Crypto Slang

Cryptocurrency SLANG

It doesn’t matter if you are into Cryptocurrency, Football, Chess or Cars. As you know, every Space or Hobby has it’s own language. This special language used by all the fans is difficult to understand.

To make it easier for new People to understand the Crypto Slang, we created this list. It will always be updated if new words have been found!

What does HODL mean?

HODL was a misspelling of “HOLD“. It means that someone is planning to “keep” his coins and won’t sell them. People who are not selling their coins are also called HODLER!

 

What does FOMO mean?

FOMO is the short term of “Fear Of Missing Out“. It describes the feeling you get when you see a large, green percentage increase of a coin which you don’t own. That feeling tells you to sell your “Shitcoins” and buy the better performing coin. You are afraid of missing out gains.

LESSON: Don’t let emotions control your decissions!

What does FUD mean?

Fear, uncertainty and doubt! Someone spreading FUD means that he talks sh*t about the coin.

For example:

Bitcoin will never be accepted by the governments. 

Bitcoin is a scam!

Don’t Buy Coin XXX you will get REKT!

Some think that people spread FUD to lower the price of a coin so they can buy cheap after the FUD has shown it’s effect. Sometimes people are just frustrated because they bought high and sold low and they start spreading FUD to compensate their mistakes by pointing the finger to others.

What does DYOR mean?

DYOR is the short term of “Do Your Own Research“. It means that people shouldn’t trust other’s opinion and follow every advise. Always do your own research when it comes to crypto and financial investments. 

 

What do ATH and ATL mean?

ATH = All Time High

ATL = All Time Low

These two short forms describe the max and min reached price of a cryptocurrency or an asset.

What is a crypto Whale?

A Crypto Whale is a person who owns a lot of coins of a specific cryptocurrency. Someone who can affect the market price by selling a chunk of his holdings. There are also whale groups, which organize a Pump and Dump to thrive the price down to buy back at a lower price, dollar cost average.

What is a Pump and Dump?

Pump and Dump is a method to artificially raise the price of a cryptocurrency or an asset and then selling it at it’s peak for maximum profit. This method is forbidden and can get you into big trouble if you do this on stock exchanges. In the Crypto Space, this is kind of tolerated. 

LESSON: You probably already heard about Pump and Dump groups or you might hear about them soon

 

What is a Pump and Dump Group?

Pump and Dump group is usually run by a handful of people who have a decent amount of cryptocurrency coins. They tell the whole group to buy coin X at the time Y to raise the price of the coin artificially

LESSON: How does this work?

The leader of that group usually picks a coin with low trade volume. That means that a slight change of the bid and sell orders will change the price of the coin instantly. What they didn’t tell you is that they bought small chunks of that coin days before the Pump and Dump. When the Pump and Dumps are active and the community starts buying the coins, the leaders will sell their coins for a much higher price because everyone participating in this Pump and Dump is going to buy as much as they can. Most of the time, after the peak is reached, everyone is trying to sell the coins, the price is dropping rapidly and many people won’t be able to sell at a profit and get REKT!

What does REKT mean?

 REKT is the MEME form of the word “wrecked“. It’s also often used in the “gamer slang”.

Other meanings are:

liquidated (margin trading)

killed (in video games)

It usually describes the moment, when you failed. 

For example, you found a promising cryptocurrency project and decide to invest 80% of your savings and buy that ICO or Coin or whatever. After 2 months, the CEO leaves, the Exchange shuts down or or or… your money is gone! YOU ARE REKT!

What is an ICO?

ICO = Initial Coin Offering.

ICO’s were very popular in 2017. Many companies raised millions of $ by launching an ICO.

How does an ICO work?

A Crypto Project (Startup) is looking for investors because they have to pay their developers, designers, pay for listing fees, hosting, etc. Launching and ICO always mean to give investors a bonus, if they buy coins from you directly, without even being listed on an exchange yet. 

Bonus examples:

Buy 1000 Coins and get + 10%

Pay with ETH and get + 10%

Many people got REKT because crypto isn’t very regulated. Companies took the money, maybe even gave you the coins but they never reinvested the raised money back into the project. They closed the doors, shut everything down and left. PUFF! Also Called Exit Scam.

