When trading or joining a crypto discussion, you might come across special terms like "to the moon" and "whales". What exactly do they mean?

Cryptocurrency has created an exciting new world for people of various ages and backgrounds. With all the buzz and fame comes unique terminologies that are exclusively used in the crypto sphere. Interestingly, those terms are not only technical but also slangs and acronyms. Most slangs were used by early crypto traders on Discord or Reddit a few years back, but now it has surfaced and become common. For instance, you might see people on Twitter say something like Dogecoin is going "to the moon" or Just "HODL to your Bitcoin a bit longer".

Crypto slang

For novice players, it might be difficult to instantly understand what each slang means, especially now that there are so many of them. But even so, learning this "crypto language" is important to stay relevant within the community. This is why we decided to compile the most popular crypto-related slangs and what they mean.

 

HODL

HODL is a crypto meme that became popular after a user made a typo and misspelled the word "hold". It happened at the Bitcointalk forum and took place during the market turbulence back in 2013. Basically, the user was trying to urge his fellow investors not to sell and just hold on to their coins, but they misspelled it as "hodl". Since then, the term HODL exploded and is often used during price fluctuations in which investors will encourage each other to hold their coins despite the high volatility.

HODL is often associated with Bitcoin. The idea is that the coin's price will continue to rise regardless of huge dips. The term essentially expresses the investors' trust and loyalty to the future of Bitcoin. Apart from the meme reference, now many people also interpret HODL with the acronym "hold on for dear life", which means the crypto holder will hold to the coin no matter what happens.

 

FOMO

FOMO stands for "fear of missing out". The term can be used in various situations in life, but in the context of cryptocurrency, FOMO refers to a psychological condition of an investor who worries about not having an active position while others seem to get huge benefits from crypto trading. This usually happens during a sharp bullish breakout and anxious investors begin debating whether they should buy into the already rising price or not. In a nutshell, FOMO could drive investors into buying the crypto simply because they don't want to be left out and miss the fun.

However, constantly letting yourself be controlled by FOMO is not a great idea. Just because everyone is doing it, doesn't always mean that it's a great investment. It is important to always think clearly and weigh the risks before jumping into the market. Keep in mind that FOMO is mostly associated with the crypto market because there are loads of amateur traders who aim to make a fantastic return only to end up losing money because they only follow the hype and don't have a well-thought plan.

 

FUD

FUD stands for "fear, uncertainty, and doubt". It is a common trick to spread negative sentiment about a particular coin and its future in order to put doubt, fear, and uncertainty into investors' minds, which then could prevent them from buying. This could cause the price of the asset drops.

The people who spread FUD are called "fudders". There are many ways for fudders to spread misinformation in the crypto world, including pointing out bad project leadership, unclear roadmaps, stagnant or falling prices, lack of selling points, low network usage, and unavailability in certain countries.

 

To the Moon

To the moon or mooning is the term that people would say if they believe that the price will see a huge rise. This expression can also be shown by using the rocket emoji, indicating that the price will soar high to the moon. People who are over-enthusiastic about the prospect of a coin going to the moon are called "moonboys/moonbois".

 

Whale

In the crypto world, the term "whale" refers to the people who have a massive amount of a certain cryptocurrency. As a result, whales have a huge power to make changes in the market with their trades. For example, a Bitcoin whale might be a company that owns 50,000 BTC in its holdings, enabling it to move the Bitcoin price should they sell all of their assets in a single trade.

 

Pump and Dump

"Pump and dump" is actually a pretty common phrase that can be used in the context of both stocks and cryptocurrencies. It refers to the illegal manipulation tactic that is used by big investors to trick innocent investors by encouraging them to buy certain crypto, and then leave them to suffer from losses.

Basically, the process is divided into two phases: pumping and dumping. Firstly, the big investors or whales create hype and spread false information to attract new investors, causing the price to rise significantly. This is called pumping. The second part of the plan is dumping, which means selling their massive holdings to earn huge profits from the rising price value. This results in a sudden price drop that leaves the new investors at a huge loss.

 

Bagholder

A bagholder is someone who continues to hold a specific coin regardless of its performance. They are either unaware of the price drop or they're simply too stubborn to listen to their senses and admit that the asset is failing. In the end, these bagholders are the last ones who keep holding on to the failing investment because they refuse to sell those assets.

