Cryptocurrency words you should know – Abbreviations
Here in this post we are about to write down some of the famous abbreviations used in crypto currencies and trading.
Terms to be used in Crypto trading
NFT : ” Non-fungible token ” – This can be anything like Digital Art , photograph etc. Majority of NFT are using Ethereum blockchain. But Tron / Neo / Binance Smart Chain etc are also offering to get NFT on their blockchain too.
FUD : “Fear, Uncertainty, and Doubt” – That means a news which related to coin which left investors to make fear and they dumped their parts.
FOMO : ” Fear of Missing Out ” – That means someone who is looking for profit but got non informed with a trade which other’s already started making profit.
REKT : This indicates a market is severely damaged and dropped. Or if it goes for coin then that means coin is badly dumped and no chance for upcoming in coming days.
Whale : ” Whale means something big ” – Whale in crypto currency trading means someone holding a lot of coins. Whale dump means someone who dumped his big number of coins in market.
CT : ” Crypto Tweet ” – Tweets related to crypto currencies.
Wall : In trade wall means a buy or sell stock which is standing on a certain value. Enough big to to not let price goes beyong that unless all the stock got purchased or sold.
HODL : ” Hold on for Dear Life ” – HODL in simple meaning holding cryptos.
Bitcoin Maximalist : Someone who is only dedicate himself for bitcoin and not interested in any other crypto currencies.
DYOR : ” Do you own research ” – This is term to be used between discussion if someone really made a research on trading or coin to give suggestions.
Forking : ” Need of change in on going project ” – Forking further divides into two part. Soft Fork and Hard Fork. Soft fork means changes in current project like in Bitcoin introduction of Segwitt address. On other hand Hard fork means a separate project on the basis on mother project. For example : Bitcoin cash which is hard fork of Bitcoin.
IDO : ” Initial Dex Offering ” That means fundraising method in which project is issued via a platform to get fund in exchange for the token. These all based on project speculation.
Defi : ” Decentralized finance” – This is a integration of finance with crypto currencies. With the boom in DEFI it is not easy for crypto lovers to enjoy all the benefits which fiat are providing for example: Interest on cryptos, Loan , Insurance etc
Dapp : ” Decentralized applications ” – This is an application which provides decentralized currencies to work on.
Dex : ” Decentralize exchange ” – These are exchanges which are designed on bases of P2P ( peer to peer ) which need no registration. They are connecting with your decentralized wallets like Metamask , Walletconnect , Torus etc. These kind of decentralized exchanges came when ICO business boom in crypto currencies. They don’t want your KYC ( Know your client ).
KYC : ” Know your client ” – This is required in many trading sites to identify you , it enables many extra features like withdrawal limits etc.
P2P : ” peer to peer ” – Incoming and outgoing without asking for your identity. This term was very much famous in file sharing in old age. After crypto world started they use this same feature P2P in their coin structure.
WMA : ” Weekly Moving Average ” – in trading chart point at which bitcoin or any coin closes at the time of weekend will be known as Weekly Moving Average.
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