With the introduction of cryptocurrency, slang terms associated with this technology also started to evolve. Most of the phrases and terminologies have clever and interesting meanings. However, these terms aren’t easy to understand, especially if you are not interested in crypto.
Even crypto beginners find it difficult to learn NFT and Crypto slang terms. If you are trying to Google terms like FUD or HODL, we have got you covered. We welcome you to the interesting world of Web3.
Here, we are going to briefly explain the crypto terminologies in a simple and easy-to-understand manner.
So, let’s dive in!
List of NFT and Crypto Slangs you should Know
Below is the list of some of the most common NFT and crypto slang terms along with their meaning.
Meaning of KYC in Crypto:
KYC is an abbreviation of “Know your Customer,” which relates to a process of user verification imposed by regulatory authorities in 2017. Hence, it’s a mandatory process for identifying and verifying a client's identity. Like other financial institutions, crypto exchanges are bound to complete the KYC procedure before allowing a client to create an account.
Meaning of Cryptosis in Crypto:
“Cryptosis” is a term that relates to a state of mind when a person is over-enthusiastic about crypto. Such a person is mad about cryptocurrency and loves to read, discuss, write, or consume information about it without any pause.
Meaning of Shill in Crypto:
Shilling refers to an act of utilizing exaggerated/false narratives or propaganda to promote a low-quality investment program or service. It also involves financial incentives to grab the attention of common investors.
Usually shilling is commonly used for pump-and-dump schemes. However, it can also be used in various other contexts, i.e. an influencer promoting a recently launched cryptocurrency.
Meaning of Flippening in Crypto:
“Flippening” is a crypto term associated with a hypothetical notion that one day Ethereum will overtake Bitcoin in its value.
Meaning of When Lambo? in Crypto:
Lambo is a short and more popular name for Lamborghini, which is an expensive dream car. The term Lambo is associated with cryptocurrency, giving a feel that you can earn a lot of money and buy a Lamborghini by trading crypto. In addition, “When Lambo” is a symbol of a successful crypto journey.
Meaning of Sats in Crypto:
Sats is an abbreviated form of Satoshis, which is Bitcoin’s smallest unit (0.00000001 BTC). To put it simply, one sat equals 100 millionths of a Bitcoin. Sats is named after Satoshi Nakamoto, the creator of Bitcoin. Another related term is “stacking sats,” which is a well-known investment strategy involving the accumulation of satoshis. This strategy helps increase or stabilize the value by buying fractions of Bitcoin.
Meaning of Pump and Dump in Crypto:
“Pump and dump” is a crypto slang term that is also seen in stock exchanges. It refers to a type of market manipulation that is not approved by regulated authorities. In fact, it’s a scenario where investors create hype or try to inflate the price of a crypto asset.
Once the price is increased to a specific limit, investors start selling the asset and earn massive profits. So, in simple words, investors first pump up the asset and then dump it before it loses its value.
Meaning of Rekt in Crypto:
Rekt is a misspelled version of “Wrecked”. This particular slang term relates to the defeated portfolio or investment of an investor. Rekt is a sensational term used on social media when talking about a massive loss faced by a crypto investor.
Meaning of Bagholder in Crypto:
Bagholder is an unfortunate situation in the crypto world. It relates to a condition when someone buys a crypto asset at a higher price, and the value started to fall significantly. So, such an investor is holding baggage of crypto assets causing financial loss but nothing else.
Meaning of FUD in Crypto:
FUD is an abbreviation of three different words including “Fear, Uncertainty, and Doubt.” This term combines three types of psychological aspects into one. It is a common term used in crypto circles, which is used to propagate negative sentiments regarding a specific crypto asset. This is done to prevent others from buying or further buying a cryptocurrency.
The basic object of this strategy is to keep the price of a cryptocurrency at its minimum level, allowing the investors or FUDers in this case to buy it in bulk. In addition, FUDers can also destabilize the value of a cryptocurrency if it is competing with another crypto project.
Meaning of Whale in Crypto:
A whale is referred to an entity or company holding a massive amount of any specific cryptocurrency. For example, a company can become a Bitcoin whale if it owns 50,000 Bitcoins. Since this particular company is capable of shaking the market with a single trade, it is termed a whale.
Meaning of HODL in Crypto:
HODL is an abbreviated version of “Hold on for Dear Life”, a commonly used term in the crypto world. It is a famous misspelling of the word “Hold”. This term came into existence during a discussion in a Bitcoin forum that was about the prevailing market turbulence in 2013. This was the time when investors were selling their crypto assets.
Hence, this term was floated to persuade investors to simply buy and hold their cryptos in their digital wallets. After that, this term gained unprecedented popularity among crypto owners. HODL is widely used during times when the price of a crypto asset fluctuates frequently.
Meaning of No Coiner in Crypto:
No-coiner is a term commonly used for a person who doesn’t believe in crypto or is pessimistic about its existence in the future. Such a person isn’t interested in buying cryptos or even talking about cryptocurrencies.
Meaning of Vaporware in Crypto:
The term “Vaporware” relates to a particular concept or idea that isn’t going to become a reality. Usually, crypto enthusiasts use this term to express their thoughts about prospective cryptocurrencies, which are of no use.
Meaning of BTD in Crypto:
BTD is a short form for “Buy the Dip”, which is a popular term not only in the crypto market but also in the traditional financial arena. Investors use this term to encourage others to buy a crypto asset when its price is decreased for a short period. Investors can buy the cryptos at a lower value, hold them in their digital wallets and sell them when the price goes up.
Meaning of FOMO in Crypto:
FOMO is an abbreviation of “Fear of Missing Out.” This particular term relates to almost every part of our life. In the crypto world, FOMO refers to an investor’s state of mind, where he/she feels both panic and envy for staying away from the crypto market when others are benefiting by playing an active position.
FOMO relates to a particular situation in the crypto market where a sudden bullish trend starts to float and benefits the current holders of cryptos. This is the time when anxious investors start debating whether they should start buying now or if they have missed the train.
The term FOMO is applicable to all sorts of financial markets, yet it is more common in the crypto markets. This is so, as most of the crypto investors are amateur and they are skeptical about making a risky move.
Final ThoughtsÂ
Although crypto is still a new thing for a wide range of people, things are changing at a fast pace. Investors are now taking more interest in crypto assets, as they do in terms of traditional finance. So, more and more people are interested in knowing the meaning of different NFT and crypto slang terms. This is why we have explained the most popular NFT and Crypto slang terms. We hope to have done justice with the topic.
