Mar 29, 2021

Crypto Slang Part 2

Back by popular demand, here is the second part of our crypto slang guide.

Rug pull📉 - a crypto scam, where the creator of a particular coin suddenly removes the funds collected from investors from the wallets and makes off with the money. Usually a sudden process, like pulling a rug from under somebody. Potential scam risk can be identified analyzing the smart contracts governing the wallets.Rekt☹️ - "wrecked", meaning a heavy loss, often scam-based

Whale🐳 - a major owner of a cryptocurrency, its operations can create price movement for smaller coins. A certain degree of professionalism of whales is often assumed, making it worthwhile to track and follow their moves

Candle🕯️ - short-term crypto price diagrams are usually done using candles. They are vertical bars depicting coin price change within a time period. The candle shows the price at the start of the period, at the end of the period and the highest and lowest price during the period.

Shill🤥 - an individual strongly promoting a cryptocurrency. A strictly derogatory term used to expose individuals masquerading a sales push for objective advice.

Sats👛 - abbreviation for Satoshis, the smallest Bitcoin unit. Often used in "stacking sats" as a credo of people who believe in Bitcoin and want to own as much of it as possible.