Don't Feel the FOMO - Crypto Slangs Explained
Last updated
Last updated
As a beginner, it may be difficult for you to understand the crypto jargon and join the conversation with other enthusiasts. Don’t let that steal your interest; we’ll explain perplexed acronyms and other phrases so you will be a pro in no time and WAGMI!
WAGMI/NGMI
WAGMI stands for “We All are Gonna Make It” and is frequently used to build confidence and encourage the community to not give up on a project/token and not lose hope. On the other hand, “NGMI” stands for “Not Going To Make It” and expresses disappointment and frustration on a project or financial decisions that can not be reversed. However, it can also be used as a humorous way to poke fun at oneself or a project with an absurd idea or a name.
Stands for “Fear of missing out”, it refers to the crypto investors’ fear that they may be missing out on the next big thing and ultimately making a loss. This driving force makes individuals act on their impulses and make their investment decisions based on their emotions rather than reasoning, logic and analysis. It is a prevalent concept in crypto and can affect cryptocurrency prices and incur significant financial losses.
HODL
Refers to the “buy and hold” strategy and stands for “Hold on For Dear Life”; it is derived from the misspelling of the word “hold.” HODLers seek out the long-term values in cryptocurrencies and do not let go of their positions even through market crashes and volatility.
Moon
Moon or Mooning refers to a belief that a particular token/coin will have an upward price projection. It means the price is going so high that it is going to the “Moon.” It is usually used to motivate someone. “Moon Project” refers to a cryptocurrency project’s token that is anticipated to go very high.
DYOR
NFA
Similar to DYOR, NFA stands for “Not Financial Advice”. It is used by individuals sharing crypto information, and there is a disclaimer that it is not professional advice and that users must consult a professional before making financial decisions.
Whale
A whale is a person or organisation that possesses significant holdings of a particular cryptocurrency. There is no specific amount to be considered a whale. But it usually refers to a sum enough to manipulate the price. A whale's activities have the potential to temporarily enhance volatility due to the scale of their orders, particularly in assets with low liquidity.
FUD
"Fear, uncertainty, and doubt" is what FUD stands for. It's a psychological ploy to make people think negatively about something. Usually, it involves distributing false information or generating fear. It is either done intentionally to induce fear in investors. Thus, prompting them to sell their assets and causing the price to drop. Or it could also involve spreading general skepticism and negativity about a project.
These phrases represent market trends that also apply in traditional stock markets. In the crypto jargon, they mean anticipations about a project or the market in general. If a person says that they are Bullish on something, it means that they anticipate that the price will go up, and if they say that they are bearish, it means that they think the price will go down.
When Lambo?
When Lambo? or Wen Lambo? Means when will you buy a Lamborghini? Many affluent cryptocurrency investors bought Lamborghinis in the early days of the market as a status symbol to demonstrate their success. After that, Lamborghinis came to be associated with cryptocurrency success. People in the community use this phrase to encourage each other that the cryptocurrency they bought will one day be worth enough to buy a Lamborghini.
It refers to a scenario where investors buy a large amount of cryptocurrency when its price is low. They see the price decrease as an opportunity to buy more and enhance future gains because they anticipate that its price will go up eventually.
Bag & Bagholder
The term "bag" in the context of cryptocurrency refers to the tokens and coins that a person possesses as part of their portfolio. It is usually used to refer to a large portion of a specific cryptocurrency. When the value is quite high, the holder can refer to it as a “heavy bag.” Additionally, when investors hold their “bags” for a long time, they are referred to as “bagholders.” In typical use, a bagholder means someone who does not sell their crypto assets even if the market conditions are deplorable.
There are many acronyms and jargon that crypto investors use when chatting with each other. The crypto community is very welcoming and friendly. So, don’t be afraid to make mistakes when using this new jargon. It may be difficult at first to remember everything, but you’ll become familiar with them quickly. Happy trading!
Stands for “Do Your Own Research”. It is a caution to remind the investors that they should do their own research, do not listen to anyone that gives financial advice and be aware of the risks that are associated with trading. It is usually used by crypto influencers who promote something to relieve themselves in case of a backlash. Please refer to to explore more about this concept.