Popular Crypto Slangs You Should Know
Ever joined a crypto group chat or channel and felt utterly lost or even weirded out by the conversation as various slang flew around? The crypto space is a planet of its own with its native jargon. We know it can get a bit confusing especially if you’re new to the space. But, no need to worry. Vent Africa has got your back. In this post, you’ll learn some of the essential terminologies associated with crypto. Ready to use crypto slangs like a pro? Dig in.
Hodl
(Hold on for dear life)
Hodl is a popular crypto slang, which means holding a coin you have bought indefinitely and not selling it, irrespective of price fluctuations.
Fomo
(Fear of missing out)
Fomo describes a situation where a person decides purchase a coin or trade without conducting due diligence simply due to an intense feeling that he is missing out on the next big thing in the crypto space.
Dyor
(Do Your Own Research)
DYOR is a disclaimer often used to inform the recipient of information that the info is not financial advice and he should conduct due diligence before acting upon the information received.
FUD
(Fear, uncertainty, and doubt)
FUD is a term that describes the spread of negative feelings about a crypto coin or project.
Rekt
(From the word “wrecked)
Rekt describes when a trader suffers a severe financial loss due to a bad trade or investment.
Whale
The term ‘whale’ describes a person who owns a significant amount of a cryptocurrency’s total supply.
Pump and dump
The term’ pump and dump’ describes a tactic whereby a group of crypto users manipulate market sentiments by hyping a cryptocurrency. Hence, the prices go up (pump), and then they sell all their coins (dump), which would cause the price to drop again.
Rug/Rug Pull
A rug pull is a crypto (exit) scam whereby the developers of a crypto project abandon it before completion and disappear with the funds, leaving investors with a worthless currency.
When/Wen Lambo?
(aka ‘wen moon?’)
Lamborghinis are luxury cars that have become synonymous with success in the crypto space. Mooning means that the price of a coin is rapidly increasing. Investors may ask, ‘When lambo?’ or ‘when moon?’ Meaning, when would the price of the said coin go up?
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