If you are new in the cryptocurrency and trading world, it is good to know the meaning of some basic slang expressions and abbreviations. Using them will make you a part of the crypto gang! Let the incredible journey begin!
ICO
Initial Coin Offering. In simple terms, it’s like a crypto crowdfunding. For instance, if you have your own new cryptocurrency and wanna it to come on the market, you’d need to do an ICO to give early investors a chance to buy it for the cheapest price.
Whale
People who own a ton of cryptocurrency. They can create buy/sell walls.
ATH
All Time High. It means the highest historical price of a specific coin.
Mining
The process of acquiring cryptocurrency by using your compute power. No animal is harmed in the process.
Fork
When a blockchain splits into two separate chains. Kind of like when the roaches living in your kitchen are marching together, then a few of them start their own marching line and go a different way.
Cold storage
System that ensures maximum security and safety for your digital assets. In the cryptocurrency space, investors who want to preserve their digital assets for a long-term investment use this cold storage concept.
Fiat
Real money, such as the US dollar.
HODL (hold on for dear life)
Long ago someone on a bitcoin forum got drunk and made a post with this typo in the place of “hold”.
Tokens
Is a unit of value that is released by an organization and based on a blockchain.
Lambo
It’s what we will all buy once when our cryptocurrencies make us rich.
Mooning
A price of going up to astronomical levels. See also: “When moon?”, a question only slightly dumber than “Why moon?”, “What moon?” and “Where moon?”
Shitcoins
Coins with no real innovative technology behind them.
Altcoin
Alternate coin. It’s everything other than Bitcoin (BTC). Bitcoin was the first cryptocurrency and now is the main index for cryptocurrency market. If BTC goes up, other coins go up. If BTC goes down, other coins go down.
Fomo (fear of missing out)
It’s a fear of missing out on trades when crypto rise.
Newb
This might be you. We hope you will be a part of crypto slang world after reading this article :)
Scam
A fraud. An illegal plan for making money, especially one that involves tricking people.
Today we publish only the first part of crypto slang, so wait for the next part. Stay tuned!
