Reading about cryptocurrencies might be overwhelming. The vocabulary of cryptocurrencies might appear to be its own language, ranging from abbreviations and technical phrases to cryptocurrency slang.
You might feel a communication gap while comprehending a discussion because it is full of cryptocurrency slang.
Since the emergence of cryptocurrencies, specialists have developed new ways to explain and contextualize their functioning, which later became cryptocurrency slang.
This post will walk you through 20 cryptocurrency slang that every enthusiast should be familiar with.
Inside The Article
20 Popular Crypto Slang Terms
1. Ape
Ape is a cryptocurrency slang used for a person who buys a token as soon as it has been launched. Ape is generally used for someone who takes action without conducting sound research.
2. Bagholder
A person is labeled Bagholder if they are remarkably optimistic about their asset despite a gradual decrease in its value.
They might hold their position even when the value of the asset crashes to zero. It is their sheer optimism or delusion that the price will bounce back.
3. Bitcoin Maximalist
The term maximalist has a similar ring to extremist. Bitcoin Maximalists regard Bitcoin as the only cryptocurrency of value or worth supporting.
4. BTD
BTD is an acronym for ‘buy the dip’; it means to benefit from the opportunity of locking into more crypto at a minimum price.
This phrase is used to promote selling an asset at a low market price. Many people buy this idea because they share the common faith that the price will surely bounce back and might even be worth it.
5. Cryptojacking
Cryptojacking, often known as “malware cryptocurrency mining,” became a major concern during the 2017 cryptocurrency boom, when the value of Bitcoin and other digital currencies skyrocketed.
Cryptojacking is a form of cybercrime in which a hacker illegally generates cryptocurrencies on behalf of an unaware victim.
6. Cryptosis
Cryptosis, much like osmosis, describes a person who seeks to absorb every last piece of information on crypto available in the world and won’t stop talking about it.
7. Diamond Hands and Paper Hands
Diamond hands and Paper hands terms are used for traders who have a special appetite for risk.
- A trader with diamond hands will never give up on their tokens. For them, the market situation or volatility does not matter much. This term denotes traders with a high tolerance for risk. Only after the token has attained its full potential and the trader’s expectations is it sold.
- A trader with paper hands, however, will sell their stake as soon as issues arise. In a nutshell, they sell when they panic. Traders with paper hands frequently do not do well for high-volatility tokens and are likely to withdraw positions prematurely to avoid losses.
8. DYOR
DYOR is a simple acronym for ‘Do your own research In the world of crypto, it is repeatedly reminded to the investor. It is always wise to know what you are going to invest in.
9. Flippening/Flapping
In 2017, the term flippening was used to denote a possible flip in the biggest cryptocurrency.
It refers to a hypothetical situation wherein Ethereum outshines Bitcoins as the dominant currency by total market capitalization.
10. FOMO
It is also a common slang in real life for ‘fear of missing out. In the world of crypto, FOMO refers to a trader who has a fear of missing out on a lucrative opportunity.
This fear may cause people to act recklessly and rely on feeling rather than rational thinking.
FOMO has a significant effect on bitcoin values and greatly increases market volatility.
11. FUD
FUD, or “fear, uncertainty, and doubt”, is a business and advertising phrase.
It is a psychological technique intended to persuade individuals to have a poor opinion of anything, such as a business, industry, or organization, usually by spreading disinformation or instilling fear.
12. HODL
The acronym HODL stands for ‘hold on for dear life,’ which came from a play on the words ‘hold,’ which has lingered around and nowadays means ‘keeping.’
It is a common cryptocurrency slang that means buy-and-hold strategy. Therefore, a cryptocurrency trader who purchases a currency and has no immediate plans to sell it is referred to as a currency’s “holder.”
A holder’s purpose is to wait out the market’s rise and fall with a view to long-term profits. Short-term market fluctuations will not persuade a hodler, nor will the entire market collapse or become extremely volatile.
Instead, hodlers will keep their shares regardless of price because they believe in the long-term potential of cryptocurrency.
13.NGMI
NGMI is an abbreviation for the phrase not going to make it. It is widely used in cryptocurrency as a warning of impending loss due to poor judgments.
For example, if someone sells at the bottom, ignoring all financial indicators suggests that the worth of a currency is increasing.
14. Pump and Dump
Pump-and-dump schemes are a type of fraud, including increasing the market price of an asset deliberately by misleading or deceptive reliable information.
Usually, a small group of individuals will acquire a large quantity of a specific asset at a low price instantaneously, pushing up demand and price.
15. Rekt
When a trader suffers a big financial loss as a result of a poor deal or investment, they are referred to as “rekt,” which is cryptocurrency slang for “wrecked.”
16. Rug/Rug Pull
Rug pulls are a specific kind of cryptocurrency fraud wherein a design team renounces a project before it’s finished, depleting all resources and leaving supporters with no money.
The phrase “pulling the rug out from beneath someone” inspired the term for this type of fraud, and con artists often refer to their victims as “getting rugged.”
17. Sats
Sats is an abbreviation for Satoshis, the simplest form of Bitcoins, named just after the coin’s creator, Satoshi Nakamoto.
Cryptocurrencies can also split into small parts, very much like traditional money. For this reason, it’s good to think about Sats as pennies to a dollar.
Unlike dollars, which are divided into 100 cents, bitcoins are divided into 100 million Satoshis.
18. Vaporware
The term “vaporware” describes a cryptocurrency or technology development that is still in the conceptual stage and has yet to produce a usable outcome.
A vaporware project could be pushed for months or even decades before it is actually publicly disclosed. In other circumstances, it might never ever be created.
19. Weak Hands
Someone who sells his cryptocurrencies at the first indication of declining prices is known as a weak hand.
Traders with weak hands often lack confidence in their ideas and are readily frightened by unpleasant information or an asset’s price movement.
20. Whale
A whale is an individual or institution that holds great shares of a particular cryptocurrency.
The number of currencies or tokens possessed must be substantial to have an impact on pricing.
If holders choose to purchase or sell, despite the absence of a formal criterion for being deemed a whale. In essence, they have enough money to control the market.
Final Thoughts
All examples in this post are provided solely for educational purposes. You should not interpret any of this data or other content as legal, tax, economic, monetary, or some other advice.
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