Hello Crypto enthusiast! Congratulations, you are still early to the crypto party. Hop on the tide and embrace the new virtual currency. The world is going digital, so why not money?
Cryptocurrency is considered pretty dope and so are its flag bearers. These flag bearers have coined terms for the cryptocurrency community which is both peculiar and quirky. If you want to understand the crypto market better and be a better investor, start by learning these terms. Cryptocurrency investors have created a glossary of their own and here are my favorite 10 listed, just for you!
1 . Satoshik Nakamoto : Let’s start by the name who authored the white paper of bitcoin and implemented the first blockchain. Satoshik Nakamoto is the founder of bitcoin and his very existence is as interesting as cryptocurrency. Many have claimed themselves to be Satoshi Nakamoto. But the real Nakamoto has always played it low-key. He has an abbreviation too, or say a pet name. Sat.
2 . Alt Coin: Bitcoin is the first cryptocurrency and the main cryptocurrency traded in exchange for other coins. All coins other than bitcoin are called Alt Coins. You might have heard of the popular ones like Ethereum, Doge, Cardano, Solana, and many other. All these are clubbed under the name AltCoin.
3 . Shitcoin: Shitcoin is a pejorative term used to describe a coin that holds no good value. Such coins are generally created so that a group of investors can hype them and book short-term gains. Soon after they list gains, these coins nose dive or die down. Shit! Hence the name, Shitcoin.
4 . Bitcoin Pizza: All crypto maniacs do a peal of mocking laughter when they hear this term. In 2010, Laszlo Hanyeez purchased two pizzas for 10,000 BTC. Imagine the millions and fortunes he lost! This was the first-ever commercial transaction made using a bitcoin. To mark the mockery, crypto enthusiasts celebrate 22nd May 2010 as Bitcoin Pizza Day. Bitcoin Pizza! What a peculiar term!
5 . ATH/ATL: Dear crypto beginner, these are the two terms, that can have your heart racing!
ATH stands for All-time-high. It marks the peak or highest point in the price for any coin. You can even use it to indicate that your crypto portfolio is at ‘All-Time-High’.
The opposite of ATH, is, of course, ATL. Abbreviation for ‘All-time Low’.
Hope your cryptocurrency wallet sees most ATHs!
6 . Cold Storage: No no, it does not refer to a refrigerator or a cold storage warehouse. Cold storage is a wallet used to store cryptocurrency. Why is it called cold storage? Because it has no active connection to the internet. It requires 12 keywords to unlock the wallet. This makes storing cryptocurrency in cold storage extremely safe. Dear cryptocurrency beginner, keep the 12 keywords just to yourself or keep em cryptic.
7 . Ape: This word left me perplexed when I was a cryptocurrency beginner. Ape in cryptocurrency? When I heard the term aping, nothing other than ‘monkey business’ came to my mind initially.
I cringed when I discovered the true meaning of aping. Aping is slang used by crypto investors when they mean to say “What coin are you buying?”
Ape, I realized is a synonym for the action ‘buy’
8 . HODL: The most common term you can see on any Cryptocurrency discussion forums is, HODL. HODL means HOLD.
Curious to know why HODL is HOLD in the crypto world?
HODL is the misspelling of Hold. This term originated when a drunk, crypto-holder lad made a typo error to sit back and hold his coins. “I’m HODLING,” he wrote. This misspelling, since 2013 has become famous. It is the face of many crypto memes, repeated parts of long-form articles, and even Tweets by celeb Crypto holders.
9 . Flip The Flippening: Since the beginning of cryptocurrency, Bitcoin has had the highest market cap. It has a market cap of about $ 616 billion. Since its inception, crypto flagbearers have placed all their expectation on Bitcoin. But slowly, Ethereum caught the pace in the value game and their focus is now shifting from Bitcoin to Ethereum.
Flippening is a state when an altcoin surpasses the value of Bitcoin.
10 . To The Moon: A new slang, quotes with an off-beat sense of humor keep mushrooming every day amongst the crypto coiners. The most famous one is ‘To The Moon’. When the price of a coin rockets high, coiners say ‘To the moon!’ It indicates the upward trend in the price of a digital coin.
You can often find merchandise with this quote etched on them, viral memes, or in Bitcoin forum discussions. Oh btw, did you check out the ‘DogeCoin – To the moon’ song on YouTube? Click here.
The digital coin sphere is gaining traction in every household, every backyard barbeque party, and even amidst dad jokes. Understanding the terminologies is the key to ward off the fake laugher when you don’t get the jokes.
You can come across many such cryptic and peculiar slangs related to the cryptocurrency on Twitter, Bittube, or on Telegram channels with crypto coin discussions. Be a part of the discussion, learn the new technology. According to coinmarketcap.com , the total market cap of cryptocurrency is $ 1.92 trillion. That’s serious!
To learn more about cryptocurrency as a beginner, here is an article for self-learning.
A bonus term from the crypto market is DYOR. Do Your Own Research. It is short for saying, the writer intends to give no financial advice. Please do your own research before you invest. That’s all I wanted to convey. 😉