A word for a context is quite significant as it can convey the right meaning of a story. Termed jargons or slangs are the contextual words or phrases that appropriately match the idea of the content.
Cryptocurrency is also one such category where many words or phrases are used to express the crypto stories. Some of the crypto slang words are also applicable outside the crypto context.
In this article, let’s visit the twenty most popular cryptocurrency slangs that are widely used by crypto traders and investors.
1. FOMO
“Fear of Missing Out” or FOMO is a psychological situation when an investor may feel a mix of fear and panic for not getting a chance to gain profit that the other investors gained from the market. To cite an example, FOMO usually happens when a market goes bullish. Here, investors get into a discussion on whether or not to buy the surging market expecting that they will trade with the remaining coins.
2. FUD
Fear, Uncertainty, and Doubt (FUD) is another psychological expression in the crypto realm. This is when certain people or groups engage in creating and spreading panic and uncertainties regarding a cryptocurrency, to prevent people from buying that specific coin.
3. HODL
The phrase Hold On for Dear Life (HODL) started as a typo of “hold”, but later it evolved as crypto slang. The term was established in 2013 when Bitcoin plummeted and investors started panic-selling it. However, since the coin had the potential to rise back to green, an exasperated investor, in an attempt to stop others from selling it, drunk-typed “hodl” instead of “hold” in an online chat forum. Currently, hodl denotes holding a coin despite its price fluctuations, rather than panic-selling it.
4. Whale
A crypto investor or a firm holding a large number of cryptocurrencies is known as a whale. As the name suggests, whales buy huge amounts of coins, and they are mostly respected and feared by other investors because within single trade, whales can fluctuate the price of a coin in the market.
5. Sats
“Sats” is the short form for Satoshis and are the smallest unit of Bitcoin. One Sats is precisely 0.00000001 BTC.
6. No Coiner
“No Coiner” means exactly what it sounds like — no cryptos in hand. This phrase depicts a person who is very pessimistic about cryptocurrencies and believes that there is no use in having them.
7. Bear
“Bear” is a catchphrase used in the crypto market to refer to a person who believes that the price of a coin will plunge steeply, making a bearish trend. However, the term is not unique to the crypto realm, users of the stock market also use this buzzword.
8. Bull
What happens when a price of a coin runs like a bull? Definitely, the price hikes, and that is known as the “Bullish” trend and a person who is optimistic about the price surge is a “Bull”.
9. Bagholder
As the name suggests, Bagholder is someone who carries a bag for a long time. Bagholder in the crypto industry is a person who buys a coin at a high price and holds it for a long time without selling it until the market moves in favor of that person. Sometimes, a bag holder even misses the chance to sell the crypto.
10. Cryptosis
“Cryptosis” is like an obsession, where a person has an infinite thirst for acquiring cryptocurrency knowledge. It refers to gaining more information about crypto, by spending more time exploring every crypto term or context.
11. Vaporware
Have you ever noticed a product launched by a company, which is not then developed and remains in the same position without any progress? This is known as vaporware. Likewise, in cryptocurrency, vaporware is a crypto project that is never developed, probably intending to establish a brand with its competitors.
12. Rekt
The origin of “rekt” is from the word “wrecked” which means destruction or ruin of something. In the crypto market, rekt is a commonly used word to signify a situation when a trader loses a huge amount of money, mostly in a recent market crash.
13. Shill
Shilling happens when an underrated crypto project or cryptocurrency is propagated with false statements and predictions and thereby gains more investors and users for it. Usually, cryptocurrency founders pay for influencers or propagandists who spread out good words about a particular coin.
14. Pump and Dump
When the market is manipulated and the price of a coin surges based on false statements, it is known as a “pump” and when the coin is sold before the price downsizes, it is termed a “dump”. However, this scheme is illegal as investors look into increasing the price of a coin and then selling their holdings before the price goes down. However, pump and dump isn’t applicable for cryptocurrency alone but is also used in stock markets.
15. To the Moon
The phrase “to the moon” is also used outside the crypto context, meaning something is going to succeed or a successful gain is likely to happen soon. When a coin is considered to be “to the moon,” it depicts that the price of the coin is surging or will surge with a good hike.
16. Paper Hands
Paper hands are the investors who quickly sell their assets and quit the market when a risk factor comes in. These people are less tolerant to risk factors and usually do not wait for a better chance.
17. KYC
“Know Your Customer” is a commonly used term in all business fields. KYC refers to identity verification to make transactions and other dealings in a company. Several crypto websites provide a KYC option, where users have to fill in their general personal details and the company can ensure if a person is suitable for trade or investment.
18. Maximalist
A maximalist is a person who gains the maximum amount of resources or products, which may be beyond his basic needs. A cryptocurrency maximalist, usually termed a “Bitcoin maximalist”, is a trader who believes that a coin will transform the whole crypto market, even if a scam or fraud hits the market.
19. WAGMI
“We are all gonna make it” or WAGMI is another crypto phrase used by the crypto community to build hope and confidence in market situations. This lingo conveys the optimistic nature of a person holding a cryptocurrency.
20. Lambo
Only the rich people buy the luxurious Lamborghini cars, and the catchphrase “Lambo” is related to cryptocurrency because sometimes the rich crypto traders buy Lamborghini from the money they gained from their investments. In short, this phrase refers to when cryptocurrency holders will become rich enough to afford a Lamborghini.
The crypto market frequently undergoes several changes and new slang words can be expected from it. In short, new catchphrases can also be evolved when a new market situation arises.
Learn More About Crypto, Blockchain, & Web3:
- What Is Cryptocurrency? A Complete Beginner’s Guide
- What Is a Cryptocurrency Exchange? How Does It Work?
- What Is an Initial Coin Offering (ICO): A Complete Guide
- How Cryptocurrencies Are Linked to Inflation and Deflation
- How Does Consensus Algorithm Work in Blockchain Network?
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