Cryptocurrency Slang And Crypto Terms

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Disclaimer: Crypto is a fast-paced economy and things change quickly. Information on this post might be outdated even if written today. Do your own due diligence and stay safe. I might get affiliate commissions for purchases made through links in this post. Read the disclosure.

Alpha Gained:

FOMO

Fear Of Missing Out (FOMO) is not specifically a term only used in the crypto space but is something that many in the crypto space experience very quickly after entering in. Crypto space offers so many opportunities to make money and it feels like there’s only that one opportunity that if you don’t take it, you will miss it. Making you FOMO into a project, coin, or a token and possibly get rekt soon after doing that.

The crypto world moves fast and opportunities also move fast, coins pump and dump, and for you to catch the pump you usually FOMO in. What should be remembered is that the crypto space offers opportunities almost every single minute, so there’s really no reason to hurry into projects to make money.

HODL

Hold On for Dear Life (HODL) term is massively used in the crypto space. The term got popular when a user misspelled the word “hold” on a popular Bitcoin forum and soon everyone started to use HODL instead of hold.

HODL means holding a coin to the end or buying a coin that one has a high conviction on. When someone hotels a coin, they believe the coin will pump and make them wealthy either in the short-term or in the long term. Because in crypto, holding a coin for a few months can already be considered a “long” holding period.

FUD

Fear, Uncertainty, And Doubt (FUD) word is widely used as a psychological way of saying that someone is creating doubt towards a certain project or a protocol. When someone is creating FUD, what they are creating is unneeded doubt towards the topic at hand. Usually, news creates FUD against crypto adoption or towards Bitcoin.

But when someone is creating FUD against a certain protocol or a project, it usually tells that a person isn’t certain about a specific project or sees that this project is even harmful to users. So when you see in a discord channels rules that FUD is not tolerated, it means that the channel or the project does not want nonfactual statements towards their project.

Whale(s)

A whale is an entity that has a large position in a specific cryptocurrency. When we are talking about Bitcoin, an entity owning more than 1,000 BTC is considered a whale. When it comes to other cryptocurrencies, the number can be anything, but the rule of thumb is that when an entity has a very large number of tokens in its possession, then that entity is a whale.

A whale is also someone who can move the market in any given way, either up (by buying a lot of tokens) or down (by selling a lot of tokens). Whales are still a part of the cryptocurrency and the reason for that is because the crypto market is still very new and there are not enough participants in the market to smooth out the price fluctuations.

Pump And Dump

Way too often we see a coin or a token in cryptocurrency pump to high price valuation only minutes after being dumped to a very low valuation. This kind of pump and dump scenario can be created by creating a massive hype for a coin or a token and when the price has appreciated enough the people behind the price pump, sell their positions instantly, making the price dump hard and making people lose all their money.

Pump and dump schemes are very regular in cryptocurrencies (but usually only seen on decentralized exchanges (Uniswap, Sushiswap) and not so much in centralized exchanges (Binance, KuCoin, Coinbase)) and people lose a lot of money because of these every single day. Smaller unknown tokens experience this kind of behavior the most.

Buy The Dip (BTD or BTFD)

Buy The Dip (BTD) or Buy The F****g Dip is used when a coin or token dumps hard to the downside and an opening is presented to enter the trade at a very low price valuation. Cryptocurrencies suffer a lot of price fluctuation and these massive price fluctuations create openings for one to pick up quality coins for cheap.

But there’s also the scenario when a dip comes, but instead of the price bouncing back up, another dip comes and another one. Making the buy the dip a bit harder. So it’s not a bad idea to DCA (dollar-cost-average) while the price keeps going down. However, what makes it even harder is the fact that these coins that dump hard, might never come back up. So it’s essential to know what coins to buy when the dip happens.

KYC

Know Your Customer (KYC) is a form of identity verification procedure required in many centralized crypto exchanges. KYC ensures that the centralized exchange like KuCoin knows who they are dealing with and also the SEC (Security Exchange Commission) requires that exchanges implement this procedure when they onboard new users to their platforms.

The KYC procedure defeats the purpose of an anonymous decentralized economy, but currently, KYC is something that the majority of the centralized exchanges require from a user and it probably this requirement won’t be changed anytime soon.

Bagholder

Bagholder is the person who bought at the top (the coins or tokens price being at the very peak) only to see the price dropping a few minutes after. Leaving the person as a bagholder. This also emphasizes the event where you are left with a bag of coins or tokens that bear no value as the price pummeled down. Don’t be the bagholder.

Shill & Shilling

Shilling is the event where a person, group of people, or some entity promotes a coin or a token for their own benefit. Shilling is used in a negative way and is something that isn’t seen as good behavior in the crypto space. Shilling happens mostly through influencers on Twitter or YouTube or in private Discord and Telegram groups. 

