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Crypto Slang Compendium (Part 1): Beginner Level - Don't say you're in crypto if you don't know these.
Just entered the crypto space and feel like the chats among the old-timers are like reading ancient texts? Don't panic, this piece is here to give you the lowdown.
HODL - The origin of this term is hilarious. In 2013, when Bitcoin crashed, some drunk guy posted on a forum. He meant to type "HOLD" (as in, hold on), but his hand slipped and he typed "HODL." The whole internet ran with it, and now HODL means "hold on for dear life, never sell." Later, someone forcibly created an acronym for it: Hold On for Dear Life.
FUD - Fear, Uncertainty, Doubt. Simply put, it's "bad news" or "creating panic." If someone spreads FUD that you think is fake, you can say, "Stop spreading FUD."
FOMO - Fear Of Missing Out. Seeing others make money and then impulsively jumping in because you're afraid of missing out - that's FOMO. Most retail investors' losses are directly related to FOMO.
DYOR - Do Your Own Research. When someone recommends a coin and adds DYOR, it means "don't come crying to me if you lose money."
NFA - Not Financial Advice. Used in conjunction with DYOR, it's a double-pronged disclaimer.
Degen - Short for Degenerate, meaning a "go all-in player." In the crypto world, using this term carries a self- deprecating pride, like "I know the risks are huge, but I'm going for it anyway."
Ape in - To jump in like a monkey, without reading the whitepaper or doing research, just buying as soon as you see it. "I ape'd into a small coin" means "I bought it without looking at anything."
Paper hands - People who can't hold on. They sell at the first dip, cut their losses quickly. These people are called paper hands.
Diamond hands - People who hold on no matter the price swings. Those still shouting HODL even after a 90% drop are diamond hands. Whether it's true conviction or they're just stuck too deep to sell, who knows.
Whale - A big player. Someone with thousands of BTC in their wallet. Every move a whale makes can impact the market, so there are specialized on-chain tools to track whale transactions.
Shrimp - Retail investors, small capital players. That's us regular folks.
Rekt - A variation of "wrecked," meaning liquidated or utterly ruined. "I got rekt" means "I lost big time." It's daily slang for contract traders.
Moonboy - Someone who is blindly bullish, constantly shouting "It's going to the moon!" No matter what coin it is, a moonboy's analysis is always - it's going to rise. Ask them for reasons, and they'll say, "I have a feeling it's coming."
Remember these, and you'll at least understand 30% of the conversations in the group. The rest? We'll chat about it in the next one.
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