Cryptocurrency and blockchain technology continues to become increasingly popular, with many people entering the space to make investments or use crypto for payments. But what do terms like HODL, BUIDL, DYOR, and NFA mean? These are some of the most common acronyms used by crypto users and blockchain advocates, but their meanings can be confusing if you’re not familiar with them. In this article, we will explain each term in detail so that you can understand what they mean and how they relate to cryptocurrency investing.
HODL stands for “Hold On for Dear Life,” and it is a popular investment strategy adopted by cryptocurrency traders. The term was first coined in 2013 on the BitcoinTalk forum when a user misspelled the word “hold” when talking about how they would continue to hold Bitcoin in spite of price volatility. Since then, it has become a rallying cry for many in the cryptocurrency community and has become a popular term that means to buy and hold an asset for the long term during times of market volatility/downturns, with the belief that it will appreciate in value over time.
BUIDL is an acronym that stands for “Build Unconditionally, Ignore Doubters and Lemmings”. It is a term that has become popularized in the crypto/blockchain community as a way to encourage people to take initiative and build projects in spite of the uncertainties and market volatility. The term was first used in 2018 to promote the idea that success only comes from building, and that any venture should be built unconditionally without considering what others think or say. This concept focuses on taking initiative and using one’s own initiative to create something that can be useful to the crypto and blockchain community.
DYOR stands for “Do Your Own Research”. It is a reminder to do your research before making decisions about investing in cryptocurrency. This is important because the crypto and blockchain space is new and ever-evolving, and understanding how it works can be beneficial when making decisions related to investments.
NFA stands for “Not Financial Advice”. It is used to inform readers that any advice given should not be taken as financial recommendations. Instead, it encourages the readers to do their own research and come to their own conclusions when making decisions related to cryptocurrency investments. NFA is mostly used by crypto influencers and analysts/experts to let followers know that the content they are providing is not investment advice. It’s important to remember that everyone’s financial situation and risk appetite is different, so consider that when making investment decisions.