23 Cryptocurrency Slang Terms to Know Before You Invest

Investors that HODL are said to have diamond hands, meaning they are not prepared to sell their holdings for any price. This probably originated during the Gamestop short squeeze in early 2021 when retail traders caused a price surge of a seemingly low-value stock. Sometimes, the phrase NGMI will be directed towards NFT projects or collections others in the community feel are scammy or have low utility.

In the cryptocurrency space, FUD relates to negative news about cryptocurrencies like government regulation, opponents speaking out about crypto, or falling prices . Crypto advocates often argue that traditional finance and the mainstream media try to spread FUD about crypto to complicate its adoption. This means that the language of the crypto and NFT community is evolving quickly, which is why it’s more important than ever to keep up with the times as crypto slang grows and changes over time. For crypto and NFT natives, using crypto slang is an everyday thing– but for those who are newer to the industry, it can be incredibly confusing. In this article, we’ll break down some of the most popular crypto and NFT slang terms to clarify the somewhat confusing world of crypto slang. In addition to dividing into the meanings of individual slang terms, we’ll also provide real-world examples.

It implies that the price is so high, it reaches the surface of the moon. Bitcoiners have even started to use “mooning” instead of “increasing” when referring to Bitcoin prices. Cryptocurrency slang is a collection of phrases used in the Bitcoin community that are not always based on official terms. From HODL to FOMO to FUD, there’s a lot to know before diving into the crypto world.

POS algorithms are often seen as positive, as they help to keep the network secure and running smoothly. It’s important to be aware of POW when considering investing in Bitcoin, as it could impact the value of your investment. It’s important to be aware of gas fees when considering investing in Ethereum, as they can impact the amount of money you make from a transaction. It’s important to be aware of forks when considering investing in a particular coin, as it could impact the value of your investment.

Insider Trading

Many bitcoin holders may scoff at you for not relishing its potential. While it may be used for everyone who does not have a bitcoin, this term mainly targets skeptics and nonbelievers. When a HODLer is mocked by another HODLer for not having a massive value in Bitcoin yet, they are being bitshamed. One of the most famous examples of bitshaming involved Andreas Antonopoulos, a Bitcoin lecturer. Antonopoulos was shamed when he admitted not HODLing his bitcoin because he needed money to cover his rent and other bills.

He’s also built and run a https://forex-world.net/ marketing agency, focusing on content marketing, copywriting, and SEO, since 2016. This fact is because of so much activity from mining Bitcoin from traders in China. This term originated from “Flibbr,” a Bitcoin trader who used the phrase to mock President Donald Trump. These are just a few of the many terms that you’ll come across when reading about cryptocurrency. The goal of web three is to create a more open, secure, and accessible internet.

But, a Degen can also be good-natured and help crypto communities grow by offering fun online collaborative attractions. The term Degen dates back to the early days of the legendary stock-trading Subreddit r/WallStreetBets, from which the crypto world had borrowed one of its most beloved slangs. FUD stands for Fear, Uncertainty, Doubt, and is used in situations where either a project or financial outcome possibility results in negative sentiment and actions. FUD is fundamentally a feeling which can result in unfortunate trading decisions. The verb Shill stands for the process of promoting something irresponsibly. Cryptocurrencies are volatile, and the increase in new on-chain financial instruments has resulted in broader risk for many newcomers.

An A-Z Guide to the “Ethereum Killer” Called Avalanche

The term Diamond Hands stands for more or less the same thing. Melon is a term that refers to bitcoin itself, the digital currency. This fact comes from a song called “Fruit Salad” by the South Korean girl group named Wassup. As a trader, their goal is to make money by selling bitcoin for less than it is at the moment or trading with vast gains of more than 10% over 8 hours.

DeFi already lets you do most things offered by traditional banks and centralized financial institutions, with new products and transactions available each day. It’s a place to organize your crypto portfolio and send and receive currency. Some wallets comes with a private key that allows you to access the wallet’s contents, while others are managed by third parties.

