The cryptographic environment over the years and its popularity has begun to create and impose its vocabulary, Although it sounds like languages that are only understandable for users if we investigate this world of the digital economy in-depth. Visit at: bitcoin-champion.com
It will be much easier to understand all this amount of terminology that is mostly acronyms for phrases in our everyday language.
Some exciting terms to consider
Suppose you want to start investing in cryptocurrency and know everything surrounding the blockchain environment. In that case, you should prepare yourself and be up to date with all the terminologies, or at least the ones most used by crypto users.
Among some of the most used acronyms, we find the following:
- Bulls: this term refers to the attitude that an investor has towards a specific crypto asset, where he considers that its value in a long time will point upwards; these types of investors do know as “BULLS,” and their attitude is called bullish
- Bears: Unlike the “BULLS,” the BEARS consider the opposite, suggesting that the value of a digital currency will decrease in value. Usually, this position does take in the short term, and the investor’s attitude is known as bearish.
- FUD: this term arises by encompassing uncertainty and doubt; it does base on creating false or doubtful information in the environment so that the value of the currency is positioned as desired by a particular user and thus be able to take advantage of it
- POW: It is the process by which all transactions executed with digital currencies did check and verified. Including Bitcoin uses this “PROOF OF WORK,” which sums up in the acronym POW.
- POS: another verification method known as PROOF OF PARTICIPATION, this time in the approach to which this method refers based on the participation in the number of tokens that users have, even managing to determine if there are false tokens.
- Whale: It is the definition given to users who invest large amounts at a given time to the point of changing the Market to their liking because they carry out extensive operations.
- REKT: Terminology used by users of the crypto world to indicate that a particular user lost significant amounts of money. In short, he did leave in ruins.
- ROI: It is the abbreviation for the term “RETURN ON INVESTMENT” in a nutshell. Users of digital currencies use it because the main feeling when investing is that it returns more significantly to what did invest.
These are just some of the terms of the crypto jargon that they represent strategically to express the objectives that users have and are involved in the cryptocurrency investment process.
A popular term on everyone’s lips WAGMI
Most crypto users searching for information and keep up with the news regarding the movements that cryptocurrencies make and their daily value join various groups usually created in social media.
Some of the best-known channels are Reddit, Twitter, and Discord; these are the ones that allow them to communicate on time and in real-time to obtain the most relevant news before investing.
That is why, through these essential technological resources, many users create different terms or acronyms to generate positions within the same digital environment.
One of the words that have caused the most impact and that users have popularized is WAGMI; these acronyms mean “WE ARE ALL GOING TO ACHIEVE IT.”
This phrase helps convey real news regarding investment in digital currencies; it usually expresses the success of some investment made by a user in a cryptocurrency or an NFT.
This phrase in cryptocurrencies aspires to convey what we all want to achieve financial freedom.
It has become so popular that the creator of Ethereum himself, Vitalik Buterin, created a meme with the phrase and a toad, which captivated many and caused a stir.
These types of phrases further promote crypto investments worldwide generate confidence and positivism, where the ultimate goal is to achieve all the desires that we as human beings can have, a better quality of life, financial tranquility, having the freedom of time to be able to share with family and loved ones, better conditions to be able to help others.
It contributes to the cryptographic community increasing every day, growing together and the best achieving it together.