crypto 101

The recent months to a year have seem the cryptocurrency world rise by a large amount of popularity as well as market capitalization. Celebrities from Jamie Foxx to Warren Buffett have stated their opinions on the coins in the space, ranging from enthusiastic to quite the opposite. With the growing amount of popularity in the space, an emerging language relating to the trading of these coins has also come to light. Here are a few of the most popular terms that you might deal with when entering the cryptocurrency world. Peter Saddington, an entrepreneur and early bitcoin investor, stated recently that the definitions of these terms are quite difficult at first, but then come easy.

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The first term that he explains is known as HODL. This according to Saddington means to hold onto the coin. “Now, it’s become a meme of sorts, so that when the prices are highly volatile, bitcoin buyers say ‘HODL!'” Saddington describes himself as “a long-term HODLER.” The next term is known as FUD. This simply stands for fear, uncertainty and doubt. Those who follow these coins will often say FUD when they are sure of some type of price action in the market. This can also lead to further uncertainty, but FUD is here to stay.

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Sat’s is the next term on the list. This one is a word that is short for “satoshis”, which is a term derived from the mysterious creator of bitcoin, Satoshi Nakamoto. It is the smallest fraction of a bitcoin that can be sent. This is a number of 0.00000001 BTC or bitcoin. Many traders use this instead of using dollar value for these types of currencies. The hopes are high that these terms can continue to proliferate the industry on cryptocurrency.


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