Traders, investors, or just people interested in cryptocurrencies should know it's crucial to understand the industry. As in any field, the cryptocurrency industry has its own special jargon used to communicate. These special words or expressions can help you navigate this rapidly evolving field.
Here are some of the most common words or expressions you may come across. For disclosure, I'm also learning this fast-changing evolving slang. So I would appreciate it if you added something missing here in the comment section whatever new word you know of. Thanks!😁
Hodl: Hodl means holding on to any assets no matter its price action. It originated from a typo made by GameKyuubi on the Bitcoin Talk forum.
Anon: Short for Anonymous
ICYMI: An abbreviation for "In Case You Missed It".
DCA: An abbreviation of "Dollar Cost Average". Dollar-cost averaging (DCA) is an investment strategy that involves investing a fixed amount of money into a particular asset or security at regular intervals, regardless of the price. The goal of this strategy is to reduce the impact of volatility on the overall purchase price of the investment.
Rug Pull: A scam technique where the project owner/owners remove trading liquidity for their token, which makes it impossible for investors to sell their assets.
Degen: The term degen is extracted from the word ‘degenerate.’ In the crypto community, a degen is someone who confidently believes in the success of crypto projects without giving much regard to their consequences. These individuals continue to purchase the currency, hoping to double the value of their assets.
Rekt: an individual who suffers an extreme loss from a bad trade or investment and, therefore, is wrecked financially. (I got rekted many times by the way🤣)
Gas: Gas is a transaction fee for using blockchain services.
Pleb: Pleb refers to an individual stacking SAT (satoshis), the smallest unit of Bitcoin
Airdrop: An airdrop is when a blockchain project or company distributes free tokens or coins to the community. This is usually done to promote their project and increase awareness.
Normies: Normies are people who are not involved in the cryptocurrency world. They may be interested in Bitcoin or other digital assets, but they don't comprehensively understand the technology or the ecosystem. Normies are also referred to as Noobs or Newbies, as they are new to the community and lack the experience of crypto experts.
No Coiners: A no-coiner doesn't believe in cryptocurrencies or the technology behind them. They often dismiss the entire industry and may not even understand how cryptocurrencies work.
Bag Holder: This term is used to describe someone who holds a large amount of cryptocurrency that has lost value.
BTD: An abbreviation of "Buy The Dip".
The Dip: A big decrease in a crypto asset price.
Diamond Hands: This term describes investors who hold onto their cryptocurrency investments even when the market crashes. Diamond Hands is a show of faith in the long-term success of the asset.
Exit Scam: An exit scam is when a project suddenly shuts down and disappears, taking all the money raised with it.
DEX: A decentralized exchange (DEX) is a cryptocurrency exchange that takes place without the need for a central authority to match orders or hold funds. DEXes are often built on decentralized protocols, such as 0x or Ethereum, and use smart contracts to execute trades.
NFT: A non-fungible token is a digital asset that is not interchangeable with other assets of the same type. Each NFT is unique and can be used to represent ownership of digital or physical assets. PFPs (Profile Picture NFTs) have become one of the most in-demand NFTs.
Shill: Shill is a person who promotes crypto and NFTs in different communities with an ulterior motive.
Pump and Dump: This happens when a group of investors artificially inflates the price of a token by buying it in large quantities, then "dumps" it on the market once prices have risen, pocketing the profits. This type of behavior is considered to be manipulative and is often frowned upon by the crypto community.
FUD: Short for Fear, Uncertainty, and Doubt. This acronym describes the negative sentiment that spreads like wildfire in the crypto community. FUD can cause investors to sell their holdings out of fear, leading to price drops.
Ape: "Ape" is a term used to describe taking a large position in an asset relative to one's portfolio size. So, if someone says they "aped into Solana," it means, a person put a large amount of money into Solana compared to the rest of their holdings.
Probably Nothing: In cryptocurrency, the phrase "probably nothing" often suggests that there is more going on than meets the eye.
Altcoin: Altcoin is used to describe any cryptocurrency that isn't Bitcoin. The term "altcoin" may be used for thousands of different cryptocurrencies in the market today.
NGMI: In short, NGMI means "Not Gonna Make It." It is typically used when disagreeing with a certain action or as a sign of regret over a bad decision.
WAGMI: Short for "We All Gonna Make It." It shows a high conviction and optimistic state about the future.
Whales: Big investors who hold large amounts of cryptocurrency are called Whales by the community. These individuals wield much power in the crypto markets, as their trades can cause prices to rise or fall significantly.
GN: Short for "Good Night".
GM: Short for "Good Morning".
FOMO: Fear Of Missing Out. This acronym is used to describe the feeling of anxiety that comes from thinking that you might miss out on a good opportunity.
In the context of crypto, FOMO often leads investors to make hasty decisions about buying or selling tokens.
JEET: JEET describes a person who sells anything and everything when they panic. (I hate when users overuse this word in Telegram lol)
Don't forget to add yours in the comment. Thanks!