These should typically be written down on paper in case of data or software loss. This way, the user can download the same wallet and recover their funds using their seed phrase. Unlike a private key, a public key is designed to be disclosed to other people so they can send you cryptocurrency. It’s linked to the holder’s private key, which is needed to “unlock” the public key. Sometimes a Bitcoin address is used for transactions instead, since they are essentially compressed versions of the public key.

Cryptocurrencies & Blockchain – Here to Stay?

Airdrop is a method for distributing cryptocurrencies to many people at the same time. New projects may airdrop and give away their tokens to raise awareness and interest. Some might require you to complete certain tasks, such as talking about the project on social media, before they send the token to your crypto wallet.

• LFG can also indicate that members of the crypto community should make a move in a certain direction, such as buying a particular token or NFT due to its recent price increase.
• It originated on Reddit, but it’s also popular on Twitter, in crypto, and other communities.
• GM can also be used when a new member of the NFT or crypto community wants to introduce themselves on a platform like Twitter, Discord, or Telegram.

For example, if someone posts a chart of a certain cryptocurrency’s trading patterns, someone else might respond with “IYKYK”. This would indicate that the original poster knows something that others don’t, but only if they have been keeping up with the industry. Some members of the crypto industry have found a way to make the meme come true by buying of a Lamborghini! For example, a popular crypto blogger Ben Armstrong has Lambo. Investing strategy in which an investor accumulates satoshis, fractions of a Bitcoin, to increase a Bitcoin position.

Lightning Network

Sometimes, a pleb can also be a knowledgeable crypto investor that richer investors take advantage of. A shill is someone paid to promote a cryptocurrency and with a monetary interest in its success. Most shitcoins rely on shills to drive FOMO and create an impression of being more valuable than they are. Shills generally have large audiences on social media they acquired either through paid traffic or cooperating with other shills.

Rekt is the Crypto slang we use when our actions lead to massive failures or horrific disappointments while playing around in the crypto markets. Fudders are bitcoin traders who believe bitcoin prices will fall. In other words, they will buy bitcoin, so its value decreases.

TokenSets (Set Protocol)

They can also be used to distribute tokens to people who are interested in using a particular decentralised application. Airdrops are often used as a marketing tool to generate hype and build up the community around a particular project. FOMO is a term used to describe the feeling of anxiety that you get when you think you’re missing out on something.

No-coiner is a derogatory term for someone who is highly critical of crypto and believes that cryptocurrencies have little to no value. No-coiners feel that crypto is guaranteed to fail, and consequently do not hold Bitcoin , Ethereum , or any other digital currency in their portfolio. The term flippening was conceived in 2017 to describe a potential flip in the largest cryptocurrency. Specifically, it refers to a theoretical event where Ethereum overtakes Bitcoin as the leading cryptocurrency in terms of total market capitalisation .

This may happen because the concept is being rethought or the product is being redesigned. A no-coiner refers to someone who owns no crypto coins, is generally mistrustful of cryptocurrencies, or is openly critical of the economics of cryptocurrencies. Some camps also accuse “no-coiners” of actively hoping that the cryptocurrency market will crash, leaving those who own coins with losses.

Bitcoin maximalists often see Bitcoin as a store of value and a hedge against traditional financial systems and fiat currency. They tend to advocate for Bitcoin over other cryptocurrencies and often criticize other crypto assets, and blockchain projects as well. 0x Protocol 0x is an Ethereum-based open-source platform for exchanging cryptocurrencies. Fren is a term used to describe an active and enthusiastic participant of the cryptocurrency space.

Someone who is shilling for a coin—sometimes called pumping—might be an investor or could be getting paid to promote the coin, which is why shilling has a negative connotation. Moon and mooning refer to when crypto’s price is rapidly increasing, or skyrocketing. An investor might want to know when their coins are going “to the moon.”

It’s important to note that you should never give your private key to anyone, as this would allow them to access your funds. Despite this, CEXs can be regulated , and have obligations to their users to maintain security and helping you retrieve lost crypto. Maximalists often have a lot of faith in the future of their chosen cryptocurrency and believe that it will become the dominant coin in its field. They believe every other coin other than their chosen one will eventually die out. This term is often used as a way of saying that you believe the price will increase in the future.