“Barry used to be a no-coiner, but he finally got over his initial FUD, and bought himself millions of Sats. Now, he has become a whale HOLD-ing to reach for the moon.” Did you just blank out halfway through that sentence? Well, that means you are a crypto newbie. And you are not alone. Millions of people around the world only associate the words whales, bull and bear with the animal kingdom. But, in the world of cryptocurrency, traders and investors communicate with one another using different cryptocurrency slang.
These crypto slang terms may sound outlandish or strange sometimes, but once you get the hang of it, you’ll feel comfortable in no time.
In this article, we have gathered a comprehensive list of some popular crypto slang terms that will help you navigate the world of cryptocurrencies like a pro.
We’ll start with the more popular ones then examine a few other less common crypto slangs. Let’s get right into it.
Here’s a list of every common slang in the crypto world, explained:
What does HODL Mean?
The Hodl definition is quite straightforward. It is a misspelling of the word “Hold” which incidentally became popular in the crypto community. HODL first gained prominence in 2013 on a Bitcointalk forum. A user made a typo error in the word hold and wrote HODL.
Today, Hodl has become a cryptocurrency slang. It means to hold on for dear life even when the coin value is crashing, always expecting further growth in the future.
Whale
A huge investor who owns up to five per cent or more of the total circulating supply of any cryptocurrency coin.
Whales wield great influence over the cryptocurrency ecosystem. If they unload their coin, they can cause a huge price dip. Likewise, if they invest in a Proof of Stake platform, they can earn a significant additional amount of coin to consolidate their influence.
Pump and Dump
Pump happens when a group of people or a crypto whale gather attention around a coin causing its price to increase; dump happens when the coin’s price crashes due to getting “dumped”. Pump and dump is another tactic used by groups and whales to manipulate the market for their own good.
One of the most recent examples of this scheme happened with the most well known Memecoin “Dogecoin”.
What does FUD Mean?
Many newbies keep asking the question, what does FUD mean in crypto? FUD means Fear Uncertainty and Doubt. It is a psychological manipulation tactic used in marketing. It involves misrepresenting facts or presenting information about something to propagate doubt and suspicions about its profitability or long-term sustainability.
For example, in the early 2010s, many traditional finance enthusiasts used FUD to discourage people from investing in crypto.
What does FOMO Stand For?
FOMO in crypto simply means Fear of Missing Out. It refers to a phenomenon where a person is forced to buy a coin, or participate in a seemingly profitable action. Not because he/she feels that it is the best decision at that moment, but only because many other people are.
When a lot of people are buying a coin (or selling), it becomes tempting for others to join in without evaluating the reasons behind it. People bow to FOMO because they are afraid of being left behind.
ADDY
This is another name for Public key. Your public key is a cryptocurrency address that other traders can use to send you crypto funds.
e.g. “Send me your ADDY “is similar to someone asking for your bank account details.
Airdrop
AirDrop refers to the free distribution of tokens to new users for signing up. It is often used to boost the popularity of a completely new coin.
Bagholder
This cryptocurrency slang refers to someone who is holding on to a worthless crypto coin that has plummeted in value.
Bitcoin Maximalist
This is someone totally obsessed with Bitcoin (BTC) – he/she sees no crypto-coin but Bitcoin as a viable investment.
No-coiner
Someone who does not own any unit of Bitcoin. Typically, No-coiners are people who regrettably missed their opportunity to buy Bitcoin at low prices because they fell for the FUD and thought it was a scam.
Rekt
What does Rekt mean? It is derived from the word “Wrecked”. To get Rekt means to sell your crypto far too soon or too late. And as a result, you suffer significant losses or miss out on making huge profits.
Sats
This is the short form of Satoshis, the smallest unit of (BTC) Bitcoin.
1 Satoshi is written as 0.00000001 BTC. Or simply put, hundredth millionth BTC.
Shill
Shilling is a kind of marketing ploy where a person tries to promote a specific coin or blockchain project.
Conclusion
If you are new to the crypto world, getting familiar with these crypto slang terms will help you a lot in your crypto investment journey. Always remember that cryptocurrencies are unregulated and highly volatile.
To avoid becoming a Bagholder, you need to beware of various shilling plots. Lastly, before you invest in any crypto coin, ensure that you DYOR– Do your own research!
Also read: Term Clarity: Bitcoin, Cryptocurrency, Shitcoin. What’s the difference?