In this article, we’ll go through some of the most commonly used crypto slang terms to help you feel more comfortable entering the world of cryptocurrency. Some may sound funny or weird, but nevertheless, they may be important to learn if you wish to invest in the crypto space.
In specialized communities like crypto-related forums or blogs, if you don’t know the meaning of these terms you may be practically lost, as out there you can come across actual phrases consisting of words like HODL, FUD, or other cryptocurrency slang terms for the most part. That’s why it’s vital getting familiar with these terms before learning how to make money with cryptocurrency.
Crypto Slang Terms
- Fiat Currency
- Market Cap
- Hardware Wallet
- Pump & Dump
- Getting Rekt
- White Paper
- Crypto Private Key
- Automated Market Maker (AMA)
- Moon (or Mooning)
- Impermanent Loss
- When Lambo?
- No Coiner
- Bullish and Bearish
- Market Order
- "Sats" or Satoshis
- ICO & IDO
- Slippage Tolerance
- Cryptocurrency Mining
What Are the Most Popular Crypto Slang Terms?
The following are the most popular crypto slang terms used in the cryptocurrency space.
Crypto or Cryptocurrency is a type of digital asset that uses cryptography to secure its transactions and to control the creation of new units of the currency.
“Crypto” generally means any digital coin which offers a high level of security due to cryptography. This renders it impossible to falsify or double-spend this digital money.
The vast majority of the crypto coins on the market are fully decentralized, meaning they are not subject to government or financial institution control and rely on blockchain technology. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. As of May 2022, more than 10,000 different cryptocurrencies have been created according to coinmarketcap.
2. Fiat Currency
Fiat currency is any legal tender designated by a government as money. It is not backed by any physical commodity, but rather by the government that issued it. The value of fiat currency is derived from the faith and credit of the issuing government.
This cryptocurrency slang means to “hold on to dear life” and is used to fight against FUD. It is a term through which people brag about the fact that they are not planning on selling their coins anytime soon, and also encourage others to do like them.
Those who advocate holding a coin rather than selling are generally very hyped regarding a particular digital currency. These individuals have very high hopes for that coin and even when the price is at an all-time low, they still hope for a future bull run. It goes without saying that this takes a lot of determination and courage.
Know Your Customer, or “KYC,” is a process by which businesses verify the identity of their customers. This is typically done by requiring customers to provide some form of government-issued ID, like a driver’s license or passport.
For businesses operating in the crypto space, KYC is often a regulatory requirement. exchanges, for example, are typically required to collect KYC information from their users. This is to prevent money laundering and other illicit activities that could be facilitated by anonymous accounts.
KYC can be a bit of a hassle for users, as it requires them to submit personal information and documentation. But it’s important to remember that KYC is ultimately designed to protect both businesses and customers from fraud and other illegal activities.
5. Market Cap
A crypto market cap is the total value of all cryptocurrencies in circulation. It is an important metric because it gives you a good idea of how much a particular cryptocurrency is worth in terms of its USD value. The higher the market cap, the more valuable the cryptocurrency is.
The market capitalization of a cryptocurrency is calculated by multiplying the price of the coin by the circulating supply. For example, if a cryptocurrency has a price of $1 and a circulating supply of 10 million, its market cap would be $10 million.
Investors often look at the market cap of a cryptocurrency when assessing its potential investment value. A high market cap indicates that a cryptocurrency is widely held and is, therefore, more likely to be stable in price. A low market cap may mean that a cryptocurrency is less well-known and is more volatile.
The term “FOMO” stands for “fear of missing out”. This crypto slang term is not necessarily only crypto-related and can also be applied in other everyday life situations. The term is also widely used in stock investment and is quite famous amongst Wall Street aficionados.
When used in a crypto-related context, the term “FOMO” refers to the sudden urge to get in on a project after the price has already increased a lot. FOMO is basically the opposite of FUD and those who want to HODL are not advised to buy on FOMO.
This crypto slang term means that a certain coin is purchased when the buyer believes that its value will soar to new all-time highs. Nevertheless, it doesn’t mean that it will actually happen. In most cases, it doesn’t and many FOMO buyers end up losing money instead, as they have the bad luck of getting in on the project right before a massive sell-out, and consequently a big price drop.
7. Hardware Wallet
A hardware wallet is a type of crypto wallet, a physical device that stores a user’s private keys. Hardware wallets are considered the most secure type of cryptocurrency wallet as they allow users to keep their private keys offline. This means that they cannot be stolen by hackers, even if the user’s computer is compromised.
