From “whales” to “shills” and “bag holders,” if you wish to be a profitable cryptocurrency investor, listed below are the phrases you must know.
June 16, 2018
2 min learn
For the reason that rise of Bitcoin over the previous few years, cryptocurrencies have been all of the hype. And if you happen to’re thinking about hopping on-board the crypto-train, it’s vital to know what you’re speaking about. Similar to the pool of traders and the market itself have grown significantly over time, so has the tradition, together with new slang and memes popping up on a regular basis.
Associated: 14 Things You Need to Know About Bitcoin
To equip your self with up-to-date cryptocurrency slang, right here’s a fast glossary of vital phrases you must know. For starters, get used to listening to the phrase “whale” thrown round. Whales are traders who personal 5 % or extra of any cryptocurrency coin. Different names to pay attention to are “shills” and “bag holders.” A shill is principally a scammer within the crypto-world — an individual who promotes altcoins for their very own profit. They encourage others to spend money on altcoins so as bump up their very own investments. Bag holders are individuals who maintain onto their investments for too lengthy. When it comes investing within the unstable cryptocurrency market, it’s extremely vital to know when to carry on and when to let go.
Talking of holding onto investments, one other frequent time period is the acronym, “HODL,” which means “maintain on for pricey life.” This time period was coined after somebody unintentionally wrote HODL as an alternative of “maintain” in a 2013 Bitcoin discussion board. From the hashtag #REKT, used to explain traders who expertise a serious coin collapse, to the phrase “to the moon!”, which means a coin is growing extraordinarily quick, there are a variety of difficult phrases to be taught if you happen to plan on being a profitable crypto-investor.
To organize your self, try 99Bitcoin’s infographic beneath for an illustrated glossary of cryptocurrency slang.