Shilling is about promoting coins and tokens in order to make the price go high so a pump and dump scheme can be placed on it. Shilling makes cryptocurrencies pump, but the aftermath is usually a steep downward trend that can’t be stopped.

Rekt

Rekt is used to describe when your portfolio or some specific coin or a token suffers a massive downtrend in price action, getting you rekt. Rekt is intentionally misspelled and comes from the word “wrecked”. So we could say that after a coin is shilled to the moon and it experiences a pump and dump scheme, getting you rekt and leaving you as a bagholder.

Flippening Or Flippenin

Flippening is about the concept of Ethereum flipping Bitcoin in terms of market cap. Bitcoin is at the time of writing the biggest coin regarding market cap. Every once in a while, Ethereum experiences massive price appreciation, making Ethereum’s market cap bigger and bigger and at this moment we hear talks of flippenin or flippening. Meaning that Ethereum becomes the number one coin and making Bitcoin the second-largest cryptocurrency. This would also mean that Bitcoin would become an altcoin.

Altcoin

Altcoin a.k.a Alternative Coin to Bitcoin. Altcoins are all the other coins than Bitcoin. Ethereum is an altcoin and so are all other coins in the whole crypto space. This also signifies Bitcoin as the king of all cryptocurrencies and the only coin that has some value. Bitcoin is currently the most valued coin in cryptocurrency and so all other coins are just alternatives to Bitcoin. Whether Bitcoin has any value or whether altcoins have any value is a matter of opinion.

No Coiner Or A No-Coiner

A No Coiner term is used for a person who does not own cryptocurrency and also feels pessimistic about cryptocurrency and the future of cryptocurrency. A no coiner can also be a person who doesn’t yet have holdings in cryptocurrency but would like to have in the future.

Cryptosis

Cryptosis happens when a user slowly or suddenly gets excited about cryptocurrency and can’t stop talking, writing, or researching about it every single day. This user starts to consume crypto space at an overwhelming pace and gets deeply invested in it. This person has some serious cryptosis, but it isn’t determined whether it’s a bad or a good thing.

Sats Or Satoshis

Bitcoin was invented by a person who called himself/herself Satoshi Nakamoto. Sats and Satoshis come from the name Satoshi and are the smallest unit of Bitcoin (0.00000001 BTC). There’s also a popular term, “stacking sats”, referring to a person or an entity who is staking Bitcoin and therefore growing its Bitcoin position. We could say Michael Saylor is one who is stacking sats.

Also when people are trading cryptocurrencies, one could say that they are exchanging one coin for this and that amount of Satoshis.

Bitcoin Maxi Or Bitcoin Maximalist

Bitcoin Maxi is a person who believes Bitcoin is the only cryptocurrency worth owning or that Bitcoin is the only thing worth owning on this planet (regarding equities, securities, material, money, etc. – economic-based items).

Bitcoin maxi is a massive advocate for Bitcoin and believes everyone should own some amount of Bitcoin. Yet again, Bitcoin maxi is not considered to be a good or bad thing but a person who strongly believes in Bitcoin and its future.

Wen Lambo Or When Lambo

Buying a Lamborghini (supercar) has become a meme in the crypto space, because a lot of people make a ton of money in crypto, and thus being able to buy this luxury vehicle for themselves. When someone uses the words Wen or When Lambo, they mean that they are expecting the price of a particular coin or a token to pump soon, so they can cash out and go and buy themselves a Lamborghini.

It’s not about buying the actual car, it’s more about the expectations that a coin or a token will have massive price appreciation. Wen is intentionally misspelled from the word “when”, making the meme even more hilarious.

Vaporware

Vaporware refers to the cases where a sexy new thing, idea, or concept is presented to the crypto space, but more than likely will never see the daylight or actually come to fruition, making the mentioned coin or a token, vaporware.

SAFU or Safu

SAFU (Secure Asset Fund For Users) was established by Binance in 2018 as an emergency fund to protect users’ funds. However, Safu holds another meaning in crypto also. When a new project is launched (usually in decentralized exchanges) a person can be noticed making a joke or being serious (think about the context) about the project being safu. It means that the money you invest in the project is safe and that the project isn’t a rug pull.

However, as the word safu is also used as a joke, the context where it is said should always be considered. Safu can also mean, that the money you invest will definitely not be safe in this project.

DYOR (Do Your Own Research)

DYOR (Do Your Own Research) is often used in the crypto space and the reason why this is the case is that the crypto space is filled with scammers and projects that drain liquidity (money from liquidity pools) as soon as it gets that. DYOR is often emphasized because the crypto space is new, but also because the projects work on smart contracts and those smart contracts might have loopholes or rules that make you lose your money.

