Crypto Slang Explained

In today’s rapidly changing world of cryptocurrencies, diving into the world of Bitcoin, Ethereum, and countless altcoins can feel like trying to speak an entirely new language.

There’s so much to learn, from how the technology works to understanding the unique community and culture that has developed around it. A significant part of that culture is the vibrant lexicon that crypto people use on a daily basis.

Whether you’re a seasoned trader, a newbie investor, or just someone curious about the crypto buzz, it’s crucial to familiarize yourself with the slang that floods the forums, chats, and social media.

This glossary offers a dive into some of the most popular crypto slang terms to help you navigate this exciting, and sometimes bewildering, world.

ATH All Time High

The All Time High is the highest price ever achieved.

ATL All Time Low

The All Time Low is the lowest price ever achieved.

AMA Ask Me Anything

AMA is an abbreviation for ‘Ask Me Anything’ and is normally a live event where attendees can ask the organiser whatever they want to.

BFA Brute Force Attack

A Brute Force Attack is a sophisticated hacking attempt to crack a password, passcode or some kind of key through an automated trial and error process.

BTFD Buy the F&*$ing Dip

BTFD is, literally, buying the current price drop/crash.

CBDC Central Bank Digital Currency

Central Bank Digital Currencies are digital currencies issued by a central bank whose status as legal tender depends on government regulation or law. They were theorised many years ago by ‘conspiracy theorists’ but have since become a reality.

DYOR Do Your Own Research

Do Your Own Research is a popular term encouraging investors to actually do their own research as opposed to just solely relying on having just watched a random TikTok or YouTube video before investing.

FOMO Fear Of Missing Out

Fear of Missing Out is where a trader or investor is afraid of missing out on a potentially huge opportunity in the market. It is very common in a bull market.

FUD Fear Uncertainty and Doubt

Fear, Uncertainty and Doubt is a strategy employed by Market Makers to influence the public perception of the markets in general by spreading negative, misleading and/or false information via a variety of different outlets including the mainstream media, reporters, celebrities, influencers etc..

HODL Hold On For Dear Life

Hold on for Dear Life is used in the crypto world to refer to a strategy of holding onto one’s crypto holdings through severe price fluctuations and volatility. The word “HODL” originated from a post on the Bitcoin Forum (bitcointalk.org) way back on December 18, 2013. A forum member using the handle “GameKyuubi” wrote a post with a title called “I AM HODLING,” as “HODLING” is a misspelling of “HOLDING”.

KYC Know Your Customer

Know Your Customer is a financial institution’s obligation to verify the identity of a customer in line with government Anti Money Laundering (AML) laws. Crypto exchanges over the years have been strong-armed into enforcing this policy to ‘protect’ its users (or perhaps to provide more data to the authorities?).

P&D Pump and Dump

Pump and Dump is the frowned upon practice of buying a lot of one particular cryptocurrency to drive its price up exponentially encouraging others to FOMO in and invest, and then dumping their bags cashing in on the hype which consequently crashes the price.

SATS Satoshis

Satoshis are the smallest unit of Bitcoin, which is 0.00000001 BTC. The name SATS is shorthand for Satoshi Nakamoto, which is the fake name used by the supposed creator of Bitcoin.

SAFU Secure Asset funds for Users

This was a term coined by Binance when concerns were raised over the safety of crypto assets. Binance created an emergency insurance fund to protect investors. The term has since been widely adopted to mean ‘Safe’.

REKT

Shorthand slang for “wrecked” and a term used to describe a bad loss in a trade “I got REKT” or “Don’t get REKT”.

WAGMI We All Gonna Make It

We All Gonna Make It is a term used in Discord and Telegram Groups encouraging HODLERS to continue to HODL as the price will eventually bounce back and everyone will become rich as a result.

YOLO You Only Live Once

You Only Live Once is a term used by people who have a carefree attitude to life or a crypto or a trade. Enjoy your life now whilst you can, because when it’s gone, it’s gone!

Well, there you have it – a rundown of some of the most frequently used crypto terms. The crypto world is dynamic, constantly evolving, and its language is no different.

As more people join the community, and as the technology and its uses evolve, new terms will undoubtedly emerge.

Did I miss anything that you think should be added to this list I’d love to hear your suggestions. Comment down below or email me at info@chartingbtc.co.uk.

Remember, staying updated and informed is crucial in the fast-paced world of cryptocurrency. Whether you’re trading, investing, or just engaging in friendly crypto banter, knowing the lingo can make all the difference. Happy HODLing, and remember, WAGMI!