A land filled with lots of opportunities and possibilities, where the bravest of hearts are humbled by the sudden downtrend of market prices, a land where the fearless are made to double-check every opportunity due to the fear of the unknown. I refer to it as a no man’s land because of its uncertainties which stairs every one dwelling on the land in the face. No matter what you may think you know and how well you can analyse a project, it is still not certain your analysis will yield you good returns.
I remember the first day I stepped into this land I came in just like a baby but with a difference. Nobody gave birth to me i.e. I had no mother or father to cater for me. I must confess that I lost my way several times while trying to gain my ground in this land. The best part of it was that I learnt from every mistake as we all know that experience is the best teacher. While I was sojourning in this land, I stumbled upon words and phrases I never knew existed.
I heard about DYOR, FOMO, HODL, WHALE, FUD, SATS, PUMP AND DUMP, BAGHOLDER, MOONING etc. this words existed in my dictionary but not in the context they were being used. I did all my best to get these words to sink deep down in my memory for easy access.
For a newbie, it will sound so funny and unusual when if you find yourself amid crypto enthusiast. At first, you will be completely lost but when you put your heart to it, you will get hold of it all. Now I will try to talk about some of these slogans and how it has affected me so far in my sojourn in the crypto world. Let me start with the first and funniest of them all;
· HODL
The first time I came in contact with this slang, I thought it was a mistake because I felt the person wanted to write HOLD instead of HODL. I corrected it and called the guys attention to it. The young man who was at that time ahead of me when it comes to crypto could not control his laughter. This made him laugh so hard and loud at me. I almost lost got angry but as a beginner, I summoned the courage to ask him why he was laughing at me. He looked at me and said “you are new to crypto, right” I replied yes and then he said, “the word is correct”. In my ignorance and knowledge of the English language, I argued a bit until he now pronounced it as HODL and not HOLD. That day was a day I will not forget in a hurry.
The second slang I learnt was;
· FUD
This one became my greatest tool in this journey because I learnt from my mistake. I remembered a certain time when I heard of a coin that had a good prospect I was still pondering whether to buy or not while the coin was still at 0.004, the next morning I woke up to see the coin at $3 and instantly I called my friend who told me about it and he said; “you were suffering from FUD”. I asked him what he meant by that statement and he said; “FUD simply means, fear, uncertainty and doubt”. I could not say a word because he made me understand that I lost my chance of making over $5000. Knowing the worth of $5000 in Nigerian currency, I lost fell sick throughout that week and since then till now, I go into any project once I can afford to bear any loss that may arise from it.
This last one was something I learnt on the spot because I asked for the meaning.
· DYOR
It is a statement every crypto enthusiast holds very close to their hearts. It simply means DO YOUR OWN RESEARCH. Whoy it is important to do your own research about a project in this crypto world is that you may rush into it because someone told you about it but if for any reason the project turns into a loss, you are the one and only person who will bear the loss. You cannot sue a crypto analyst to court for loss of investment because he will always tell you that his analysis is not investment advice rather you should do your own research (DYOR).
The first coin I bought as I learnt how to trade was ETHEREUM. Back then the gas fee was still low because it has still not increased in price. I must say that the future of ethereum is good but with the increase in gas fee which will always happen once it increases, I fear that many may leave the project or better still not go into any project that is on the ethereum blockchain. Imagine if ethereum should get to $10,000 the gas fee will be out of this world and this is the reason why BCH should be the next project you should go into if you are not yet in it. Have seen the gas fee of BCH?
Sometimes it makes me laugh when seeing how low it is. Don’t forget that in business, the sole target is to maximise profit and if for any reason you are dealing on ETH, you will end up losing part of your profit if not all to the gas fee. Just as we all know that BNB is now rearing its head because of its cheap gas fee. A lot of BSC based projects are going live on daily basis and you see them jumping above 200 per cent in just a week or even a day because of how cheap the gas fee is.
· PROJECTS YOU SHOULD LOOK INTO
My first ever project which I gladly want to tell you is BCH followed by BNB and any BSC based token. This is because these projects are yet to reach half of their peak and also all of them are very low when it comes to transaction fees. Don’t forget that your transactions are completed in record times.
NOTE: This is not a piece of investment advice please don’t forget to do your own research. SEE YOU AT THE TOP.
