HODL may be the most popular crypto term, but there are several slangs you should know; I have curated 10 here.
Do you think Harry Potter fans calling you a ‘muggle’ is bad? Wait until you start hearing some terms that only crypto enthusiasts understand, and you feel like an outsider.
Every industry has a couple of jargon that people use to communicate. While these terms are not coined specifically to exclude other people, it still does that. You will agree that most crypto users are either cool or nerdy, and to roll with them, you must understand the following 10 slangs that they use to avoid being a No Coiner.
10 crypto slangs to know today!
10. No Coiner
This one might be self-explanatory. It is the muggle equivalent of crypto outsiders and refers to people who don’t own any Bitcoin. Also, classed under this term are people who don’t believe in digital money and try to convince others that bstash.io can guide you on what’s suitable for you. In pop culture, you can say No Coiners are ‘haters.’
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9. Shill
Another term used to refer to a group of people is ‘Shill.’ However, Shillers are crypto owners, and some are even expert traders and investors. They earn their name for trying to deceive others into buying a particular coin that is not good by hyping it. Unsurprisingly, some do this because they own the coins and want to quickly bump the price, sell theirs for profit, and pull out. They have even used celebrities to do their dirty works on several occasions.
8. Vaporware
An offshoot of the above term, vaporware, is a coin advertised as the next BTC or ETH but never completed. Before its success, Dogecoin used to be seen as one of such but gratefully, it launched and stayed competitive.
7. Bagholder
These are the most faithful crypto owners. A bagholder will keep holding on to their coin and refuse to sell despite the price going down like the Titanic. There is some sense in this because the crypto market fluctuates, and prices could go back up any time, yet, there is no point sticking around until water completely submerges you. If you get a lifeboat, you should take your chance to get out.
6. Whale
A whale is an investor that owns five percent or more of any digital currency. For example, Dogecoin’s market cap was $31.9 billion in October 2021, according to Investopedia. If you owned up to $1.6 billion in Dogecoin at that time, you would be considered a Dogecoin whale.
5. Mooning
No, this has nothing to do with traveling to space. But, it does have something to do with ascension. You use Mooning when crypto rises in price (and volume). Like Dogecoin mentioned above, it mooned between October 2020 and October 2021.
4. Rekt
Rekt is the direct opposite of mooning, and it is coined from the English word ‘wrecked.’ No one wants to use it to describe a coin they own. Please, avoid using this word carelessly if it does not relate to you personally.
3. HODL
This term is a corrupted version of the word ‘hold’ and has been used so many times that even an outsider may recognize it. There is no difference between it and bagholder that I wrote about earlier. Likely, it only differs when you emerge successfully from the turbulent time. Otherwise, HODL may just become bagholding.
2. FUD
Come rain, come shine; you are encouraged to stick with your coin. FUD means fear, uncertainty, and doubt, which may cause you to lose faith as you see prices going up and down like a small boat caught in a storm. Also, the crypto industry is affected by influence so much that a single tweet by Elon Musk can cause a significant price change.
1. FOMO
The fear of missing out (FOMO) is likely why you are reading this, and it is what motivated a lot of traders to buy certain coins. Imagine missing out on BTC from the beginning; when ETH came out, many rushed to get hold of it, and it paid off.
Now that FOMO has led you from a No Coiner into a Whale by being Bagholder or HODL and your coin is Mooning don’t let FUD of Rekt turn you into Shill promoting other Vaporware.
Please, don’t try to use all the terms at once like I just did, but I hope you get the gist now.
Conclusion
Crypto jargons help insiders communicate faster and weed out outsiders quickly. Learning these crypto slangs should not just be for fun, although I won’t deny that it is pleasurable to know what they mean.
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