In crypto, FUD is an intentional act of inciting widespread anxiety, apprehension, and skepticism about a specific project or crypto as a whole to manipulate the market. If FOMO spreads faster in a bullish market, FUD spreads more easily when markets are cooling. If FUD drives people to sell, FOMO makes them buy too late. Fear of Missing Out is that familiar pit in your stomach when a coin’s price rockets and everyone seems to be cashing in but you.
FOMO stands for “Fear Of Missing Out,” a common feeling in the crypto market. In crypto, it describes the panic feeling you get when prices start rising fast and you worry you’ll miss a big opportunity. It makes people buy impulsively as the market goes up. If you see a coin “going to the moon” and you buy just so you’re not left out, that’s FOMO related to the hype around certain cryptocurrencies. In practice, FOMO can cause big price swings in the crypto market because everyone jumps in at once. Crypto slang is like its own language for talking about digital money and transactions.
- Shills attempt to artificially increase demand and, eventually, the value of the digital asset.
- It’s a quick way of stating you’re just providing information, not personalized investment advice.
- Rug pulls occur when scammers develop a new cryptocurrency, persuade people to invest in it, and then suddenly sell it off, leaving investors with useless tokens.
- A phrase that epitomizes crypto dreams and moonshot gains.
- In the crypto space, many traders use PFPs from collections like CryptoPunks or Solana meme NFTs to show allegiance to a project or signal status in a community.
Up and to the moon is the ultimate destination for every crypto investment. A whale is someone who owns massive amounts of cryptocurrency – enough to potentially move market prices with their trading decisions. These could be early Bitcoin adopters, institutional investors, or just really wealthy individuals. Diamond Hands describes investors who hold their cryptocurrency positions no matter how volatile the market gets. These are the people who don’t panic sell during crashes and stick to their long-term investment strategy.
Most of the time, Ethereum has been the second most expensive coin, but its market cap has always been less than Bitcoin’s. Pump and dump is considered fraud and is illegal in many places, including the United States. The Bitconnect scam is an example of pump-and-dump because the value of the coin was intentionally inflated, mostly through social media, before the whole platform was revealed. “Do your own research” (DYOR) is a short way to say that you should not take anyone else’s financial advice and should study things on your own before investing.
- Instead of taking the loss and walking away, it pushes traders to stay focused, stay learning, and stay patient (even when portfolios bleed red).
- When the markets get rough, and you start feeling nervous about your funds, remember that some exchanges have a SAFU (or a similar fund) to protect users from unforeseen events.
- If a project says it’s an ERC-20, you’ll need an Ethereum-compatible wallet like MetaMask to trade or store it.
- In crypto slang terms, GM stands for Good Morning, serving as a warm greeting that promotes positivity and a sense of togetherness within the community.
- Mooning events create incredible excitement in crypto communities.
- A shitcoin is a cryptocurrency with little to no value, utility, or future potential.
What is the difference between a crypto exchange and a brokerage?
Flippening refers to a hypothetical situation where Ethereum overtakes Bitcoin regarding market capitalization. Flappening is a similar term coined by Charlie Lee in 2018 to describe an analogous situation whereby Litecoin (LTC) surpasses Bitcoin Cash (BCH). Double-spend refers to a fundamental problem of a digital cash protocol whereby the same digital token can be spent twice.
Utility Token
Furthermore, terms like “minting” (making a new NFT) and “gas fees” (transaction expenses on the Ethereum network), for instance, became widely used when NFTs gained popularity. Slang terms like “bagholder” and “weak hands” become prevalent in downturn markets, indicating a more cautious attitude. Phrases like “moon” and “Lambo,” which allude to the wealth that cryptocurrency might provide, regain popularity during bull markets. These traders simply follow signs and FOMO into price pumps before entering a trade.
Understanding the Language of Cryptocurrency
These are just short ways to talk about optimism or doubt in investments, especially in the volatile cryptocurrency market. Terms like “HODL,” “diamond hands,” or “rekt” describe what happens when people hold, lose, or stick with their cryptocurrency holdings through volatile price swings. WAGMI is short for “We’re All Gonna Make It,” and is a crypto slang that perfectly captures crypto’s optimism.
Tokens
For example, someone may say “wat mean” to make fun of people asking stupid questions. A smol or smooth brain is the opposite of a gigabrain and describes someone who doesn’t know something that’s assumed to be common knowledge. A “rug pull” is a type of scam where developers abandon a project before its completion, leaving buyers with worthless crypto.
Crypto Slang 101: A Quick Cheatsheet for New Investors
They reject all other cryptocurrencies as mere imitations, making them the ultimate Bitcoin fans. A phrase used to acknowledge a bad investment decision or a project that flopped. NGMI is all about hopelessness, frustration and disappointment. All you can do now is learn from your mistakes, and keep pushing forward.
Weak Hands
It includes things like HODL, FOMO, and many others mentioned above. It’s basically a special crypto vocabulary that investors and enthusiasts use to talk quickly about concepts. Another piece of advice is to bookmark well-known crypto forums and glossaries like CoinMarketCap and Coingecko, as they frequently add new terms. Interacting with these communities gives you insights into the mood of the market in addition to teaching you new vocabulary.
This gives the hacker access to the victim’s device and personal information. A cybercrime known as “cryptojacking” occurs when a criminal secretly creates cryptocurrency using a victim’s computer power. If someone talks badly about a coin, it becomes known as a “shitcoin.” It can be crypto slang any currency, even Bitcoin. The reason could be a lack of new ideas, bad communication, slow progress, or the fact that that person thinks another coin is much better. If this is not enough, though, you can find over 1,000 more terms on BitDegree’s crypto glossary.
A wagecuck is a somewhat insulting term that describes someone in regular employment. For example, if you work from 9 to 5, then, sorry, you’re the one 😏. A wagecuck, like almost everything else in crypto, has its own meme, which usually depicts a person working at McDonald’s, a poster child for demeaning and thankless employment. No-coiner is a derogatory term that describes a person who’s highly skeptical about crypto and believes it’s doomed for failure. Mining describes a process of generating and releasing new coins and verifying transactions.