 

Shitcoin

Shitcoin refers to coins that are simply unprofitable and has no value. The term is loosely used among investors mostly to warn each other about bad coins or investments. However, the categorization is definitely subjective, so every trader may have different opinions about this.

 

Hfsp

Hfsp stands for "have fun staying poor". This is a phrase often used to mock people who don't have any investment in cryptocurrencies, basically saying that they are missing out on the huge opportunity that the crypto world has to offer.

 

Cryptosis

Cryptosis, also known as Obsessive Cryptocurrency Disorder (OCD), refers to the condition where someone is obsessed with cryptocurrency and cannot stop talking about it. The person is so invested that they constantly read, learn, write, discuss, and watch the crypto market all day long.

See also: Top 10 Cryptocurrencies by Market Cap

 

BTFD

BTFD is the acronym for "buy the fing dip". It is used when the asset's price value is currently down and the trader wants to tell others to pick up the digital currency. The idea is to encourage others to buy the crypto coin while the value is low and expect it to rise again eventually. This strategy is related to HODL because it relies on the notion that crypto prices are volatile and there's a chance that it will experience extensive corrections in the future.

 

Shilling

Shilling is the practice of using propaganda or false narratives to promote an investment for personal financial gain. The term "shill" has a negative meaning because it is typically used in pump and dump schemes. Shill can also mean the person doing the shilling, which means they are paid to promote a certain coin for profit. Shills usually have a big number of followers on social media, which might be acquired through paid traffic or cooperating with other shills.

 

Diamond Hands and Paper Hands

"Diamond hands" is a term used to describe people who like to hold on to their coins, so they won't sell the coin easily regardless of the price fluctuations. On the other hand, "paper hands" is used to describe people who tend to quickly sell their position during a price drop.

 

Sats

Satoshis or "sats" are the smallest unit of Bitcoin with the value of 0.00000001 BTC or 100 millionths of a Bitcoin. The term is named after the founder of Bitcoin, Satoshi Nakamoto. This unit of measurement is essential for crypto traders because as the value of Bitcoin keeps rising, it becomes harder for new investors to buy one whole BTC. With stats, they could start small and open a position. There's also the term "stacking sats" which means accumulating satoshis in order to increase a Bitcoin position.

 

When Lambo

Moonboys often ask "when Lambo?" to a project's leadership in order to express concerns about profits from a cryptocurrency. They basically question when the coin price will rise enough that its holder can use the profit to buy a Lamborghini or "Lambo".

 

Degen

A degen is the short version of "degenerate". It refers to a person with a rather risky investment strategy, such as trading with high leverage, investing in risky projects, opening a position in a risky situation, and so on.

 

NGMI and WAGMI

NGMI stands for "never/not going to make it". It refers to a bad market strategy or tactic that won't succeed, such as not HODLing or relying on traditional marketing strategy. Meanwhile, WAGMI stands for "we are all going to make it", which is basically the complete opposite of NGMI. It emphasizes a strategy with high potential to succeed in the future.

 

Gigabrain and Gigachad

Gigabrain refers to someone with an excellent understanding of the crypto world, hence the "brain". Meanwhile, gigachad refers to someone who has done something really impressive that is related to cryptocurrency.

 

Looks Rare

Looks rare is a phrase that is used to say that an NFT may be super rare and thus, valuable. Remember that the value of NFT is determined by its rarity, so if something looks rare, there's a high chance that the asset's value will continue to rise in the future. You might say that your NFT "looks rare" to attract other collectors so you could sell it for a much higher price later.

 

Wagecuck

Wagecuck refers to someone with a full-time regular job. It can be used to describe someone else or used as a self-identity (for those who do have a full-time job in the physical world). Like many other slangs, this one also has a meme. Wagecuck is usually pictured as a person who works at Mcdonald's, which is an example of a thankless and low-leveled job.

The crypto world is a new and fascinating place to learn new things, including new slangs and terminologies. It is fascinating how the industry is able to combine traditional finance with completely new concepts like blockchain so that a new wave of unique phrases could come up. Therefore, it is important to learn about these slangs in order to understand the context in forums and discussions, especially if you're an active member in the cryptocurrency community.