Everyone talks about cryptocurrency. Even people, who don’t have experience with traditional investment tools, try to investigate new opportunities and use them to their advantage. But what do all those buzzwords mean? If you try to find some information, you will probably see many articles, that are filled with crypto slang. If you do not want to get lost in the fast-changing realm of crypto investment, you need to know what these widely-used words mean.
Crypto slang acronyms
There are several acronyms, and sometimes people use them without even knowing, what stands behind the letters, so they understand their basic meaning only. But it’s always good to know more, so here are several of the most frequent ones:
This abbreviation consists of three words – “Fear, Uncertainty, and Doubt”, It’s used, when someone intentionally spread negative information about a certain cryptocurrency, creating doubts and fears among the audience, so it will eventually drop in price. “Fudder” is someone, who spreads FUD.
“DYOR” expression comprises some wise important advice: Do Your Own Research. While the crypto market is rapidly evolving, new coins are appearing and disappearing, everyone needs to DYOR, before investing their money. Do not rely upon someone’s advice, experts’ opinions, and analytics. Always compare several sources, gather information, and draw your own conclusions.
This phrase, meaning “All-Time-High”, is used, when the price of an asset reaches a point, that was never reached before. For example, you can say, that both Bitcoin and Ether created an ATH this year.
It can remind you about Obsessive-Compulsive Disorder, but in our case, we read it differently. Here we can talk about Obsessive Crypto Disorder – a state of mind when someone doesn’t want to miss any information and spends all their time doing some research, gathering data, and tinkering with different tools. You can use it to jokingly describe someone, who cannot talk about anything but crypto and often purchases many diverse coins.
The last one in our list looks like an acronym but actually isn’t one. It appeared in bitcoin slang around 2013 after someone had made a typo while writing “hold” and panicking about changing market. HODL means to keep the coin you bought, so you don’t sell it, even if its price falls in the hope of another period of growth.
Other important crypto slang terms
Obviously, this slang doesn’t consist of abbreviations only. Here are some other important terms you need to know if you want to understand what experts and enthusiasts are talking about.
To the moon/Mooning
If someone says that the currency is mooning, these crypto slang words mean, that its price has risen drastically and reached its maximum known value. This phrase came into use in 2017, when Bitcoin reached 20 000 $ in a very short time.
Whales are entities (people or organizations) that owns a large amount of certain cryptocurrency. For example, someone, who owns 1000 Bitcoins can be surely considered a whale. The total capital isn’t the only criterium to define a whale. Their impact is also important. They can have a significant influence on the market by selling or buying a great load of coins. Many smaller market participants watch their behavior trying to guess their next actions and thus predict market events.
Paper hands are investors, who usually do not gather large capital, because their level of risk tolerance is low. They do not like risk, so they are not able to HODL and do not hesitate to sell when the price falls or just when their gut tells them to do so. It’s difficult to be a paper-hands investor on a volatile market and usually leads to losses.
Bagholders are the opposite of paper hands. They do not sell, even while the price of their stock is falling. They always hope for the best, even if their coin performs not quite well. Sometimes they behave like this because they are unaware their assets drop in value. Eventually, bagholders sometimes become the last owners of some failed crypto coins even when everyone else got rid of them.
And if you want to know, what shill means in crypto, here’s your answer. Shilling is promoting a coin through hidden advertising. If someone endorses some currency on public forums, spreads the information about it, pretending to be a genuinely interested enthusiast, but is in fact paid for these activities, it’s called shilling.
Now you know the basic crypto slang. Sure, you will meet many other new words on your journey, and every year new ones appear. But these acronyms and terms will help you to build your solid base and enhance your knowledge about cryptocurrency.