It is the complexity of the crypto space that makes researching a valuable habit and something that should not be overlooked. Doing your own research is preferred as then you have made your own conclusion on whether a project is worth investing in or not.

NFA (Not Financial Advice)

NFA (not Financial Advice) is as often used in the crypto space as is DYOR. This term emphasizes that even if one person thinks that a project is worth investing in, you should still not take that as financial advice. Also giving financial advice in some cases is considered illegal. NFA is said to make sure you don’t just ape into a project without doing your own research first.

LFG! (Let’s F***g Go!)

LFG! (Let’s F***g Go!) is often used to state a person wants a certain project to just go on and fly to the moon. This person wants the coin, token, or a project to take off and get some serious price appreciation.

LFG is also used to state that things should get rolling and move forward faster than slower. Sometimes projects feel like they are lagging in development or progress and in these scenarios one could yell LFG!

Anons

Anons mean anonymous persons in the crypto space. When someone says “hey anons”, it means they address the people that are anonymous in the crypto space, but also, especially people who are into crypto. Usually, this term is used on Twitter. 

IRL (In Real Life)

With the inevitable rise of the Metaverse, people started to use the term IRL (In Real Life) bringing back the fact there is this real life too. In Real Life refers to the physical world, while also acknowledging that there is the Metaverse and the digital world out there.

WAGMI (We Are Going To Make It)

WAGMI (We Are Going To Make It/ We Are Gonna Make It) is used to insert faith into crypto and/or in some particular coin, token, or subject. WAGMI is a positive statement and something that is used to make people keep their faith and hope up in a certain moment. WAGMI can be used in many contexts, but one is definitely when coins or tokens price is going down drastically.

NGMI (Not Gonna (Going To) Make It)

NGMI is used in a negative way, usually stating that a certain person is not gonna make it. Usually, NGMI is used, when someone wants to say that the person is either wrong or does not have a good outlook on things. When someone is being negative or pessimistic towards a certain project, while the other person thinks differently this person can then say NGMI to the person doubting the project. This is to state that the other person is either wrong or does not have all the needed facts in their possession.

Ape, Apein, or Apeing

Apein, Spring, and Ape, in general, are used in crypto to describe a person or an act where this person (ape) is shelling a lot of money into a project without doing needed research before doing so. Apein is about investing a lot of money in a project, which might perform well or very badly. Usually, when apeing happens, people haven’t done enough research and just gamble their money in crypto.

GLHF (Good Luck Have Fun)

GLHF (Good Luck Have Fun) is not only a term used in crypto but is highly suitable to crypto space. Crypto space is fast-paced and innovations pop up left and right, creating a lot of opportunities. When someone says GLHF, usually what they mean is that the one investing in a project might just get rekt, instead of becoming wealthy. GLHF is not a term of good or bad, but just a saying in the crypto space.

Chad(s)

Chad is often seen in the crypto space as someone who is popular, handsome, and someone who is generally successful with women. Chad can be seen as a compliment when said to another person.

CT or Crypto-Twitter

CT in Twitter means Crypto-Twitter. CT refers to the massive subculture of smart contract developers, crypto traders, crypto investors, influencers, speculators, and bloggers who spend a massive amount of time on Twitter tweeting about all things crypto.

CTs tweet about Bitcoin, altcoins, blockchain innovations, decentralization, rug pulls, latest meme tokens, and everything under the roof of cryptocurrency.

Jeeter(s)

A Jeeter is someone who gets into a project, whether it’s new or old, and sells immediately after getting some profits in the range of 1.5x or something. Jeeters are people who can not wait for the project to grow and make a sizeable profit, instead of holding, the jeet asap. Jeeter is a person who sells their position too hastily.

OG

OG is a pop culture reference to ‘Original Gangster’ or ‘Original Gangsta’. The OG term is usually used to describe people that have been in the crypto space after the 2013-2014 Bitcoin bear market. OG is a person who has been in the crypto space for a very long time and before crypto became more known in the world.

Degen (Degenerate)

A person in the crypto space who gambles a lot of money into any crypto project suitable for degening. This person might or might not know anything about the crypto project or protocol and still decides to spend a large amount of money on it, in the hopes of making millions from it. When a person degens into a project, they are blindly trusting that they will become millionaires or massively wealthy with the project.

Your Funds Are Sifu

Sifu (nickname) was an “anonymous” treasury manager for a project called Wonderland (fork of Olympus). Wonderland was an enormous success in the Avalanche blockchain and gained massive treasury for the project. Later on in the project, it became evident that the treasury manager (Sifu) was a former felon and this spurred up some massive price action for TIME and wMEMO tokens as people sold their tokens on the market. When people say jokingly that funds are sifu they refer to that your funds might or might not be safe. The overall tendency is that the funds are not safe.

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Written By Juha Ekman

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