Do You Really Know Your Crypto Terms and Slangs?
Apr 10, 2020
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crypto terms you need to know

By now you’ve probably had a good grasp of basic knowledge like what Bitcoin is, why it’s a great investment tool, and its legal status around the world. However, to better understand the crypto market and engage in discussions with the community like a “real crypto fan”, you need to know all the hot crypto terms and slangs out there. Let’s see if you’ve mastered the popular crypto terms and slangs that all investors need to know in this article!

 

A – F 

ATH: short for All Time High, meaning the highest price a coin has ever reached. For example, Bitcoin’s ATH up to now was 19.665 USD in 2017.

ALTCOIN: short for Alternative to Bitcoin. This is a general term used for all cryptos that are not Bitcoin. Currently, there are thousands of altcoins on the market, most well-known of which are Ethereum, EOS, Litecoin, Dash, ADA, etc. which are all supported on Infinito Wallet.

BEAR/BEARISH: a finance term describing declining market trends.

BULL/BULLISH: a finance term describing rising market trends.

FIAT: currencies issued and regulated by national governments. Each country has its own fiat currency which price corresponds to how well the nation is doing economically and oftentimes, politically. For example, EUR and USD are national currencies of world-leading nations.

FOMO:  short for Fear Of Missing Out. This is a common mentality of investors whenever there are strong fluctuations in the market due to a new crypto project being introduced or rises/declines in coin prices. Investors of any assets, stocks, forex, crypto, whatever are advised to make selling/purchasing decisions based on logic and analysis, not this kind of mindset.

FUD: short for Fear, Uncertainty, and Doubt. This is a “negative press” type of strategy of spreading bad/false information about one’s competitors that’s applied in business, politics, media, and marketing. In crypto space, this term refers to the fear and anxiety of traders when there is negative news on the market about their invested assets, typically leading to mass selloffs. Whales can use this strategy to manipulate traders into selling coins en masse so they can buy at dirt-cheap prices.

most popular crypto slangs and phrases

G – M

HARD FORK: is a technical separation of a blockchain when there’s a change in the chain’s protocol and consensus algorithm. After a hard fork, the previous chain will be replaced by a new chain or there will be two distinct blockchains aka two different coins, similar to a fork in the road. When this happens, owners of the original chain’s coin will receive an equivalent amount of the new chain’s coin. For example, Bitcoin owners received Bitcoin Cash on 1st August 2017 when Bitcoin had its first-ever hard fork.

HODL: a misspelling of “hold” that became a viral meme after a crypto investor made a typo in his post on Bitcointalk.org forums. To “hodl” means to hold onto a coin for a long time even as its price rises strongly, waiting for the ultimate ATH.

ICO: short for Initial Coin Offering. This is a fundraising project for new crypto projects looking to issue their own coins or tokens. Investors who wish to show support for the new project can buy its coin or token directly with the issuer. Funds raised from ICOs are meant to be for developing these new projects.

IEO: Initial Exchange Offering is also a form of fundraising for new crypto projects like ICO. However, in IEOs, coins and tokens are sold via crypto exchanges instead of directly with the issuer. Investors need to register exchange accounts to buy when the sale begins. Binance Launchpad is one of the most popular and trusted exchanges for IEO projects and their investors.

LONG/GO LONG: a finance term about buying an asset in expectation to earn great profit when its price rises hugely in the future.

MARKET CAP: the market value of a coin or token. It is calculated as current price multiplied by circulating supply, therefore changing very frequently in crypto space.

 

O – Z

PUMP & DUMP: This typically happens when a group of investors want to dupe inexperienced investors into buying aka “pumping” a coin en masse to artificially inflate its price. After that, these groups will begin to sell off aka “dumping” these coins, leading to massive price drops. Pump and dump is an extremely risky and unpredictable tactic, so investors need to look out for market news and make careful analysis before taking the decision to buy.

REKT/GET REKT: When a trader loses lots of money.

SHORT/GO SHORT: A finance term about selling an asset to profit as they expect the price will drop soon, the opposite of long/go long.

STABLECOIN: A cryptocurrency that pegs its value on fiat money or other assets like gold, diamond, or another crypto to minimize volatility. Asset reserves backing these cryptos are frequently audited to ensure compliance. Stablecoins can be developed as tokens on smart contract blockchains (like Ethereum, TRON, etc.) or on first-generation (1.0) blockchains like Bitcoin via specialized protocol layers. The biggest stablecoin on the market right now is Tether (USDT) which is issued on Bitcoin, Ethereum, and TRON.

TOKEN: Each blockchain only has one official coin but can have multiple, unofficial tokens of different standards. Tokens don’t have their own blockchain. For example, ETH is the official coin of Ethereum blockchain, while OKB token is one of the many ERC-20 tokens issued on Ethereum blockchain.

TO THE MOON: An expression to celebrate a coin that’s skyrocketing in price or declare one’s belief that its price will soon hit the peak.

WHALE: Individual or groups of investors who own a huge amount of crypto. Whales have strong influence on the market and coin prices due to possessing a large part of the supply.

WHITEPAPER: An official document detailing all information about a crypto project that’s issuing a new coin, including structure, value statement, vision, and development plans and roadmap. Investors can check out a project’s whitepaper to make a decision whether to support a project’s fundraising effort. A whitepaper is proof for the transparency of an ICO, investors should never invest in any new project that doesn’t have this essential document.

 

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So, how many of these terms do you know? Of course this isn’t the complete “crypto glossary” as this bustling community is inventing new terms and slangs every day as the technology and market develop. We hope that this article has all the key terms that help you easily engage in discussions with all the savvy crypto fans out there!

 

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Author
Shane Tran Thai

PR Specialist