You’re new. You’ve put your foot into the waters of Discord CLU chat and been chased away by jargon-chattering crypto natives. Promise they’re sweet once you get to know them. But now you’re here, pleading with me to explain what the heck it all means.
Never fear, your basic crypto chick is here!
I’m about to give you the low down on all the terms that will make you walk the walk and talk the talk. People will bow at your feet. People will think you’re super crypto savvy. People will revere you!
Or, at the very least, you’ll know what they’re talking about.
Here are some of the most important crypto terms I gathered and became an “expert”in yesterday (thanks to my unbelievably supportive crypto-suave friends and the good ol’ search bar!) to help with my new-to-crypto buddies’ adventures into the CLUmmunity.
DeFi coin: short for, “decentralized finance.” (Check out here to read more about it from my previous post What Ya Talkin’ Bout–CLU). Simply, DeFi applications attempt to mimic traditional financial systems but don’t have a centralized entity controlling them as a whole.
Fiat: refers to currency established by the government to serve as money. Unlike crypto, it is tracked and regulated.
Bear market: a market experiencing prolonged price declines.
Bull market: a market experiencing prolonged price inclines.
Crab market: a stable market where it neither increases or decreases much over a prolonged period.
Blockchain: refers to a data structure that holds transactional records to ensure transparency, security, and overall decentralization. Essentially, no single entity controls all the parts.
Think of it like a metal chain. Every link is a data block that strings together and can move to some degree but, ultimately, stays in its proper order.
Tokenomics: a term to describe the characteristics of a coin that makes it appealing to investors inside the market.
HODL: short for, “hold on for dear life.” A term used primarily in the crypto community to encourage other investors to hold onto their coin and weather the market when it is often down or volatile.
“Dude, that’s a funny story” Intermission: Originally, HODL came from a typo and carried through the ages as a LEGEND.
FUD: short for, “fear, uncertainty, and doubt.” It refers to misinformation and the spread of it surrounding the crypto community in particular that drives down confidence in a coin.
Informational Snack Break: Beware the FUD-spreading trolls living on Reddit! They won’t calm down even with chocolate-covered facts. I’ve tried.
DCA: short for, “dollar-cost averaging.” The process of investing a decided amount in small increments over time. The intention is to take advantage of market downturns without risking too much at any one time. Often used for those who buy high to average down and capitalize on their investment in the long run.
Burn: a term used to reference when a developer (sometimes digital currency miners) removes its own coins from circulation to slow down inflation and decrease the total supply circulating in the market.
Vesting: the act of keeping tokens from being traded or transferred during a scheduled, often long-term, period of time.
Fact: CLU vested its burn, CLUnited, team, and CLUmmunity wallets.
Ladder: the act of buying and selling incrementally with a limit to avoid buying or selling too much at any single price, essentially moving up and down in position over time.
ATH: short for, “all time high.” This term refers to the coin’s highest price point.
NFT: short for, “Non-Fungible Token” which is a digital artwork in some format that, much like crypto coins, gains value over time and can be traded online like any collectable within the crypto market.
FACT: CLU has NFTs it has given away to its holders as rewards for being an early buyer, participating in events, and winning giveaways.
DYOR: short for, “do your own research,” which means exactly how it sounds. It’s meant to encourage a potential investor to do their own research before investing in a coin, oftentimes to avoid rug pulls and honey pots.
FOMO: short for, “fear of missing out,” often refers to individuals who don’t want to miss out on buying something because of hype made around it. In crypto coins, in particular, the potential gains cause people to rush to invest, and if it’s a true FOMO, the coin drops down in price dramatically afterwards.
Diamond hands: a term we use in the crypto world for people who hold their coin through tough markets and tumultuous periods. Simply, people who hold through anything.
I.E. Whenever you see the hand and gem emojis, you’ll now know what they’re referring to.
Paper hands: a term used to identify those who sell the minute the coin rises and profits them as well as when the coin even remotely starts to drop.
I.E. “Shaking off those paper hands.”
Many of these terms are pretty straight-forward, but the ones that aren’t, you can now use in a sentence without anyone suspecting you’re new to this exciting thing called crypto.
Ultimately, CLU is an investment, so being well-informed will protect you against FUD and any other malicious types of naysayers roaming social media.
The crypto market can sometimes be volatile, confusing, and fast-paced. It’ll take time to learn all there is to know. Don’t worry if it feels like you’re still fairly unsure or it’s somewhat out of your depth.
You are not alone.
It’s been a few months since I, myself, joined this exciting world. Half these terms I learned yesterday and it took careful, slow, sometimes in-depth explanation from my fellow crypto buddies to understand what any of them meant.
The CLUmmunity is very welcoming and happy to answer any and all of your questions. All are welcome, from long-time holders to potential or brand-new investors. We’ll be there for anyone looking for answers in our Discord (or on Twitter and Telegram).
Ask questions and get involved. You won’t regret it. You’ll likely make a horde of new friends, too! I know I did.
*The opinions represented in this blog are my own and are in no way, shape, or form the opinions of CluCoin or their affiliated parties.*
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