A Guide To Crypto Slang: 19 Terms Every Beginner Should Know
Table of Contents
Introduction
Are you new to the world of cryptocurrency? There’s a lot to learn when it comes to understanding the terminology used in this space. From FOMO to HODL, crypto slang can be hard to follow if you don’t know what the terms mean. Fear not, as this guide will provide you with a comprehensive overview of the 19 most important terms that every beginner should know. From trading terms to industry-specific words, you’ll be able to easily navigate the crypto world and confidently participate in conversations. So, without further ado, let’s dive into the world of crypto slang and learn more about SaTT.
Crypto Slang n°1: Whale
A whale, in the context of crypto, is a trader or investor with a large amount of capital. The amount required to be considered a whale depends on the individual crypto asset. For example, to be considered a whale in the bitcoin markets, you would need to hold a net long position worth approximately $100,000,000. Whales are generally believed to influence the price of an asset through their trading activity. This can take the form of buying or selling large amounts of an asset, which has the potential to significantly affect the price. Although whales generally have a positive impact on the price of an asset, particularly in the short term, there are also negative implications for the long term growth of the industry. In order to prevent the price of an asset from being manipulated by whales, several exchanges have implemented restrictions. For example, Binance has a restriction on the number of tokens that one person can sell in a given period.
Crypto Slang n°2: FOMO
FOMO stands for “fear of missing out” and is a common phrase that is used in the crypto world. It denotes the anxiety of not being involved in a particular event or investment, which can often be driven by speculative and impulsive behavior. When it comes to the crypto world, FOMO often manifests itself in the form of regret. For example, you may wish you had bought bitcoin when it was $20,000 instead of waiting for the price to drop to $3,000. FOMO can be a good thing, as it can lead you to make smart decisions. However, it is important to note that investing based solely on FOMO can result in impulsive and regretful decisions. Therefore, you should only invest in crypto if you truly believe in the asset you are acquiring and can make a strong case for why it will increase in value.
Crypto Slang n°3: HODL
HODL is a term that originated in a forum post on the BitcoinTalk forum, where a user wrote “I am still HODLing” when the price of Bitcoin was crashing. Initially, this term was used to describe investors who didn’t panic sell during a correction and instead decided to hold their investments until the prices recovered. However, over time this term became associated with any person who invested in cryptocurrencies and didn’t sell their holdings no matter what the market conditions were. The term HODL can be used to describe both short-term and long-term investors, while the short-term HODLers are the ones that buy in times of uncertainty, hold until the market stabilizes and then sell. On the other hand, long-term HODLers are those who buy when the market is low and sell when the prices are high.
Crypto Slang n°4: ATH
ATH stands for “all-time high.” In the context of cryptocurrency, it refers to the highest price that a particular cryptocurrency has ever reached. For example, if the price of Bitcoin reached a new all-time high of $50,000, it would be considered an ATH for that cryptocurrency. ATH is a term that is commonly used in the cryptocurrency market to refer to the peak price of a particular coin or token. It is also used as a measure of market performance, as a rising ATH can indicate strong demand for a particular cryptocurrency.
Crypto Slang n°5: Bullish
Bullish is a term used in the world of finance and investing to describe an optimistic outlook or positive sentiment about a particular market or asset. In the context of cryptocurrency, a bullish sentiment refers to a belief that the price of a particular cryptocurrency will rise in the future. This can be based on various factors, such as positive news about the underlying technology, a strong market demand for the cryptocurrency, or the belief that the market is undervalued. Investors who are bullish on a particular cryptocurrency may be more likely to buy and hold it, in the hope of making a profit when the price increases.
Crypto Slang n°6: Bearish
Bearish is a term used in the world of finance and investing to describe a pessimistic outlook or negative sentiment about a particular market or asset. In the context of cryptocurrency, a bearish sentiment refers to a belief that the price of a particular cryptocurrency will fall in the future. This can be based on various factors, such as negative news about the underlying technology, a weak market demand for the cryptocurrency, or the belief that the market is overvalued. Investors who are bearish on a particular cryptocurrency may be more likely to sell it, in the hope of avoiding potential losses if the price decreases.
Crypto Slang n°7: No-coiner
You might encounter people who are skeptical about cryptocurrency, or no-coiners, in the crypto community. Don’t get upset or offended by their comments as it’s all just good-natured ribbing. This is just a way for the crypto community to poke fun at people who don’t really understand the potential of cryptocurrencies or who desperately try to find flaws in the blockchain technology. The no-coiners are often seen as the “anti-thesis” of the crypto community. They are the people who spread FUD (Fear, uncertainty and doubt) about the crypto world and try to shut it down. If you meet someone who fits this description, don’t be defensive — just have fun with it!
Crypto Slang n°8: SHILL
Shill is a term used to describe someone who promotes a particular product or service in a deceptive or overly enthusiastic manner. In the context of cryptocurrency, a shill is someone who tries to artificially inflate the demand for a particular coin or token by making false or exaggerated claims about its potential value or usefulness. This can be done for various reasons, such as to manipulate the market or to profit from the resulting price increase. Shilling is generally considered to be a dishonest and unethical practice, and it is illegal in many countries.
Crypto Slang n°9: FIAT
FIAT is a term used to describe traditional currencies, such as the US dollar or the euro, that are issued by a government and backed by physical assets such as gold or silver. Crypto, short for cryptocurrency, is a digital asset designed to work as a medium of exchange using cryptography to secure financial transactions, verify the transfer of assets, and control the creation of new units. In other words, FIAT is a type of physical currency, while crypto is a type of digital currency. While they are different in many ways, both FIAT and crypto can be used as a means of exchange for goods and services.
Crypto Slang n°10: Normie
As the world of blockchain technology and cryptocurrencies becomes more and more mainstream, the crypto community is starting to see an influx of “normies” — people who have no knowledge or interest in this field and just want to make money. They are often associated with people who are running shady ICOs, but in reality, there are many legitimate ICOs that also have a large proportion of normies. The crypto community often associates normies with people who don’t really understand the space, have no interest in learning about it, and just want to make quick money. As such, the crypto community likes to poke fun at them for not understanding the basics of blockchain technology or the concepts behind it.
Crypto Slang n°11: Rug Pull
Rug pull or rug-pulling is a term that describes the act of deceiving someone or tricking them into participating in an ICO or making a bad investment decision. You can either make false promises to investors or pitch them with unrealistic/unreachable milestones in exchange for their money or promise them guaranteed high returns. You can also “pull the rug” from under someone by selling them a token that’s high in risk and low in reward.
Crypto Slang n°12: Rekt
Rekt is short for “rectifying”, which refers to the act of correcting mistakes, errors, or misinformation. This term is mostly associated with ICOs, where investors use it to describe the act of correcting mistakes, bad inf