8. Pump & Dump
Pumping and dumping a cryptocurrency is basically a strategy of powerful and influential investors, who use various methods of manipulating how less experienced crypto enthusiasts feel about a certain coin. To dump a coin means to sell it once the price is right, which may lead to massive price drops.
The investors who employ these tactics are usually none other than the very same wales we just talked about. A red flag signaling the pump and dump strategy is big price fluctuations. . Those who HODL a certain coin can influence the price to go up and thus diminish FUD, with the sole purpose of “pumping” the coin and then “dumping” it.
A blockchain is a digital ledger of all cryptocurrency transactions. It is constantly growing as “completed” blocks are added to it with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Bitcoin nodes use the blockchain to differentiate legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
“Shilling” refers to the action of advertising a project and sharing positive aspects about it with the public in order to generate hype and then profit from it. Due to shilling newcomers will be tempted to buy and HODL, but it might also end up in FUD.
Initially, shilling was not considered a crypto slang term, but with time it became more and more widespread in the crypto space too. The person performing the shilling is known as a “Shiller”.
At this point, you might be asking yourself why someone would become a Shiller. The answer is pretty simple – either because they have bought a large number of coins and they are working to get the price rising in order to sell it for profits afterward, or because they were paid by the cryptocurrency’s dev team, either in fiat or in tokens.
Shilling is not necessarily a bad practice. Many new projects resort to it because unless they benefit from some advertising, they won’t manage to make people buy, and HODL and the project might die out.
A coin is a cryptocurrency that has its own blockchain. This means that it is not built on top of another blockchain like Ethereum or Bitcoin. Examples of coins include Bitcoin, Litecoin, and Monero.
A token is a cryptocurrency that is built on top of another blockchain. The most popular platform for launching tokens is Ethereum. Tokens can represent anything, from a virtual good to a piece of real estate. Some popular examples of tokens include Polygon (MATIC), The Sandbox (SAND), and Uniswap (UNI).
13. Getting Rekt
The Rekt crypto slang term comes from the word “wrecked” and refers to those investors who lose a lot of money after the price of a crypto coin falls. The term initially originated in video games, which means that the loss suffered by one of the players was of epic proportions.
It is generally used to taunt the loser. In a similar manner, a crypto investor can get rekt if he succumbs to fear, uncertainty and doubt and doesn’t resist the temptation of selling their coins right after a big dip.
14. White Paper
A white paper is an in-depth, technical document that explains the inner workings of a project or system. In cryptocurrency, white papers are often used to explain the features and philosophy behind a new coin or token.
15. Crypto Private Key
A private key is a string of alphanumeric characters that represent a user’s ownership of a cryptocurrency. Private keys are generated when a user first creates a wallet and are used to sign transactions on the blockchain. In order for a transaction to be considered valid, it must be signed with the user’s private key.
Private keys should be kept safe and secure at all times, as they are the only way to access a user’s cryptocurrency. If a private key is lost or stolen, the user will no longer be able to access their funds. For this reason, it is important to backup private keys and store them in a safe location.
In short, the FUD crypto slang stands for “fear, uncertainty, and doubt”. It is common knowledge that in order to get anywhere in the crypto world you need to have guts and not lose your temper easily. But that’s easier said than done! In most cases, investors simply cannot control their emotions and end up doing the so-called “panic sells” once fear, uncertainty, and doubt occur.
Once they see a large drop in the price of a cryptocurrency, they simply cannot abstain from selling, out of the fear of not losing an even bigger percentage of their initial investment if they continue to HODL. In some cases, various influential figures generate FUD intentionally, so that they can then buy the coin at a really low price and make profits later.
17. Automated Market Maker (AMA)
An Automated Market Maker is a type of market maker that uses algorithms to automatically provide liquidity to a market. AMMs are often used in decentralized exchanges (DEXs), where they can provide liquidity without the need for a centralized party.
Good examples of AMMs are PancakeSwap on Binance Smart Chain and Uniswap on Ethereum.
What are the drawbacks of using an AMM?
AMMs can be subject to high levels of slippage. This is because they use algorithms to price assets, which can sometimes be inaccurate. This can lead to losses for traders.
18. Moon (or Mooning)
“The the Moon” or Mooning happens when the value of a cryptocurrency reaches incredible new all-time highs in price, making holders ecstatic. One of the best examples of cryptocurrencies mooning is Bitcoin reaching an all-time high of almost $65000 in April 2021 or Doge reaching $0.74 in May 2021 after Elon Musk pumped the coin with a few tweets.
19. Impermanent Loss
Impermanent loss is a type of risk that traders face when providing liquidity to a special kind of market called an automated market maker such as Uniswap, SushiSwap, PancakeSwap, and others.
