FUD, HODL, REKT… No, we’re not having a stroke. We’re talking about some of the most popular crypto lingo terms that people use within the crypto community. If you have no clue what any of them mean or how to use them in a sentence, we got your back!
The cryptocurrency world has developed its own unique language, including crazy-sounding new slang terms, so grab a pen and paper ( scratch that, we mean your Ipad and the tech pencil, or whatever people use these days), and let’s learn the cryptocurrency slang!
FOMO in the crypto market
FOMO stands for “fear of missing out.” You’ve probably heard this one before, as it doesn’t refer only to the crypto world; it’s part of the mainstream culture. FOMO relates to the fear that crypto investors might experience when market prices are rising fast in the cryptocurrency space. People can feel anxiety over not buying crypto assets before the price surges, and FOMO can lead to trading decisions made on an emotional level instead of a logical one. Having a clear investment strategy can help you avoid FOMO.
DYOR - Do your own research
This acronym is used extensively when it comes to crypto. Whether you are searching for the best decentralized exchange or looking for a new cryptocurrency project to put your money into, DYOR is of the essence. Research everything carefully, gather as much information as possible, and make decisions accordingly.
FUD - Fear, uncertainty, and doubt in the crypto space
Another popular crypto slang term, FUD, refers to negative news regarding cryptocurrencies that are spread as a way to discourage crypto investors and thus drive the price of a coin, or the entire market, down. But, remember, when in FUD, DYOR!
HODL - Hold on for dear life
Buckle up, fellow crypto enthusiasts! It’d time to HODL! This acronym refers to a strategy of buying tokens and holding on to them no matter what fluctuations occur in the market. Whether the crypto’s price skyrockets or plummets down, traders who practice HODL will keep their coins and resist selling them.
Diamond hands vs. paper hands
A crypto investor with diamond hands will hold on to their crypto for as long as possible without selling at the first sign of a price surge. On the other end of the spectrum, traders with paper hands or weak hands sell their coins as soon as a coin’s price starts falling.
Pump and dump
A pump and dump scheme is a tactic used by groups of crypto buyers who want to manipulate the market. The group buys large quantities of a specific cryptocurrency, increasing the price and value of that token. After that, they sell the crypto at this new higher price, making a massive profit out of it. As a result, the price of the coin drops dramatically. Cryptocurrencies with small market capitalization are more prone to suffer from pump and dump schemes.
REKT refers to that horrible feeling a person could experience if their cryptocurrency has plummeted in price, making him suffer major money losses. It comes from “wrecked,” a term often used in gaming to describe when a player’s character gets destroyed. For example, if you become the victim of a pump and dump and lose all your coins, you’re REKT.
Going to the moon - not a Savage Garden song
When a digital currency experiences an upward trend of value increase, you say it’s going to the moon or mooning. In the beginning, the term was used in relation to Bitcoin’s ability to increase in price. Over time it has spread to encompass any currency that has the ability to rise in price significantly.
There’s a potential downfall to HODL, and it’s represented by the phrase “bag holder.” It refers to a person that holds on to their crypto without further trading to the point that the coin becomes worthless. When investing in a digital currency, it’s vital to understand the market’s volatility and how to adapt your transactions accordingly.
Sats or Satoshis are the smallest units of a Bitcoin. The term comes from the first name of Satoshi Nakamoto, the anonymous founder or group of founders of the Bitcoin cryptocurrency. One Bitcoin equals 100,000,000 Satoshis.
Shitcoin - not a coin you’ll want
If a token is called a shitcoin, it means it has no value and no use case. People use this term quite liberally, so depending on who you ask, you might receive different examples of crypto they consider to be shitcoins.
A prominent question in the crypto sphere, “ When Lambo?” relates to an investor’s musing on when he will be able to buy a Lamborghini from his crypto profits. It’s mainly used as a joke on Social Media and can sometimes be seen under this form: “Wen Lambo?”.
You’re now up to speed on the most important crypto slang terms that all the cool kids are using right now (and by cool kids, we mean crypto investors galore). Now that you can talk the talk, it’s time to walk the walk. Are you ready? LFG (let’s freaking go)!
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