Your easy crytocurrency definition guide!
So, you’ve decided to jump into the exciting world of cryptocurrency! Congratulations! As you explore this new community, you might find yourself stumbling across all sorts of phrases both familiar and strange. Some of these concepts are used outside of the cryptocurrency community, but many started as inside jokes and are unique.
Here’s a quick list of some of the more obscure terms you might find to get you started:
Generally, any coin that isn’t Bitcoin.
“All Time High” price for a cryptocurrency.
Refers to someone still holding a coin after a crash.
Fiat (as in Fiat currency)
Government-issued currency, such as the US dollar.
When a blockchain splits into two chains.
“Fear Of Missing Out” when not in a position to take advantage of a coin’s fast price movement.
“Fear, uncertainty, doubt” describes a negative emotion toward a cryptocurrency.
Someone that is spreading FUD.
A misspelling of the word “hold,” which went viral in the community after an apparently inebriated poster declared that they were “hodling” in the face of a price decrease.
“Initial Coin Offering,” a form of crowdfunding for a new project. Similar to an IPO.
A Lamborghini. The ultimate status symbol of a successful trader.
A description of when prices skyrocket.
Pump and Dump
A huge price increase followed by a crash.
Someone who’s positively advertising a particular cryptocurrency possibly to encourage a pump and dump.
A currency created by a particular project (usually based on Ethereum).
Cryptocurrency storage that can either be in the form of software or hardware.
Someone that owns a large amount of cryptocurrency.