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Do you feel left out of crypto conversations? You are not alone! crypto slang like “HODL”, “FOMO”, “to the moon” and many others have become so common that they can be considered 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 will be able to “imitate” the world of crypto slang.
Why is crypto jargon important?
Why feel the need to create new words when you can simply use the conventional trading language of legacy financial markets? Well, the cryptocurrency market is quite new as 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 a trader is around 40 years old, in the world of cryptocurrencies, teenagers and especially those in their 20s and 30s are the average age. With such a young and tech-savvy generation, any new crypto project that uses “cool” slang is sure to attract more users who already have an affinity for meme culture and fun terms to describe their operations.
If you are a cryptocurrency investor, you will know that the terms “whale” and “HODL” convey a completely different meaning in crypto than they do in traditional finance. Slang terms used in cryptocurrencies are a window of opportunity into real cryptocurrency culture, where memes and unique terms are used as a badge of honor for communication between traders.
Common crypto Jargon Terms and Their Meanings
Below 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 creation in 2009.
ATH: Historical maximum. When a cryptocurrency has reached its highest value to date.
HODLing: A typo was made when trying to spell holding and it went viral on the internet, so it simply means holding a specific currency for the long term.
Bearish/bearish run: When the price of a cryptocurrency tends to fall and experience massive sales. Your sentiment is bearish if you believe the value will decrease over time.
Bullish/bullish run: When the price of a cryptocurrency is expected to increase, we call this sentiment bullish. Additionally, we have Permabulls, those who are bullish on bitcoin or cryptocurrencies permanently. Likewise, we also have Permabears.
Accomplices: When someone has a personal interest in promoting a cryptocurrency.
Whale: An individual or group that participates in the purchase of a large sum of cryptocurrency or the sale of a large sum of cryptocurrency that is significant enough to significantly move the market price. Traders who can move markets thanks to 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.
Straight: Destroyed. Losing a lot of money by making a bad trade.
Stalker: It simply means holding on to a particular cryptocurrency after the price has fallen and others continue to sell their coins.
Moon: It refers to the future expectation that a cryptocurrency will be valued at an astronomically high price.
Pump and Discharge (P&D): It refers to a situation where traders band together and collude, for example, buying a particular cryptocurrency to increase the price and then selling their cryptocurrency at its peak while others are tempted to buy.
Shit coin: Coins that are likely to be scams or not worth investing in in the long term would be called “shitcoins.”
Lamb: Lamborghini. A term used by traders that indicates the high returns certain cryptocurrencies are likely to generate in the future.
DCA: Dollar cost averaging. This refers to spreading your investments and not buying a particular cryptocurrency all at once, but buying it little by little depending on price changes to spread your costs and take precautions against losses.
Reduce by half: It refers to the reduction of mining rewards that ensures that the supply increases at a decreasing rate. For example, for PoW blockchains like bitcoin, Litecoin, and ethereum, there is a reduction in mining reward approximately every four years.
Bun: “Imitate” means impulsively buying a token, often a new one, without doing due diligence.
bitcoin Maximalist: It refers to investors who only believe that bitcoin is a real cryptocurrency that has some real value and importance.
BTD: BTD, short for “Buy the Dip,” is the practice of waiting for cryptoassets to dip and then buying, in the hopes that they will pump up later.
Diamond hands: A “diamond hands” trader buys and holds a cryptocurrency for the long term in the hope that the asset will withstand market volatility and eventually increase in value.
Paper Hands/Weak Hands: Unlike “diamond hands,” someone with “weak hands” or “paper hands” cannot withstand 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 cryptocurrency trader feels when the market becomes volatile and begins to make large moves in a short period of time.
GRS: It stands for “Let's F—ing Go,” and is used to indicate euphoria and excitement about market conditions, cryptocurrency projects, or specific narratives in crypto.
Carpet puller: A scam in the cryptocurrency world where project developers flee after luring cryptocurrency investors to invest in their project, leaving these investors with nothing.
Advanced crypto Slang
Some cryptocurrency jargon is quite technical, but it can still be important to understand. Here are some of the important ones:
prisoner of war: Proof of work, the consensus mechanism behind bitcoin and many altcoins, ensures that the process of mining (or minting new cryptocurrencies) is difficult and ensures the robustness of the network. Miners burn energy and therefore demonstrate their work by securing the blockchain and confirming transactions. There is also talk of the PoW change, which could be a way to incentivize GPU-only mining or discourage concentration of miners.
KYC: Know Your Customer refers to a situation where you have verified a person's identity and taken precautions so that the money you are receiving is clean and not associated with laundering.
FACING: Technical analysis. It refers to the use of price action on the chart to determine trading positions. See the BTCManager trading strategies page for technical analysis.
Cryptojacking: A type of cybercrime in the world of cryptomining in which one person uses another person's computing power to mine cryptocurrency without their permission.
Cryptosis: A term used to describe the passion for learning and discussing everything about cryptocurrencies.
Flip: It refers to a scenario in which bitcoin (the leader of all cryptocurrencies) will be surpassed by ethereum in terms of market capitalization.
Steam items: A cryptocurrency project that is officially announced but may never happen in reality.
Without coins: A person who does not believe in the reality of cryptocurrencies or any digital asset in terms of its value.
crypto slang on social networks and forums
The world of cryptocurrencies operates a little differently on each social media platform, with x (formerly known as twitter) being the center of all the crypto jargon.
On x, influencers and crypto projects frequently use the term ''GM'' (Good morning) to start the day. Other terms used by many projects include “NGMI” (Not Gonna Make It) to mock pessimistic views on cryptocurrencies, and the opposite “WAGMI” (We're Gonna Make It) is used to give an encouraging perspective to the community. cryptographic.
On Telegram and Reddit, terms like bagholders (holding a coin through profits and losses) and shilling (trading a cryptocurrency) are common topics of discussion.
How to keep up with the new crypto jargon?
It is important to stay up to date with the latest crypto jargon as terms used even two years ago in the crypto world are not popular today.
To stay up to date on crypto lingo, keep up with the groups on Telegram and Reddit, and follow the right people on x, as that's where new terms are first created and then go viral.
Additionally, cryptocurrency influencers and content producers regularly share trending phrases on YouTube and TikTok, along with definitions and usage examples.
Another tip is to bookmark well-known crypto forums and glossaries such as CoinMarketCap and Coingeckoas they frequently add new terms. Interacting with these communities gives you insight into the mood of the market, as well as teaching you new vocabulary.
How is crypto jargon evolving with market trends?
The market condition indicates what jargon has become popular and is widely used. For example, BTD (Buy The Dip) will trend in a bear market, while slang like ATH (All Time High) will trend in a bull market.
Additionally, terms like “minting” (creation of a new nft) and “gas fees” (transaction fees on the ethereum network), for example, were widely used when nfts gained popularity. Slang terms like “bag carrier” and “weak hands” are becoming common in downturn markets, indicating a more cautious attitude. Phrases like “moon” and “Lambo,” which allude to the wealth that cryptocurrencies could provide, regain popularity during bull markets.
crypto jargon also changes with technology. The terminology surrounding blockchain is evolving along with new blockchain platforms and ideas. You can stay on top of market developments and make more informed decisions by staying up to date with these words.
