Hey,
What was the first problematic
situation in your crypto journey?
For me, it was the terms that
crypto uses.
Some of the terms are similar to
the traditional financial market,
But crypto has a more hipster
term.
Some are quite instinctive to
understand some are not,
Let me share with you some terms
you NEED to know when investing in crypto.
FUD also known as Fear, Uncertainty, and Doubt.
Used when someone is trying to
inject uncertainty to the masses spreading untrue information to get advantage of the situation.
FOMO always know Fear Of Missing Out.
Especially common when you have
the feeling of missing out good stuff (eg. selling/buying at a good price)
We always tell our students not
to have FOMO but have strategy when crypto investing is concerned.
HODL commonly pronounced as Hor-dle.
It was a spelling error of HOLD
by crypto investors and was adopted since then. The meaning is buy and hold for a long period of time.
DYOR Do Your Own Research.
This is what we always nag at
our students (you also), to do your homework before investing, do not FOMO and blindly invest!
KYC Know Your Customer
You HAVE to do KYC when you want
to purchase any coins from CEX, showing your documents and even taking a selfie to prove you are a real human.
ATH and ATL acronyms for All Time High and All Time Low respectively.
Used when a particular asset is
at the peak or botto-most of the chart.
These 7 short forms that is
commonly used by the crypto community.
What's the benefits to us in terms of our long term wealth and multiple sources of income creations?
Some thing for us to think about....
Till my next newsletter, folks.
.
To your success,
