The acronym is a misspelling of the word “holding” by a user on an online forum. Typically used by Bitcoin maximalists, a HODLing strategy is similar to the conventional buy-and-hold investing strategy. HODL may also refer to the HODL token on cryptocurrency exchange Binance’s Smart Chain. Users can earn rewards in Binance coin by depositing their tokens in a liquidity pool. A hot wallet refers to a virtual currency wallet that is accessible online, and it facilitates cryptocurrency transactions between the owner and end-users. A collection of private keys stored on a program connected to the internet is used to store and send different currencies such as Bitcoin.

Someone with diamond hands will latch onto their coins during even the currency’s most volatile moments. Diamond-handed holders often believe their strategy will lead to greater profits in the long run. When Satoshi Nakamoto first started bitcoin, he, she or they probably didn’t expect a whole internet culture to form around it. And as with pretty much every internet community, the crypto space has rapidly developed its own lexicon, one that’s full of crypto slang tailored to buying, selling, and, yes, HODLing crypto. The thing is, this slang can almost come off like a foreign language to newer bitcoiners. If that sounds like you, use the below guide as a glossary.

The smallest denomination of the cryptocurrency ETH is called Gwei. “The flippening” is a phrase which refers to a hypothetical scenario in which the value of Ether grows to exceed the value of Bitcoin in terms of market cap. A block, the constituent element of a blockchain, is an individual unit in which data is stored. A technology that combines elements of virtual reality with physical reality. In its current form, AR can be facilitated by devices worn over the eyes – such as glasses or goggles – or by a smartphone or computer screen.

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IRL. Shorthand for ‘in real life,’ IRL is an acronym commonly used in the web3 space to describe a person, place, thing or event in physical – as opposed to virtual – reality. Cryptocurrency, which is not subject 32 Product Management Interview Questions & How to Answer to the authority of any centralized authority, is often positioned as the opposite of fiat money. Unlike a traditional corporation or government, they are completely free of hierarchical, top-down structures.

• A ‘Swing trader’ is someone who makes intensive use of it to get more coins.
• Shills generally have large audiences on social media they acquired either through paid traffic or cooperating with other shills.
• In crypto, Probably Nothing refers to the possibility that a crypto project or company that’s not well-known might turn out to be the next big thing.
• Often found unconvincingly rambling about how Blockchain will revolutionize something that’s been working just fine for centuries.
• When somebody overtly endorses a coin online, he or she engages in shilling.

Many crypto investors believe that buying the dip is one of the best ways to make money in crypto. Contrary to diamond hands, paper-handed crypto holders are those who lack conviction in their crypto investments and sell at the first sign of trouble. To crypto investors, paper hands are weak, flimsy, and prone to ripping at the first sign of stress. Diamond-handed crypto investors tease paper-handed ones for their lack of mental fortitude to weather the turbulence in markets.

How to Speak NFT: Your Go-To Guide for Deciphering Crypto Slang, From Allowlists to WAGMI

This meme originates from a 2011 motivational video by a bodybuilder and online influencer Zyzz . After circulating around 4chan and Reddit For 9 years, it was widely adopted by the crypto community. However, if you value your privacy above safety, then decentralized exchanges are exactly what you need. Many people decided to jump on this bandwagon, entrepreneurs and investors alike.

Flipping refers to buying items at low prices and selling quickly for a profit. Flipping is gaining popularity in the NFT space, where people buy and sell NFTs to make a quick profit, especially during the early stages of the projects when there are higher demands. If they sell a cryptocurrency, it significantly affects its rate. We have repeatedly heard that a particular digital asset has reached a new record. This cryptocurrency slang is used to indicate the moment when the price of a cryptocurrency has reached its highest level.

Here is a non-exhaustive glossary of crypto expressions you may or may not know the meaning of. We commit to never sharing or selling your personal information. “I think mooning is one of those terms I’d like to remove from the general vernacular,” he says.

ASICs are application-specific integrated circuit mining computers that are designed specifically to mine cryptocurrency. Though any cryptocurrency that operates using Proof-of-Work can be mined using ASIC miners, they’re generally used for Bitcoin mining. A crypto term used to describe someone who doesn’t own any crypto.

