Heard of some common cryptocurrency terms and jargon like SAFU?
This guide will teach you the meaning of different cryptocurrency terms alongside all other blockchain glossary of terminologies and jargons.
At my earlier stage of getting involve with cryptocurrency, I joined different types of crypto investment chat-rooms on telegram, as well as on Reddit.
At that stage, I also discovered that most people use terms like, HODL (meaning to HOLD) is been used in those chat groups, but little did I know the meaning to these crypto terms as at that time!
These terms as at then, seemed so unusual to me, are totally different from normal English terms we all know.
This led me into trying to figure out what most of these crypto abbreviations mean in the real world of crypto passive income investment.
At first, it was just like plenty of misspellings and many other assumptions, but at a point, I came to realize that those terms actually, are only used by most crypto influencers.
Just like the term, ‘Safu’ which is used to denote ‘Safe’ in crypto-sphere.
The first time someone used the term (Safu) was by, Bizonnaci YouTube channel.
The Vlogger made a funny video with Binance CEO tweet in July 2018 saying ‘Funds are safe.’ This funny video he made, somehow, turned into a crypto meme and crypto slang.
However, I started digging through groups again, to learn those terms as to be conversant with these crypto enthusiasts.
Now that am on it, am going to list out the ones I managed to learn – even with their meaning respectively.
Now, Let’s get started already.
What is Blockchain term?
Blockchain terms (or terminologies) are those popularly used jargon among Bitcoin cryptocurrency investors to describe the situation of things, or actions and activities.
They’re blockchain words mostly used by crypto staunches you may have come across online. Below are the popularly used blockchain glossary of terms and definitions.
Disclaimer: These terms are mostly used for humour in those chats, and on no account should I be held responsible for the exact meaning, because we’re all still learning the same terms.
What does HODL mean?
It was assumed that he was drunk, while trying to convey the fact he’s still holding his bitcoin investment despite all time serious fall of the token that happened as at then.
Since that incident, what is the misspelled crypto slang, HODL (i.e. Hold On for Dear Life)?
It is a term that is popularly used to indicate when someone holds their token assets for future outcome.
Definition of cryptocurrency terms
ADDY: This simply refers to public address (or public key) of a DApp token.
Altcoin: Any cryptocurrency other than the established coins like; Bitcoin and Ethereum
AshDraked: It sounds like the famous U.S. musician Drake, right? LOL! It’s actually a term used to state a situation where you’ve lost all your money.
ATH: All Time High is used to indicate that a certain token has broken all of its past record, while trading at its highest price per asset. So whenever someone asks you what does ATH stand for – just let the person know ATH bitcoin simply mean ‘All Time High’.
Bagholder: A person who holds a particular crypto which decreases in value until it is worthless. This mostly happens when an exchange de-lists a cryptocurrency from its trading platform.
Bear/Bearish: Negative sentiment or downward price movement. This is normally used as ‘BEARISH’ to place the fact that a token is on its down-trend (rapid price fall).
Bear Trap: A literal trap where a general upward price trend reverses downwards momentarily and will continue its upwards motion
BTD: Buy The Dip. An indication to buy a coin when it has substantially decreased in price
BTFD: Buy The F**king Dip. It’s used as commanding voice somehow to tell investors to buy an asset, while projects are in dumps. This is to say BTFD – meaning is just a forceful advice to buy when the price of a cryptocurrency is at its low.
Bull/Bullish: Positive sentiment or upward price movement
Bull Trap: A literal trap where a general decreasing price movement reverses upwards momentarily and will continue its downwards motion
Choyna: This is used to refer to China as the country which is immensely influential in the cryptocurrency space with its large number of individual mining and trading activities.
Dead Cat Bounce: A temporary recovery in prices after a huge decrease
Dildo: Lol… funny, but it’s not what you’re thinking anyway. It means long green and red candles on the chart graphs.
Dump/Dumping: Selling away your coins/Downward price movements due to increase selling pressure by many
DYOR: Do your own research
ELI5: Explain to me Like I’m 5. An explanation (usually in Reddit) that is simplified that even a 5-year-old can understand
Faucet: Website that rewards you with small amounts of cryptos for the completion of a specific task
FA: Fundamental Analysis
FOMO: Fear Of Missing Out. This is a rookie mistake where a coin is skyrocketing and you get the feeling it’s gonna pump more, so you buy at the peak (i.e. Fear Of Missing Out (FOMO), is one of the crypto acronyms used when a person is having fear of missing out on the profit of an investment).
Fork: Splitting of the Blockchain due to competing philosophies or protocol upgrade.
FUD: Fear, Uncertainty & Doubt. Describes time of panic where negative sentiments are over-exaggerated. This is known as Fear Uncertainty and Doubts, which is usually heard from investors who are not sure of what will happen next in the price movement of a cryptocurrency.
HODL: Act of holding on to your coins even in dire market circumstances, resisting the urge to sell.
JOMO: Joy Of Missing Out. Opposite of FOMO. It is used when a trader is lucky and also happy to take profit right before a sudden change in price action – mostly happens in price downfall.
Long: A positive or favourable view on the coin or the market in general, usually with an underlying investment on the coin in mind.
MCAP: Market capitalization of the coin, which is an indicator of its market size. It’s derived from multiplying its market price to the total available supply of coins currently in the market.
Moon: Expected upward movement (burst) of price, towards the moon. It’s a term used to say that a crypto is experiencing an upward momentum as it keeps rising in price.
OTC: Over The Counter.
Portfolio: This is a term that represents the collection of all investments you own across all types of crypto assets.
Pump: Upward price movement.
Pump & Dump: Price manipulation by whales or collectives.
Safu: Simplest definition says that term means ‘safe’. When someone tells you ‘funds are safu’, it simply means your crypto investment fund is safe.
Shitcoin: A coin with no potential value or use. Also, includes useless currencies such as fiat money
Short: Short selling crypto-coins on margin (i.e. borrowing from an exchange to sell for profit), expecting the price to plunge.
Swing: Zig-Zag movement of price (i.e. Upwards and Downwards).
TA: Technical Analysis, or the analysis of prices based on historical price movements and fancy indicators
Rekt: A slang that refers to “wrecked”. This refers to the situation when a trader is totally ruined or destroyed from loses from current downfall of a token asset price.
Reverse Indicator: Someone who is always wrong predicting price movements
RSI: Relative Strength Index, a popular trading indicator used in technical analysis
Vapourware: A project that is never actually manufactured or implemented, synonymous with shit-coin
Whale: Someone who owns a huge number of coins that can influence prices of coins
Crypto term conclusion
Cryptocurrency terms are used to state the current situation of the entire market alongside the strategies that are involved in the cryptocurrency world.
If it will be costly for your current budget, you can try to at-least download any of the mobile software wallets that can store your crypto assets offline.
Though, there are other best cryptocurrency wallets to use aside buying hardware wallets, which might be a bit costly for beginner crypto investors.
In other words, what ever you do, just don’t leave your cryptocurrencies in an exchange for too long, because you can loose your investment instantly if there happens to be a hack on the platform.