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BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo - Investment (2) - Nairaland

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Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by Nobody: 7:39am On Mar 20
ElectronicMoney:


You should also tell them the meaning of "Shitcoins" grin
lol so she wants give useless coins
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 10:06am On Mar 20
Cryptocurrency Lingo

✍HODL

A spin on the investing lingo ‘hold’ — Hold On for Dear Life. A crypto trader who buys a coin and does not see himself selling in the foreseeable future is called a hodler of the coin.

✍FOMO

Short form for ‘fear of missing out’. The feeling when you see a huge green Love Machine on a chart and you don’t own that coin, so you sell other shit to buy into it freaking out. As crypto trading is still very much driven by emotions rather than valuation, FOMO is a huge factor to consider when swing trading in crypto.

✍FUD

Short form for ‘fear, uncertainty and doubt’. Usually used in the form of “Bleep spreading FUD again.”
Example: JPMorgan’s Dimonspread FUD by saying Bitcoin is a fraud that will eventually blow up.

✍ATH

Short form for “All-Time High”. Therefore it means the highest historical price of a specific coin.

✍Whale

A huge player who has a substantial amount of capital. Whales are often the market movers for small alt-coins too due to their huge capital.

✍Pump and Dump

The recurring cycle of an Altcoin getting a spike in price followed by a huge crash. Such movements are often attributed to low volume, hence the ‘pump’. Traders who pump, buying huge volumes, may wish to invoke FOMO from the uninformed investors and then dump, or sell, their coins at a higher price.

✍Shill

The act of unsolicited endorsing of the coin in public. Traders who bought a coin has an interest in shilling the coin, in hopes of igniting the public’s interest in that particular coin.

✍Bag Holder

A term to refer to a trader who bought in at a high and missed his opportunity to sell, leaving him with worthless coins.

✍Margin Trading

A term for ‘trading with leverage’. In this instance of trading, you borrow one side of the trading pair at an agreed loan rate and sell it for the other side of the trading pair. Depending on the direction you believe the market to move, you may place a long or a short bet on the trading pair of concern...

✍Long

A position that a trader takes. To take a long position on something is to believe its value will rise in the future.

✍Short

A position that a trader takes. To take a short position on a coin is to believe its value will fall in the future.

✍Limit Order

An order placed at a future price that will execute when the price target is hit.

✍Borrowing Rate

When you open a leveraged position, you will be borrowing coins at a pre-determined rate. This rate will be added to reflect your position’s overall profit and loss.

✍Lending Rate

Some exchanges have lending accounts. You may deposit your coins into these lending accounts to lend your coins for others to execute their leveraged trades. The lending rate fluctuates throughout the day based on the demand for shorting the coin.

✍Fill or Kill

A limit order that will not execute unless an opposite order exceeds this limit order’s amount.

✍BUY | SELL Wall

A wall as seen in the depth chart of exchanges is an amalgamation of limit orders of the same price target.

✍Altcoin

“Alternate coin” so it is everything other than Bitcoin (BTC). Bitcoin is the main index for cryptocurrency market. If BTC goes up, other coins go up. If BTC goes down, other coins go down.

✍Circulating Supply

The price of a coin has no meaning on its own. However, the price of a coin, when multiplied by the circulating supply, gives the coin’s market cap.

✍Market Cap.

A stock’s market cap refers to the market value of the company’s outstanding shares.
In the cryptocurrency market, the market cap is used to illustrate a coin’s dominance in the entire cryptocurrency market.

✍DDOS

Short form for ‘Distributed Denial of Service’.
A well-timed DDoS attack at exchanges during volatile movements may be devastating as traders will not be able to execute any order manually and will be at the mercy of their pre-set, or the lack of, limit orders.

✍ICO

Short form for “Initial Coin Offerring
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by Kingdemu: 4:17pm On Mar 20
Learnt a lot

3 Likes

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by noony926: 4:46pm On Mar 20
Nice One

2 Likes

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 7:24am On Mar 21
Swing Trader is someone engaging in short trading.

