Cryptocurrency is a fascinating new technology that has already had a significant impact on the financial sector in its brief existence. Like any new technology, bitcoin has spawned a slew of new terms and phrases, many of which have subtle or creative implications that the average person may be unaware of.
Learning these sophisticated terms and acronyms can help a crypto novice purchase the dip and HODL through a wave of FUD. (By the end of this post, you’ll understand exactly what I’m talking about.)
Let’s understand some of these Crypto slang terms
This is the acronym for “Hold on for dear life”. HODL is a popular crypto slang that is a misspelling of the word “hold”.
During a period of market instability in late 2013, an uneasy investor posted on a Bitcoin forum about how investors are unsuited to trade highs and lows and should instead buy and hold in their own crypto wallet. Since then, HODL has grown in popularity, with investors instructing others to HODL during price rallies.
The term “fear of missing out” (FOMO) refers to a feeling of being left out. FOMO is a condition that affects people in many aspects of their lives. It’s a common investor psychological state in which an investor feels a mix of terror and envy for not being able to participate in a dramatic market move that others are profiting from.
When a sharp bullish breakout happens in cryptocurrency, nervous investors debate whether or not to purchase into an already high-priced market in the hopes of riding out the rest of the rally. FOMO may occur in any financial market, but it is more common in crypto markets, where the majority of participants are inexperienced retail investors attempting to negotiate extremely volatile price action while attempting to establish a well-balanced crypto portfolio.
“Fear, Uncertainty, and Doubt” is what FUD stands for. FUD is one crypto slang term to know. It is a psychological technique for instilling negative emotion about a certain asset in order to discourage further purchases or even to encourage selling or short-selling.
The goal is to drive down the price of an asset so that the FUDer can either accumulate at a lower price or inflict financial anguish on others who may be holding the token for a competing crypto project.
Fear, uncertainty, and doubt can be transmitted in a variety of ways, including bad fundamentals, dubious project leadership, stagnant or bearish price movement, unclear roadmaps, a lack of acceptance, limited network usage, and inability to transact in certain areas.
You never want to be caught holding the bag, but in the crypto world, that’s exactly what a “bagholder” is. A bagholder is someone who purchased into a position at a high price and then saw their holdings collapse in value.
Rekt, a deliberate misspelling of “wrecked,” is the crypto slang term for an investor’s portfolio or investment being easily vanquished. It’s trending on social media to warn of overleveraged holdings being liquidated, resulting in significant financial losses.
Shilling is the act of promoting a service or investment, especially one of low quality, through propaganda or misleading or exaggerated narratives in exchange for a cash incentive. Shill is one of the crypto slang terms to know do you’re not misled in the market.
Shillings have a bad connotation and are commonly utilized in pump-and-dump tactics, but they can also be used in other situations. A cryptocurrency project developer may shill their project to help it get users and flourish, while a casual investor may shill a failing coin in their portfolio to sell it for a profit at a better price.
A whale in the cryptocurrency world is a large-scale investor in a particular project. A Bitcoin whale, for example, a corporation with 50,000 bitcoins has the ability to affect markets with a single trade.
8. Pump and dump
The term “pump and dump” isn’t limited to bitcoin; it also applies to stocks. In regulated securities, it is called market manipulation and is banned. A pump-and-dump situation occurs when investors hype or inflate the price of an item, such as a cryptocurrency, before selling their holdings before the price collapses. They inflate it, then dump it before it plummets.
This is referred to as the hypothetical moment when the value of Ethereum surpasses that of Bitcoin.
10. No coiner
A “no-coiner” is a person who is negative about cryptocurrency and does not believe it has a practical case. As a result, they have no assets, crypto tokens, or coins.
Since being enforced by regulatory bodies in 2017, numerous crypto exchanges have been compelled to do KYC, or “know your customer,” identity verification.
KYC is a long-standing regulatory practice in traditional finance, but it has sparked controversy in the crypto sphere. Some Bitcoin-maximalists and crypto aficionados are vehemently opposed to KYC, claiming that it undermines the decentralized nature of the cryptocurrency.
BTD stands for “buy the dip” and is a term used in the financial markets to describe entering a long position during a suspected momentary drop in the price of an asset. It is most typically employed in bull markets to boost bullish mood and rising prices, but it may also be used in bad markets to buy at a solid historical value for a longer-term investment horizon.