The benefit of providing liquidity is that you will receive a percentage of the trading fees as a reward, and sometimes extra incentives with yield farming between the different DeFi protocols. But there’s also the risk of Impermanent loss, which occurs when one of the pair’s two assets becomes volatile.
When the price of the assets in a market moves, the value of the assets held by the trader will also change. However, these changes are not always equal. This means that there is a risk that the trader will end up with less value than what they started with. This type of risk is known as impermanent loss.
In crypto, a whale is a person who holds at least 5% of the total supply of a crypto coin, either because they bought that amount of coins or because they own it due to their involvement in the development of the cryptocurrency.
Whale is probably one of the most used crypto slang terms. To better understand this crypto slang, think of a person who is currently on HODL mode with 200000 coins out of a total supply of 1000000. FUD may easily intervene here for other investors as this is a whale that practically owns 20% of the total supply.
Should this whale decide at some point to sell all of the coins at once, it would be enough to crash the whole market. However, if the liquidity of the cryptocurrency is locked for a certain period of time, it should be safe for investors, as this way they can know that those coins cannot possibly be dumped on the market until a certain date.
The Bagholder crypto term refers to a person who is known to HODL a cryptocurrency even after its value has soared considerably. Rather than falling victims to FUD, it seems that bagholders are always on FOMO.
To better understand the concept of bagholder, think of a hoarded who gathers up all sorts of apparently worthless items in the hope that one day they will turn into highly valuable property. In most situations, bagholders don’t really get to have it their way. They often miss out on selling the cryptocurrency at a lucrative price and thus don’t end up making a lot of money. Nevertheless, the effort must be appreciated at least.
The DCA Crypto term is short-term for “Dollar Cost Averaging” and refers to a strategy employed by many investors in which they spread out their investment into a particular asset over a period of time, rather than investing all at once.
This technique is often used when investing in something with high price volatility, like cryptocurrency, as it allows the investor to average out their purchase price over time and mitigate the risk of buying in at an inopportune moment.
So, for example, rather than buying $1,000 worth of a given cryptocurrency all at once, the investor might instead opt to spread that investment out over a period of weeks or months, buying $250 worth at a time.
DCA Crypto is often lauded as a smart, disciplined way to approach investing in volatile assets like cryptocurrency, and can help to reduce the overall risk of an investment portfolio.
..you DCA when things are low, so you can bring your cost average down; you DCA on your way up, you bring cost average upwards..why would you wanna do that? You wanna DCA when things are down and low.CryptosRUs
The “flipping” is the much anticipated moment when Ethereum is supposed to take over Bitcoin and become the number one crypto coin on the market. Whether that will actually happen, remains to be seen. Nevertheless, one thing is certain, at the moment Ethereum’s market cap is approximately 85% lower than that of Bitcoin. As such, it seems that Ethereum fans won’t get to witness their flippening very soon.
24. When Lambo?
Often used in the crypto space, this question implies getting rich fast as a result of profitable investments. It goes without saying that to be able to buy an actual Lamborghini car, you need to be loaded.
This cryptocurrency slang is often used by those who are fully committed to HODL. For this type of investor, no FUD is strong enough to stand against their dream of becoming insanely rich. When patiently waiting for the price of a coin to the moon, crypto enthusiasts often encourage themselves by asking this key question – “When Lambo?”.
25. No Coiner
No Coiner refers to individuals who do not HODL any cryptocurrency at all. These are the kind of people who usually generate FUD by spreading rumors that Bitcoin’s price is bound to fall. They are generally very negative about Bitcoin as well as altcoins.
They assumed cryptocurrencies are a scam or a Ponzi scheme, which is why they didn’t even consider buying when the price was low and missed their chance to make some good profits.
Cryptosis is basically an obsession regarding to everything crypto-related. If you feel the need to spend all of your free time Googling stuff about cryptocurrencies or researching crypto projects and getting in on new coins, you clearly have cryptosis. It may sound like a disease name, but don’t worry – it is not necessarily a bad one and it might make you a lot of money.
This cryptocurrency term is used when talking about any coin other than Bitcoin. Whether you want to HODL Litecoin, or you sold your Doge on FUD, you are caught up in the world of altcoins. A less elegant slang for these would be “shitcoins”. This emphasizes the fact that Bitcoin is by far the number one coin on the market, while the other ones merely bask in its fame.
28. Bullish and Bearish
Being bullish on a cryptocurrency means that you are expecting a bull run, aka a massive increase in its value. On the other hand, being bearish implies that you believe you are faced with a bear market, meaning a market where the price just keeps dropping consistently.
“ATH” is a cryptocurrency term that is an abbreviation of “all-time high”.
