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- Slangs are widely used in the crypto market, so there is a must to quickly learn the most common terms to catch up with fellow traders.
- Most crypto slang originated from daily conversation words such as rekt, IYKYK, DYOR, and FOMO.
- Only a few crypto slangs come from financial terms such as DeFi, Bearish/ Bullish, which requires base knowledge to acquire fully.
Crypto is becoming increasingly popular since most people are now switching their mindset from saving to smart investing. However, the crypto economy can be challenging for new users because there are many complicated concepts to learn.
In this post, we will discover the top 30 common slang used in the crypto world that every beginner must know to quickly catch up with people in the community.
25 most common crypto slangs you should know
HODL
HODL is the abbreviation for “hold on for dear life.” Originally, the word HODL comes from the word “hold,” but the writer might misspell it because of excitement.
During the crypto market turbulence in 2013, user GameKyuubi on the Bitcointalk forum commented that: he had known the price had been crashing and the best resolution was selling all, but he still had not sold. He just “hold on,” although others suggested not to.
Example: I will still HODL no matter how low the price will drop!
Whale
In the crypto world, “whale” refers to users owning a significant amount crypto. Typically, if one is the owner of more than 5% of the total number of tokens available in the recent market, that person can be called a “whale.”
Example: “A whale sold a big position this morning, and as a result, the price of Bitcoin is dropping.”
Cryptosis
“Cryptosis” is the term used for people who are always thirst for new knowledge about cryptocurrency. They read, write, talk, and think about crypto all the time as if crypto is their life’s purpose.
This term is often used between close people because it sounds a bit savage.
Example: “That man is such a cryptosis. He won’t shut up about crypto in any single minute!”
BTD/BTFD
BTD or BTFD are the crypto slangs for “buying the dip.” You will see this comment when someone buys an asset right after its price has fallen.
In the crypto world, people who buy the dip (BTD) believe that the price of the assets they purchase will increase, and if they sell these cryptos, they will gain much profit.
Example: “The common strategy is that: When the price drops down, just BTD first, then later sell it for profits when the price goes up.”
Vaporware
What is vaporware? Theoretically, it is a cryptocurrency project that has been heavily promoted and attracted a lot of interest. However, despite the hype, it is never actually developed.
Example: “I used to invest in a project, but it seems like just vaporware – it gets hyped up but never completed.”
No-Coiner
No-Coiner people are the total opposite of cryptosis ones. They believe Bitcoin is valueless, likely to fail, or a scam. Therefore, they don’t trade or hold any coins themselves.
The community of no-coiner is varied. Some are researchers, writers, and reporters who decide to stay out of the game to remain objective.
Some people become no-coiners just because crypto trading is complicated, so they give up.
And the last group, also the crowdest one, are those who simply don’t trust the mechanism behind crypto.
Example: “I have read many scamming rumors about cryptocurrency. I don’t believe in this notion, so I am a no-coiner myself.”
Fiat
Fiat means regular currency used in traditional finance. For example, the Korean won, British pound, Japanese yen, and Vietnamese dong are called fiat currencies.
Example: “Fiat is influenced by social factors, while cryptocurrency isn’t.”
FOMO
FOMO means “fear of missing out,” – and in crypto, its meaning remains the same.
When it comes to crypto, FOMO is usually used to mention the sense of urgency to trade more, buy more, and sell more coins because everyone is doing that. The users with FOMO are scared that, if they don’t do the same as others do, they will miss out on something big in the future.
Example: “Everyone is buying that coin; I think I need to buy too. The FOMO inside me is too strong; I cannot stop myself!”
Flippening/Flappening
Flippening is the term that refers to the situation when one coin overtakes the market capitalization of another. In the crypto community, this is to mention the time in 2017 when Ethereum (ETH) was expected to beats Bitcoin (BTC) – the leading cryptocurrency – in market value.
Meanwhile, flappening was coined by Charlie Lee one year later to describe the likelihood of Litecoin (LTC) overtaking Bitcoin Cash (BCH). BCH and LTC are applications used for Bitcoins, so Charlie Lee coined the new term “flappening” based on “flippening” to refer to the previously mentioned case.
Example: “I still have a high belief that ETH can flippen BTC.”
Bagholder
The term “bagholder” relates closely to “HODL” because they both refer to the situation of holding too many tokens.
When a person is called a “bagholder,” it means he keeps lots of assets that are dropping quickly in value. Usually, they will keep the tokens even though the price reaches zero because they believe the price may bounce back someday.
Example: “You’d better sell all these tokens. Otherwise, you will be a bagholder!”
Sats
Sats is the abbreviation for satoshis, the smallest unit of Bitcoin. One sats equals 0.00000001 BTC, which means 1 billion Satoshis is equivalent to 10 Bitcoins.
Typically, only some crypto transactions are done in bitcoin units. Many people only trade in Sats-equivalent amounts.
Example: “I bought 10 sats from that new crypto project. Hope that it won’t become vaporware.”
Ape
If a trader buys a token quickly after it was released without conducting much research, then we call that person “ape” or “ape in.”
Those traders can be grouped into two groups: the cryptosis who love everything about crypto, or, they are venture capitalists who believe the assets will bounce up soon.
Example: “He apes in that project too fast – I can never invest so carelessly like that!”
