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Remembering my first few months in the crypto sphere, i came across some words that were used by crypto traders on Twitter, Reddit, Discord and most especially on Telegram that i don't know their meaning. This made me began to ask random questions, trying to find out the meaning to those words and thus, everyone knew from that instant that i was a newbie. But as time goes on, i began to know their meanings and when to make use of them. So in this post, i am listing a few of them with examples on when they were used.
Noob
" He is a noob "
The word noob simply means an amateur trader who is new to the crypto sphere and finds it hard to get things done. The noobs tends to ask a lot of questions ranging from where to trade, how to store their coins etc.
Moon | mooning | mooned
" Steem is mooning "
This refers to a jump in price of a coin or when the price of a coin is experiencing a significant increase in price.
Hodl | hodling
" I am hodling till we moon "
This word was formed from a typo made by someone in bitcoin forum in the earlier days. Hodl is an acronym for "Hold on for dear life", meaning not letting go of a coin no matter the fluctuations in price.
Shill | Shilling
" Stop shilling other coin in here "
Shilling of a coin is the act of hyping or advertising so as to convince people into buying it.
Bag Holder
" The last dump made many traders bag holders "
These are traders whom bought at the peak of a coin when it was mooning before a drop in price. They can't sell at loss so they tend to hodl hoping for an increase in price.
Rekt
" They got rekt "
This are traders that suffer a great loss after buying into a coin, they either sell at loss and move on or become a bag holder.
FOMO
" Don't fomo into a coin "
Is an acronym for "Fear of missing out". This is a feeling that most traders experience when they see the price of a coin increasing, they buy into it so as not to miss out in the price increment not knowing whether they are buying at the peak. Most traders get rekt because of this feeling.
FUD
" Don't spread fud "
Acronym for "Fear, uncertainty and doubt". This is the act of talking bad or spreading fake news about a coin that will cause panic and make investors sell off.
Pump and dump
This are mostly done by pump and dump groups on telegram, where many traders in a group pump the price of a particular coin within 5 minutes and then dump it back to it initial price. This act makes many traders who bought at the peak bag holders of that coin.
Whales
" Whales are manipulating the price "
Whales are the big boys, they are investors in possession of more than 5% of a particular coin. Most of these whales are early miners or investors who bought and held for a very long time.
Bull | Bullish
Bulls are buyers while Bullish simply means buyers are buying into a coin therefore increasing the price of that coin.
Bear | Bearish
Bears are sellers while Bearish simply means investors are selling off therefore bringing down the price.
Shit Coin
Shit coins are alternate coins, coins that are presume to have no working product and are just based on hype and shills.
Sat
" I bought at 0.0023462 sat "
Sat is the short form of satoshi, which was coined from bitcoin inventor Satoshi Nakamoto. This refers to fractions of bitcoin.
Dip
" Buy the dips"
The dip refers to decline in price. So when asked to buy the dip simply means you should buy when the price are down before it goes back up.
To put an end to this list, i hope i have been able to boost your confidence level by not asking random questions like i did when next you come across these words. In the comments, you can list or ask me the meaning to slangs that i didn't mention above. Don't forget to leave a comment, thanks.
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