Popular Slangs Used in Cryptocurrency World
The cryptocurrency world can be very confusing, as a lot of slangs and abbreviations are used regularly, especially in articles. Newcomers to the cryptocurrency space find it difficult to understand these slangs, so we decided to compile a list of popular slangs used in the cryptocurrency world to help make understanding easier for newbies and even veterans in the space who may be unaware.
FOMO (Fear Of Missing Out)
When FOMO is used in the cryptocurrency world, it means an obsessive phobia of missing a profitable opportunity. The slang, surprising to know, has been added to the Oxford English Dictionary.
ATH (All-Time High)
This term is not only used in the cryptocurrency world, but its use became quite popular there because of several coins creating new price points that had never been traded before. Bitcoin, Ether, ADA, Doge, BNB have all created ATHs this year.
HODL
“HODL” means holding a coin even if it crashes, and awaiting further growth. This term was trending in the recent cryptocurrency crash that happened on the 19th of May, 2021.
The slang came to be on a Bitcoin talk forum in 2013, where a user made a typo in the word HOLD (hold), writing the word HODL in his panic.
Cryptoland
“Cryptoland” is a term that refers to the cryptocurrency ecosystem, including all blockchain technologies.
FUD (Fear, Uncertainty, and Doubt)
This term is used in the cryptocurrency world to describe a psychological trick used to spread doubt and fear, which could cause a certain coin, or the entire cryptocurrency space to drop in price.
DYOR (Do Your Own Research)
The cryptocurrency world is full of a lot of unknowns and uncertainties. This slang prompts investors in the space to do their research before making any investment decision relating to cryptocurrencies. It is possibly the most important dogma in the cryptocurrency world.
Cryptoloot
This refers to the common name used to describe all cryptocurrencies.
Cryptosis or OCD (Obsessive Crypto Disorder)
This refers to a desire to absorb every bit of information about cryptocurrency. It is a non-life-threatening disease that is caused by cryptocurrency hype. Symptoms include constant talking, reading, and listening to info regarding cryptocurrencies, usually accompanied by purchasing bitcoin or altcoins.
To the Moon
“To the moon” means that the price has risen drastically, reaching the peak value. It’s usually used when a certain cryptocurrency has done over 100% increase within a short period.
Whale
“Whale” is used to describe an investor who owns five percent or more of a particular cryptocurrency’s coin in circulation. For instance, a whale in Bitcoin will be someone who owns 5% or more of Bitcoin’s 18,713,700 circulating supply. This whale would be someone who owns at least 935,685 units of bitcoin.
Pump and dump
Pump and dump is a tactic used by groups to manipulate the sentiments of the crypto market.
Rekt
“Rekt” means to sell the crypto too soon or late. In other words, to suffer losses without coping with emotions.
Gas
Refers to transaction fees on the Ethereum network.
Shitcoin
A Shitcoin is a cryptocurrency that has no utility or unique feature. It is considered a bad investment based on one’s subjective opinion. The term is also used to describe coins that do not serve any particular purpose other than being a means of exchange.
Sats
This is short for “Satoshi,” the pseudonym used by the bitcoin creator. It refers to the smallest unit of bitcoin stored on the blockchain. Satoshi refers to one hundred millionth bitcoin (0.00000001 BTC).
Shill
Shill is used when a person promotes a specific digital coin or blockchain project. Shilling in the world of cryptocurrencies is part of a marketing ploy to bring awareness to certain coins that may or may not hold any value. This is why investors are advised to DYOR.
Mainnet
Mainnet is a blockchain that conducts real operations with cryptocurrency, forwarding them from senders to recipients.
AirDrop
AirDrop is a free distribution of tokens. Tokens can be used to popularize a completely new coin, which is not yet on the exchanges. So far, only preliminary sales of tokens are carried out.
Source: nairametrics