Sometimes they are called day traders, they place trades based on technical analysis and take profit at their desired target and then exit the trade

While a position trader is a long term trader, they are also know as an Investors
Buy good fundamental coins and leave it for a long term.
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 7:25am On Mar 21
Kingdemu:
Learnt a lot
I am glad you did.
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by Bornboy4: 8:04am On Mar 21
A good thread

1 Like

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by Kingdemu: 10:50am On Mar 21
LauraClasikVibe:
I am glad you did.
Can you pls guide me on how to Make purchase with p2p on Binance? I can't find the p2p button when I click on buy with cash
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by ElectronicMoney(m): 2:59pm On Mar 21
LauraClasikVibe:
I am glad you did.

You've done a good job but there are still some you have not touched on eg Take profit, Stop loss etc

1 Like

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by Hamzashaf99(f): 4:19pm On Mar 21
LauraClasikVibe:
Nah there is p2p or you use payoneer then transfer to your nigerian account wink
Please how does the Payoneer option work? That p2p can be risky sometimes.

1 Like

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 10:53pm On Mar 21
Hamzashaf99:

Please how does the Payoneer option work? That p2p can be risky sometimes.
You open a Payoneer Account , you are given a US and UK bank account and link it with your Nigerian Account. Once you sell, you send to your Payoneer Account. I hope you understand

1 Like

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 10:54pm On Mar 21
ElectronicMoney:


You've done a good job but there are still some you have not touched on eg Take profit, Stop loss etc
taking profit is left to you, because to some 20% is not enough to some 5% is okay while other 123% is a good profit.

Stop loss will be discussed later just keep your fingers crossed.
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 10:55pm On Mar 21
Kingdemu:
Can you pls guide me on how to Make purchase with p2p on Binance? I can't find the p2p button when I click on buy with cash
Have you checked yazga thread, it was explained extensively.
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by Kingdemu: 11:00pm On Mar 21
LauraClasikVibe:
Have you checked yazga thread, it was explained extensively.
Yeah I just did. Thanks. You may check out and help out with my question on the thread. thanks

3 Likes

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by IyaTola: 5:05am On Mar 22
Interesting thread
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by Burgerlomo: 5:43am On Mar 22
LauraClasikVibe:
Cryptocurrency Lingo

✍HODL

A spin on the investing lingo ‘hold’ — Hold On for Dear Life. A crypto trader who buys a coin and does not see himself selling in the foreseeable future is called a hodler of the coin.

✍FOMO

Short form for ‘fear of missing out’. The feeling when you see a huge green Love Machine on a chart and you don’t own that coin, so you sell other shit to buy into it freaking out. As crypto trading is still very much driven by emotions rather than valuation, FOMO is a huge factor to consider when swing trading in crypto.

✍FUD

Short form for ‘fear, uncertainty and doubt’. Usually used in the form of “Bleep spreading FUD again.”
Example: JPMorgan’s Dimonspread FUD by saying Bitcoin is a fraud that will eventually blow up.

✍ATH

Short form for “All-Time High”. Therefore it means the highest historical price of a specific coin.

✍Whale

A huge player who has a substantial amount of capital. Whales are often the market movers for small alt-coins too due to their huge capital.

✍Pump and Dump

The recurring cycle of an Altcoin getting a spike in price followed by a huge crash. Such movements are often attributed to low volume, hence the ‘pump’. Traders who pump, buying huge volumes, may wish to invoke FOMO from the uninformed investors and then dump, or sell, their coins at a higher price.

✍Shill

The act of unsolicited endorsing of the coin in public. Traders who bought a coin has an interest in shilling the coin, in hopes of igniting the public’s interest in that particular coin.

✍Bag Holder

A term to refer to a trader who bought in at a high and missed his opportunity to sell, leaving him with worthless coins.

