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25 CRYPTOCURRENCY TERMS YOU NEED TO KNOW (Part 2)
Fundamental Analysis, Fomo, Rugpull, let’s give a brief definition of some Crypto terminologies you’d see regularly.
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Fundamental Analysis, Fomo, Rugpull, let’s give a brief definition of some Crypto terminologies you’d see regularly.
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1. FOMO: (Fear Of Missing Out) A situation where you hurriedly buy a coin when the price is moving so as not to miss out if it should go higher).
2. FUD: (Fear, Uncertainty, Doubt) It is a negative perception of certain cryptocurrencies.
2. FUD: (Fear, Uncertainty, Doubt) It is a negative perception of certain cryptocurrencies.
... a situation where you hurriedly withdraw from a coin due to a feeling that the coin could lose value.
3. Airdrop: A campaign strategy where a new coin distributes a certain number of coins/tokens in order to gain popularity and create a community.
3. Airdrop: A campaign strategy where a new coin distributes a certain number of coins/tokens in order to gain popularity and create a community.
4. ATH: (All Time High) The highest amount a coin has attained
5. Pumping - An extraordinary huge increase in a price of a cryptocurrency.
6. Private Key (Seed) - A sort of password or phrases used for protecting and accessing funds in a crypto wallet.
Should be kept safe.
5. Pumping - An extraordinary huge increase in a price of a cryptocurrency.
6. Private Key (Seed) - A sort of password or phrases used for protecting and accessing funds in a crypto wallet.
Should be kept safe.
7. NGMI- (Not Gonna make it) a slang used by crypto enthusiasts to emphasize that users could miss out on huge profits on a certain cryptocurrency.
8. Bullish - belief that a Cryptocurrency will move up in value
9. Bearish - belief that a cryptocurrency will move down in value
8. Bullish - belief that a Cryptocurrency will move up in value
9. Bearish - belief that a cryptocurrency will move down in value
10. Erc-20 – any coin built on ethereum is an erc-20 token
11. Bep-20 - any Coin built on Binance Smart Chain is a Bep20 (BSC) token
12. Trc-20 - any coin built on Tron network is Trc20
13. Ape in – to invest in a coin without doing your own research
11. Bep-20 - any Coin built on Binance Smart Chain is a Bep20 (BSC) token
12. Trc-20 - any coin built on Tron network is Trc20
13. Ape in – to invest in a coin without doing your own research
14. Rug pull - A type of attack unique to DEFI where a vulnerability to the smart contract is abused and the token value drops to $0
15. Digital Wallet - A wallet that is used for storage of digital currencies, usually installed on a PC or mobile App.
15. Digital Wallet - A wallet that is used for storage of digital currencies, usually installed on a PC or mobile App.
16. Shitcoin - An altcoin that may lose it’s value because the altcoin itself was not created in good faith, or because
the price of the coin was based purely on speculation.
17. ESCROW - a middleman in a transaction.
18. DIP - A decline in Value of a cryptocurrency
the price of the coin was based purely on speculation.
17. ESCROW - a middleman in a transaction.
18. DIP - A decline in Value of a cryptocurrency
19. Impermanent loss - This is when a liquidity provider has a temporary loss of funds because of volatility in a trading pair.
20. Farming - staking your coins for a particular period of time while you receive rewards for doing so, usually on DEFI.
20. Farming - staking your coins for a particular period of time while you receive rewards for doing so, usually on DEFI.
21. Fundamental Analysis- This basically what you should do when asked to DYOR.
For example, you might look at its use cases, the amount of people using it, or the team behind the project. Your goal is to reach a conclusion on whether the asset is overvalued or undervalued.
For example, you might look at its use cases, the amount of people using it, or the team behind the project. Your goal is to reach a conclusion on whether the asset is overvalued or undervalued.
22. Paper hands - someone who sells easily usually after a slight dip
23. Diamond hands - A patient hodler of a coin
24. Shill - to peddle and try to sell a coin with subtle persuasion
25. Degen/Degen Trader - Someone who gambles and scraps through projects for quick profits.
23. Diamond hands - A patient hodler of a coin
24. Shill - to peddle and try to sell a coin with subtle persuasion
25. Degen/Degen Trader - Someone who gambles and scraps through projects for quick profits.
