Introduction
At the time of writing this, the slang, Rekt, would have been appropriate in describing the state of most crypto enthusiasts as the market experienced a huge plunge. Coins many were advised to (HODL) Hold On for their dear lives suddenly hit negative digits, sadly leaving holders, Rekt—at a terrible financial loss. The Crypto space is replete with various phenomena and to meet up with the fast and ever dynamic crypto market catering to a chiefly young population, the use of slangs is highly necessary.
Here are 8 crypto slangs to help you keep up with the crypto space.
- FOMO – “fear of missing out.” This is a psychological state that is based on envy of not benefitting from a particular venture or activity which could have great yields in the near future. In the crypto market this can be seen as investing in an asset simply based on surrounding talks of an unproven potential.
Usage: “Man, I am sad, this FOMO got to me! I bought an all-time high recently, and it’s crashed”
- Rekt – In plain terms “wrecked” is used to describe a situation of a great loss in the crypto market. Due to the high volatility of the crypto market, this slang is fairly common.
Usage: “After LUNA plunged last week, I was rekt.”
- HODL – This is one of the most popular on the list. Most crypto enthusiasts must have come across HODL (Hold on for dear life). The term’s origin was born out of a simple mistake in a bitcoin forum. During a period of high volatility in 2013, a Bitcoin investor, in a bid to look out for fellow holders of the coin mistakenly misspelled the word, HOLD as HODL. Many misinterpreted it as ‘Hold on for dear life’ and since then it has become the preferred term to implore people to hold instead of selling.
Usage: “Bitcoin just crashed, but don’t sell, HODL!”
- FUD – “fear, uncertainty, and doubt.” FUD is the spread of these emotions to prevent further purchase of a coin or possibly to make holders sell over fear of an imminent crash. Additionally, this can be used to plunge a coin’s price by creating a panic, making the coin lose value and leaving holder’s rekt.
Usage: “She panicked and sold all her coins because she gave into the FUD on the internet.”
- BTD – “buy the dip.” This is another common slang on the list. It is simply a call to immediately invest in an asset following a plunge in its value in hopes that it will revert to its previous value or reach a new all-time high.
Usage: “Hey! the coin just plunged; I suggest you BTD.”
- Shill – Propaganda meets crypto. Shilling is mostly employed by pump and dump schemes. It simply means the use of mass media or false narratives to influence the value of an asset. Crypto influencers are fond of using this method to pump tokens. as Additionally, the idea of shilling is generally frowned upon by the crypto space.
Usage: “I hate when people shill coins on twitter for their profit.”
- Bagholder – I love these guys. Bagholders are investors who bought an asset at an elevated price, and even after a steep plunge they still hold on to the asset in hopes that it may revert back to a good value.
Usage: “That coin is going to be in negatives soon, you better sell, or you’ll be a bagholder.”
- Whale – This is someone or a company that has acquired a significant proportion of an asset. Allowing them to influence the market with a single trade.
Usage: “If the whale sells his position, the market will move drastically.”
Conclusion
The crypto space is always on the go and these slangs have come in handy in keeping up with its pace. The slangs are fun to use with some good origin backing them up. If you’ve been on crypto forums with a confused face, I believe this article by Education Ecosystem must have straightened your face, possibly with a smile after learning about these slangs.
