As a seasoned crypto investor with battle scars to prove it, I can’t help but chuckle at the colorful jargon that fills the digital frontier of cryptocurrencies. The world of crypto is indeed a wild west, where shillers roam free, promising fantastical returns on the next big thing.
As an analyst, I’ve noticed a surge of enthusiastic promoters for Crypto X on platforms like Telegram and Reddit, who are eagerly touting the potential for substantial returns and impressive profits in this digital currency.
To help those who are new to the field, we’ve created a straightforward glossary explaining some of the frequently used terms in the cryptocurrency world.
As a crypto enthusiast, I break down some common jargon used by crypto evangelists, translating their cryptic expressions into everyday terms that are easy for everyone to grasp. This way, we can all navigate the exciting world of digital currencies with more confidence and understanding.
DYOR
When it comes to cryptocurrencies, remember that “DYOR” stands for “Do Your Own Research.” This means that it’s essential for each person to independently investigate any investment opportunity they might consider. In the world of blockchain, this self-reliance is crucial since every individual bears the responsibility for their own decisions regarding project investments.
Always remember, even if an asset seems highly popular and multiple influencers endorse it, if the token value drops to nothing, it’s up to you to take responsibility for your investments. Essentially, make sure you do thorough research yourself before making any decisions.
Translation: When you lose all your money, it’s not my fault.
NFA
NFA, or ‘Not for Financial Advice’, is a term frequently employed to protect individuals from potential legal repercussions when they appear to be providing financial guidance. For instance, if someone seems to be offering financial advice, but includes this disclaimer, it’s like they’re carrying an invisible shield that safeguards them.
-We’re going to the moon! (NFA)
-Partnership announcement imminent! (NFA)
-Buy now! (NFA)
As a financial analyst, I firmly believe that providing financial guidance carries significant weight and potential consequences. It’s crucial to seek advice from a seasoned professional who has built a solid reputation through years of successful financial investments.
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The term “NFA” could be obtained from an anonymous account on platform X, going by the moniker “Captain Cryptopants.” This account’s profile picture features a comic aardvark donning a sailor’s hat and smoking a large cigar.
Translation: When you lose all your money, don’t sue this aardvark.
HODL
“Hodl” is a misspelling of hold, which initially appeared in a 2013 Bitcointalk forum post.
In that moment, the value of Bitcoin was extremely unpredictable, and the poster advised Bitcoin users not to cash out but rather hold onto their Bitcoin instead. The post contained numerous spelling mistakes, suggesting that the writer might have been under the influence, a fact he confessed at the conclusion of his message.
Ever since, that phrase has taken on the role of a unifying slogan among ardent cryptocurrency enthusiasts. Some have even reinterpreted it as an abbreviation, standing for “Hodl,” meaning “hold on tight” or “hang on for dear life.
Translation: “In a zero-sum game such as this, traders can only take your money if you sell.”
Find safe entry
Safe entry is a trading term that is somewhat in the eye of the beholder.
In an ideal scenario, a secure entry into the market occurs when the token’s current price is significantly lower than its expected rise in the immediate future. This enables you to purchase, subsequently sell, and thus earn a profit.
An unsafe entry refers to a situation where a token’s current value is significantly greater than what it is expected to be shortly, providing an opportunity for purchasing or selling, which could potentially lead to substantial losses.
The trick is knowing which circumstance is which, and if you don’t, that’s not the fault of the crypto shiller who recommended you buy in.
In a similar vein to “Do Your Own Research (DYOR)” and “Not Financial Advice (NFA),” phrases like “find safe entry” or “find good entry” serve as a means to relieve the party offering advice from any accountability regarding their recommended token.
It’s not my responsibility if you failed to locate a secure entrance, resulting in the loss of your funds. You were advised to do so earlier.
Up only
This phrase appears to suggest a token will offer profits no matter where or when you buy in.
Anyone who has spent a modicum of time in the crypto space knows that there is no such thing as a token that only goes up. So if anyone is promising you a new crypto project that is “up only,” be wary.
Translation: This token will definitely go down at some point.
To the moon
When someone who discusses cryptocurrencies says a token is “headed for the moon,” they are expressing either confidence that its value will increase dramatically (up to 100 times its current price), providing substantial profits for all investors, or they’re merely voicing their optimistic expectation that it may do so, even though it might not actually reach such heights.
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In a rush, statements like “to the moon” often seem similar to the first situation, but in truth, they’re usually more aligned with the second one, making up approximately 99.9% of instances.
Translation: Houston, we have a problem. We lost all our money.
Buy the dip
When token values increase, they decrease as well. To make a profit by trading tokens, it’s wise to purchase them at their lowest points and sell them when they reach their highest. In simpler terms, if you buy tokens during a dip (when prices are low), you’ll likely see a return on your investment.
However, finding the bottom of a market cycle is a different matter altogether. Sometimes the token price keeps falling, even after you bought the “dip.”
Translation: We’re going to the moon now. You should have bought the dip!
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2024-11-03 16:06