I cannot speak for everyone, but I remember when I first started to trade, I was reading other traders’ messages and came across words I never heard of before. I had to start researching some of these words, so the conversations started to make sense for me. Luckily, I have compiled a list of all the lingo you need to know;
Altcoin – Any coin/token that is not Bitcoin.
Arbritage – Taking advantage of different prices, from different trading sites, for the same coin.
ATH – All time high (highest price a coin has ever been).
Bagholder – Someone who is holding on to an altcoin until the price recovers to their original purchase price.
Bearish – Price is looking like it will go down.
Bullish – Price is looking like it will go up.
Bitcoin – The ORIGINAL Cryptocoin.
Exchange – Somewhere where you can buy, sell and trade Cryptocurrency (check out our reviewed platforms and wallets).
Fiat – A government currency. E.g. USD, GBP.
FOMO – Fear of missing out.
Halving – Where reward for mining is halved (price usually volatile around this time)
HODL – Holding your coins. Slang for someone saying they are not selling when the price is going the wrong way for them.
ICO – Initial coin offering. Basically, when a new coin is launched, the founders usually raise money buy selling the coins at usually a discounted price.
Limit Order– An order that is set by a trader. This is a price that the trader wishes to open the trade at, not current price.
Long – A trade that predicts the price will increase.
Market Order – An order a trader makes at the current price.
Mining – A computer that solves the next block in a blockchain to gain rewards in BTC and other coins.
Moon – When someone shouts moon, they are anticipating a huge increase in price.
Pump and Dump – A quick price increase, followed by an instant fall in price.
ROI – Return on investment.
Satoshi – Creator of BTC.
Short – An order that predicts the price will decrease.
Stable Coin – A coin usually fixed at a price.
TA – Technical Analysis.
Wall buy/sell – Typically a big order waiting to be filled (the chart looks like a giant wall).
There you have it. There are hundreds more, but these are the most common. If I have missed any more common lingo phrases, please feel free to add them to the comments.