#Crypto lingo cheat sheet for free#

The busier the network at that point in time, the larger the gas fee. GAS- Gas is used to pay transaction feeds in order to execute a smart contract. Often used in the context of artificial fear being created in the market to drive the prices down.

It might be negative media coverage, legislation or a feeling of 'lack of development' in the project. FOMO is when a token or coin surges in price and people buy into it with little research or analysis because they fear that they will 'miss the boat'įUD, ' Fear, Uncertainty, Doubt'- refers to any news or opinion that is damaging to the price of a cryptocurrency. Usually used in the phrase – Buy the Dip or Buy The F****ng DipĭYOR, ' Do your own research' - advice often given to advise that you should only buy into cryptocurrencies after having done analysis and research and make sure you understand in the overall goals and strategy of the project.Įxitscam: When the founders of a cryptocurrency run away with the investors money after an ICO.įOMO- Stands for 'Fear of Missing out'. In the same context, traditional finance is now called TradFi or CeFi (centralized finance)ĭip- A small correction in the price of a crypto token. This refers to the burgeoning decentralized finance industry within the crypto industry where Dapps (decentralized apps that run on a blockchain) allow people to lend and borrow against their crypto assets in a matter of minutes.

A decentralized council or collective typically formed for a purpose like governance of a project or a mission like raising funds to buy an original copy of the US Constitution!ĭeFi- Stands for Decentralized Finance. Non threatening disease caused by the crypto hype.ĭAO- Stands for Decentralized Autonomous Organization. Since BTC was the first cryptocurrency, and for a long time remained the only one of significant value, all the cryptos that came after it came to be broadly bucketed as ‘altcoins’ (alternate coins).īTD or BTFD- 'Buy the dip' or 'Buy the dip' is a term that gets used when the market of a cryptocurrency is in price decline and people are suggesting to pick the crypto up at a discount.Ĭryptojacking- The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.Ĭryptoland: Referring to the crypto ecosystemĬryptosis: Also known as OCD (Obsessive cryptodisorder).

#Crypto lingo cheat sheet for free#

It could save you from losing all your money.Īddress- A unique string that defines a place where individuals can store, send and withdraw cryptocurrency.Īirdrop: Token distribution by new crypto developers usually in an exchange often for free in order to popularise their coins.Īltcoin- Refers to all cryptocurrencies other than Bitcoin.