Some contracts require the physical delivery of the underlying instrument and others are settled in cash. This reference to a prolonged decline in crypto markets was used for the 2018 slump that wiped as much as 88% off the market value of all crypto assets. It reemerged in 2022 as digital tokens collapsed again, with Bitcoin falling 76% from its peak in November 2021 to mid-November 2022. An “airdrop” is a term used in the cryptocurrency space to describe when a project gives away free tokens or coins to its community. An ICO is a type of fundraising event where a new cryptocurrency project sells coins to investors in exchange for funding. Aping is maybe the least profound or impactful slang term on this list.

All-time highs are often referenced in other types of investing as well. Blockchain cannot be hacked, the applications built upon them can be vulnerable to misuse. Investors, especially those who are new to crypto, need peace of mind that their assets will not be lost in the event of a breach. Rekt, an intentional misspelling of “wrecked,” is a slang term used in crypto to describe an investor’s portfolio or an investment that’s losing substantial value. An individual who holds a large amount of bitcoin or another cryptocurrency. A cryptocurrency that attempts to attach its value to a fiat currency or commodity in an effort to deal with the volatility of the crypto market.

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While the former is pretty harmless , the latter should be avoided. When agitated, buying anything is not a good idea, especially not something as volatile as crypto. NFTs represent such a huge chunk of the cryptocurrency market that they deserve an entire article on their own (currently we have only one on the topic, but it’s pretty curious). Both IPOs and ICOs create endearing opportunities for investors and traders, since stock shares and coins tend to rise in value significantly after the initial release. However, these opportunities come with a risk, and this risk is amplified tenfold with ICOs.

A stablecoin is a cryptocurrency with a value that is “pegged” — that is, programmed to fluctuate in lockstep — with that of a financial instrument, commodity or another currency. USD Coin , for example, is a stablecoin pegged to the value of the US dollar. A main network, or mainnet, is a finalized version of a blockchain that is fully developed and available for public use.

Crypto/NFT Words You Need To Know: The Crypto/NFT Slang Dictionary

It includes protocols and platforms that allow users to borrow, lend and trade cryptocurrencies in a decentralised way. “To the moon” is a term that is used to describe the price of a particular cryptocurrency going up. For example, if bitit review the price of Bitcoin starts to increase rapidly, you might say that “it’s going to the moon”. Keep in mind that having paper hands isn’t always a terrible thing. This is one of the most common ways investors lose large sums of money.

Hodler

It’s when a person promotes a specific digital coin or blockchain project. In his post, he writes that he continues to hold BTC coins, ignoring the fall in its rate. Since then, after having endured numerous ridicule of users, the new concept has been a staple in cryptocurrency slang.

This is our first article on crypto jargon featuring letters A-L. Keep reading the StealthEX crypto blog to stay in touch with the latest news from the crypto market and its specific terms. Crypto slang for a scheme in which investors artificially inflate the price of an asset through false and misleading positive bitfinex review statements. Once investors “pump” the price of their project, they “dump” their assets, selling them at an inflated price and leaving investors “holding the bag.” NGMI’s polar opposite, WAGMI or “We’re All Gonna Make It” is a crypto term used to describe the camaraderie and optimism within the crypto community.

It is also used to encourage the community to support each other and not to lose hope. According to the book “The Cryptopians,” There was a lot of drama that unfolded in the house. A Pump-and-Dump scheme is actually a crime that relates to insider trading, market manipulation, and similar activities regulated by authorities like FTC in the centralised world. Who wouldn’t want the good ol’ sports car crafted by the generational Lamborghini brand! A Lambo is the symbol of one’s greatest, best-recognised achievement in the markets. The Degen is a predatory creature, acting upon the basic instincts of greed and constantly putting themselves in high-risk situations.

The digital waiting room where transactions are sent before they are included in a block by a miner. The property that describes the fact that information added to the blockchain is final; it cannot be amended. Transactions are irreversible, only an opposite transaction can be executed. A typo for “hold” that has come to mean “Hold On for Dear Life”. It became a rallying cry when crypto was having more downs than ups and hold was misspelled in a popular form post. The fee required to complete a transaction or execute a smart contract on the Ethereum Blockchain.

Return on invested capital is an important indicator of the effectiveness of the use of project assets. Nokoiners are people who missed their opportunity to buy Bitcoin at a low price because they thought it was a scam and thus missed out on the profit. The term used to describe trends in Bitcoin and other cryptocurrencies. It is possibly the most important dogma in the cryptocurrency world. You should never trust an ICO-project team or anyone else without first verifying any statements made with your own research.