Most of us here started as a noob. A person who has no knowledge when it comes to crypto currency. I am a noob , I am having a hard time understanding crypto articles here way back because the terms and phrases were not familiar to me. I don't want to pressure myself that time and I said to myself that in a right time I will learn crypto little by little. As the time passed by , I didn't noticed that I encountered different crypto terms and used it on my own post or articles and I started to understand them but as I mentioned I am still noob but I am happy that I learned few and need to learn more.
Now I found myself hooked on reading crypto articles and post on crypto group telling about thier experience and lesson on making wrong decisions.
I know some of you might say , this article did by many user here way back. I know it 🙂 I read them in the pass but like what I said I am having a hard time reading it and didn't understand it well. Honestly I learned this crypto terms because of lurking around and reading some comments and post. Sometimes I am shy to asked what's the meaning of that particular phrase or terms that why I go to Google or sometimes I continue to read and soon I will get the answer.
The first term that I learned is HODL. I read it on one of the articles of Rowanskie and thinking the he has a typo error that time. I didn't told him that because he mentioned that word for a couple of times in his article and to make it clear to me I used Google and find out that that's he was right. HODL is Hold on for dear life. It means that you will going to hold your coins no matter what happens.
FOMO - Fear of missing out. I learned this on one of group chat in telegram. I always saw this terms but I didn't mind to know the meaning until one day I asked one of the members what does it mean. He said FOMO is when you buy crypto on high prices. I didn't understand it fully until I experience it. I bought BCH in a high price and sell it on lower prices 😂
MOONING. I heard this term last November when the BCH reached 371 USD. It is trending in read.cash that time. BCH to the moon or BCH is mooning. I also asked it to one of the users here and she said it is term when the coin is pumping very well. The coins is going to the moon.
Pump/Dump. When the coin is going up and going down. Back then I never used this term because I don't have a hodl but when I already have I am also the one who posted about pumping and dumping. Like now BCH is pumping.
DYOR(Do your own research). The meaning of this term is in the world itself. Some people buying crypto because it's hype or trending , they are just following the trend and not doing their own research. So if you are planning to do some action better to DYOR before doing it.
ATH (All time high). I saw this term on Jane's article but again I am shy to asked what the meaning of this. Gladly I saw another post with that ATH with a meaning and I said to myself. Now I know 😂 So ATH is the highest prices of coins has ever reached. I don't know if it's monthly or yearly but before BCH ATH is 630+ USD.
TAYOR(Trade at your own risk). This term is used on trading specially on noob or beginners who wants to try trading especially future trading. Trade at your own risk and trade what you can afford to lose because future trading is hurtful when you have low pain tolerance. That's why I didn't try to trade in future. Only in spot trading.
Bullish. This term used when the coins has a potential increased of price.
Bearish. It is the reciprocal of bullish. This term used when the coin has a potential to dump.
Bull trap. I saw it a day ago on Binance Filipino group regarding the XRP. They said it's a bull trap because the news said the XRP will go to the moon but it dumps so a lot of XRP holders received liquidation letter from Binance and others became FOMO.
AltCoin. I always saw this term but didn't know about the meaning until I asked it because I saw a post saying Alt Season is coming. So for my own understanding, Alt Coin is the coin that is not a Bitcoin. Correct me if I am wrong hehe.
Fiat. This is the currency issued by the government. Example our Fiat here in the Philippines is Peso and the Fiat in Saudi Arabia is Riyadh.
Shitcoin. I remember when a user here said " she thought the BCH is a shitcoin but she's wrong and she started holding it now. Shitcoin is a coin with no potential value increased.
Whales. They are the one who holds a huge amount of crypto. They are the one who can manipulate the price. Example is Elon Musk , he is the reason why the Dogecoin went to the moon a couple of days ago.
ELI5 (Explain like I'm 5 years old). For a beginner or noob who wants to learn more about crypto, you need to teach it in a simple way to make them understand. It like explaining to a 5 year old kid. Eybyoung has a article about it.
Buy the dip. Dip means the coins is dump or bearish and it's the right time to buy.
Stablecoin. These coins is a type of coins that has a low volatility. Example of this is Tether. You will encounter it on Bitcoin.com wallet when you used the swapping features.
Rekt( wrecked). This is a term used on a trader who lost a big amount of money.
For now , this is all I have learned and I know I have more terms and phrases that need to know. Honestly I read some of them but still having a hard time understanding them. Maybe in the future, when I have more time to watch and read articles I will understand them one by one.
Please correct me if I write something wrong because I wrote it based on my own understanding 🙂
Learning is a continuous process. You can't learn with just a blink of an eye. It's okay to learn little now as long as you want to learn more 💚
😊