Crypto slang: 44 NFT & Crypto Slang Terms You Need to Know in 2023 Udonis

CEXs are centralized due to the fact that they exercise control over the funds that a user stores on the platform. An entity or individual owning a large amount of a particular cryptocurrency is called a whale. There is no threshold to identify an entity or individual as a whale, but a distinctive trait of a crypto whale is the ability to impact the market by either buying or selling. Sweep the floor is one of the crypto slang terms commonly used in the NFT space.

They believe every other coin other than their chosen one will eventually die out. DeFi has become very popular in recent years, as it allows users to access financial services without the need for a bank or other centralised institution. “Rekt” is a term that is used to describe losing a large amount of money. For example, if you invest $10,000 in a cryptocurrency and it crashes, you might say that you got “rekt”. This term is used to describe the highest price that a particular cryptocurrency has ever reached.

Moon or Mooning

MultiSig is a type of wallet that requires more than one signature to authorise a transaction. They can be stored on USB drives, paper wallets, or offline computers. FOMO is a term used to describe the feeling of anxiety that you get when you think you’re missing out on something. However, DEXs have high risks as there is no central point of control.

To avoid pump and dump schemes, it’s important to DYOR and not invest in any project that you don’t understand. A “bag holder” is someone who owns a large amount of a particular cryptocurrency that is not doing well. For example, if you own 1,000 Bitcoin and the price of Bitcoin crashes, you will be a bag holder.

A cryptocurrency coin that was specifically created to scam investors out of money. Before investing in cryptocurrency, you should do your own research and make sure you understand where you’re sending your money. Someone might tell you about a new coin they like, but then warn you to DYOR. Corey DiNardo Corey saw the need for more accessible blockchain education after having a friend try to explain bitcoin, blockchain, and ethereum numerous times, unsuccessfully.

A “hot wallet” is a type of cryptocurrency wallet that is connected to the internet. Hot wallets are often seen as less secure than cold wallets, as they are more susceptible to hacking and phishing. A “cold wallet” is a type of cryptocurrency wallet that is not connected to the internet.

With no one controlling it, if anything happens to them or you make a rookie crypto mistake, you have no way of retrieving your crypto back. For example, if Bitcoin reaches a new all-time high of $69,000, you might say that “Bitcoin just hit an ATH”. It can also arise when different crypto communities begin arguing about which coin is better. That said, there is a fine line between shilling and simply being enthusiastic about a project, so it’s important to exercise caution and use your own judgment.

Cryptocurrency enthusiasts are building new, alternative financial assets and systems. At the same time, they’re creating new words, acronyms and phrases for their community. If you’re interested in investing in crypto or want to learn more about the space, breaking down these language barriers can be a good place to start. CEX, or Centralized Exchange refers to a type of cryptocurrency exchange that is controlled by a central authority. These exchanges typically require users to go through a KYC and AML (Anti-Money Laundering) process before they can use the platform.

Examples of popular stablecoins in web3 include DAI, USDC, and TUSD. If you are interested in learning more about stablecoins, here is anarticlethat we wrote about stablecoins and why they are important. HODL first originated in 2013 online on the Bitcointalk Forum where a user misspelled “hold” as “HODL” and it stuck. The term evolved into a community movement where the term ended up being an acronym for – Hold On to Dear Life. With the rise of popularity of web3, a whole new lingo has emerged. Here are some of the most commonly used slang terms in the cryptocurrency world, so you can understand the conversation and stay up to date on the latest trends.

Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. The related term bear whale describes a whale trader who is bearish on the market and believes prices will fall.

China’s Crypto Crackdown

FUD is often spread by people who are trying to manipulate the market, so it’s important to be careful when considering buying or selling a coin. “To the moon” is a term that is used to describe the price of a particular cryptocurrency going up. For example, if the price of Bitcoin starts to increase rapidly, you might say that “it’s going to the moon”. If you create a crypto wallet, you want to keep the seed phrase or private key very secure.

He’s also built and run a digital marketing agency, focusing on content marketing, copywriting, and SEO, since 2016. You can trust Bitcoin holders to come up with fancy names for coins you don’t want in your wallet. Vaporwave are coins that have artificially inflated value. You really can’t help it, as vaporwave will lose value over time.

The unauthorized use of someone’s computer to mine cryptocurrency. Mathematics creates codes and ciphers in order to conceal information. Cryptography is used as the basis for the mathematical problems used to verify and secure transactions on the Blockchain.

Exchange

FUD can be used in different ways, such as when a negative event “creates FUD” about a coin or when someone “has FUD” and isn’t investing. This event can be used by investors attempting to determine the best time to sell their cryptocurrency in order to get the best possible price for it. Our list of popular crypto slang terms wouldn’t be complete without DYOR.

A whale may be able to affect a crypto’s price by quickly buying or selling their coins. Now that you already know what a whale is, it’s time to understand the meaning of BearWhale. A BearWhale is a giant trader who believes that prices will fall. Because of this, they try to unload many bitcoins at the same time.

The term flippening was conceived in 2017 to describe a potential flip in the largest cryptocurrency. Specifically, it refers to a theoretical event where Ethereum overtakes Bitcoin as the leading cryptocurrency in terms of total market capitalisation . Pump and dump is a type of crypto scam where the perpetrators use misleading tactics to raise the price of a currency or an asset. NGMI is one of the most popular crypto slang terms – it stands for “not gonna make it”. The flippening refers to the potential moment when Ethereum surpasses Bitcoin and becomes the biggest cryptocurrency in terms of market capitalization.

What are crypto coins?

The term has since been adopted by the community and is often used as a way of saying “don’t sell your coins, even when the market is crashing”. “HODL” is a term that is used to describe holding onto a cryptocurrency, even when the market is crashing. The term originated from a misspelling of the word “hold” in a Bitcoin forum post from 2013. Whales can have a significant impact on the market, as they can buy or sell large amounts of a coin, which can cause prices to rise or fall drastically. The current state of the cryptocurrency market can be determined by looking at the overall trend of prices.