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Like any new technology, bitcoin has spawned a slew of new terms and phrases, many of which have subtle or creative implications that the average person may be unaware of. Learning these sophisticated terms and acronyms can help a crypto novice purchase the dip and HODL through a wave of FUD.

Crypto Community most used SLANG language

Cryptocurrency is a fascinating new technology that has already had a significant impact on the financial sector in its brief existence. In 2009, the first cryptocurrency, Bitcoin, was released.

Like any new technology, Bitcoin has spawned a slew of new terms and phrases, many of which have subtle or creative implications that the average person may be unaware of. Learning these sophisticated terms and acronyms can help a crypto novice purchase the dip and HODL through a wave of FUD.

FOMO
"Fear of Missing Out," or FOMO, is an acronym meaning "fear of missing out." FOMO is a phenomenon that affects people from all walks of life. It's a common investor psychological state in which an investor feels a mixture of terror and envy for not being able to participate in a dramatic market move that others are profiting from.

When a sharp bullish breakout happens in cryptocurrency, nervous investors debate whether or not to purchase into an already high-priced market in the hopes of riding out the rest of the advance. FOMO may occur in any financial market, but it is more common in crypto markets, where the majority of participants are inexperienced retail investors attempting to negotiate extremely volatile price action while attempting to establish a well-balanced crypto portfolio.

FUD
"Fear, Uncertainty, and Doubt" is the acronym for "fear, uncertainty, and doubt." FUD, as it's known in crypto circles, is a psychological technique for instilling negative emotion about a certain asset in order to discourage further purchases or even to encourage selling or short-selling.
The goal is to depress the price of an asset so that the FUDer can either accumulate at a lower price or inflict financial anguish on others who may be holding the token for a competing crypto project.
Fear, uncertainty, and doubt can be transmitted in a variety of ways, including bad fundamentals, dubious project leadership, stagnant or bearish price movement, unclear roadmaps, a lack of acceptance, limited network usage, and the inability to transact in certain areas.

HODL
"Hold on for dear life" is what HODL stands for. HODL is a popular cryptocurrency meme that is a misspelling of the word "hold" (which some people mistook to mean "hold on for dear life").
During a period of market turmoil in late 2013, an agitated investor ranted on a Bitcoin forum about how investors are ill-suited to trade highs and lows and should instead simply buy and hold in their own crypto wallet.
Since then, HODL has grown in popularity, and it is frequently mentioned during price rises, with investors instructing other investors to HODL during periods of high price volatility.

REKT
Rekt, a deliberate misspelling of "wrecked," is a crypto slang term for an investor's portfolio or investment being easily vanquished. It's trending on social media as a way to warn about overleveraged holdings being liquidated, resulting in significant financial losses.

SHILL
Shilling is the act of promoting a service or investment, especially one of low quality, through propaganda or misleading or exaggerated narratives in exchange for a cash incentive.
Shills have a bad reputation and are commonly taking part in pump-and-dump tactics, but they can also take advantage of other situations. A cryptocurrency project developer may shill their project to help it get users and flourish, while a casual investor may shill a failing coin in their portfolio to sell it for a profit at a better price.

WHALE
A whale is a crypto entity that holds a large holding in a certain coin. A Bitcoin whale, for example, may be a corporation with 50,000 bitcoins that can affect markets with a single trade.

PUMP AND DUMP
The term "pump and dump" isn't just used in the bitcoin world; it's also used in the stock market. In regulated securities, it is called market manipulation and is banned. A pump-and-dump situation occurs when investors hype or inflate the price of an item, such as a cryptocurrency, before selling their holdings before the price collapses. They inflate it, then dump it before it plummets.

BAGHOLDER
You never want to be caught holding the bag, but in the crypto world, that's exactly what a "bagholder" is. A bagholder is someone who purchased into a position at a high price and then saw their holdings collapse in value.

When Lambo?
Lamborghinis — yes, the high-end sports cars — got associated with crypto culture at some point. The majority of this is due to the fact that those who make a lot of money from crypto were able to purchase them. As a result, the phrase "when Lambo?" has become associated with the success of a cryptocurrency. It effectively asks when the item in issue will appreciate to the point that its owner will be able to purchase a Lambo.

KYC
Since being implemented by regulatory authorities in 2017, KYC, or "know your customer," has become a kind of identification verification required by several crypto exchanges.
Broker-dealers (exchanges) must make a good-faith effort to gather personal information and create a record for each account with each individual customer, according to SEC Rule 17a-3(17). KYC assures that consumers are suitable for their trades or investments, that they are who they claim to be, and that their transaction histories are recorded for tax purposes. Because the two guidelines are so closely related, KYC-AML (Anti-Money Laundering) is frequently hyphenated.

Written By

Petrache Ionut

Jun 2, 2022