Feeling left out of crypto conversations? You’re not alone! Crypto slang like ”HODL”, ‘’FOMO’’, ”to the moon” and many others have become so common, that they can be termed as a new language in the crypto world.
In this guide, we will help you decode the exciting world of crypto slang terms and by the end of this article, you’ll be able to ‘’ape in’’ the world of crypto lingo.
Why does crypto slang matter?
Why feel the need to create new words when you can simply use the conventional trading language of the legacy financial markets? Well, the cryptocurrency market is fairly new as it all started with Bitcoin in 2009, and now the cryptocurrency market has evolved with thousands of cryptocurrencies available to trade.
Unlike the traditional finance markets, where the average age of a trader is mid-40s, in the crypto world, teens and especially late 20s and 30s is the average age. With such a young tech-savvy generation, any new crypto project using ‘’cool’’ lingo is bound to attract more users who already have an affinity with the meme culture and fun terms to describe their trading.
If you’re a crypto investor, you know that the terms ‘’whale’’ and “HODL’’ convey a whole different meaning in crypto than they do in traditional finance. The slang terms used in crypto are a window of opportunity into the real culture of crypto where memes and unique terms are used as a badge of honor to communicate between traders.
Common crypto slang terms and their meanings
Here are some common cryptocurrency slang terms and their brief explanation:
Altcoin: Cryptocurrencies other than Bitcoin. There have been many waves of altcoins following Bitcoin since its inception in 2009.
ATH: All-time High. When a cryptocurrency has reached its highest value to date.
HODLing: A typo error was made when trying to write holding and went viral over the internet, so simply means holding on to a specific coin for the long term.
Bear-run/Bearish: When the price of a cryptocurrency tends to fall and experience sell-offs. Bearish is your sentiment if you think the value will decrease over time.
Bull-run/Bullish: When the price of a cryptocurrency is expected to increase, we call this sentiment bullish. Also, we have Permabulls, those bullish on Bitcoin, or crypto, permanently. Similarly, we have Permabears too.
Shills: When someone has a vested interest in promoting a cryptocurrency.
Whale: An individual or group either engaging in buying a large sum of cryptocurrency or selling a large sum of cryptocurrency that is significant enough to move the market price significantly. Traders who can move markets because of their large holdings are known as Whales.
FUD: Fear, uncertainty, and doubt. When someone has doubts about a particular cryptocurrency and shares their criticism or lies it creates fear, uncertainty, and doubt.
Rekt: Wrecked. Losing a lot of money by making a bad trade.
Bagholder: Simply means holding on to a particular cryptocurrency after the price has fallen and others are continuing to sell their coins.
Moon: Refers to the future expectation of a cryptocurrency being valued at an astronomically high price.
Pump and Dump (P&D): Refers to a situation where traders come together and collude, for example by buying a particular cryptocurrency to drive up the price and then selling their cryptocurrency at its peak while others will be tempted to buy.
Shitcoin: Coins that are likely to be scams or not worth investing in the long term would be referred to as a ‘shitcoin.’
Lambo: Lamborghini. A term used by traders indicating the high returns of particular cryptocurrencies that are likely to make in the future.
DCA: Dollar Cost Averaging. This refers to spreading out your investments and not buying a particular cryptocurrency all at once but instead buying it little by little depending on the price changes to spread out your costs and taking precautions for the losses.
Halving: Refers to the reduction in the mining rewards that ensures that the supply is increasing at a decreasing rate. For example for PoW blockchains like Bitcoin, Litecoin, and Ethereum, there is a reduction in the mining reward roughly every four years.
Ape: To “ape” means to impulsively buy a token, often a new one, without doing your due diligence.
Bitcoin Maximalist: Refers to investors who only believe Bitcoin is real cryptocurrency that has any true value and significance.
BTD: Short for “Buy the Dip,” BTD is the practice of waiting for crypto assets to fall and then buy, in the hopes that they will pump later.
Diamond Hands: A trader with “diamond hands” buys and holds a cryptocurrency for the long run with the hope that the asset will endure market volatility and pump in value eventually.
