Are you struggling to keep up with crypto enthusiast and crypto evangelist making fuzz with slang words such as "HE's a WHALE" or "BAT is breaking-out this month with 3% increase! TO THE MOON" on Reddit, publish0x, crypto communities, and crypto markets?
No worries! This post will explore the popular and most common words or phrases used cryptocurrency slang that you need to understand if your planning to be a WHALE someday or a BAG HOLDER REKT.
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1. HODL - or "Hold On for Dear Life" is a slang word for "hold your coins" or a person holding a particular cryptocurrency such as Bitcoin and does not plan on selling in the foreseeable future. People who do this are called HODLERs.
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- The history behind the acronym goes back in December 2013 on a bitcointalk forum, when a drunk user named GameKyuubi initiated a post and wrote: "I AM HODLING". This typo becomes a very popular internet meme and used by many investors to not sell their cryptocurrency even in the event of price fluctuation.
Example: I'm currently Hodling even if the price crashed.
2. FUD - an abbreviation for "Fear, Uncertainty, and Doubt" or "Facts U Dislike" is a tactical act of spreading negative rumors or misleading information through social media and other news platforms that the price of a coin is plummeting. This tactic mostly affects beginners and noobs who don’t know their position that results in selling their crypto assets at a cheaper price.
©Image by HODLER ASH of cryptoemotions.com
- People who are spreading FUD's are called FUDster.
Example: BAT dominance this month is down 30%, making it highly INVESTIBLE.
3. WHALE - is a person who owns more than 5% of any cryptocurrency. When a WHALE make a large transaction (buys or sells coins), they can influence the cryptocurrency market by forcing the price of a coin to go up or down. This action is also called "Wave in the Ocean".
Example: Bitcoin price has declined by 7% within an hour, a whale must be behind this situation.
4. Pump N' Dump - or P&D is a market manipulation performed by a large group of investors (mostly are whales) who buy an absurd amount of coins at the same time to increase the demand and the value of a coin (also called PUMP). Then everyone DUMPs or sell their coins at a high price before the price crashes.
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Example: The BATs chart looks like it was pump and dump.
5. BagHolder - is a person who holds a large number of altcoins which value is lower than what they paid for until its worth nothing.
- One cause of being a BagHolder is because of the Pump N' Dump tactic.
Example: They call me a BagHodler because my coins only have little to no value.
6. TO THE MOON - or Mooning is a statement used to explain that the price of a particular cryptocurrency is reaching its peak price or even greater than its ATH (All Time-High) price.
Example: Ethereum is Mooning!
7. REKT - the term REKT came from the word "wrecked" and commonly used in the world of gaming. Basically, it means a person has lost a substantial amount of money on a certain cryptocurrency.
Example: Bitcoin Consolidating! The Stock Market is REKT again!
8. DYOR - an abbreviation for "Do Your Own Research" is a common response for people (commonly newbie) asking for advice regarding buying, selling, and hodling a crypto asset.
- This term is also considered as the NUMBER 1 rule you need to know. This rule encourages future traders and whales to draw their own understanding in the world of cryptocurrency.
Example: Every investor needs to DYOR before making a move.
9. Faucet - a faucet is a website where you can receive free cryptocurrency on a certain time intervals or by doing some tasks you need to accomplish. Most faucet websites are scam so be careful.
Example: freeBitcoin.io is a legit faucet.
10. Altcoin - is any cryptocurrency except for bitcoin.
Example: Bitcoin is Mooning while Altcoin's price is crashing.
11. Nocoiner - is a person who doesn’t have a cryptocurrency.
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- Most nocoiner people missed the opportunity to buy a cryptocurrency on a state of low price. Some suggest it is due to FUD or they forgot to DYOR.
Example: I pity the nocoincer people, they believed that bitcoin is a Ponzi scheme.
12. OCD - is an abbreviation for "Obsessive Crypto Disorder" or also known as Cryptosis in medical terms. OCD is a non-life threatening disorder where a person is obsessively monitoring the price changes all the time and follows up-to-date cryptocurrency news.
Example: You're not a crypto enthusiast, you have a Cryptosis Disorder.
13. FOMO - is an abbreviation for "Fear Of Missing Out". FOMO happens when a person starts buying coins at a high price or at an ATH because they are afraid of missing out on a profitable opportunity and regretting it later.
©Image by goodoldfiat of thebitcoin.pub
- This mistake is common for newbies and noobs who don't DYOR and likes to jump in the bandwagon.
Example: Don't buy at ATH, you will lose your mind as a FOMO!
14. Airdrop - is a marketing tactic to distribute free cryptocurrency through a small to a medium-size community of people to popularize the new coin in the initial stage of coin offering.
- There are also other Airdrop campaigns and groups (mostly in telegram) that distribute free cryptocurrency in exchange for simple tasks like sharing and liking a post in popular social media and referrals to download the app. Like Faucets, most airdrops groups and apps today are SCAM.
Example: You want free altcoins? Go find some airdrop group.
15. Flippening - is an event where a particular altcoin surpasses the total market cap (Circulating Supply * Coin value) of bitcoin.
Example: The flippening will happen in the near future where ethereum could end the supremacy of bitcoin.
16. ATH - is an abbreviation for "All-Time High". ATH is used to describe a particular coin is reaching its new record or highest value(price).
- Please don't be a FOMO when an altcoin price reaches its ATH.
Example: Bitcoin ATH is at $25,000. Happiness is Real!
17. Vaporware - is a coin or virtual asset with no value.
Example: Don't even try to hodl this coin, unless you want to be REKT!
18. Shill - or "Pumping" is an act of endorsing a particular cryptocurrency for their own benefit. This act can build-up some hype and scam crypto newbies to buy a costly cryptocurrency with no value that ends up being vaporware.
Example: Always DYOR and don't support shills.
19. Shitcoin - is a token with little to no value. Shitcoin is usually shilled by fake investors or crypto scammers for their own benefit.
Example: Why do you hodl some shitcoins? WHY?
20. Bull - or Bullish is a person who believed that the market price of a particular coin will increase.
Example: These people have a bullish mentality about bitcoin.
21. Weak Hands - is a gambling term adapted by crypto investors that describes a person who has sold his crypto assets at a low price rather than waiting for the market to recover from a massive crash.
- The obvious opposite of Weak Hands is called "Strong Hands" who hodl their crypto assets and wait for the perfect opportunity to make profits.
Example: Prepare yourself, the weak hands are selling.
22. ICO - stands for Initial Coin Offering. Basically, this is an initial launch of the new coin to the public with a crowdfunding activity organized by a start-up business or established organization.
Example: BAT Initial Coin Offering has generated $35 Million in just 30 seconds.
23. GAS - a transaction fee. When conducting a transaction such as transferring an ETH to another address, as gas is required to execute that operation.
©Image by 7onhom of Reddit
Example: I don't have enough gas to execute a transaction.
24. BTFD - an abbreviation for "Buy The F*ck*ng Dip". BTFD is a term used to buy crypto assets when the price is down.
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Example: BTFD + HODL = Money in the Making.
25. AFI - or "All Fucking In". An act of Buying, Selling, or Trading Cryptocurrency at once - A person can sell all his assets, buy some assets with all his/her money, or trade all his assets.
Example: The price of a Bitcoin is Mooning! AFI, Time to sell all my assets.