What is an Exit Scam?

The terminology Exit Scam is used to describe when Crypto Projects leave the space without even saying “bye”. They disappear like ninjas in dust. Leaving many people REKT and scammed. There are many known performed Exit Scams in the Cryptocurrency space. The most known had to be the Bitconnect Exit Scam. Also, many exchanges used this method. They tell the public that their wallets got hacked but often it was an inside job by the staff. The BLOCKCHAIN never lies!

What is the Blockchain?

The Blockchain is the software structure on which cryptocurrencies operate. 

What does Shill mean?

Shill is pretty common in the Crypto Twitter space. 

To Shill = to praise a Coin

Shiller = Person who praise the coin to an audience.

Sometimes Shiller’s get paid by the Crypto Companie to create tweets and talk about the project, write positive posts and get people hyped

Sometimes Shiller’s already have a big bag of cryptos and they use their accounts (Shillers usually have 10k+ followers) to get them interested and hyped about the coin that fortunately leads to new buyers = more buy orders = higher prices = $ for the Shiller.

What is a Bag Holder?

Bag Holder is someone who is holding multiple cryptocurrencies. That means he bought different coins and didn’t “invest” in just one type of coin. Also called “diversification“.

What does “going short” and “going long” mean?

Going Long:

To go long means buying a coin at a low price because you hope it will go up in the future. When Margin Traders go long, they usually check the chart and try to buy at a very low entry point to sell at a higher price.

Going Short:

Going short is the opposite. You think that the price will fall, that’s why you sell now and maybe buy back at a lower point. Margin Traders are going short if the price hits a reasonable high spot on the charts and its likely to go down from here. 

What does Market Cap mean?

Market Cap shows the total value of a Cryptocurrency or an asset.

How to calculate the market cap?

For Example Bitcoin:

Price: $6.666,19

Circulating Supply: 18.106.162

Market Cap = Price x Circulating Supply

What is a Buy Wall? What is a Sell Wall?

Buy or sell walls are usually pretty visible in the order books and are distinguished by their flat and straight up going wall structure.

Buy wall shows the strength of the buyers. A huge buy wall can also be seen as a huge interest in this coin and many people or some whales want to buy a lot of them, but at a lower price than it actually is. They prepared their orders below the actual price and snipe them as soon as they hit their price target.

Sell wall shows the strength of the sellers. Often used to keep the price stable, also by the projects which have a big amount of their coins to secure a certain price on the market.

What is Fiat money?

Fiat money is an object of no specific value that serves as a tool of exchange. The opposite of fiat money is commodity money.

For example:

  • tobacco
  • rice
  • gold
  • silver

which in addition to the external exchange value also has an inherent value that is independent of government decrees, as long as it can be used to pay.

What is DCA?

Dollar-Cost-Averaging 
Is a strategy used by many investors in which the total amount that has been invested is devided across every asset or crypto which you bought.
Like shown in the picture.
The Bitcoin price at each day have a different value. 
In order to know the DCA you have to add up every Bitcoin Price (Day 1-10)
Day 1 + Day 2 + Day 3….. + Day 10 and devide the sum by the amount of “Days” = 10
The result you get is the DCA.
Investors want to keep that value as low as possible. 
Even if you think that you paid a lot in Day 1-3, if the price drops and you buy lower on Day 4-10 you can average down your costs. That means you paid less because you have split your investments into chunks (Days).
  • bitcoinBitcoin (BTC) $ 9,245.15 1.45%
  • ethereumEthereum (ETH) $ 187.33 1.64%
  • rippleXRP (XRP) $ 0.249874 0.47%
  • bitcoin-cashBitcoin Cash (BCH) $ 381.52 0.5%
  • litecoinLitecoin (LTC) $ 68.41 3.65%
  • tetherTether (USDT) $ 0.997626 0.11%
  • eosEOS (EOS) $ 4.15 2.6%
  • stellarStellar (XLM) $ 0.063295 1.24%
  • dashDash (DASH) $ 113.78 1.4%
  • dogecoinDogecoin (DOGE) $ 0.002435 1.57%
  • vergeVerge (XVG) $ 0.004370 4.42%