Unlocking the Secret Language of Crypto: Your Ultimate Slang Guide

This can’t be stressed enough by the crypto community, because although someone might say they’re not offering financial advice, that’s what it is at the end of the day. Financiers seem to have grown fond of the animal representations in the markets. In the stock market, we have bulls and bears battling about price levels. In startups, a company worth over $1 billion is referred to as a unicorn. The Degen is a predatory creature, acting upon the basic instincts of greed and constantly putting themselves in high-risk situations.

This means that it is controlled by a single entity, such as a company or a government. It includes banks, investment firms, crypto exchanges, and other financial institutions that are centralised. DeFi has become very popular in recent years, as it allows users to access financial services without the need for a bank or other centralised institution.

Investors attempt to inflate (or “pump”) the price of an asset, only to sell their holdings (or “dump”) before the price falls. Recent years have seen many attempts to pump and dump in the crypto scene. Proof of work is a process wherein miners race to be the first to solve complex mathematical problems once a transaction block has been filled. Many cryptocurrencies, such as Bitcoin, use the proof-of-work strategy to verify transactions.

And, everyone from Warren Buffett to athletes and celebrities have weighed in on the future of cryptocurrencies. Bitcoin has been the cryptocurrency to beat since the very creation of crypto. Some even believe that one day, Ethereum’s market cap will exceed Bitcoin’s. A pleb or normie is simply a person with little or no knowledge of cryptocurrencies and an average income.

’ It’s used ironically to mock people who are focusing only on a coin’s price. Crypto slang for wrecked, rekt is what happens when a trader experiences severe financial loss due to a bad trade or investment. WAGMI, on the other hand, stands for ‘we’re all gonna make it.’ The acronym is widely used by the crypto community to inspire both positivity and confidence in a project.

If you’re serious about getting involved in the cryptocurrency world, you must take the time to understand the language. Offer pros and cons are determined by our editorial team, based on independent research. The banks, lenders, and credit card companies are not responsible for any content posted on this site and do not endorse or guarantee any reviews. A type of crypto scam that starts with the scammers creating and promoting a new scamcoin. Once they’ve collected investors’ money, they pull the rug and walk away—leaving investors with little or nothing . A shill is someone who promotes a coin and tries to drive its price up.

Cryptocurrency trading is mainly driven by emotions instead of valuation. This reason is why FOMO is a significant factor in swing trading with cryptocurrency. “Weak hands” is a term used in the community to describe investors who are easily influenced by market fluctuations and tend to sell their positions quickly at a loss during a market downturn. A scenario where investors buy massive assets when the asset price is going very low. The idea is that, eventually, that price of the asset will increase.

Liquidity Provider

Cryptojacking is a term used to describe the unauthorized use of a computer system or device to mine cryptocurrency. Moonboys are a kind of cryptocurrency trader who believes in moonshots. A moonboy is someone who bets on high risk investments and expects them to take off at some point in the future for big gains. Vaporware is a term used in the crypto world to refer to a product that has been promised but has yet to be delivered.

Decentralization is when an organization’s decisions are made by a group or distributed network, rather than by a single, centralized entity. In blockchain technology, this means that everyone in the group has a copy of the same data and an equal voice in the collective. This reduces responsibilty and dependency on one single entity.

Bitcoiner

This is perhaps the most important crypto slang term, as it encapsulates the entire ethos of the crypto community. Crypto investors who sell their coins if the price drops, even if it only drops a little. Someone with strong hands might hold on to their coins during the downs and ups .

People also use it to make fun of people with negative opinions regarding crypto. NFA stands for “not financial advice” and people who give crypto or NFT advice use it as a disclaimer to signify they’re not responsible for any consequences of their advice. GOAT stands for “greatest of all time” and it’s one of the best compliments you can give someone in crypto and other communities. It refers to when the floor price of an NFT project is rising fast because it’s being bought quickly. Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations.

ICO – Initial Coin Offering

In some cases, this can be seen as a sign of inexperience or lack of understanding when it comes to the crypto market. It’s important to do your own research when investing in any cryptocurrency, but especially when it comes to Boomercoins. You should look into the project’s whitepaper, website and social media accounts before investing, and make sure you understand the project before putting your money at risk. Proof of stake is a consensus mechanism for processing transactions and creating new blocks in a blockchain. In the proof-of-stake system, validators “stake” their coins in order to process transactions and create new blocks of a blockchain—similar to what miners do in a proof-of-work blockchain.

CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users. Rekt is a misspelling of “wrecked” and refers to someone that has lost their money in the markets. Often, it was due to excessive risk taken by buying shitcoins or trading with leverage.

Today, ledgers serve a similar purpose in the universe of blockchain. It keeps a record of all authentic, verified transactions, while keeping identities and their respective crypto funds anonymous. HODL stands for “hold on for dear life.” HODL is used mainly to encourage crypto investors to keep their coins during volatile market periods.