✍Margin Trading

A term for ‘trading with leverage’. In this instance of trading, you borrow one side of the trading pair at an agreed loan rate and sell it for the other side of the trading pair. Depending on the direction you believe the market to move, you may place a long or a short bet on the trading pair of concern...

✍Long

A position that a trader takes. To take a long position on something is to believe its value will rise in the future.

✍Short

A position that a trader takes. To take a short position on a coin is to believe its value will fall in the future.

✍Limit Order

An order placed at a future price that will execute when the price target is hit.

✍Borrowing Rate

When you open a leveraged position, you will be borrowing coins at a pre-determined rate. This rate will be added to reflect your position’s overall profit and loss.

✍Lending Rate

Some exchanges have lending accounts. You may deposit your coins into these lending accounts to lend your coins for others to execute their leveraged trades. The lending rate fluctuates throughout the day based on the demand for shorting the coin.

✍Fill or Kill

A limit order that will not execute unless an opposite order exceeds this limit order’s amount.

✍BUY | SELL Wall

A wall as seen in the depth chart of exchanges is an amalgamation of limit orders of the same price target.

✍Altcoin

“Alternate coin” so it is everything other than Bitcoin (BTC). Bitcoin is the main index for cryptocurrency market. If BTC goes up, other coins go up. If BTC goes down, other coins go down.

✍Circulating Supply

The price of a coin has no meaning on its own. However, the price of a coin, when multiplied by the circulating supply, gives the coin’s market cap.

✍Market Cap.

A stock’s market cap refers to the market value of the company’s outstanding shares.
In the cryptocurrency market, the market cap is used to illustrate a coin’s dominance in the entire cryptocurrency market.

✍DDOS

Short form for ‘Distributed Denial of Service’.
A well-timed DDoS attack at exchanges during volatile movements may be devastating as traders will not be able to execute any order manually and will be at the mercy of their pre-set, or the lack of, limit orders.

✍ICO

Short form for “Initial Coin Offerring

Gracias cool

4 Likes

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 8:46am On Mar 22
HOW TO SET STOP LOSS

We have two methods of setting Stop Loss - [Automatic & Manual method]

What is Stop Loss?

-Stop loss is a trading tool designed to minimize the loss one can suffer in a trade by automatically liquidating assets [Close a trade or sell off], once the market reaches a particularly price.

-One can choose to go for the automatic method or use the manual method of stopping losses (I prefer the manual method)

So FOR EXAMPLE we traded $EXPR as stated in this signal above

That is we bought at 0.00000144 or at current market price and went for sell price 1 or 2 •••

And our stop loss is 0.00000137

••• Then after buying, you notice $EXPR is taking too long to hit sell price or the price keeps going down instead of going up, you're adviced to remain patient but if it goes down and goes below 0.00000137, you're advised to sell it off and move to another new stock

And also, you can still remain patient and continue observing because in stock trading here, no matter how low a trade goes, it will always come back up depending on a number of variables.

The only thing is it will take time..

And that's why "PATIENCE & HAVING AN INVESTOR's MINDSET IS IMPORTANT" in trading

So deciding how long you can wait for is up to you, like I'll always tell my students:- "make your own trading decisions and stick with it".

••• But that doesn't mean you should make canceling trades your hobby•••
You need to make sure the buy order has been successfully executed first

STEP 1:- You click on "Limit Order" under the sell column to reveal a dropdown of other options. - If your app uses it (mine doesn't)

STEP 2:- Then select
"Stop-Limit"

STEP 3:- Then you proceed to clear any price you may meet in the part, so you can input a new price.

STEP 4:- Then in the space for "Stop", you need to input a price that is a little above the actual Stop Loss price and that will serve as a price alert/trigger.

i.e for $EXPR, you can fill in 0.00000140 for "Stop(B)" and 0.00000137 for the "Limit(B)". This simply means you've instructed to App to trigger the Stop Loss if the price drops to 0.00000140 and that it should not allow the price go below 0.00000137 before selling it off.

