Today we’re going to be looking at some terms every trader or crypto enthusiast should know, because from time to time you would come across them and you wouldn’t want to be seen as the unenlightened one. These terms make communication easier and some of them are even funny and makes crypto communications more interesting.
Without further ado, let’s get to them:
WAGMI (WE ARE GONNA MAKE IT): This is the most common lately as it also stands as a means of encouragement to upcoming traders.
HODL (HOLD ONTO DEAR LIFE): This simply means don’t sell, anyone who tells you this wants you keep that bag for a little longer.
BULLISH: This means that the market is taking or is about to take an uptrend. It’s a good sign.
BEARISH: This means the project is about to lose value (red candles). When someone says they’re bearish about a project then it might be time to not HODL and maybe get in at the bottom again.
NGMI (NOT GONNA MAKE IT): Like the name implies, the project or person is not gonna make it, maybe they’re cursed (XD).
DEGEN (DEGENERATE): A dumb person 🥲.
MARKET CAP / LIQUIDITY: The total amount backing up a project or the total worth of the project involving every investor’s funds. Coins with no liquidity cannot be swapped.
PUMP: When price of a coin surges very high.
MOON: A massive pump in price.
RUGPULL: This is when the Dev steals all the liquidity of a token and the price drops to the bottom.
BAG: When you’re told to bag a coin, it means buy plenty.
WHALE: Someone with a big Crypto portfolio.
P2P: Peer to peer or person to person means that a buyer has to meet a seller for the exchange to take place like Binance P2P where crypto buyers meet sellers for ease of transactions.
FOMO (FEAR OF MISSING OUT): This is when you rush into a coin without doing proper research just because it’s pumping or there’s hype around it.
PAJ (Pajeet): Some poor people who sell crypto (airdrops) as soon as they can or when they see small profits.
POS (PROOF OF STAKE): A method of mining validating cryptocurrency and blockchain transactions.
APE IN: To buy a coin without doing proper research soon after it launches for fear of missing out on a pump.
ATH (ALL TIME HIGH): The highest price a coin or project got to.
ATL (ALL TIME LOW): The lowest price of a market.
AMA (ASK ME ANYTHING): A session (online/offline) where the host allows people to ask any question(s) about a project and he answers and maybe does giveaways at the end (mostly).
KYC (KNOW YOUR CUSTOMER): A verification process for users to verify their identities.