Have you encountered terms such as Hodl, weak hands, or even bag holders when reading through various blogs, Reddit posts, or even on community crypto forums and unsure whatever they mean?
Here are the top 10 cryptocurrency slang terms most commonly used that will not make you a crypto noob.
Pretty much the slogan of crypto and the most commonly used word throughout this space.
A twist on the word “hold”, which originated from a Bitcoin forum where the user misspelled hold to hodl. The acronym has been retrofitted to mean “Hold on for Dear Life”.
In other words, this refers to people holding onto their crypto assets for the long term and not taking risks losing money from trading due to high volatility within the crypto space.
A twist on the word “build”, on top of accumulating or trading cryptocurrencies.
To further encourage the development of the dApp ecosystem on #BinanceSmartChain, we have committed $5 million USD worth of #BNB to the newly-launched Binance Smart Chain #BUIDL Reward Program.https://t.co/JaxvU8qNgj
— Binance (@binance) October 3, 2020
It calls others to actively contribute to the blockchain/ecosystem and improve adoption, rather than holding the coin passively.
A play on the word “wrecked”, which in crypto terms refers to when someone or something experienced a catastrophic failure.
This is usually related to a crypto asset being almost completely liquidated, thus losing significant value in a matter of days.
This term is used to describe a crypto asset that has a strong upward market trend that raises the price significantly.
When encountering a crypto token/coin that is skyrocketing in price, many people with optimism and euphoria would usually say “to the moon”.
5. Weak Hands
When an investor who sells or discards their crypto assets because they lack the confidence in the crypto they invested or not sticking to their trading plans.
This refers to people who usually sell their crypto-asset and only to see it outperform in the future after they sold.
6. Bag Holder
An investor who holds certain assets and keeps holding the investment which decreases over time and eventually turns worthless.
They may also think it will be worth something in the future but still chooses not to sell and believe it will recover in the future.
7. Pump and Dump
Usually related to an altcoin surging in price, followed by a crash.
A trader who buys an altcoin that is pumping in price and later followed by a dump in price. Pump and Dump are usually referred to as a particular altcoin that is generally worthless and only used to make money from other people buying.
Traders/investors who have an interest in endorsing a coin in which they hold and hoping to obtain the public’s interest in buying the coin.
By shilling, the person who holds a bigger amount of the cryptocurrency/token can sell their asset at the highest possible price.
Fear Of Missing Out. Generally the fear and anxiety of missing out on the opportunity of making a profit and usually correlates to people buying at the top.
In other words, people would bandwagon and follow the trend as to what coin is performing well, without usually doing their own research.
Fear, Uncertainty, and Doubt, a term used to spread fear and insecurity among investors.
Some people would spread FUD in order for others to sell their crypto assets and for them to buy at a lower price.
These are the top ten crypto slang terms that you should know when discussing with other people and understanding what they mean. Are there any other terms you feel should be on this top ten list? Please comment below and would love to hear what you all think!