After several months of research, I finally felt ready to dive into Crypto. I had studied, watched and listened to everything I could about Bitcoin, ledgers, exchanges and more.
Joining my first group on facebook I felt like I had entered some bizarre animal world with talk of Whales, Bulls, Bears, then came the FUD, HODL, REKT, FOMO, Lambo and Moons.
Maybe you are in the same place? Fear not!
In this article, we will guide you through these terms and explain what the hell everyone is talking about.
What Is FUD?
FUD Stands for Fear, Uncertainty, and doubt.
This is Wikipedias explanation of FUD.
” FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear.”
In other words, people, companies or organizations are spreading FUD to try and devalue the price of a coin so people sell. They then buy it cheaper and make more money.
You will see the price of a coin drop sometimes rapidly, this is not based on the charts, the project or any fundamentals.
If you are in crypto you will see no end of this. It comes from all angles. The trick is to not sell you coins based on FUD. EVER.
Fear Of Missing Out.
Self-explained really. I have seen many people buy into a coin or project because of FOMO.
Some “Influencer” says to buy a coin and everyone jumps in, only for the influencer to dump once everyone buys at the higher rate.
Or you buy at the top after seeing some huge gains in the short term.
Many people buy on impulse due to the fear of missing out, but you should always do your own research on any coin or project before you invest.
Hold On for Dear Life.
God, I hate this phrase. What happened to the F?
Anyway, a HODLER can be described as someone who buys a coin and does not plan on selling anytime soon.
All Time High. The highest historical price of a specific coin.
Tip – Not the best time to buy a coin.
The value of a coin is about to drastically increase in price ie go to the moon.
Short for Lamborghini. That’s it. You find lots of people asking the question when Lambo.
An individual or group who have a substantial amount of crypto or cash.
Whales are often the cause for prices to be driven up and also down.
This means that an investor believes a coin or the overall market will go up.
The opposite to bull. A decrease in price.
Not Bitcoin. Every other coin is referred to as an altcoin.
This means wrecked, ruined or destroyed. If you buy a coin at the top and then it crashes you are getting #REKT.
Pump & Dump.
Sometimes you will see a coin jump 300%, 400% and even over 1000% in a 24-hour time frame.
Traders or scammers who pump coins, buy huge volumes, which causes FOMO, others jump in and then the “pumpers” dump, or sell, their coins at a higher price leaving you #REKT.
Someone who sell at a loss. Normally when the market is going through a bearish trend.
To shill a coin means that someone is creating hype around a coin or project to increase its value or awareness.
Ok, that’s enough for this article – What is FUD?
Take care out there in the crypto world, don’t get REKT and buy a coin because of FOMO.
You can learn more about some crypto basics —-> Here.
Thanks for reading.