Glossary: Cryptocurrency Acronyms and their Meanings

cryptocurrency acronyms and their meanings

Learning cryptocurrency acronyms and conversational terms is one of the fun parts of being in the crypto world. Perhaps, for the first time, you get an "in" into a super cool world - the cryptocurrency trading world.

Beyond looking cool, understanding acronyms peculiar to the crypto world allows you make better trading decisions and understand relevant information that would help you as you trade. In this post, we'll be sharing with you the meanings of crypto acronyms , conversational terms and top cryptocurrencies you will need to know.

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Crypto acronyms and their meanings

A

ATH - All-Time High

This is the highest price of cryptocurrency on an exchange in reference to another particular currency.

ATL - All-Time Low

ATL is the opposite of ATH; it is the lowest price ever of a cryptocurrency on an exchange.

B

BIP - Bitcoin Improvement Proposal

BIP is a document that introduces users to new features of Bitcoin by providing detailed technical changes and upgrades to the cryptocurrency’s infrastructure.

BTM  - Bitcoin Automated Teller Machine (Bitcoin ATM)

BTM is simply an ATM that allows users to purchase (or in some cases, sell) Bitcoin.

D

DAO - Decentralised Autonomous Organisation

A Decentralised Autonomous Organisation is an organisation that is inherently set up differently from traditional organisations in that its operational rules are programmed and maintained on a blockchain with members maintaining the running of the organisation without the oversight of a governing body. Members of DAOs are rewarded with tokens for maintaining the integrity of the system and performing tasks.

DAPPs - Decentralised Applications

These are applications built on smart contract blockchains like Ethereum. 

DeFi - Decentralised Finance

DeFi is used to describe digital assets, dApps, smart contracts and protocols that operate on smart contract blockchain, particularly Ehtereum.

DPoS - Delegated Proof of Stake

This is an advanced form of Proof of Stake in which a fixed number of elected persons or entities are selected to create blocks by verifying transactions.

F

FA - Fundamental Analysis

I

ICO  - Initial Coin Offering

L

LN - Lightning Network

Lightning Network is a second layer technology that is used on the Bitcoin network such that transactions between parties are faster, readily confirmed and with minimum-to-no transaction fees.

O

OTC - Over The Counter

P

P2P - Peer-to-Peer

PoA - Proof of Authority

PoB - Proof of Burn

PoW- Proof of Work

PoS - Proof of Stake

R

ROI - Return on Investment

T

TA - Technical Analysis/ Trend Analysis

Conversational Crypto Terms

BTD/BTFD - Buy The Dip/Buy The Fucking Dip

This means buying an asset after a decline in price.

BUIDL - Deliberate misspelling of “Build”

Buidl is used when telling someone to start building a new crypto project and stop focusing on HODL.

DILDO - Refers to long green or red candlesticks in a candlestick chart.

DYOR - Do Your Own Research

When you DYOR, you are carrying out detailed research to understand a market and not just depending on information from others.

FOMO - Fear Of Missing Out

This is an emotional state that follows seeing green dildo in the chart which makes a trader buy an asset at a high price because they believe it will keep rising and don’t want to miss out on making a profit.

FUD - Fear, Uncertainty, Doubt

This is used to describe an article or statement that causes the price of an asset to drop - not based on fundamental or technical analysis. Someone who makes such a statement is said to spread FUD.

HODL - Hold On for Dear Life

A misspelling of HOLD that has come to mean Hold On For Dear Life. It is used to refer to holding an asset for a long period of time because you expect it to appreciate in value.

JOMO - Joy Of Missing Out

It is the opposite of FOMO and is the feeling that follows the plummet in the price of an asset because you didn’t buy it when the price was high.

LAMBO - short for Lamborghini 

It is used in connection with being very rich from a crypto investment.

NOOB - A newcomer or newbie in the industry.

OCO - One Cancels the Other

REKT - means Wrecked.

It means utterly destroyed or ruined, likely because of a crash in the price of a crypto asset.

TLT - Think Long Term

Refers to a strategy where the focus is on the profit to be made in the long term and not the immediate quick profit.

Technical Terms

2FA - Two-Factor Authentication

API - Application Programming Interface

BFA - Brute Force Attack

dApp - Decentralised Application

GPU - Graphics Processing Unit

Multi-sig - Multiple-Signature

SHA - Secure Hash Algorithm

Regulatory Commissions

CFTC - Commodity Futures Trading Commission

DOJ - Department of Justice

FDIC - Federal Deposit Insurance Commission

FTC - Federal Trade Commission

SEC - Securities and Exchange Commission

Popular Cryptocurrencies

BCH - Bitcoin Cash

Bitcoin Cash is a fork of Bitcoin. It was created in 2017 as a solution to the slow transaction processing time of Bitcoin.

BNB - Binance Coin

BNB is an altcoin issued by cryptocurrency exchange company, Binance. It runs on the Ethereum blockchain with a maximum of 200 million tokens that can exist.

BTC - Bitcoin

Bitcoin is the original and foremost cryptocurrency. Created by Satoshi Nakamoto in 2009, Bitcoin has become a medium of exchange around the world and offers numerous financial advantages.

cUSD - Celo Dollars

This is a stable coin that operates on the Celo platform. Celo is a smart contracts blockchain that uses the proof-of-stake consensus.

DASH - Dash

DOGE or XDG - Dogecoin

ETH - Ether

Ethereum is an altcoin that went live in 2015. Its decentralised blockchain is famous for its smart contract functionality which allows decentralised applications (dapps) to operate safely. It has also made DeFi (decentralised finance) possible and easier.

GRC - Gridcoin

LTC - Litecoin

Litecoin was created in 2011. It was one of the earliest altcoins to be made.

NMC - Namecoin

Namecoin is a Bitcoin fork that allows for decentralised Domain Name Systems (DNS). Instead of governments and big corporations owning domain name systems, Namecoin makes the owning decentralised.

POT - PotCoin

PotCoin is a cryptocurrency that is designed specifically to facilitate the anonymous sale or purchase of cannabis products

STEEM - Steem

Steem is an altcoin that is based on the Steem blockchain. Steem blockchain is a social media and content-focused platform on which content creators are rewarded with the Steem coin based on other users' interactions with their content.

USDC - USD Coin

This is a stable coin that is pegged to the USD dollar. That is, 1 UDSC = 1 USD

USDT - Tether

Tether is a stable coin whose value is pegged to the United States dollars. This means that 1 USDT = 1 USD.

XLM - Lumen

Lumen is a cryptocurrency that operates on the Stellar blockchain payment network. It helps make transactions between financial institutions faster and cheaper regardless of the location of the transacting parties.

XMR - Monero

Monero is a cryptocurrency that is big on privacy and anonymity of its users. Although it operates on a blockchain technology, which is a public ledger, the receiver, sender and amount being sent are not broadcasted.

XRP - Ripple

Ripple is an altcoin that enables a seamless transfer of money in any form (be it USD, Yen, or even Bitcoin) or commodities (like Gold or oil) over the Ripple network.

ZEC - Zcash