Cryptosis occurs when a person is infected with the crypto bug and is unable to stop talking about it. All day, nonstop, the afflicted reads, writes, talks, and otherwise consumes knowledge about cryptography.
Vaporware is a glamorous, cool concept or idea that will almost certainly never exist or come to reality. It can also refer to hypothetical cryptocurrency with no obvious application.
15. When Lambo?
Lamborghinis, the high-end sports cars became synonymous with crypto culture at some point. Mostly because crypto millionaires were able to purchase them. As a result, the phrase “when Lambo?” has come to represent the success of a coin. It effectively asks when the item in issue will appreciate to the point where the owner will be able to purchase a Lamborghini.
Satoshis, or “sats,” are Bitcoin’s smallest unit – 0.00000001 BTC to be exact. One satoshi is equal to 100 millionth of a Bitcoin and is named after the credited creator of Bitcoin, Satoshi Nakamoto (which could be a pseudonym for a group of persons).
Because Bitcoin is highly divisible and frequently traded in fractional amounts, the ability to denominate arbitrary fractions of a Bitcoin is critical. This is especially significant given the steep climb in Bitcoin’s price over the past decade, making it prohibitively expensive for new investors to purchase a single Bitcoin.
“Stacking sats,” another common term, refers to an investment technique in which an investor accumulates satoshis, or fractions of a Bitcoin, in order to increase a Bitcoin stake.
An airdrop is a means of giving cryptocurrency to a large number of people at once. To promote exposure and interest, new projects may airdrop and give away their tokens. Before they send the token to your crypto wallet, some may demand you to fulfill particular duties, such as talking about the initiative on social media.
When crypto-jacking malware is installed on your computer, it may be possible for them to mine cryptos without your knowledge. They can profit from mining without having to purchase equipment or pay for electricity to keep it running.
This is a small sum of cryptocurrency that remains trapped in a wallet. This happens when you don’t have enough to meet the minimal requirements to trade it on a crypto exchange. Alternatively, the dust could be worth less than the fees you’d have to pay to transfer or use it.
You should do your own research (DYOR) before investing in cryptocurrency to ensure you know where your money is going. Someone can tell you about a new coin they like, but then caution you to DO YOUR OWN RESEARCH.
The market capitalization of cryptocurrencies is frequently used to rate them. The next coin “flips” when the market cap of one crypto pushes it up the rankings. The term “flipping” alludes to the possibility that Ethereum, the second most popular cryptocurrency, would overtake Bitcoin as the most valuable cryptocurrency in terms of market capitalization.
22. Moon or Mooning
When the price of crypto is rapidly climbing or skyrocketing, it is referred to as mooning. An investor might be curious as to when their coins would “travel to the moon.”
A digital coin developed with the express purpose of defrauding investors.
24. Seed phrase
A representation of the private key of a crypto wallet. If you’re making a crypto wallet, the seed phrase or private key should be kept safe. The private key is what allows you to send the cryptocurrency you have in your wallet. You may lose all of the coins if you lose your key.
25. Rug pull
This is one of the crypto slang terms to know. It is a sort of crypto fraud in which the perpetrators create and promote a new scamcoin. They yank the rug out from under investors’ feet and walk away, leaving them with little or nothing (in other words, the people getting scammed are bag holders).
26. Not your keys, Not your coin
This is a term referring to the fact that whoever controls a crypto wallet’s private key has power over the wallet. Crypto enthusiasts may opt to create and use their own wallets so that the private key can be kept private.
Investors may be curious as to when the price of their currencies will reach a new all-time high (ATH). All-time highs are frequently mentioned in different sorts of investments.
Alternative coins, often known as altcoins, are cryptocurrency coins and tokens that are not Bitcoin. Some of these coins have gained popularity, such as Ethereum and Tether, but Bitcoin remains the most valuable cryptocurrency by market capitalization (the total value of the circulating supply).
More and more crypto slang terms are coming up and it is advisable to earn them. Cryptocurrency enthusiasts are developing new financial assets and systems that aren’t based on traditional currencies. They’re also coining new words, acronyms, and phrases for their community.