0.00000137 is the actual Stop Loss Attached To the signal, 0.00000140 is what I used as a trigger alert.

STEP 5:- After step 4, you proceed to tap on 100% and then you click sell. Trading is not a get rich quick investment

I hope this helps, thank you for your time- Credit Yazga
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 8:47am On Mar 22
HOW TO SET STOP LOSS

We have two methods of setting Stop Loss - [Automatic & Manual method]

What is Stop Loss?

-Stop loss is a trading tool designed to minimize the loss one can suffer in a trade by automatically liquidating assets [Close a trade or sell off], once the market reaches a particularly price.

-One can choose to go for the automatic method or use the manual method of stopping losses (I prefer the manual method)

So FOR EXAMPLE we traded $EXPR as stated in this signal above

That is we bought at 0.00000144 or at current market price and went for sell price 1 or 2 •••

And our stop loss is 0.00000137

••• Then after buying, you notice $EXPR is taking too long to hit sell price or the price keeps going down instead of going up, you're adviced to remain patient but if it goes down and goes below 0.00000137, you're advised to sell it off and move to another new stock

And also, you can still remain patient and continue observing because in stock trading here, no matter how low a trade goes, it will always come back up depending on a number of variables.

The only thing is it will take time..

And that's why "PATIENCE & HAVING AN INVESTOR's MINDSET IS IMPORTANT" in trading

So deciding how long you can wait for is up to you, like I'll always tell my students:- "make your own trading decisions and stick with it".

••• But that doesn't mean you should make canceling trades your hobby•••
You need to make sure the buy order has been successfully executed first

STEP 1:- You click on "Limit Order" under the sell column to reveal a dropdown of other options. - If your app uses it (mine doesn't)

STEP 2:- Then select
"Stop-Limit"

STEP 3:- Then you proceed to clear any price you may meet in the part, so you can input a new price.

STEP 4:- Then in the space for "Stop", you need to input a price that is a little above the actual Stop Loss price and that will serve as a price alert/trigger.

i.e for $EXPR, you can fill in 0.00000140 for "Stop(B)" and 0.00000137 for the "Limit(B)". This simply means you've instructed to App to trigger the Stop Loss if the price drops to 0.00000140 and that it should not allow the price go below 0.00000137 before selling it off.

0.00000137 is the actual Stop Loss Attached To the signal, 0.00000140 is what I used as a trigger alert.

STEP 5:- After step 4, you proceed to tap on 100% and then you click sell. Trading is not a get rich quick investment

I hope this helps, thank you for your time- Credit https://www.nairaland.com/6431880/stock-plays-us-stocks-market
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by Kingdemu: 9:44am On Mar 22
Great
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 11:53am On Mar 22
BREAKING: Turks Look for Bitcoin As Lira Collapses. BTC Is Now The World’s Third-Largest Currency!
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 9:34am On Mar 23
BTC - $53,000 is support ETH - $1650
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 9:55am On Mar 23
The IDEA that money doesn't grow on trees create the MINDSET that money is limited.

The truth is MONEY does grow on TREES. These trees are called IDEAS, ASSETS, INVESTMENTS and BUSINESS!

What money tree are you planting today?

1 Like

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 9:57am On Mar 23
My Portfolio Allocation:

Stocks: 70%

Crypto: 20%

What’s your portfolio allocation?
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by GeneralPula: 10:45am On Mar 23
perkyB:
can it be sold?
last time you said 100 then 200 nd now 400

Be careful of scammers..

If you wants to go into btc, you don’t need all this crap

2 Likes

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 10:48am On Mar 23
*How to Deposit funds on Binance*

Login on Binance
Then click on Funds if you're using an android
And Click on wallet if you're using an iPhone

Go to “Deposit | Withdrawal” under
Once done, select the deposit button, and it will open up the following deposit page:

Now select/search the coin you wish to deposit

You will find the list of all traded coins on that page. Search for your coin which you want to deposit and then press the corresponding button named ‘deposit’ which is present on the same row. Once done, a new dedicated wallet will be created (this is a wallet belongs to your account on Binance). The wallet address for each coin is different, make sure you do deposit only the specific coin to its wallet, otherwise it can result in complete loss of the funds.

