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.
10 useful crypto slang terms to hodl in your mind
As you move through the crypto world, you’re bound to see the following slang terms:
We’ll admit it: You don’t have to know anything about crypto to know this one. At this point, FOMO, or “fear of missing out,” is part of the mainstream cultural lexicon. In crypto, it signifies missing out on a crypto purchase before the price surges. Imagine if you’d bought beforehand and sold after the surge? That’s a lot of money you’ve missed out on.
We’ll take an educated guess: The first time you looked at this one, you read “HOLD.” Well, that’s not necessarily incorrect – “HODL” comes from an early bitcoin forum on which someone misspelled “HOLD.” Now, though, it’s an abbreviation for “hold on for dear life.” When you see a HODL, take it as an encouragement not to sell your crypto during periods of volatility.
3 Pump and dump
“Pump and dump” is both slang (in bitcoin and in stocks) and a serious issue. In pump and dump schemes, a group of crypto buyers purchases large quantities of a given cryptocurrency to manipulate the crypto market. These large purchase quantities increase the crypto’s price. The buyers then sell the crypto at this higher price to net a profit. Beware of pump and dump schemes, particularly among new crypto assets, or assets with small market capitalizations (because they are easier to manipulate).
FUD stands for “fear, uncertainty, and doubt.” Spreading FUD can persuade inexperienced crypto buyers to sell their crypto at lower prices, thus allowing experienced buyers to more easily enter the crypto market. Some might say it’s an ethically dicey tactic, but it’s far from uncommon in the crypto community. Since crypto markets are naturally volatile, major swings in FUD are common.
Actions speak louder than fud.— CZ 🔶 Binance (@cz_binance) August 19, 2021
5 Diamond hands
A crypto buyer with diamond hands is determined to, well, hold onto their crypto for dear life. 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.
6 Paper hands
As you might guess, paper hands are the opposite of diamond hands. If diamond is strong, paper is weak, and paper hands signify a person who sells at the first sign of problems. Paper-handed decisions might be smart in the short run, but in the long run, they can sap your coins’ growth potential. Also known as weak hands.
The market can not move up until we reach a tipping point where enough coins have been traded away from paper hands. No one knows exactly when this is but I do know one thing.— Altcoin Ignition (@altcoinignition) December 20, 2021
Paper hands have always been punished in the end.#Bitcoin #Ethereum #DiamondHands
Aping is maybe the least profound or impactful slang term on this list. Asking someone which cryptocurrency they’re aping into is the same as asking them which cryptocurrency they’re buying. That said, “aping” is used so commonly in crypto circles that it’s worth including in a crypto slang list like this one.
8 When Lambo?
Perhaps the only crypto slang that’s always a question, “When Lambo?” concerns crypto investor profits. Namely, asking “When Lambo?” is akin to wondering when you’ll profit enough from your coins to buy a Lamborghini. It’s more commonly used as a joke than for any serious trading speculation. Sometimes spelled “wen lambo?”.
You know how you’re “over the moon” when something exciting happens? When a cryptocurrency gets excited (i.e., rapidly increases in price), it’s going “to the moon” or “mooning.” You can also ask “When moon?” as with “When Lambo?” if you’re wondering when your crypto will suddenly balloon in value.
A nocoiner is exactly what you think it is: Someone who doesn’t own any crypto (yet). Of course, you can easily stop being a nocoiner and become a bitcoiner. Really, anyone can. How, you ask? One answer is Coinme’s bitcoin kiosks.