f you’re new to the crypto world and plan on sticking around, it may be a good idea to learn the lingo. There are many words and terms thrown around in the crypto community that can be confusing to newcomers. It can be quite daunting to hear terms like HODL or NFA and think it’s some sort of mathematical equation, but no, they are simple to understand and frankly, important to know!
Top 15 Crypto Terms You Should Know
In this article, we are going to go through the 15 most important and popular crypto terms you should know. None will be placed in any particular order.
The term ‘NFA’ is an abbreviation of ‘Not Financial Advice’ and is possibly the most popular term used by crypto influencers. Generally, when someone posts about a cryptocurrency on social media (e.g. X), they will also add NFA as a simple disclaimer to warn followers that it is Not Financial Advice.
Following the term NFA, you can also expect to read the popular term DYOR alongside it. ‘DYOR’ is short for ‘Do Your Own Research’ and as you may guess, it is a simple message to remind you to conduct your own research before deciding to invest in cryptocurrencies. NFA and DYOR go hand in hand and you will see these terms used by almost every crypto influencer!
Within most crypto communities you are bound to find people, influencers or media outlets causing ‘Fear, Uncertainty and Doubt’ (aka FUD). FUD simply refers to the people who are spreading false or negative information about a specific cryptocurrency or protocol. This links back to Term 2, DYOR which warns you to Do Your Own Research before coming up with an investment decision.
One of the oldest and most popular investing strategies is ‘Dollar Cost Averaging’ (DCA). Dollar Cost Averaging is simply the process of investing a fixed amount of money into a crypto spread over time, instead of investing it all at once!
Possibly a favourite amongst crypto enthusiasts is the term ‘HODL’ which means ‘Hold On for Dear Life’. As you may have guessed, using the term HODL means to hold the crypto and not sell it. Remember to refer back to Term 2 and conduct your own research (DYOR) before making any investment decisions.
Emotional investing is dangerous and most of us happen to suffer from ‘FOMO’ and you may not even know it. FOMO is short for ‘Fear Of Missing Out’ and is a term used when people make irrational investing decisions and buy or sell into a crypto, based on news or information they have heard.
Every cryptocurrency on the market has an ‘ATH’ or ‘ATL’ and they are abbreviations for ‘All-Time High or Low’. ATH/ATL are just the highest or lowest price points of a cryptocurrency. For example, according to CoinMarketCap, Bitcoin’s (BTC) ATL is $0.04865 with and ATH of $68,789.63.
An ‘Altcoin’ is simply a cryptocurrency that is not Bitcoin (BTC). Altcoin is an abbreviation of ‘Alternative Coin’ and is a very popular term used in the world of crypto.
A crypto ‘degen’ or ‘degenerate’ is someone who regularly invests or trades in high-risk cryptocurrencies. Investing like a degen is not recommended and is not for the faint-hearted.
Sadly, crypto ‘Apes’ usually suffer from FOMO (Term 6). Apes are simply investors who buy a cryptocurrency as soon as a new project launches, without conducting the necessary research. This is also known as ‘Apeing’ into a crypto!
A crypto ‘Whale’ is a term given to an individual or organisation that holds a large amount of a specific cryptocurrency’s supply. Whales even have the power to manipulate markets, depending on the volatility of the cryptocurrency.
Rugs are a daily occurrence in the savage world of crypto. A ‘Rug’ is a term used when a project drains and steals all the liquidity of its cryptocurrency, leaving investors of the asset with nothing.
The battle between the ‘Bulls’ and ‘Bears’ will never end. As a Bull, being Bullish on a cryptocurrency is when you believe the cryptocurrency or market sentiment, in general, is going to rise in value. On the other hand, Bears who are Bearish are those who are determined the cryptocurrency/market will fall in value.
The majority of crypto investors use social media to stay up to date with the latest cryptocurrencies and trends. In short, a ‘Shill’ is someone who promotes a cryptocurrency for their own benefit. Shills generally have a large following on social media and can create hype around a certain project/crypto.
Those with faith in a cryptocurrency and believe that it will rise in value, tend to throw around a popular term known as ‘WAGMI’, which is short for ‘We’re All Gonna Make It’. On the other hand, we have ‘NGMI’ which is slang for ‘Not Gonna Make It’. Those who throw around the negative term, NGMI generally are against a certain cryptocurrency and believe it will fail.
While there are many more crypto terms out there, these should give you a basic crypto vocabulary to get started. Most communities in the world of Web3 will use the fifteen crypto terms mentioned in this article, so if you are new, this article should be perfect for you!
The content provided in this article is strictly intended for informational purposes. Nothing said in this article is financial advice. It is important to proceed with caution and diligence when using cryptocurrencies. Always invest what you are prepared to lose and remember that you are entirely responsible for your assets and investments. The author and the publication do not endorse or recommend any of the cryptocurrencies, protocols or strategies in this article.