Feeling Out of the Loop with Crypto Talk? You’re in Good Company! Crypto jargon such as “HODL”, “FOMO”, “to the moon”, and many more have become so ingrained that they form a new dialect in the crypto universe. This guide aims to unravel the thrilling world of crypto jargon, and by the end, you’ll be ready to “ape in” to the crypto vernacular with confidence.
Why Crypto Slang is Significant
Why invent new terms when the traditional trading language could suffice? The crypto market, initiated by Bitcoin in 2009, is relatively young but has rapidly expanded to include thousands of cryptos for trading.
The crypto scene is dominated by a younger, tech-savvy demographic, in contrast to the traditional finance markets’ older average trader age. This youthful generation is naturally drawn to “cool” jargon, which aligns with meme culture and playful trading descriptions.
For a crypto investor, terms like “whale” and “HODL” have distinct meanings that differ from their traditional financial interpretations. Crypto slang opens a window into the authentic culture of crypto trading, where memes and unique terms serve as symbols of camaraderie among traders.
Deciphering Common Crypto Slang
Let’s dive into some widespread cryptocurrency slang and their explanations:
- Altcoin: Any cryptocurrency other than Bitcoin, which has seen many successors since 2009.
- ATH: All-time High. The peak value a cryptocurrency has ever achieved.
- HODLing: Originated from a typo for “holding,” it means retaining a coin long-term.
- Bear-run/Bearish: A period when cryptocurrency prices are falling, and sell-offs are common. “Bearish” is the expectation that values will continue to drop.
- Bull-run/Bullish: Expecting cryptocurrency prices to rise. “Permabulls” are eternally optimistic about Bitcoin or crypto, while “Permabears” hold the opposite view.
- Shills: Individuals promoting a cryptocurrency in which they have a personal stake.
- Whale: A trader or entity that buys or sells large amounts of cryptocurrency, significantly impacting market prices.
- FUD: Fear, Uncertainty, and Doubt. Spreading skepticism or negative information to influence perception.
- Rekt: Suffering substantial losses from a poor trade.
- Bagholder: Holding onto a cryptocurrency after its price has plummeted, while others sell off.
- Moon: The expectation that a cryptocurrency’s value will skyrocket.
- Pump and Dump (P&D): A scheme where traders inflate a crypto’s price then sell off at its peak, often leaving others at a loss.
- Shitcoin: A derogatory term for cryptocurrencies with little to no long-term investment value.
- Lambo: Short for Lamborghini, symbolizing the high returns anticipated from certain cryptos.
- DCA: Dollar Cost Averaging, a strategy of spreading out purchases to reduce risk.
- Halving: The scheduled reduction in mining rewards on blockchains like Bitcoin, designed to decrease supply over time.
- Ape: Impulsive buying of a token, often without prior research.
- Bitcoin Maximalist: Investors who view Bitcoin as the only cryptocurrency of true value.
- BTD: “Buy the Dip,” a strategy of purchasing during price drops in anticipation of future gains.
- Diamond Hands: Traders who hold their assets long-term, regardless of volatility, expecting value increases.
- Paper Hands/Weak Hands: Traders who quickly sell off their crypto at the first sign of market downturns.
- DYOR: “Do Your Own Research,” a reminder to thoroughly investigate before investing.
- FOMO: “Fear of Missing Out,” the anxiety that arises during volatile market movements, prompting quick action.
- LFG: “Let’s F—ing Go,” expressing excitement about market conditions or crypto projects.
- Rug Pull: A scam where developers abandon a project after collecting investments, leaving backers with nothing.
How Crypto Slang Reflects Market Trends
Market conditions often dictate which slang terms gain popularity. For example, “BTD” trends in bear markets, while “ATH” is more common in bull markets. Terms like “minting” and “gas fees” rose with the NFT boom, while “bagholder” and “weak hands” are prevalent during market downturns. Conversely, “moon” and “Lambo” resurface in bull markets, symbolizing potential wealth from crypto investments.
As blockchain technology evolves, so does the associated terminology, reflecting new platforms and concepts. Staying updated with these terms can help you navigate market shifts and make informed decisions.
