When you started off your journey in the Cryptocurrency industry, did you know what bear, bull, HODL are?
There are little things that you should know about every industry that helps you in understanding and getting along with that specific environment.
Whether you take the entertainment industry, you have things like pack-up, cut, retake, and many others or Devil dogs, Wingnut and cammies in the army, slangs are everywhere.
So, why not take a ride through the Cryptocurrency slang world? This is exactly what we are addressing here, best 25 slang terms every crypto follower should know. If you are a newcomer, consider this as a textbook lesson and if you are familiar already, it’s time to brush up your memory a little bit.
Best Slang terms from the Cryptocurrency World
1. Whale
No, not the biggest mammal on Earth, but we are talking about the giants of the cryptocurrency world who hold a big amount of cryptos. They are the ones having coins in bulk and if they trade with cryptocurrency, the ongoing crypto rates are affected.
2. To The Moon
You can easily guess this one. To the moon literally means the rates have reached the moon, or in simple words, rates have increased substantially.
3. Bear
No, not “baloon” from Jungle Book, but a Bear market or a bearish market is a situation when prices are falling continuously over a certain period.
4. Bull
Bull Market or Bullish market situation is just the opposite of the Bear market when prices are increasing over a period of time.
5. Long / Short
The long position is the one where a trader buys cryptocurrency at a particular price with great faith that the price of that currency will rise. So, they keep it for a longer time.
A short position is opened when a trader buys cryptocurrency with a view of selling them in a short period. This position is preferred if the trader thinks the price of the concerned currency will fall.
6. Bagholder
This term is concerned with altcoins. When a trader keeps altcoins in his portfolio for so long that their value falls or decreases ultimately is said to be a bagholder.
7. Nocoiner
This is something that you don’t want to be. A person who doesn’t have any coins and missed the opportunity to buy them at a lower price thinking it was a scam is called Nocoiner.
8. Cryptodigger
Sounds familiar? The meaning is familiar too! A cryptodigger is any man or woman who sets up a relationship with someone based on their cryptocurrency success.
9. FOMO
This is a phobia of missing out on a profit-making opportunity. You know the feeling when you missed out on buying bitcoins when the price was low, yes that is FOMO.
10. Hodler
No, the spelling isn’t wrong, it is indeed holder. A person who holds cryptocurrency and doesn’t sell them is called a holder.
11. Cryptoland
It is a term defining the entire network and ecosystem of cryptocurrency including blockchain technology. It isn't dependent on any third-party, but it is characterized by the adoption of open-source protocols which are incentive-capital withing networks.
12. FUD
FUD or Fear, Uncertainty, and Doubt is a psychological tactic in which such information is presented (for a product, or organization) to you which invokes fear, uncertainty, and doubt in your mind regarding the concerned subject. It is majorly used in marketing campaigns of rivals.
13. DYOR
It stands for Do Your Own Research. It is a very important practice that you should follow if you are trying to make your life in the world of Cryptocurrency. Never trust any suggestion or a research report before you do your own, not even of the ICO-project teams.
14. Faucet
A faucet is a website that allows you to earn free cryptocurrency from time to time. You can enroll or enter these platforms for free with the help of your email.
15. Shitcoin
A cryptocurrency that has little or a very nominal value is called shitcoin.
16. Airdrop
The free distribution of tokens to everyone on their sign up is called an airdrop. Normally, tokens are used to popularize a debutant crypto coin in the market which is not available on exchanges.
17. Bug Bounty
A program run by various crypto websites and software developers within which people are often rewarded with crypto (not always) for finding bugs, and other vulnerabilities.
18. Weak hands
People who can’t handle the pressure when the value of their crypto investments start to decline for a lower price and end up selling them to decrease the value, even more, are called weak hands.
19. Gas
The transaction fee is called gas.
20. Exit Scam
This is some sort of money business and a deceitful practice where a project raises money during or after the ICO and then they completely disappear. Often the managers and developers aren’t aware that they are a part of an exit scam.
21. Crypto-coaster
It is a term used to describe the upwards, downwards, and steady trends in all cryptocurrencies.
22. HODL
This term means holding a cryptocurrency even when it has crashed, in the faith of future growth. This term actually came up when a holder made a mistake in writing HOLD, giving birth to the all popular HODL back in 2013.
23. Cryptocripple
When a crypto exchange or coin base restricts a part of your account due to any problem caused but you can trade with your current purchase is said to be cryptocripple.
24. This is Gentlemen
Another typo leading to a popular term used today, This is Gentlemen is used to pointing out good things. Originally, it was “This is it, gentlemen”.
For example, if someone gives you a helping hand, this is gentlemen. If someone gives you a tip and it works, this is gentlemen.
25. ADDY
And lastly, this is something that you must know. Addy is a term for public cryptocurrency addresses, i.e. key. So, the next time someone asks you what’s your addy, you know he’s asking you about your key.
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So, this was it! The cryptocurrency world is fun, challenging, and highly rewarding. If you know the terms, you can actively participate in conversations and better understand the news, blogs, and information on cryptocurrency. Which slang do you use the most, let us know in the comments?
