With cryptocurrency becoming increasingly popular over the past few years, people interested in this digital currency have created insider slang to communicate with one another. Let’s look at some of the most used crypto terms that you should probably know.
Examples of Crypto Terms and Phrases
1. Whale
This is someone who owns at least 5% of a given cryptocurrency.
Example: “James is now a huge whale because he got into Bitcoin in 2012.”
2. HODL
The term HODL started with a typo online, and the community assumed the person was saying Hold on For Dear Life. It means not selling crypto in a panic just because the market dropped.
Example: “Don’t be impatient, a serious crypto investor knows when to HODL.”
3. REKT
It’s what happens when the price of a crypto coin drops and investors lose a lot of money in the process.
Example: “Most people are complaining because Dogecoin had them #REKT.”
4. Bag Holder
A person who keeps their near-worthless crypto coin after its price has drastically gone down.
Example: “I know Dogecoin is going through a slump now, I’ll be a bad holder for now.”
5. To The Moon!
It’s a celebratory cry by crypto investors to signify a rise in price in their respective coins.
Example: “Ever since I started investing in Bitcoin, I can’t complain. To the moon!”
6. Altcoin
Other crypto coins have a different set of rules from Bitcoin.
Example: “There are at least 1000 altcoins listed on CoinMarketCap.”
7. Shill
A person that wants to tell you an altcoin is better than the one you have.
Example: “When the price of Bitcoin started going down, the shills were celebrating on Twitter.”
8. Vaporware
An overhyped coin whose price only goes down because there is nothing to back it up.
Example: “Many people believe that Dogecoin was vaporware.”
9. Bear/Bearish
A person or behavior that believes that digital currency is just a fad and will eventually depreciate.
Example: “Many politicians are very bearish on cryptocurrency as an alternative.”
10. Bull/Bullish
These are opposites of bears. They have faith that an asset will appreciate over time.
Example: Millennials are total bulls on matters concerning crypto.”
11. Cryptosis
It’s spending a lot of time learning about crypto and buying crypto in the process.
Example: “I have been indoors the whole weekend in cryptosis.”
12. Sats
One Sat (Satoshi) is 0.00000001 BTC, the smallest unit of Bitcoin.
Example: “I’m not a real investor, I have like a sat in my wallet.”
13. When Lambo?
A phrase is used when someone asks when you will make a lot of money and buy a Lamborghini because people see crypto as a get-rich-quick scheme.
Example: “When people hear that you invest in crypto, they wonder, when lambo?”
14. Nocoiner
It refers to the skeptics and cynics of cryptocurrency.
Example: “The recent boom in Etherium must be killing the nocoiners today.”
15. DYOR
“Do your own research” is standard advice given to crypto investors instead of listening to everyone in the community.
Example: ”If you do your own research, you won’t get rekt.”
Do You Know a Little More About Cryptocurrencies Now?
Because of the constant evolution of digital currency, you might never exhaust the number of new slang you have to learn on the topic. With more young people embracing investing in crypto, expect even more hip new terms. Nothing should deter you from wanting to learn and start trading with cryptocurrency. Which Crypto terms would you like our team to feature?