Dictionary for traders on cryptocurrency exchanges
Financial markets have long acquired their own slang, but the rapid growth of the popularity of cryptocurrencies and the development of cryptocurrency exchanges have led to the fact that many "orthodox" traders trying their hand at trading digital assets, sometimes do not understand what they are talking about.
To remedy this situation, we have prepared for you a glossary of the most common slang expressions and terms used on cryptocurrency exchanges. Find out what all these words mean below.
- Crypt, crypts - a common slang name for cryptocurrencies;
- Grandfather or bat. - short name bitcoin;
- Fiat - from the expression "fiat currency" rather than the brand of a car. Used to name traditional currencies (dollars, euros, etc.);
- Satoshi - The parts into which a bitcoin is divided, a kind of "bitcoin pennies. One bitcoin contains 10 million satoshi;
- Altcoin, alt - from the expression "alternative coin". Applies to all cryptocurrencies except bitcoin;
- Fork - a cryptocurrency that emerged as a result of an "offshoot" of another cryptocurrency using the same programming code. Bitcoin, for example, has several forks: bitcoin cache, bitcoin gold, etc.
- Vanguard - to give an unsupported forecast of the rate of cryptocurrency;
- Bucket - Slang name for a pending BuyLimit order. It is assumed that as a result of price fall, the order will be opened, i.e., "as much as necessary will be poured into the bucket", after which the price will start to rise again. For example: "put the bucket on the bit at 10,500";
- Crane - a site that pays small rewards in cryptocurrency for completing simple tasks;
- Transaction, Transaction - transfer of funds between wallets;
- Pending - incomplete transaction;
- Manihold - from "money" and "hold", a partial or complete restriction on the ability to deposit or withdraw funds from a cryptocurrency;
- Wormwood, glade - is the slang name of the cryptocurrency exchange Poloniex among Russian-speaking traders;
- Pamp - Artificially inflating the volume of buy trades in order to cause a sharp rise in the rate of cryptocurrency;
- Dump - the collapse of the cryptocurrency rate, which soared as a result of the dump, caused by sales.
- Hamster - a novice player on the cryptocurrency exchange, not familiar with the situation, not understanding the basic principles and not knowing how to analyze the situation.
- Haircutting hamsters - the flow of funds from hamsters to experienced players as a result of the Pamp and Dump scheme;
- ICO - Initial coin offering, initial coin offering. It is analogous to the IPO on the stock market. The appearance of a new cryptocurrency on the exchange.
- Token - analog of shares for cryptocurrencies, before their ICO.
- Crowdsale - Initial purchase of tokens of a new cryptocurrency before its release to the ICO.
We hope our slang dictionary for cryptocurrency traders will be useful to you. If you know any other slang words, please write about them in the comments to the article, we'll be sure to add them.