20 Crypto Terms You Need to Know
"I FOMO’d into the shitcoin that everyone on Crypto Twitter has been shilling and now it’s going to the moon! Bullish." If you didn’t understand that sentence, no worries, neither would most people. If you’re diving into cryptocurrency and want to join the discussion in forums and social media, you’ll need to understand the lingo - both technical and non-technical - that everyone is using.
Below, find 20 crypto words that you’re likely to come across when diving into crypto.
1. Airdrop
An airdrop is when a new cryptocurrency token is deposited directly into users' wallets, typically for free. Airdrops are used to promote awareness and expand and decentralize ownership of a new cryptocurrency.
2. Altcoin
The term altcoin, or alternative coin, describes any cryptocurrency other than bitcoin, the first cryptocurrency.
3. ATH / All-Time High
ATH is an acronym for All-Time High and is used when a coin or token reaches the highest value it has been in history.
4. Bear
The term bear or bearish is used to describe a negative trend in the prices of the market. An investor that expects the market to decline is also referred to as a bear.
5. Bitcoin Maximalist
A Bitcoin Maximalist is a person that believes that bitcoin is the only cryptocurrency that matters. According to a Bitcoin Maximalist, all altcoins are inferior to bitcoin.
6. BTD / Buy the Dip
BTD or Buy the Dip refers to buying a cryptocurrency during a short-term price decline. By purchasing the dip, investors are hoping to profit from a potential future price increase.
7. Bull
The words bull and bullish are used to describe a positive trend in the prices of the market. An investor that expects the market to increase in value is referred to as bull.
8. Diamond Hands
Diamond hands are used to describe an investor with a high tolerance for risky investments. Someone with diamond hands will adamantly hang on to their assets during periods of high volatility, refusing to cave under pressure to sell.
9. DYOR
DYOR, or Do Your Own Research, is commonly used by crypto enthusiasts to encourage people to research their investments and not rely solely on the advice of others.
10. Fiat
Fiat is money issued by a government like the dollar, euro, or yen.
11. FOMO / Fear Of Missing Out
FOMO, short for "Fear of Missing Out," is the feeling investors get when they think they may miss out on a crypto price increase. FOMO encourages people to buy particular crypto as soon as possible before the next inevitable price increase.
12. FUD
FUD stands for Fear, Uncertainty, and Doubt. Sometimes FUD is used as a strategy to try and negatively influence the perception of certain cryptocurrencies or the market.
13. HODL
HODL is an acronym for "Hold On for Dear Life" and refers to the practice of amassing crypto and not selling it throughout the market's ups and downs. HODL originally came from a misspelling of the word "hold" on a bitcoin forum and has become one of the most popular phrases in the crypto community.
14. Laser Eyes
Laser beam eyes are used to show enthusiasm for bitcoin and a laser focus on getting bitcoin's value to $100K. Laser eyes are trendy on Twitter, where Bitcoin enthusiasts photoshop them in their profile pictures.
15. Moon
Moon refers to when a cryptocurrency rapidly increases in value. When this happens, many people will say “to moon!” or that the coin is “mooning.” Moon is the crypto industry’s way of taking the term “the sky's the limit” one step further.
16. Nocoiner
A nocoiner is someone who does not hold any cryptocurrency or someone outside of the crypto community.
17. Sats/ Satoshis
Named after Bitcoin’s elusive founder Satoshi Nakamoto, a satoshi or sat is the smallest unit of bitcoin that can be bought or sold. One satoshi is 0.00000001 BTC. People use the term “stacking sats” to refer to amassing bitcoin through fractional investments.
18. Shill
To shill is to promote something solely for your own benefit. In the crypto community, shilling happens when someone has invested in a coin or token that is not performing well. They try to get others to buy it for their personal gain. Shilling is frowned upon in the community.
19. Shitcoin
A shitcoin is a cryptocurrency with no value or purpose. The term is used to describe altcoins that have a low overall worth.
20. Whale
A whale is someone with a massive amount of bitcoin or another cryptocurrency. Whales tend to hold 5% or more of a particular cryptocurrency. Their holdings are so extensive that they can influence that cryptocurrency's price.