Shill
“Shill” refers to the act of promoting false information or exaggerating about an asset just for their own benefits and “Shiller” is the term to call those scammers.
Example: “I can’t believe I fell into that shilling trap. I wasted money buying such a low-value coin!”
Cryptojacking
Have you ever heard about “cyberjacking”?
According to the Colin dictionary, it means “To alter or use electronic information without permission”. Cryptojacking is similar, except for the fact that the target environment is the crypto assets.
In other words, cryptojacking refers to taking control and using one’s crypto data without their permission. Interpol stated that this action could be considered cybercrime, which is punished by law.
Example: “You should stop doing crypto transactions using public wifi. Do you know that you are at high risk of being cryptojacking?”
When Lambo?
When reading this section, you may think about Lamborghini – the super expensive branded car. You’re right! The term “When Lambo” is related to Lamborghini to some extent.
In the early days of crypto, many traders got rich quickly and could even afford a Lambo car. Since then, having enough money to buy a Lamborghini car has become a standard of wealth in the community.
That being said, when someone asks you, “When Lambo,” it can be considered a sarcasm.
Example: “Congratulations on your smart investment, mate! When Lambo?”
Diamond Hands
Let’s return to the first slang: HODL, to help you understand what Diamond Hands is.
As stated, HODL refers to the state of holding an asset no matter how low the price is dropping. So, the traders who HODL are usually called “Diamond hands.” They will patiently keep their coins regardless of external market conditions.
Example: “Diamond hands traders are long-term investors in this crypto market. I cannot bear them; I’m too scared of the risk!”
Paper Hands
Contrary to “Diamond Hands,” “Paper Hands” refers to those who will sell their assets immediately if they sense a hint of trouble. These people make up a big part of the community, but it makes sense because it is risky to place your trust in an asset you cannot control, right?
Usually, Paper Hands crypto users are swing and day traders who just come to this game for an extra income. They have the habit of panic buying, panic selling, and low-risk tolerating and may exit soon to avoid heavy losses.
Example: “I am a paper hands trader. I will sell all coins if I sense some abnormality. Unlike the diamond hands people, I cannot accept the risk!”
DYOR
DYOR means “Do your own research.” This is a familiar reminder among crypto users, especially for newcomers.
Recently, more and more crypto projects have been coming in, and most of them are promoted strongly as the best to invest. However, before making a deal, every trader needs to DYOR carefully to avoid scamming.
Example: “You should not make a deal so quickly. Remember my advice: DYOR first, buy later!”
IYKYK
IYKYK is famous among young people. IYKYK abbreviates for “if you know, you know,” indicating that a message, a piece of information, or an insight only can be understood by a certain group of people. Any outsider will not understand what they are talking about.
In everyday conversation, IYKYK is mainly used as a sarcasm. If you use this term for strangers, it can be considered rude.
Example: “Seeing her groaning about the market every day makes me sick. It’s a sign of FUD from the competitor, based on my experience. IYKYK.”
Moon/Mooning
“Moon” is used widely in crypto to define an asset with lots of potential.
If a trader invests in a coin and it shows signs of skyrocketing in price in the future, then they can say that the asset will “go to the moon.”
Example: “The prices are mooning. I’m glad that I made the right decision!”
FUD
Standing for “fear, uncertainty, and doubt,” FUD refers to the state of being overly worried about cryptocurrency. Contrary to “shill,” FUD users are the ones who spread negative rumors and fears about the failure of crypto projects.
Typically, FUD traders are not considered “scammers” and shillers. They never exaggerate or spread wrong information. What they do is to cast doubt on some projects, making the “paper hands” feel anxious and overthink together with them.
Example: “Spreading FUD feeling is not a healthy way of competing. Please don’t listen to those negative gossips!”
Weak Hands
“Weak hands” is similar to “paper hands” – they indicate traders with a low tolerance for market risks. If they feel the prices are dropping, they sell the assets immediately to prevent losses.
Example: “Weak hands people cannot stay in this market for long. If I tell them a bad rumor about their coins, they may sell it quickly!”
Bullish
Bull market is the term used to indicate a period of time when stock prices go up. Most investors in such a market are “bullish” or “convinced” that this upward trend will continue in the future.
Example: “The prices keep going upward; I sense the bullish pattern in this market. This is such good news!”
Bearish
In contrast to the “bull market,” “bear market” happens when the bullish pattern reaches its peak and the market starts to go down the slope. In other words, “bear market” refers to when supply is higher than demand, prices fall, and traders don’t have a much optimistic vision about the market.
Example: “Inexperienced crypto investors should not come to bear markets. They could not find many trading opportunities there.”
Rekt
Rekt is a slang word for “wrecked,” which means “very badly damaged.” In cryptocurrency, one is rekt when they experience heavy losses because of poor trading decisions.
There are many reasons to make someone “rekt.” They may be a victim of the “pump and dump” tactic, being manipulated by a Shiller, or simply because they get no luck. Anyone, from beginners to experienced traders, can be “rekt.”
Example: “I am rekt. All of my investments have plummeted in value.”
Final thoughts
We have gone through the top 25 most common crypto slang you should know for more convenient communication while trading in the market. Please bookmark this article since we will continue to update it with more crypto slangs.
