Crypto Glossary

By pilscoop | One at a time | 27 Nov 2020

When you get into the crypto world there are some terms and acronyms you start to see thrown around everywhere. Here are some of them and what they mean:

HODL: it's just HOLD spelled wrong. It means DON'T SELL!!! The origin of the spelling can be found here in the bitcointalk.org forum from the early days of Bitcoin.
REKT: slang spelling for Wrecked. It's used to describe a great loss when trading or making a bad investment in some obscure coin.
FOMO: Fear Of Missing Out. It's what makes you greedy and make wrong decisions that can get you REKT (see? it's all connected)
FUD: Fear Uncertainty and Doubt. It's mostly what you see on the news of mainstream media talking bad about crypto to scare people.
ATH: All Time High. Refers to the highest value reached so far by a coin.
DYOR: Do Your Own Research. When investing on a new project, it's the best you can do. Don't take anybody's word for it.
KYC: Know Your Customer. It's the identification and verification process for users of an exchange or service platform.
AML: Anti Money Laundering. This refers to the laws and policies that must be enforced by financial service providers to avoid or prevent illegal funds from being legitimized.
FIAT: it's basically government issued money. It comes from the Latin word fiat which means "let it be done", as in "print this money".
Weak Hands: refers to people who sell whenever the market turns red. These people don't know the meaning of HODL!!!
BTD (BTFD): Buy The Dip (Buy The Fucking Dip). It just means buy when prices are low after a crash.
Altcoin: short for alternative coin. Refers to any coin other than Bitcoin. (some people call them shitcoins)
Nocoiner: term used to refer to people who don't own any coins (duh!). It could be because they sold them all or because they don't believe in crypto at all.