a guide to cryptocurrency terms

Feeling left out of the crypto conversation? You are not alone! “HODL”, “FOMO”, “to the moon” and many more crypto slang have become so common that they can be called a new language in the crypto world.

In this guide, we will help you decipher the exciting world of crypto slang terms, and by the end of this article, you will be able to “monkey” in the world of crypto lingo.

Why is crypto slang important?

Why feel the need to create new words when you can easily use the traditional trading language of the old financial markets? The cryptocurrency market is quite new because it all started with Bitcoin in 2009 and now the cryptocurrency market has evolved with thousands of cryptocurrencies available for trading.

Unlike traditional financial markets, where the average age of an investor is mid-40s, in the crypto world the average age is in the teens and especially late 20s and 30s. With such a young, tech-savvy generation, any new crypto project using “cool” language is bound to attract more users who already have an affinity for meme culture and fun terms that describe their trade.

If you’re a crypto investor, you know that the terms “whale” and “HODL” mean something completely different in crypto than they do in traditional finance. Slang terms used in crypto are a window of opportunity into true crypto culture, 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 explanations:

Altcoin: Cryptocurrencies other than Bitcoin. There have been many waves of altcoins following Bitcoin since its inception in 2009.

ATH: All-time high. The time when a cryptocurrency reaches its highest value ever.

HODLing: A typo was made while trying to write hold and it went viral on the internet, meaning holding a particular coin for the long term.

Bear Run/Bear Run: When the price of a cryptocurrency tends to fall and sell-offs occur. If you think the value will decrease over time, bearish is your view.

Bull Run/Bull Run: When the price of a cryptocurrency is expected to increase, we call this sentiment bullish. We also have Permabulls who are permanently bullish on Bitcoin or crypto. Similarly, we have Permabears.

Shills: When someone has a vested interest in promoting a cryptocurrency.

Whale: An individual or group that purchases a large amount of cryptocurrency or sells a significant amount of cryptocurrency that significantly changes the market price. Traders who can move markets due to their large assets are known as Whales.

FUD: Fear, uncertainty and doubt. When someone has doubts about a particular cryptocurrency and shares their criticism or lies, this creates fear, uncertainty and doubt.

Rekt: Ruined. Losing a lot of money by making a bad trade.

Bagholder: Simply means holding a particular cryptocurrency after the price drops and others continue 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 push the price up and then selling the cryptocurrency at the peak when others will tend to buy.

Shitcoin: Coins that are likely to be fraudulent or not worth investing in the long term are called ‘shitcoins’.

Lambo: Lamborghini. A term used by investors that indicates the high returns of certain cryptocurrencies that are likely to be obtained in the future.

DCA: Dollar Cost Averaging. This means spreading out your investments and guarding against losses by buying little by little based on price changes, rather than spreading out your investments and buying a particular cryptocurrency all at once.

Halving: It refers to the reduction of mining rewards that causes the supply to increase at a decreasing rate. For example, for PoW blockchains such as Bitcoin, Litecoin, and Ethereum, the mining reward decreases approximately every four years.

Monkey: To “monkey” means to impulsively buy a coin (most often a new one) without due diligence.

Bitcoin Maximalist: Refers to investors who believe that Bitcoin is the only true cryptocurrency with real value and importance.

BTD: Short for “Buy the Dip,” BTD is the practice of waiting for crypto assets to fall and then buying them in the hope that they will rise later.

Diamond Hands: A trader with “diamond hands” buys and holds a cryptocurrency over the long term in the hope that the asset will withstand market volatility and eventually appreciate in value.

Paper Hands/Weak Hands: Unlike ‘diamond hands’, someone with ‘weak hands’ or ‘paper hands’ cannot handle market volatility and will quickly sell cryptocurrencies at the first sign of weakness in the market.

DYOR: “Do Your Own Research” is a slogan that reminds investors 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 investor feels when the market becomes volatile and begins making big moves in a short period of time.

LFG: Stands for “Let’s Go”, used to indicate enthusiasm and excitement in market conditions, cryptocurrency projects, or certain narratives in crypto.

Rug Pull: A scam in the crypto world where project developers convince crypto investors to invest in their project and then run away, leaving those investors with nothing.

Advanced crypto slang

Some cryptocurrency slang is quite technical, but it can still be important to understand it. 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 to ensure the robustness of the network. Miners spend energy and therefore prove their work by securing the blockchain and validating transactions. The PoW change is also something you’ve heard about; this could be a way to either encourage GPU-only mining or discourage miner concentration.

KYC: Know Your Customer refers to the situation where you check a person’s identity and take precautions to ensure that the money you receive is clean and not involved in laundering.

TA: Technical analysis. It refers to the use of price movement on the chart to determine trading positions. To learn technical analysis, see BTCManager’s trading strategies page.

Cryptojacking: In the crypto mining world, a type of cybercrime where a person uses another person’s computing power to mine cryptocurrency without permission.

Cryptosis: A term used to describe the passion for learning and discussing all things cryptocurrency.

Flippening: Refers to the scenario in which Bitcoin (the leader of all cryptocurrencies) will be overtaken by Ethereum in terms of market cap.

Vaporware: A cryptocurrency project that has been officially announced but may never actually materialize.

No-coiner: A person who does not believe in the authenticity of crypto or any digital asset in terms of its value.

Crypto slang on social media and forums

The crypto world works a little differently on each social media platform; X (formerly Twitter) is the center of all crypto slang.

The term “GM” (Good Morning) on ​​X is often used by influencers and crypto projects to start the day. Other terms used by many projects include “NGMI” (We Will Not) which is used to mock pessimistic views on crypto, and its opposite, “WAGMI” (We Will), which is used to give an encouraging outlook on cryptocurrency. crypto community.

On Telegram and Reddit, terms like purse holders (holding coins through profit and loss) and shilling (marketing cryptocurrency) are common discussion topics.

How can you keep up with the new crypto slang?

It is important to stay up to date with the latest crypto jargon as terms used in the crypto world even 2 years ago are not very popular today.

To stay up to date on crypto slang, follow groups on Telegram and Reddit and follow the right people on X; because this is where new terms are first created and then go viral.

Additionally, trending phrases, along with their definitions and usage examples, are regularly shared by cryptocurrency influencers and content creators on YouTube and TikTok.

Another recommendation is to bookmark well-known crypto forums and glossaries such as CoinMarketCap and Coingecko, as they frequently add new terms. Engaging with these communities not only teaches you new vocabulary but also gives you insights into the mood of the market.

How does crypto slang evolve with market trends?

The state of the market shows which slang has become popular and widely used. For example, BTD (Buy the Bottom) will trend in a bear market, while a slang like ATH (All Time High) will trend in a bull market.

Additionally, as NFTs have gained popularity, terms such as “mining” (creating a new NFT) and “gas fees” (transaction costs on the Ethereum network) have also become widely used. The proliferation of slang terms such as “bag holder” and “weak hands” in markets in crisis indicates a more cautious attitude. Phrases like “moon” and “Lambo,” which refer to the wealth that cryptocurrency can provide, are gaining popularity again during bull markets.

The crypto language is also changing with technology. The terminology surrounding blockchain is evolving along with new blockchain platforms and ideas. By following these words, you can follow the developments in the market and make more informed decisions.