Before investing in cryptocurrency, you should do your own research and make sure you understand where you’re sending your money. Someone might tell you about a new coin they like, but then warn you to DYOR. Decentralized finance is the name for alternative types of financial products and services that are being created within the crypto world, such as crypto lending platforms and savings accounts. Corey DiNardo Corey saw the need for more accessible blockchain education after having a friend try to explain bitcoin, blockchain, and ethereum numerous times, unsuccessfully. As he learned more, he was able to configure his computer to mine Ethereum and became an advocate for decentralization.

FUD is a term used to describe when negative news or sentiment surrounding a particular cryptocurrency causes the price to go down. This term is often used in a light-hearted way to describe how volatile the market can be. Sometimes scam coins causing hype can also lead to investors being “rekt”.

A whale may be able to affect a https://forex-world.net/’s price by quickly buying or selling their coins. FUD stands for “fear, uncertainty, and doubt” and it’s another one of the common crypto slang terms. It happens when people start to doubt a specific project or have pessimistic views on the crypto market as a whole and spread that negativity online.

FUD Example 1: FUD’s Use in Criticizing Non-Crypto (TradFi) Institutions

It originated on Reddit, but it’s also popular on Twitter, in crypto, and other communities. Sats is short for Satoshis, the smallest unit of Bitcoin , named after the elusive creator of the coin, Satoshi Nakamoto. Just like fiat currency, cryptocurrencies can also be divided into smaller units. As such, it’s helpful to think of Sats as you would cents to a dollar. Whereas 1 dollar equals 100 cents, 1 Bitcoin equals 100 million Satoshis.

In early bitcoin forums, someone posted a message that spelled the word “hold” wrong, and readers interpreted it as an acronym “hold on for dear life,” Saddington explains. “Now, it’s become a meme of sorts, so that when the prices are highly volatile, bitcoin buyers say ‘HODL!'” Saddington describes himself as “a long-term HODLER.” Digital currency bitcoin has seen a tumultuous ride in recent weeks, as the price fell to trade below $6,000 per coin in June, down from a high of over $19,000 last year.

• 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.
• These schemes are often orchestrated through apps like Slack or Telegram, he adds, and advises curious chatroom readers to beware of such gimmicks.
• FOMO stands for fear of missing out and is a well-known psychological concept that describes investors’ mentality to be apprehensive of not profiting from upwards price movement.
• A “rug pull” is a term used to describe when a team behind a cryptocurrency project abandons the project and sells all of their coins, causing the price to crash.
• It happens when people start to doubt a specific project or have pessimistic views on the crypto market as a whole and spread that negativity online.

It was later copied by other protocols, replacing the with emojis like (🌳,🌳). Recently, a decentralized competitor to OpenSea called LooksRare made use of the meme to launch its token. IYKYK is short for if you know you know, in other words being in on an inside joke. The expression is used liberally, either when a person really has valuable information about a project or similar, or ironically if a person is sharing commonly known information. HODL stands for hold on for dear life and expresses the intention to not sell under any circumstances, no matter how bad the volatility gets.

Securities and Exchange Commission (SEC)

This Crypto slang is often used as a way of saying that the price will continue to increase. It can also be used as a way of expressing excitement about the future price of a particular coin. If you are investigating altcoins and see this term being used a lot, it might be worth doing some extra research before investing. This acronym is used by investors who are bearish on a particular coin or project. This is commonly used when there is a downturn in the markets and investors are trying to stay positive.

• One of the most famous DAOs is the DAO stack, which is a set of protocols that allow developers to create and run decentralised applications.
• US dollars, euros, and pounds sterling are all types of fiat money.
• It’s important to do your own research and understand what each term means before investing in any asset.

This means that you would need more than one person to agree to a transaction before it could be processed. MultiSig is a type of wallet that requires more than one signature to authorise a transaction. Double spending is often seen as a negative thing, as it can lead to an inflation of the currency. It’s important to be aware of double-spending when considering investing in a particular coin.

Diamond Hands 💎🙌

Nowadays, the expression is used almost exclusively in an ironic way to mock people that are focusing only on a coin’s price. LFG is short for “let’s fucking go” and is really only that – an expression of excitement. For instance, you may be inclined to tweet LFG if you BTFD and the price of the coin you bought increased significantly.

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For example, someone might say, “she’s got a severe case of cryptosys” when talking about a friend who has become obsessed with the topic. Learn the basics of cryptocurrency and how to protect yourself from crypto scams with this 6-part beginner-friendly course, created in collaboration with Luno Discover. This isn’t the complete list of crypto slangs in our vocabulary, but these are some of the more uncommon ones that true blue crypto OGs or nerds will know. Normies refers to the mass majority of people who have yet to explore the crypto space, or have decided to stay out of the twitter space. “Pump and dumpers are people who often say, ‘Hey, let’s all of us together pump this coin,’ which means buy the coin, create the demand in the market, the coin will go up in value,” Saddington says. FUD means “fear, uncertainty and doubt.” Bitcoin followers advise to HODL your coins despite the FUD of those outside the community.