekt is a term usually used by gamers to describe players who lose and are completely crushed.

In the crypto world, traders use this term for investors who make bad decisions. 

For example, such as selling coins too quickly before the price rises, or buying too slowly until the price becomes expensive. The term rekt is also often used for investors who have lost due to wrong decisions or have lost due to running out of capital due to a scam.

5. FUD

FUD is an acronym for Fear, Uncertainty, and Doubt, or what is often used as a pun as Facts U Dislike. 

The term FUD is intended for a psychological tactic that plays with the negative emotions of humans, especially players in the crypto world to influence the market. Usually, FUD is used by investors who want to lower the price of a coin just so they can buy it cheaply. 

They will spread fear and doubt in the existing crypto community. Usually experienced traders will ignore this tactic and HODL their assets until prices stabilize again.

6. Pump and Dump

A unique term in the trading world that is often mentioned in forums is pump and dump. Pump and dump is another tactic used by a group of people to manipulate sentiment in the crypto asset market.

 Usually, interested people will lead the opinions of investors and traders on a coin. As the attention of the people and the community on the coin increases, the price will increase (pump). 

Then the interested people will be busy selling their coins or tokens. The amount of supply in the market will certainly make the price fall (dump). Dumps can also occur when a negative issue arises and enters the market giving rise to FUD. 

For those of you who are still beginners, it is advisable to be aware of the pump-and-dump tactics if you don’t want to lose money. Especially if the culprit is a whale. You may see a big ‘wave’ in the value of crypto assets. 

7. Ambush

The term bagholder comes from Wall Street. Bagholder is defined as an investor who loses because he holds stock with poor performance for a long time while hoping the price will increase. Bagholders will usually continue to maintain their investment even though its value continues to decline until it becomes worthless. 

In the crypto world, the term bagholder can be applied to traders who fail in pump-and-dump conditions. Despite the free fall in asset prices, some investors still cling to their altcoins even though their value is no longer there, and maybe close to zero. 

8. Bearish and Bullish

You certainly often hear this unique term when the crypto asset trading community is discussing price changes. In the crypto world, bearish and bullish are used as markers of market movement. 

The term bearish is usually used when there is a price decline. On the other hand, if there is a belief that the price has an increasing trend and has even started to rise, this condition is considered a bullish situation.

9. Hard Fork

A hard fork is a fork that occurs in the blockchain of a crypto asset and forms a new crypto asset. This condition occurs when you make a copy of the blockchain coding, and update the crypto asset network by modifying it. 

10. No Coiner

The term no coiner itself has many meanings. Some think that no coiner is a term for people who do not own crypto assets. But some interpret a no coiner as parties outside the crypto asset community or someone who has never heard of cryptocurrency. 

No coiner is the term most commonly used as a mockery for traders who have sold all their coins for not believing in Bitcoin. The term no coiner is also used for people who have lost the opportunity to profit because they feel that Bitcoin is just a scam. 

They usually miss buying opportunities when Bitcoin is still cheap. Not infrequently, no coiner with his cynicism became one of the perpetrators of FUD. 

11. To the Moon

Moon or to the moon is a term that describes crypto assets that are rapidly rising and reaching peak values, both in terms of price and sales volume. The term was originally used on forums and Reddit until it became popular. 

12. Cryptosis

The term cryptosis or also often referred to as OCD (Obsessive Crypto Disorder) is the desire to absorb every information about crypto assets. 

Usually, cryptosis is caused by a very high enthusiasm for crypto assets. The term usually refers to people who are constantly talking, reading, and listening to info about crypto assets while buying bitcoins or altcoins.

13. Hashrate

The meaning of hash rate is the level of network speed or computing power required to mine Bitcoin and confirm transactions in the Proof-of-Work blockchain. 

Hashrate is measured in hashes per second (H/s). Hashrate is also commonly written in various other units such as kilo hash per second (kH/s), milionhash per second (MH/s), and many more.

14. Cloud Mining

Cloud mining is a mining process by using the power of cloud computing to mine crypto assets. In this case, you pay a third party to do all the mining specifically for you.

15. Decentralized Finance (De-Fi)

Decentralized Finance (De-Fi) is a system that offers an alternative to the conventional financial system, which does not require a third party. 

De-Fi helps users to manage their funds independently as they hold their private keys and also confirm their transactions on blockchain technology.

Well, that’s the term that is in crypto assets, hopefully, it will be useful.

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Welcome, fellow dreamers, adventurers, and seekers of knowledge! I'm glad you're here. My name is Precious, and I'm on a mission to help you discover the world, find exciting job opportunities, learn about visa complexities, travel to amazing places, and uncover the secrets of obtaining scholarships overseas.

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