“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 crypto community, 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 have also sorted them in alphabetical order to help sort through them easily.
We’ll start with the more popular ones then examine a few other less common crypto slangs. Let’s get right into it.
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 holding a coin indefinitely even when its value is crashing, always expecting further growth in the future.
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 with the aim to propagate doubt and suspicions about its profitability or long-term sustainability.
For example, in the early 2010’s 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.
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 refers to free distribution of tokens to new users for signing up. It is often used to boost the popularity of a completely new coin.
This cryptocurrency slang refers to someone who is holding on to a worthless crypto coin that has plummeted in value.
This is someone who is totally obsessed by Bitcoin (BTC) – he/she sees no crypto-coin but Bitcoin as a viable investment.
Someone who does not own any unit of Bitcoin. Typically, No-coiners people who regrettably missed their opportunity to buy Bitcoin at low prices because they fell for the FUD and thought it was a scam.
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.
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.
Shilling is a kind of marketing ploy where a person tries to promote a specific coin or blockchain project.
A huge investor who owns up to five percent 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.
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!