Now, send your coins from another wallet (or anywhere you're sending from) to the new generated address
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 10:48am On Mar 23
*•WHAT IS CRYPTO CURRENCY ?*
-Cryptocurrency Use cases
-Storing Cryptocurrency

*•WHAT IS BITCOIN ?*

*•HOW DO I INVEST IN CRYPTOCURRENCY ?*

*•WHAT IS NEEDED TO BEGIN CRYPTOCURRENCY TRADING ?*

*•A BRIEF INTRO TO BINANCE*

*•INTRODUCTION TO BINANCE AND HOW TO DEPOSIT*♻️

*•HOW TO MAKE PROFITS DAILY WITH CRYPTOCURRENCY SIGNALS* ♻️
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 10:50am On Mar 23
If you don't have a KuCoin account, the following are the reasons why you should have one:

1. It's a direct replica of Binance with more features.
2. You would make huge profits if purchase a coin on KuCoin that's yet to be listed on Binance. The moment it listed on binance, it would pump.
3. It's good you have your portfolio in different exchange to mitigate risk.
4. Having its native token could be a good investment just like having BNB in the earlier days.
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 10:51am On Mar 23
THERE ARE TWO IMPORTANT ANALYSIS THAT MAKES YOU A TRADER...

LETS TAKE THEM ONE BY ONE


1. Fundamental Analysis: Reading about use cases of different coins/token to know which to invest in. People who invest in such are called POSITION TRADERS. This is best for those who are busy and does not have time to be monitoring trades. You can read more about different coin use cases on coinmarketcap to know the best coins to invest in based on the projects.

So for instance, you bought a BTC at $3k last year March and you are holding till now..You are a position trader..


You buy coins and keep with hope that in the future, it would appreciate

And if it does not....you HODL.


Technical Analysis: This is using skills to read charts on minutes, hourly, daily, weekly or monthly basis. This is for those who want to enter trades short term and exit at profits. And this is what most people would love. For those who can't do technical analysis to decide trades they simply rely on signals from those who can do. In the premium group we share 90% accurate signals and many can bear witness to its efficacy.
Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by LauraClasikVibe(f): 10:54am On Mar 23
P2P scam traders to avoid on Binance

Lordcrypto

GiggsCryptoBank

Micky enterprise too

crypto expert

Verified vendor

Legit vendor

Crypto king

Purity trades

Jesuscansave

Exchange

Ameyawcypto

Joe fonzie

Daniel otugo

Fast pay

DON

Sammy (full name: James Pius Oshiobigie)

Algoni996610 Real Name (Goni Ibrahim Ahmed)

Please add others you have encountered to the list, Let's know the rubbish traders in binance p2p

I am adding:

Mark (real name: Darlington Chizaram Obioma-Uzuogu)

Updated 22/03/21

2 Likes

Re: BOOM! Part 1 Of Crypto Vocab: Cryptocurrency Lingo by DieRich5: 11:26am On Mar 23
LauraClasikVibe:
P2P scam traders to avoid on Binance

Lordcrypto

GiggsCryptoBank

Micky enterprise too

crypto expert

Verified vendor

Legit vendor

Crypto king

Purity trades

Jesuscansave

Exchange

Ameyawcypto

Joe fonzie

Daniel otugo

Fast pay

DON

Sammy (full name: James Pius Oshiobigie)

Algoni996610 Real Name (Goni Ibrahim Ahmed)

Please add others you have encountered to the list, Let's know the rubbish traders in binance p2p

I am adding:

Mark (real name: Darlington Chizaram Obioma-Uzuogu)

Updated 22/03/21
15 peoples, so p2p is not safe at all.........so half of d trader re shit

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