The financial market is a dynamic environment that goes through ups and downs in cycles. The…
Crypto slang is an essential part of every crypto investor’s learning journey.
Usually, these crypto slangs are acronyms that have specific meanings. They are used to describe certain aspects or phenomena that take place within the crypto community.
Let’s know more about the crypto slang so that you don’t get REKT because you know how to DYOR and HODL.
Crypto Slang – A totally different wordplay
Part of the basics of cryptocurrency is the concepts and terminology. One of the intimidating factors about crypto is its jargon. For example, the terms blockchain, consensus mechanism, and smart contracts can make beginners scared to start their crypto learning.
However, newbies can start with the crypto slang so that they don’t get nervous in the first phases of their crypto self-study. The most common acronyms they’ll encounter are the shortened forms of the crypto coins’ names.
As an illustration, we have ETH for Ethereum, ETC for Ethereum Classic, XRP for Ripple, and XLM for Stellar Lumens. Also, let’s not forget the OG cryptocurrency – Bitcoin and its native coin BTC.
Top Crypto Slang Terms
ATH (All Time High)
ATH describes the highest value or price that a specific cryptocurrency has achieved.
Ape or Apeing
If this makes you think of the monkey, you are right because it is related to that concept. Ape describes an investor who just buys or invests in a token without doing proper research.
This talks about a person who keeps their coins or tokens regardless of whether the market is in a bullish or bearish condition. Above all, bagholders do this because they wait for better opportunities that can give them better revenues for their digital assets.
A crypto slang that refers to Bitcoin advocates who believe that Bitcoin is the one true cryptocurrency. Also, Bitcoin maximalists regard btc as the only crypto asset needed in the future. All other altcoins are inferior.
Cryptojacking is the malicious act of someone mining from your own computer. They install malware, and through that they secretly mine digital assets without paying for the consumed electricity.
This crypto slang happens to someone who’s had way too much information about cryptocurrency. All they ever talk about is cryptocurrency. As the old saying goes, everything should be in moderation.
A bit similar to bagholders, investors with diamond hands are those who refuse to sell even if they’ve already suffered losses. Usually, diamond hands are common among crypto investors with a high risk appetite. Consequently, they will not sell unless the cryptocurrencies’ prices satisfy their standards.
The crypto slang term was coined to describe the theoretical event wherein Ethereum’s market cap would beat Bitcoin as the top cryptocurrency.
Likewise, a parallel term of flippening is flappening. Charlie Lee coined this term in 2018 to illustrate Litecoin (LTC) overtaking Bitcoin Cash (BCH) in terms of market capitalization.
Slang Terms that Describe Emotions
BTD (Buy The Dip)
This is the optimistic outlook wherein low prices of digital currencies are an opportunity to buy more since the price will most likely increase in the near future. By the same token, investors are encouraged to BTD so that they can reap good profits when the market improves.
FOMO is probably a crypto slang term that you encounter often. Specifically, it stands for ‘fear of missing out’. This means that an investor is afraid of losing the chance to make huge profits. FOMO in crypto was a huge factor in Bitcoin’s wild price movements back in 2017.
When fear rules investors, their decisions become irrational and hasty. Pump and dump schemes thrive on FOMO. Therefore, this has a solid impact on the crypto market’s movements.
It is a crypto slang for fear, uncertainty, and doubt. It is a form of manipulation that makes people perceive something negatively. There are two FUD categories in the crypto space.
First, there are participants who want the coin or token prices to drop. Hence, they spread FUD about the new projects or start-ups. This will make people doubtful and withhold their support.
Second, FUD happens when there is strong skepticism about cryptocurrency’s performance as an asset class. Exaggerations and fake news fuel the skepticism which makes FUD stronger.
It looks like a misspelling of hold, right? Because it is. HODL originated from a Bitcointalk forum. Particularly, it was a typographical error in a 2013 online post.
This crypto slang means Hold On For Dear Life. Contrary to FOMO and FUD that connote intense emotions, it pertains to the buyer’s confidence in their buy and hold strategy. Volatility does not faze them because they have patience and commitment to their goals.
Additional Crypto Slangs
Paper hands is a crypto slang that describes investors with low-risk appetite. Due to that, they sell too early when the market shows even just the slightest signs of a bearish condition. Paper hands is the antonym of diamond hands.
We all know that strategies are paramount to achieving success as a trader or investor. Accordingly, weak hands refer to crypto investors who don’t commit to their planned strategies. They lack the resources and conviction to execute their strategies.
For the most part, these are the crypto community participants who are highly prone to panic selling.
This is a crypto slang term that is part of many crypto discussions recently. Defi is short for decentralized finance. This is a financial system that uses blockchain technology for its operations. Also, decentralized exchanges fall under Defi.
This is crypto slang derived from Satoshi Nakamoto, creator of Bitcoin. Satoshis (Sats) is the smallest unit of BTC. 1BTC equals 100 million Sats.
The origin of this crypto slang comes from wrecked. When an investor loses a lot of money because of poor investment choices, he is REKT.
This is an important skill for all crypto enthusiasts. Do Your Own Research. Before you decide to invest in a digital currency, take time to research and read. It will help you save money and prevent losses.
In summary, crypto slang terms help you to better remember the basic concepts in the crypto community. Correspondingly, its shortened forms are also helpful in remembering what kind of behaviors you should not engage in.
Moreover, familiarization with these crypto slang terms will greatly help you in adjusting to the crypto community.