9ja Pidgin Crypto Mini-dictionary

[Comeacross]

In attempt to make crypto easier to understand for everybody, I dey create this thread to translate popular crypto terminologies to our lovely pidgin language.

Most of our people dey hear words like HODL, FUD, FOMO etc and e dey sound like oyibo grammar for our ears. If we translate some of this words to our local pidgin, newbies go dey grab am fast and teaching about crypto go become simple too.

I no dey perfect. I no fit cover everything but with your help, I can do it. I fit skip some important terms, make mistakes too but I go dey update the thread based on suggestions.

Address
Long letters/numbers wey you dey use receive coin. E just dey like your bank account number.
Altcoin
Any other crypto wey no be BTC. Eg ETH, BNB, SOL
ATH
All time high na the highest price wey the coin don ever reach since e dey exit.
Bear market
Period when market dey mostly dey red. Price dey drop well well for this period. Na period wey most people dey fear.
Blockchain
Where every crypto transaction dey appear. Na just like attendance book for school wey dey show say you come school. If the record no dey blockchain, the transaction no happen be that because nobody fit delete or change anything from inside.
Bull market
When market dey sweet everybody for body. Na period wey price dey move up like smoke.
BTC
Digital money. Na the first crypto wey Satoshi create be this. Nobody dey control am like our Naira wey CBN and government dey control how e dey circulate.
DCA
Dollar cost average na strategy wey people dey use accumulate BTC. Dey buy small small coin on a timely basis with the amount you can afford to lose.
DYOR
Do your own research. No follow crowd blindly. Check that project first before you invest, no follow any influencer post enter bush.
Exchange
Crypto market where dem dey buy/sell/swap coin. Na just like normal market where people dey buy and sell goods but this one na on Internet.
Fiat
Government money. Any money wey government dey print and control. Whether na oyibo dollar or our own Naira.
FOMO
Fear of missing out. That period wey you follow people rush buy coin so you no go dey left behind.
Fork
This one no be spoon, na when blockchain divide into two versions. Like we get BTC and we con get bitcoin cash
FUD
Fear, uncertainty and doubt. Na when people dey spread rummor, negative rumours just to make you fear and sell your coin
Gas fee
E dey like transport money to send goods to another destination. Na small amount you pay to send crypto to another wallet.
Halving
E dey happen every 4 years. The purpose na to make BTC scarce by cutting miners reward.
Hardware wallet
Physical device for storing your Bitcoin. E just dey like box.
HODL
Hold am tight like your life depends on it. Even when price dey drop, no panic sell, it's a term for long time holding.
Lump sum
Heavy one time buy. This one dey like opposite of DCA. Instead of buying small small, you save the money and buy big later at once.
Market cap
Total worth of the coin. Price of the coin x Total coin in circulation = market cap.
Mining
This one na machine work. Na computer work to confirm transactions and earn new coin.
P2P
Peer to peer. Direct transfer between people wey dey transact without involving middle man.
Private key
Secret key wey fit access your coin. Na only you suppose get access to it because if any other person see am, dem fit move your coin.
Sats
Some people dey call am Satoshi too but no be the creator of Bitcoin we dey refer to here. This one mean the smallest unit of Bitcoin. Na this sat make it possible to buy BTC for as low as possible. 1 BTC can be divided into 100 millions sats.
Rug pull
This one dey like yahoo yahoo. Na when developers disappear with investors money.
Seed phrase
A set of secret words to unlock/recover your wallet. Abeg no confuse this with private key. E dey similar but they are not the same. Seed phrase na like master key but private key na single key.
Stable coin
Crypto coin with less volatility. The price usually dey pegged to USD. USDT, USDC na examples of stable coin.
Wallet
Normally wallet na where you dey keep your valuables like ID cards, ATM etc. For crypto, e mean where you dey keep your coin.
Whale
Na dem big people for crypto be this. People like Dangote, BUA etc for Nigeria dey affect economy when they make some decisions because na dem dey contribute pass for the economy. Whale action to buy or sell dey affect price because dem get large amounts of coins.
Volatility
Na the speed wey market dey take jump up and down within short periods. You fit close eyes and open it and like $10 don comot or add to price.

Na some of the few wey I remember now be this. If you can think of any other ones, let have it and I will include it.

[Hypnotizer]

In attempt to make crypto easier to understand for everybody, I dey create this thread to translate popular crypto terminologies to our lovely pidgin language.

It’s a good thing you did but nowadays people would just ask Ai or use Google to search for the meaning of terms they find hard to comprehend which I’ve not seen any hard word in your post and most people in this local board speak and understand English very well, some even understand English more than Pidgin.

Don’t be discouraged by my thoughts tho, take this as a constructive criticism to improve, maybe you could add more terms that you thing people might probably not understand but these ones here are to basic..

Mining
This one na machine work. Na computer work to confirm transactions and earn new coin.

Mining is the process of adding or confirming Validate transactions and adding them to a block and it comes with a reward which is halved after every 210,000 blocks or four years.

[Comeacross]

It’s a good thing you did but nowadays people would just ask Ai or use Google to search for the meaning of terms they find hard to comprehend which I’ve not seen any hard word in your post and most people in this local board speak and understand English very well, some even understand English more than Pidgin.

Don’t be discouraged by my thoughts tho, take this as a constructive criticism to improve, maybe you could add more terms that you thing people might probably not understand but these ones here are to basic..

Thank you for your input.

I know we have Google and AI, but do you think this forum go serve any purpose again if we all want to rely on AI and Google? No be everybody Sabi phrase question for Google or know the right prompt for AI. Some people learn better when their fellow person teach them instead of learning on their own through other means.

Na because you're already use to the system na why e easy for you. I believe we have secondary school students in this forum too and they may never know much about it.

I know my compilation is too basic. Na why I say make others help me with suggestions so I can update the thread. I go appreciate if you go mention some advance terms so I go add to my list. I believe together we go make am make sense.