A Guide To All The Crypto Slang So That FOMO Doesn’t Hit You Hard
Investment2 Minutes Read

A Guide To All The Crypto Slang So That FOMO Doesn’t Hit You Hard

April 3, 2022 Share

It’s hard enough to understand the ‘blockchain’ without all the jargon. But with interest in cryptocurrency exploding, it’s time to get educated in some of the crypto slang.

A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network, an online bank that’s not reliant on a central authority. 

In recent years, the rise in popularity of crypto assets has been accompanied by the growth of an entire subculture of crypto enthusiasts and the subsequent creation of the so-called crypto slang.

This new language, now used by investors, trad, ers and kids super plugged into the crypto scene, first popped up in online forums and social media platforms where users would discuss their market positions and debate strategies. 

crypto slang

Much of this terminology has seeped into the mainstream as interest in digital assets has skyrocketed. So if you have been around the block and have come across a word that makes no sense in its context, here is a list that includes almost all the slang words you might face.

  • Apeing – The act of buying a new token without first conducting research. 
  • Bagholder – Traders with large amounts of given crypto tend to not sell it despite how it may perform.  
  • Bear/Bearish – The negative movement of an asset’s price.
  • Bull/Bullish – The positive movement of an asset’s price.
  • Hot & Cold storage – Your wallet code (private key) can be stored digitally or on an offline physical storage device. Hot wallets are connected to the internet while cold wallets are not.
  • Fiat – Currencies are recognised as legal tender by governments. We know them as the USD, GBP, EUR, AUD, etc.
  • Gas – A fee sent to Ethereum miners to incentivise them to process your transaction – the more you spend on gas, the faster sending ether will be.
  • Lambo – Rich people most commonly buy Lamborghinis. When you get rich by trading crypto, you become a Lambo. 
  • Mining – The process of verifying blockchain transactions. Miners earn fractions of the cryptocurrency at the cost of electricity and computer resources.
  • Moon/Mooning – Crypto prices’ upward momentum, skyrocketing to astronomical levels.   
  • Moonboy – Traders who are bullish preach how they can accurately predict prices will change.
  • Shitcoin – A crypto is considered a bad investment due to its potential of crashing. It’s also a cryptocurrency that does not provide any real technological innovation.
  • Whale – Cryptocurrency owners with large quantities of it, much more than Lambos, who are capable of influencing the market.
crypto slang

It’s hard enough to understand the ‘blockchain’ without all the jargon. But with interest in cryptocurrency exploding, it’s time to get educated so you can join in on all the metaverse fun!

This list of crypto slang above is just the tip of the iceberg, but hopefully, it will be enough for now to avoid that FOMO.

Author: Michelle Laver