The world of cryptography is full of strange phrases and words. This particular language is very prevalent in podcasts, videos, and forum discussions, so this can make things a little difficult for those new to crypto.
There are also special terms for almost everything in crypto.
The young and tech-savvy people living in this space have coined terms to describe different investment strategies, crypto projects and different types of investors. Join us for a quick look at some of the terms used to describe cryptocurrency investors and what they mean.
There are no hunters
It's very simple. The term is used to describe someone who does not invest in cryptocurrencies or is pessimistic about digital assets. In general, they believe that cryptocurrencies have no value and therefore have no participation, crypto tokens and coins. Hence the term "coinless".
Weak hands
Weak hands is a term used to describe someone who sells their cryptocurrency at the first sign of a market correction. These investors are not completely confident in their strategies or are easily surprised by negative news or changes in asset prices. Often, it is weak hands that cause sales and prices to drop significantly.
Diamond hands
Diamond Hands is a catchphrase for investors who refuse to sell cryptocurrency despite declines or losses. These people are the opposite of weak hands, because they hit no matter what. It's a good strategy if your investment is backed by solid research and has multiple factors that will help its value recover from a downturn.
However, it is not always beneficial to have hands made of diamonds, especially if it is in a downward spiral on a dead cryptocurrency, with no hope of regaining its value.
Bag holder
A wallet holder is a term used to describe an investor who holds a cryptocurrency despite its periodic decline in value. It is the extreme diamond hands that suffer when the coin price drops to zero and they are left "holding the bag". Their only hope is that the cryptocurrency price will somehow recover some of their losses, but that rarely happens. Anyone who chooses to hold TerraUSD (UST) would be an example of a wallet holder. Even a month after the crash, TerraUSD (now TerraClassicUSD or USTC) is worthless.
The guard
Hodler doubles the value of the coins in a week or drops 30 percent in a month, but never considers selling them. These investors work for a long time and are not affected by market conditions. Although it sounds incredibly simple, HODLing is a complex investment strategy. Even if you break out of your position and make a small profit in the process, you need a lot of discipline to invest. However, it is one of the most effective cryptocurrency investment strategies and has created many cryptocurrency millionaires.
Well
A whale is a term used to describe large investors. In terms of Bitcoin, anyone with more than 1000 BTC is considered a Bitcoin Well. These investors have the ability to control the cryptocurrency market through their transactions. If you sell enough holdings, the price of the cryptocurrency can drop significantly. On the contrary, if you start buying a certain amount of cryptocurrency, you can cause a small price increase. There are many other classifications of fish. For example, a shrimp invests less than 1 BTC, a crab between 1 and 10 BTC, an octopus between 10 and 50 BTC, etc.
Bitcoin Maximalist
For Bitcoin maximalists, there is no better currency than Bitcoin. While the cryptocurrency universe is full of technological advancements and innovations, the safe and secure concept of Bitcoin takes center stage. These investors are inspired by the brilliance of blockchain and Satoshi's innovation. Fascinated by technology, they eventually abandoned the revolution.