Original author: Paxful Team
1. FOMO (Fear of Missing Out)
FOMO is short for fear of missing out and can be used in everyday life. It refers to the sense of urgency to buy Bitcoin when everyone else is talking about it.
2. Shill
Shilling refers to promoting cryptocurrency for one’s own personal gain. Although the term did not originate in cryptocurrency, its use in the space has become popular.
Shill’s people may have invested in a certain cryptocurrency, but it is not performing as well as expected, so they will try to convince others to buy it and drive its price up. It all comes down to personal gain.
3. FUD (Fear, Uncertainty and Doubt)
FUD is an acronym for fear, hesitation, and doubt, and refers to the negative feelings people spread about Bitcoin.
4. HODL
HODL is probably the most popular slang in Bitcoin circles. It refers to holding on to your BTC regardless of price fluctuations. The term originated from a typo, where a user meant to type hold but accidentally misspelled it - probably out of excitement. Then, people took advantage of the mistake and turned it into an abbreviation for hold on for dear life.
5. Rekt (Destruction)
Rekt refers to the rock bottom feeling that people experience when they suffer significant losses due to a plunge in the value of cryptocurrencies. The term comes from the word wrecked, which is often used to describe gamers being completely wiped out. So when someone loses a large amount of money in cryptocurrencies, they are rekt.
6. Going to the moon
Moonshot refers to the belief that the price of Bitcoin will experience a massive surge in the future.
If you say Bitcoin is going to the moon, you are saying that you believe your investment will have a good return in the future.
7. Whale
A whale is someone who owns a large amount (usually 5% or more of the total supply) of cryptocurrency.
8. Pump and dump
Pump and dump refers to a strategy used by a group of cryptocurrency users to manipulate market sentiment.
An effective pump means hyping up a cryptocurrency with false or misleading information, and when the price rises due to high investor sentiment, the group will dump, or sell all the cryptocurrency, which will cause the price to fall again.
9. Bagholder
A bagholder is someone who holds cryptocurrency that has plummeted in value — to the point where it is worthless.
The concept is somewhat similar to hoarding: dead-end holders will hold on to their coins even if they are worthless.
10. Sats
Sats is the abbreviation of satoshis, which is the smallest unit of Bitcoin. One satoshi is equivalent to 0.00000001 BTC.
11. No-coiner
No-coiners are people who believe that Bitcoin is either doomed to fail or will have little value in the future. In this belief, they do not hold any currency themselves.
12. Vaporware
Vaporware refers to software projects, including cryptocurrencies, that never actually get developed. It is often marketed and hyped to the point where everyone is talking about it, but in the end, it is never completed.
13. Cryptosis
Cryptosis refers to an insatiable thirst for cryptocurrency knowledge. While it sounds like a disease, don’t worry — it’s not life-threatening. Symptoms include scouring forums, pressuring friends to discuss cryptocurrencies, and minimizing risk when trading.
14. ICO (Initial Coin Offering)
An initial coin offering, or ICO, is the cryptocurrency equivalent of an initial public offering (IPO), which is the process of raising funds by selling securities or shares to the public for the first time.
Basically, it refers to a fundraising project for a cryptocurrency company. The company will disclose information about the cryptocurrency, the team behind it, and raise investment to help build it. In return, they will give investors new tokens, some of which may have actual utility in the project, while others simply represent shares in the company.
15. Market cap
Market cap, short for market capitalization, refers to the total value of a cryptocurrency. It is calculated by multiplying the current price of the cryptocurrency by the circulating supply.
16. KYC
KYC is short for know your customer or know your client, which refers to the verification of user identity. Most cryptocurrency exchanges implement such rules not only to verify the identity of traders, but also to comply with regulations and ensure the safety of their markets.
17. NFT (Non-Fungible Token)
Non-fungible tokens, or NFTs, are unique, one-to-one crypto assets that have a special identification code built into them. NFTs come in all shapes and sizes, including tweets, digital artwork, audio clips, and more.
18. WAGMI (We Will All Succeed)/NGMI (We Will Not Succeed)
WAGMI is the abbreviation of were all gonna make it. In the cryptocurrency community, people often use this slang to build confidence and encourage everyone not to lose hope.
NGMI is an acronym for not gonna make it. It refers to the feeling that you have made the wrong decision and your investment will not work out.
Both terms are used in the cryptocurrency space, but are more widely used in the NFT space — especially on Twitter and in Discord groups.
19. Diamond hands/paper hands
Similar to HODL, Diamond Hands are people who hold on to their Bitcoin even when faced with significant selling pressure.
Paper hands, on the other hand, are investors who sell too soon - a behavior that is primarily driven by a fear of risk and a tendency to panic.
20. Bullish/Bearish
Both bull and bear markets represent a market pattern. Initially mainly applied to traditional stock markets, but now also widely used in the cryptocurrency field.
A bull market will see an upward trend in prices, while a bear market will see a downward trend.
21. Buy the dip (BTD)
Buying the dip or BTD means buying an asset after it has fallen in price. The belief behind it is the same as when you shop at a mall when it is on sale.
Buying the dip represents buying Bitcoin at a lower price in the hope that it will rise again in the future.
Disclaimer: This article is for reference only and should not be used as legal, tax, investment, financial or any other advice, and does not represent the position of RunesCC.
