Continue exploring the most common terminology with GameFi.org. See Part 1 here!
DYOR stands for 'do your own research.' It's widely used in cryptocurrency to advise investors to properly examine a project before investing.
FOMO (fear of missing out) refers to a trader or investor's worry about missing out on a potentially lucrative opportunity in cryptocurrency.
FUD, or "fear, uncertainty, and doubt," is an acronym used in marketing and communications. It is a psychological strategy used to persuade people to have a bad opinion of anything, such as a brand, market, or product, usually by distributing false information or igniting fear.
Shilling is the practice of promoting a certain coin to generate interest and persuade new investors to invest. Shillers may also include anyone who receives compensation for promoting a certain currency or token.
It signifies "hold on for dear life." HODL really came from a typo of the word "hold," which has persisted and now denotes "keep." It alludes to the buy-and-hold tactic. As a result, a cryptocurrency trader who purchases a coin but has no immediate plans to sell it is referred to as a "hodler" of the coin.
A hodler won't be swayed by short-term market fluctuations, not even if whole markets fall or experience extreme volatility. Instead, because they believe in the long-term worth of cryptocurrencies, hodlers will maintain their positions regardless of price.
GM stands for "Good Morning," as a greeting. In the world of cryptocurrency, it's used to spread cheer, say hello to others, and foster community online. Particularly on Twitter, users frequently begin their days with a GM tweet, to which their followers frequently reciprocate with a GM tweet.
If you know, you know, or IYKYK, is an acronym. It suggests that only a small group of individuals will understand a post or message. The term can also be used humorously to criticize someone for disclosing information that is already well-known.
LFG is the abbreviation of ‘let’s f–ing go!’ and is used to express excitement about a project.
More cryptocurrency terms are coming soon. Await part 3 of this article!