Glossary Term: Cryptocurrency

Pamp is a term used to describe a cryptocurrency that is under a strong upward market trend, and is often used as a verb.

In crypto, “fade me” is used to express confidence in a particular investment or prediction, and a willingness to bet against those who disagree. For example, someone might say “fade me” when expressing confidence that a particular cryptocurrency will increase in value.

Apeing refers to the act of a cryptocurrency trader buying a token shortly after its project launch date without thoroughly researching it. This is typically done out of fear of missing out on potential gains that could be lost if they hesitate to conduct due diligence.

The term “aping” became popular during the 2020 “DeFi Summer” when sudden and unannounced token project launches led to a small proportion of traders making significant profits from buying those project tokens within a very short time frame after the initial launch.

Apeing is a risky strategy as it involves investing in a token without proper research, which could result in significant losses. However, some traders use this strategy to profit from the hype surrounding a new token. The term “aping” is also used more broadly to refer to buying a significant amount of a cryptocurrency due to confidence or bullish feelings regarding the current market.

A dusting attack is a type of malicious activity where a hacker sends small amounts of crypto, called dust, to multiple wallet addresses. The goal of the attack is to track the transactional activity of the wallets that received the dust and to link them to their respective owners.

Dusting attacks are used to break the privacy of Bitcoin and cryptocurrency users and to identify the real identities of the wallet owners. Dusting attacks are also used to deanonymize wallets. Dusting attacks are performed because cryptocurrency users don’t pay much attention to the tiny amounts showing up in their wallet addresses.

The dust is usually sent in untraceable amounts, and the transactions are tracked down by the attackers. If you receive dust, it’s best to not interact with it and to avoid clicking on any links in the transaction. To protect yourself from dusting attacks, you should avoid publishing your wallet addresses publicly and use privacy-focused wallets.

A crypto whale is a person, entity, or blockchain wallet that holds an extremely large amount of cryptocurrency. They are also referred to as “whales” in the crypto community.

Crypto whales are individuals or organizations that own large amounts of a specific cryptocurrency and generally hold enough digital currency to significantly influence market prices by trading significant amounts of coins and tokens. The size of the holding has to be large enough to cause a ripple effect on the price of the coin or NFT if the holder sells it all at once.

The actions of crypto whales are closely watched by investors because they can significantly influence price movements. Some well-known crypto holders with large amounts of cryptocurrency are Sam Bankman-Fried, Micheal Saylor, and Brian Armstrong. Whales can manipulate the market with their massive wealth, and their large wallets can single-handedly change the value of cryptocurrencies with their actions.

Identifying a crypto whale enables average users to watch their movement on the market while trying to predict the whale’s next action plan, which allows the user to make money while avoiding potential losses. However, it can be risky to rely on whale activity to make trading decisions.

SZN is a term used in the crypto community, which stands for “season”. In the context of cryptocurrency, SZN refers to market cycles or market sentiment. Crypto Szns are typically market rotations from one theme to another theme and can be as short as one week to two months. It’s a slang term that is commonly used among crypto enthusiasts.

Anon is short for “anonymous” and is an adjective that describes a person’s identity is unknown.

On forums, contributors often post using anonymously displayed screen names.

Anon also used to mean “soon”.

A bagholder is a term used in finance to describe an investor who holds onto a security that has decreased in value until it becomes worthless. Bagholders typically buy in near the peak when the asset is hyped and the price is high, and then hold it all the way through steep declines, losing a lot of money in the process.

A bagholder may stubbornly retain their holding for an extended period hoping that the security will rebound, fixating on remedying losses rather than realizing gains. The term “bagholder” is derived by combining shareholder with the expression “left holding the bag”. It can also refer to the holder of other assets and financial instruments that become worthless, such as junior bonds of a defaulted company or coins of a failed cryptocurrency.

Due diligence (DD) is the investigation, audit, or review performed to confirm facts or details of a matter under consideration. It is a process that involves risk and compliance check, conducting an investigation, review, or audit to verify facts and information about a particular subject. Due diligence can be a legal obligation, but it will more commonly apply to voluntary investigations. It is a way to reduce exposure to risk and ensures that a party is aware of all the details of a transaction before they agree to it.

Due diligence is primarily carried out by equity research firms, fund managers, individual investors, risk and compliance analysts, firms, and broker-dealers. It can be difficult to understand what due diligence really is and how best to incorporate it into procedures, depending on the context in which the term is used, it can hold other meanings.

Due diligence is frequently used in business to investigate and verify information about a company or investment opportunity. Due diligence meaning in law is the process by which a company is obligated to conduct an audit of any future transactions or investments they express a wish to make, and the companies with which they hope to do business are legally obligated to give them all the information needed to do so.

Rugged means you have been scammed.

Just as rug pull is used to mean “scam,” the Crypto users use rugged to mean “scammed.” This term is mostly used in social media and forums.

For example, buying an NFT but not actually receiving it, or a person investing in a cryptocurrency immediately after the creator of that cryptocurrency loses liquidity and the currency loses value. etc.

Both scenarios are examples of being rugged.