Five Must-Know Crypto Slang Terms
June 22, 2022
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1:41Now PlayingFive Must-Know Crypto Slang Terms
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as posted by the channelDo you know your crypto slang? Check out the video to learn why!
Welcome back to Bold TV with Ashton Cohen. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
Here are five crypto slang terms you should be familiar with if you plan to get involved in the industry.
Hold on for dear life, or HODL, is the first one up. It refers to the practice of holding onto bitcoin purchases as their value declines until it rises again. The term gained notoriety because a Bitcoin forum user in 2013 spelt the word "holding" incorrectly.
FUD, or fear, uncertainty, and doubt, comes next. FUD and FUDsters refers to persons who distribute false information regarding cryptocurrencies.
Decentralized autonomous organizations, or DAO, is another acronym that has gained popularity recently. DAOs are completely democratic cooperatives built on the blockchain. Many individuals are drawn to DAOs because they are run by smart contracts, which eliminates the need for CEOs and gives everyone a voice.
In the cryptosphere, MoonShot is another well-known word. A moonshot occurs when the value of a low market cap coin swiftly rises, or as they say, "flies to the moon."
DeFi, which stands for decentralized finance, is another popular crypto slang term. It refers to a new Blockchain-based, international financial system. Many people are enthusiastic about Tech DeFi because it aims to do away with the necessity for banks and other conventional financial institutions.
Did you know all these crypto slang terms? Let us know in the comments below.
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