Learn the Crypto Slang – Part Two

When reading crypto articles, do you often come across slang expressions such as “DEX”, “DYOR”, or “FUD” that you might not completely understand? That won’t be a problem for you anymore!

Fumbi has prepared for you a five-week blog series with the most important abbreviations and terms from the world of crypto. It doesn’t matter whether you are a novice or a professional. The crypto world is rapidly evolving, so it’s essential to keep up with the slang used by the crypto community.

In part two, we prepared for you the following ten terms from the world of cryptocurrencies:

• AMA – AMA is an acronym for “Ask me anything.” It’s an interactive communication where company directors or founders of crypto projects answer any community questions. AMA was initially text-based and eventually spread into live broadcasts on social media.
• DAO – Decentralised autonomous organisations are companies or organisations collectively owned by their members and don’t rely on any central entity. These organisations usually have their own treasury where nobody has access without the group’s approval. Any organisation’s decisions are made by proposals and voting to ensure that everybody in the organisation can take part in future development.
• GWEI – It’s a tiny amount of Ethereum cryptocurrency used for transaction fees on the Ethereum network. One Gwei equals 0,000000001 ETH.
• Metaverse – It combines several technological features, including virtual reality, augmented reality, and the real world, into one reality where users live a full-featured life within a digital world. The Metaverse users work, live, and interact with other users in the virtual world of Metaverse.
• “To the Moon” – In the world of cryptocurrencies, the expression “To the moon” is used when the price and volume of a particular cryptocurrency increase with a rocket speed by tens or hundreds of percent within a short period. In such a case, the cryptocurrency is flying “To the moon.”
• Multisig – It’s a digital signature scheme that allows two or more users to sign a transaction as a group. Multisig is essentially a multi-signature made up of several unique signatures.
• NFA – NFA is short for “non-financial advice”, often used by influencers on social media during programming various crypto projects. Through this acronym, the user declares that they are not providing any financial advice, just a subjective stand and opinion.
• Rekt – In the crypto community, rekt is used for someone who suffered heavy financial losses due to bad investment decisions.
• WAGMI – Acronym WAGMI stands for “We are all gonna make it,” usually used to characterise a future state where the investments have achieved abnormal evaluation and brought their investors high profits.
• Weak Hands – If the investor has “weak hands”, their investing is driven by fear and emotions. Such investor usually sells their assets at any sign of negative information regardless of planned investment strategy.

Do you want to improve and know all of the essential terms from the world of cryptocurrencies? Take a look at our Fumbi dictionary, where you’ll find many more terms and abbreviations.

In case you’ve missed our previous crypto slang articles, you can find them at the following links:

Learn the Crypto Slang – Part One

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