This is a situation where the efforts of those who HODL and turn a blind eye to FUD finally get repaid, as the coin reaches the highest price in its entire existence.
A stop-loss is a feature that traders use on exchange platforms like Binance and other major crypto platforms, to automatically sell their cryptocurrency when it reaches a certain price. This is done in order to limit their losses in case the price of the coin falls sharply.
31. Market Order
Market orders are the simplest and quickest way to buy or sell a cryptocurrency at the current market price. For example, if the current market price of Ethereum is $2000 and you place a market buy order, you will buy Ethereum at $2000.
Contrary, market orders or not recommended to be used for large sums of money as you could potentially end up paying a lot more than you intended, especially when the volatility is extremely high like new cryptocurrency listing events.
32. “Sats” or Satoshis
“Sats” is a crypto term that refers to Satoshis, which are the smallest units of Bitcoin. Those who have been HODL-ing Bitcoin for a while in spite of all the recent FUD know this. Sats are to Bitcoin kind of like what cents are to dollars.
One Sat amounts to 0.00000001 BTC, which is a pretty small sum. Nevertheless, taking into consideration how much the price of Bitcoin has soared in the past year, even a few Sats might result in some nice earnings.
Scalping is a trading strategy that involves buying and selling cryptocurrency on the same day. The goal of scalping is to make small profits through multiple trades. Scalpers typically trade in high volume and across multiple markets.
A DeFi crypto term refers to a decentralized financial system that uses blockchain technology to provide financial services. These projects usually use smart contracts to automate financial transactions. DeFi projects often aim to provide lending, borrowing, and other financial services to users without the need for a centralized third party such as a bank.
35. ICO & IDO
Initial coin offerings (ICOs) and initial decentralized exchange offerings (IDOs) are popular methods of fundraising in the cryptocurrency space.
An ICO is a type of crowdfunding, where a company or individual raises funds by selling crypto tokens to investors.
An IDO, on the other hand, is a type of Initial DEX Offering, where a company or individual raises funds by listing their crypto tokens on a decentralized exchange.
Both ICOs and IDOs have become popular methods of fundraising due to the fact that they offer a number of advantages over traditional methods such as initial public offerings (IPOs). For example, ICOs and IDOs are typically much less expensive and time-consuming to launch than an IPO.
Additionally, ICOs and IDOs offer a high degree of liquidity, as investors can easily trade their tokens on secondary markets.
However, ICOs and IDOs also come with a number of risks. For example, many ICOs have been found to be scams, where the companies behind them have simply taken the money and disappeared. Additionally, the volatile nature of the cryptocurrency markets means that the value of ICO and IDO tokens can drop significantly after they are sold to investors.
Investors considering participating in an ICO or IDO should carefully research the project before investing. They should also be aware of the risks involved, and only invest what they can afford to lose.
In the world of digital coin investments, Vaporware is a cryptocurrency term referring to a project which was never materialized and never reached the wallets of the HODL-ers, not necessarily due to FUD, but due to lack of necessary involvement.
Vaporware is something that a lot of people are very excited about, but in reality, simply doesn’t exist. This was used for the first time in relation to software products. To better comprehend the meaning of slang, consider vapor – it is visible, but it’s not actually tangible.
37. Slippage Tolerance
The slippage crypto term is simply the difference between the expected price of a trade and the actual price at which the trade is executed. For example, if you are trying to buy 1 CAKE at $10, but the order gets filled at $9.90 due to slippage, then your slippage tolerance would be 10%.
Some tokens may also require a slippage tolerance of 20% or even higher, while other tokens like BNB have as low as 0.8%. The lower the slippage tolerance the better.
Slippage is often considered to be a negative thing because it means that you are not getting the price and the amount of crypto that you expected. However, it is important to remember that slippage is often unavoidable when trading on decentralized exchanges. It is simply a part of the tradeoff for having decentralized, trustless trading.
38. Cryptocurrency Mining
Cryptocurrency mining is the process by which a new cryptocurrency is created. Miners are rewarded with cryptocurrency for verifying and committing transactions to the blockchain public ledger.
Ethereum, the second-largest cryptocurrency by market capitalization, is based on a Proof of Work blockchain consensus model. Miners are rewarded with cryptocurrency for their efforts. Ethereum, Bitcoin, Litecoin, Monero, and Zcash are just a few of the many cryptocurrencies that miners can produce.
This requires specialized equipment and significant electricity costs, which is why cryptocurrency mining is often done in large warehouses where electricity is cheap. This is why large mining operations are typically based in countries with cheap electricity, although smaller operations can be found all around the world.