From FOMO to WAGMI to DYOR, there’s a long list of slangs in cryptocurrency that you should know. Crypto slangs help you to identify with the community and understand information you see. For example, someone could tweet something about a coin and you could miss it because you don’t understand some of the slang in the tweet. So let’s get familiar with them ?. Ready?
Top Crypto Words and Slangs to Remember
WAGMI stands for “We Are All Gonna Make It.” And usually, crypto traders and investors use the slang as a morale booster, especially when things aren’t going so well in the market.
Example: WAGMI!! The bull market is coming
NGMI means “Not Gonna Make It.” And this is used to describe a bad decision that has gone out of control. So, while we need all the encouragement to keep hope alive on bad days with WAGMI, we also need to be honest about a wrong decision that won’t yield good results with NGMI.
Example: He didn’t buy crypto on Quidax. NGMI ?
Shilling is when people talk about a coin so much to get people to buy it so that its price can go up. For example, it is considered shilling if a crypto company pays an influencer to talk about a particular crypto with lots of false and exaggerated narratives for their own benefit.
Apeing is when a crypto trader buys a particular coin almost immediately after it enters the market. In a case like this, the trader fails to carry out enough research and proceeds to buy the coin due to the fear of losing potential profit.
Example: I aped into QDX as soon as it dropped
You must have seen these two letters a lot in the crypto and NFT space. The slang GM, which means “Good Morning ?” has been popping among cryptocurrency enthusiasts on Twitter and other social media platforms.
But beyond a greeting, GM is a subtle way of saying, “It’s a new day, and the future is bright.” So, GM, people! (You see what we did there ??)
Mooning is when a cryptocurrency’s price goes up quickly, way past expectations.
A similar expression to this is “To the Moon ?.” When a person says a coin is going to the moon, they mean the coin’s price is constantly rising, and it is likely to continue that way for some time.
Rugged refers to a situation in which the developers of a coin disappear with the funds invested in that coin and leave buyers holding the coin as its value goes to zero. Coins that end in a rug-pull
FOMO simply means “Fear of Missing Out.” It’s how you feel when people are doing something and you’re scared you’ll miss out on a potential good thing if you don’t do it too.
Usually, FOMO happens when there is a potential opportunity to make more money, and an investor is afraid of losing the opportunity – even when it’s very risky.
FUD represents “Fear, Uncertainty, and Doubt.” And it is a strategy used by some people (FUDers) to spread negative news and opinions about a particular digital currency.
On the one hand, people use FUD to discourage people from buying a particular cryptocurrency. And on the other hand, it is used to encourage people who have a specific coin to sell it at a lower market price out of panic.
Not the underwater mammal! In crypto, a whale is a person or organization that owns a huge amount of crypto. These are the movers and shakers. When they do major trades, the market is affected. It’s giving Elon Musk, yeah?
For example, if you are the largest shareholder in a company, you have a massive influence on the actions and decisions of the establishment. So, you’re similar to a whale in the cryptocurrency world.
Rekt is pronounced like the word “wrecked.” And it is used to describe a situation where a crypto trader experiences massive loss when the price of the crypto they own drops.
HODL (similar to HOLD) is one of the most popular cryptocurrency slangs, and it stands for “Hold On for Dear Life.” HODLing in crypto refers to leaving your cryptocurrency in your wallet despite price changes – with the hope that the coin value will increase over time.
Satoshi Nakamoto created Bitcoin, and “Sats” is an abbreviation of “Satoshis”, which refers to Bitcoin’s smallest unit.
For context, 1 Sats = 0.00000001 BTC.
14. Paper Hands
When an investor sells their crypto very early out of panic or fear of the unknown, people say they have “paper hands.” Such investors are often pressured into selling their coins during market swings.
15. Bag Holders
Bag Holders are investors that hold on to large volumes of a coin regardless of its performance in the market. These are the true believers in the coin’s potential.
DYOR is another popular slang used by crypto enthusiasts, and it stands for “Do Your Own Research.” Basically, DYOR means regardless of whatever information you hear or read online, you should do your due diligence before making any financial or investment decision. Here’s our quick guide on how to do your crypto research
“Buy the dip!” You’ve heard that many times. And this means buying crypto for long-term investment when the price has dropped. Usually, investors are encouraged to buy the dip when a coin has the potential or historical record of rising after some time of price fall. Remember, buying low and selling high is the most straightforward way to make money in crypto.
In cryptocurrency, ATH stands for “All Time High.” And it refers to the highest price a coin has hit since it was created.
Long is used in crypto trading to describe a situation where a buyer buys a coin and waits for its price to go up before selling it. Crypto investors use long trades to make extra money off their digital assets.
On the other hand, short trading in crypto involves borrowing a coin and selling it at a high price with the plan to buy it back when its price drops. With short trading, a trader will make money from the price difference between high and low after returning the borrowed coin.
There are many crypto slangs and terminologies to keep up with when entering the cryptocurrency world. But, with time, you’ll get familiar with all of them and become a proud member of the crypto geng ✌. There are also some other ways to get your knowledge up when it comes to crypto:
- Learning the basics about crypto trading like we teach in our free 10-minute crypto beginners course.
- Doing a ton of research. Don’t know where to start from? Here’s our simple guide to doing your own crypto research.
- Signing up on a reliable exchange that gives you the option to buy or sell a cryptocurrency in seconds. On Quidax, we have a price alert feature that you can use to monitor the prices of crypto even when you’re sleeping, relaxing, or partying. No need to check your screen a million times.
Quidax is a great starting point for everyone. We keep things simple, fast, and fresh so hit the button below to get started.