Paper Hands/Weak Hands: In contrast to ‘diamond hands’, someone with ‘’weak hands’’ or “paper hands” can’t handle the market volatility and quickly sells their cryptocurrencies at the first sign of weakness in the market.
DYOR: “Do Your Own Research” is a slogan to remind traders to do their research before investing in any cryptocurrency project.
FOMO: Short for “Fear of Missing Out,” this term is used to describe the urgency a crypto trader feels when the market becomes volatile and starts doing big moves in a small amount of time.
LFG: Stands for “Let’s F—ing Go,” used to indicate euphoria and excitement on market conditions, cryptocurrency projects, or specific narratives in crypto.
Rug Pull: A scam in the crypto world where the project developers run away after enticing the crypto investors to invest in their project, which leaves these investors with nothing.
Advanced crypto slang
Some cryptocurrency slangs are fairly technical but it may still be important to understand them. Here are some of the important ones:
PoW: Proof of Work, the consensus mechanism behind Bitcoin and many altcoins, ensures that the process of mining (or minting new cryptocurrencies) is difficult ensuring the robustness of the network. Miners burn energy and therefore prove their work by securing the blockchain and confirming transactions. PoW change is something you also hear about, which could be a way to incentivize GPU-only mining or to discourage miner concentration.
KYC: Know Your Customer refers to a situation where you have checked the identity of an individual and have taken precautions so that the money you are receiving is clean and not associated with laundering.
TA: Technical analysis. Refers to the use of the price action on the chart to determine trading positions. See BTCManager’s trading strategies page to learn technical analysis.
Cryptojacking: A type of cybercrime in the crypto mining world where a person uses someone else’s computing power to mine cryptocurrency without their permission.
Cryptosis: A term used to describe the passion for learning and discussing everything about cryptocurrency.
Flippening: Refers to a scenario when Bitcoin (the leader of all cryptocurrencies) will be overtaken by Ethereum in terms of market capitalization.
Vaporware: A cryptocurrency project that is announced officially but may never happen in reality.
No-coiner: A person who doesn’t believe in the reality of crypto or any digital asset in terms of its value.
Crypto slang in social media and forums
The world of crypto operates a bit differently on each social media platform, with X (formerly known as Twitter) being the hub of all crypto slang.
On X, the term ‘’GM’’ (Good Morning) is frequently used by influencers and crypto projects to start their day. Other terms used by many projects include ‘’NGMI’’ (Not Gonna Make It) to mock pessimistic opinions about crypto, and the opposite ‘’WAGMI’’ (We’re Gonna Make It) is used to give an encouraging outlook to the crypto community.
On Telegram and Reddit, terms like bagholders (holding a coin through profit and loss), and ‘’shilling’’ (marketing a cryptocurrency) are common topics of discussion.
How to keep up with new crypto slang?
It is important to stay up-to-date with the latest crypto jargon, as the terms used even 2 years back in the crypto world are not popular today.
To remain updated about crypto slang, keep up with groups in Telegram and Reddit, and follow the right people on X, as that is where new terms are first created and then later on become viral.
Also, trending phrases are regularly shared by cryptocurrency influencers and content producers on YouTube and TikTok, along with definitions and usage examples.
Another piece of advice is to bookmark well-known crypto forums and glossaries like CoinMarketCap and Coingecko, as they frequently add new terms. Interacting with these communities gives you insights into the mood of the market in addition to teaching you new vocabulary.
How does crypto slang evolve with market trends?
The condition of the market indicates which slang has become popular and is widely used. For example, BTD (Buy The Dip), is going to trend in a bear market, while a slang like ATH (All Time High) will trend in a bull market.
Furthermore, terms like “minting” (making a new NFT) and “gas fees” (transaction expenses on the Ethereum network), for instance, became widely used when NFTs gained popularity. Slang terms like “bagholder” and “weak hands” become prevalent in downturn markets, indicating a more cautious attitude. Phrases like “moon” and “Lambo,” which allude to the wealth that cryptocurrency might provide, regain popularity during bull markets.
Crypto lingo also changes with technology. The terminology surrounding blockchain is evolving along with new blockchain platforms and ideas. You can stay abreast of market developments and make more educated decisions by keeping up with these words.
From: crypto.news
Crypto News
