15 crypto words you can’t afford to NOT know

Feb 21, 2022

By: BI India Bureau

I kept DYOR, until I found a memecoin to hold with diamond hands, which will moon tomorrow.

Did that make sense?

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If not, you’re in the right place.

Here are 15 words that you cannot afford to NOT know when it come to cryptocurrency.

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Buy high sell low

Self-deprecating humour to convey that at least some crypto trades are unprofitable.

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Buy the dip

A coin’s price ‘dipping’ down can be the best time to buy it at a low cost.

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DEX

A decentralised exchange — a way of trading cryptocurrency without centralised crypto exchanges to supervise operations.

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Diamond hands

One who fights emotions to stick to a chosen gameplan — avoids selling assets in panic

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And its opposite, paper hands

An emotional investor who tends to sell when there is FUD, and buys when the market is already bullish

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FUD

Fear, Uncertainty and Doubt – an unholy trinity of emotions to change public perception against something

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DYOR

Do Your Own Research – make sure to understand crypto project’s fundamentals before investing

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FOMO

Fear of missing out – an intense emotion which results in investors buying crypto because the market is high

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HODL

Mis-spelling of ‘hold’ — refers to keeping crypto in the bank for an indefinite time period, expecting it to rise in price

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Memecoin

When a crypto coin becomes famous riding on the back of a popular meme, like Dogecoin or Shiba Inu

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Pump and Dump

PUMP - When a digital asset’s price is intentionally pushed up sharply, for investors to buy in | DUMP - Sellers cash in the asset and drop the price sharply

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To the moon — and its cousin, 10X

A (possibly) irrational belief that the price of a particular cryptocurrency is going to rise sharply

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Rekt

Mis-spelling of wrecked, used to describe what happens when one’s crypto asset prices see massive losses

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Whale

An entity who owns a large portion of a coin’s total supply, usually over five percent.

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When Lambo?

The belief that crypto investors can get rich, fast enough to buy a Lamborghini car sometime soon.

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