Cryptocurrency Acronyms and Meaning.

Cryptocurrency Acronyms and Meaning.

Lately, there have been a massive influx in the number of people who have taken up cryptocurrency as a hustle.
These users should be aware and get to know a few common terminologies in cryptocurrency.

Here are a few that I'd like to share with you:
1) Decentralised finance (DeFi)
Inspired by standard centralised financial services, is software built on top of a blockchain that enables the creation of services with the added characteristic of being run on a distributed ledger. Users interact — often indirectly, through a front-end user experience — with smart contracts and code rather than a central authority or intermediary, such as a bank.

2). DYOR
DYOR stands for ‘do your own research.’ In crypto, it’s commonly used to remind investors to vet a project before investing.

3). FUD
FUD is a marketing and communications term that stands for ‘fear, uncertainty, and doubt’. It is a psychological tactic to influence people towards having a negative perception of something — such as a product, market, or brand — generally through spreading misinformation or inciting fear.
In crypto, FUD usually falls into two categories: The deliberate attempt to stoke widespread fear, uncertainty, and doubt about a particular project to manipulate prices downward. General scepticism about crypto as an asset class that can result in the spreading of exaggerated negativity or ‘fake news’ on the topic. FUD, whether deliberate or not, can affect the market value of a coin, a company, or a project — and even an entire market.
It can be thought of as the opposite of FOMO. When markets are rising, individuals may give into feelings of FOMO; when markets are cooling, FUD can spread more easily.

4). GM
The acronym GM stands for ‘Good Morning’. In crypto, it is used to promote positivity, greet others, and build camaraderie online. Members of the Twitter community, in particular, regularly start off their day with a GM tweet, with followers often tweeting back with a GM reply.

5) HODL
An abbreviation for ‘hold on for dear life’, the term HODL actually derived from a misspelling of ‘hold’, which has stuck around and now means ‘keep’. It refers to a buy-and-hold strategy. As such, a crypto trader who buys a coin and does not plan on selling it in the foreseeable future is called a ‘hodler’ of the coin. The term originated from a 2013 online post to the Bitcointalk forum, where the typo first appeared. Essentially, the goal of a hodler is to weather the various ups and downs of the market with an eye towards long-term gains. Short-term market movements will not sway a hodler, nor even if entire markets crash or become seriously volatile. Instead, hodlers will hold their positions regardless of price out of confidence in the long-term value of crypto.




Here is just a few of the common terms.
I'll be dropping them daily.

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