Cryptocurrency slang used daily by Bitcoin enthusiasts: from the meaning of hodl to going to the moon

Entering the world of cryptocurrencies, you’ll notice a flood of unique terminology flying around. What does hodl mean, and what does “going to the moon” signify? This time, we’ll explain 21 essential terms that Bitcoin investors use daily.

Terms Related to Emotions and Psychology

FOMO (Fear of Missing Out) and the Difference Between Bullish and Bearish

FOMO stands for Fear of Missing Out. It describes the impatience and anxiety when you see friends excited about Bitcoin and suddenly want to buy. On the other hand, bull markets (bull) indicate an upward price trend, while bear markets (bear) refer to a downward trend. During bullish markets, FOMO tends to be strongest, prompting many new investors to enter at this timing.

FUD (Fear, Uncertainty, Doubt)

When negative news or rumors spread, people’s psychology becomes unsettled. FUD is a way to verbalize this anxiety. Especially during market downturns, FUD tends to spread widely.

Terms Describing Investment Behavior

hodl: A Long-term Holding Strategy That Remains Unfazed by Price Fluctuations

Among all crypto terms, the most iconic is “HODL.” It is an abbreviation for “Hold On for Dear Life.” The origin dates back to 2013 when a user, excited, mistyped “hold” as “hodl.” Since then, the community adopted this term, and it has become a synonym for a long-term crypto holding strategy.

Contrasted with HODL are Diamond Hands and Paper Hands. Diamond Hands refer to investors who refuse to sell even under heavy selling pressure, while Paper Hands describe those who sell early at slight dips.

Buy the Dip (BTD)

A strategy of purchasing assets when prices fall. Similar to shopping during a department store sale, this approach involves buying Bitcoin at low prices and waiting for future rises.

Terms Related to Market Manipulation and Losses

Shill (Promotion)

If someone keeps excessively promoting a specific cryptocurrency, it might be shilling. It involves artificially boosting the price by encouraging others to buy when the promoter’s own holdings are underperforming. All for personal gain.

Pump and Dump

A fraudulent tactic where a group intentionally manipulates market psychology. They first inflate the price with false information (Pump), then all sell off at once (Dump), causing a sharp crash. Latecomers suffer the most damage.

Rekt (Destroyed)

Short for “wrecked,” it refers to suffering significant losses in crypto investments. Investors caught in Pump and Dump schemes or those who fail in leveraged trading are said to be “rekt.”

Bagholder

Someone who continues holding their assets after a sharp price drop, often holding near worthless tokens.

Terms Related to Markets and Assets

Market Cap

The total value of a specific cryptocurrency. Calculated simply as: current price × circulating supply. It allows comparison of the scale between Bitcoin and altcoins.

Whale

A large investor holding more than 5% of the total supply. Since whales can influence the entire market when they move, many traders monitor their actions.

Sats (Satoshis)

The smallest unit of Bitcoin, where 1 Satoshi = 0.00000001 BTC. Using this unit makes small investors feel like they are investing in Satoshis.

Going to the Moon

Refers to the belief that Bitcoin’s price will rise significantly in the future. If an investor says “BTC is going to the moon,” they expect substantial returns ahead.

Terms Related to Projects and Technology

ICO (Initial Coin Offering)

The crypto equivalent of an IPO (Initial Public Offering). When a new project raises funds from the public, it sells new tokens. Investors participate with hopes of the project’s success.

NFT (Non-Fungible Token)

A unique digital asset with a specific identification code. Examples include tweets, digital art, audio files, and more.

Vaporware

Refers to software projects that are announced but never actually developed. Despite heavy promotion and hype, they ultimately remain unfinished. Some crypto projects also fall into this category.

Terms Related to Community and Beliefs

WAGMI (We’re All Gonna Make It) / NGMI (Not Gonna Make It)

WAGMI is an acronym for “We’re all gonna make it,” used to encourage and motivate within the crypto community. Conversely, NGMI stands for “Not Gonna Make It,” indicating a failed investment or a lack of success. These terms are frequently used on Twitter and Discord groups.

No-coiner

Refers to people who do not believe in Bitcoin’s future. They think cryptocurrencies will fail or have minimal future value and do not hold any themselves.

Cryptosis

Describes an insatiable craving for crypto knowledge. Symptoms include constant forum browsing, persuading friends to discuss crypto, and minimizing risks during trading. It sounds like an illness but is not life-threatening.

Terms Related to Trading and Regulation

KYC (Know Your Customer)

An abbreviation for verifying user identity. Most crypto exchanges implement KYC rules to comply with regulations and ensure market safety.

The more you immerse yourself in the crypto world, the more these terms become like a second language. Starting with understanding hodl, you’ll grasp market psychology, investment strategies, and community culture—all condensed into these slang terms. As a Bitcoin investor, knowing these words will deepen your understanding of market movements.