We’ve all seen a weird, strange, previously unheard of phrase in crypto you have no clue of the meaning behind. As with everything in this field, it’s relatively new to us all, so let’s dig into some of the main phrases.
FUD, FOMO, ATH and KYC, they’re all a bunch of letters than – if you’re new to crypto – you probably can’t wrap your head around. To the untrained eye, they’re just another bunch of abbreviations, nothing more than the new ‘LOL’, ‘TTYL’ and ‘BRB’, but in reality their meaning and relevance to crypto has never been stronger.
Here’s a super handy (and super, super simple) UNIFI DeFi guide on what some of these terms and abbreviations actually mean:
FUD: Fear, Uncertainty and Doubt
FUD is the process of attempting to discredit a crypto project by spreading misinformation about it, with the aim to instill fear and subsequently gain an advantage over the project or other investors.
FOMO: Fear of Missing Out
FOMO is when investors invest in a project – often when the project is already considerably up in price and movement – for fear that not doing so would lead to missing out on the next biggest boom.
ATH: All-Time High
The All-Time High price of a project/ token to date.
ATL: All-Time Low
The All-Time Low price of a project/ token to date.
KYC: Know Your Customer
The process of understanding and learning about who your customer or client is, often by verifying identifying information such as an ID or address, before going ahead with a transaction, trade or deal.
HODL: Hold
HODL (or HODLING) is the holding of your tokens/ assets through strong upswings (resisting the urge to sell for a total profit) and holding through downswings (resisting the urge to sell for fear of further downswing). HODLING is the most passive of all investor behaviours, and most often the investor behaviour that leads to the safest profits.
BUIDL: Build
Similar to HODL, except continuing to add to the total amount of tokens/ asset you hold, especially adding additional amounts during downswings/ dips to increase your holdings.
ROI: Return on Investment
The profit made from your initial investment (e.g – buying UNIFI DeFi at 4c and selling at 8c is a ROI of 100%).
ICO: Initial Coin Offering
The initial price of a coin, often before public launch, either OTC (over the counter) or on a pre-sale basis. This price is oftentimes the ATL of a project, with price typically increasing from that point.
DYOR: Do Your Own Research
DYOR is the process of researching for yourself the project/ token you are interested in, such as social media pages, publicly viewable code, holders, team, and current investors and investor activity on social media (such as Telegram) to better shape and inform your own view of that project/ token. Ultimately, DYOR leads to investors holding faith in a project and choosing to invest, or losing faith and not putting forth an initial investment.
DD: Due Diligence
Similar to DYOR, exercising due diligence and being careful before investing a sum of money/ assets into a token or project. Most often heard during an ICO stage of a project.
Hopefully this quick and easy guide betters your understanding of the sometimes-confusing world of crypto and DeFi!
Stay tuned with UNIFI DeFi for more explainer articles on everything to do with crypto and DeFi – it’s a new and exciting world out there, and we’re so pumped to have our awesome Unifamily on this journey alongside us.
Stay in Touch With UNIFI DeFi
As always with UNIFI DeFi, there’s much more news coming soon! Keep an eye out on the official UNIFI DeFi Telegram HERE for more, including big announcements and community discussions. There’s a lot coming up!
Buy Unifi DeFi:
Uniswap: https://app.uniswap.org/#/swap?outputCurrency=0x0ef3b2024ae079e6dbc2b37435ce30d2731f0101
Hotbit: https://www.hotbit.io/exchange?symbol=UNIFI_USDT
Staking:
Staking Portal (Powered by Ferrum Network): http://staking.unifidefi.com/
Price and Marketcap links:
Coinmarketcap: https://coinmarketcap.com/currencies/unifi-defi/markets/
Coingecko: https://www.coingecko.com/en/coins/unifi-defi
Useful links:
Website: https://unifidefi.com/
Whitepaper: https://unifidefi.com/assets/UNIFI%20Whitepaper.pdf
Etherscan link: https://etherscan.io/token/0x0eF3b2024ae079e6dBC2b37435cE30d2731F0101
Telegram: https://t.me/UnifiDeFi
Twitter: https://twitter.com/UnifiDeFi
Medium: https://medium.com/@unifidefi
Discord: https://discord.gg/zst234k
Youtube: https://www.youtube.com/channel/UCIs9MkJb8-CbtAGq_hybdTw
Reddit: https://reddit.com/r/UnifiDeFi
Like the tide rising, we are inevitable.
