Alluding to the size and power of a whale, a crypto whale owns hundreds of thousands in crypto value and has the power to influence the price such that selling might result in a price dip. Learning about crypto requires a certain level of adaptation of one’s lingo. Many commonplace words like whale and moon, have different meanings in the crypto context. It’s important to know the meaning behind these terms, especially if you want to further engage with people within the community. Rugged or a rug pull refers to a method of scamming users in the space by removing funds from a smart contract without their knowledge.
In the ‘real’ world, a shill is someone who works with a con artist to help scam people into buying snake oil by pretending to be a satisfied customer. In the cryptocurrency world, a shill how to invest in real estate promotes a coin for their own gain – not out of the kindness of their hearts. Be wary of taking the advice of a suspected shill, or you might end up with a handful of vaporware.
Basically, it means that a cryptocurrency is going all the way up – to the moon, metaphorically speaking. There’s a lot of necessary bravado around Bitcoin, and this is investors’ rallying cry. Some of the most popular internet memes are acronyms or phrases borne out somebody’s mistake or typo. The story goes that in 2013 on a Bitcoin forum, someone tried to advise someone else to HOLD – that is, not panic and sell your coins – but instead wrote HODL. Coincidentally, it turned out to be an acronym for ‘hold on for dear life,’ and a legend was born. To shill is to promote a crypto for the purpose of driving it to higher prices.
You can share your public wallet key with people or institutions so they can send you money or take money from your account when you authorize it. A cryptocurrency exchange is a digital marketplace where you can buy and sell cryptocurrency. A dildo in cryptocurrency is a green/red candle that appears in a lot of graphs which supposedly want to tell you about the increase or decrease of the exchange price of a certain token. The same way a file can be “airdropped” between iPhones, NFTs can be airdropped between crypto wallets. It’s usually a boon, used in the context of an NFT project that is airdropping additional NFTs or tokens to existing holders as a reward for loyalty, or an incentive to engage further. Cryptocurrency slang is far too modern for this to be a The Honeymooners reference, so what does ‘to the moon!
Much like the term itself, HODL encourages users to hold onto their tokens for rewards in the Binance coin that are distributed every three days. The rewards are generated from taxes collected on transactions made by users, such as sale, purchase, or transfer of HODL tokens. The tax amount is converted into BNB tokens and a percentage of the gains is redistributed back to users from the collective liquidity pool. Your wallet’s address, which is similar to your bank account number.
The higher your stake, the more likely you are to be selected as a validator and receive a block reward. The digital waiting room where transactions are sent before they are included in a block by a miner. The property that describes the fact that information added to the blockchain is final; it cannot be amended. Transactions are irreversible, only an opposite transaction can be executed. A typo for “hold” that has come to mean “Hold On for Dear Life”.
Therefore, it is believed that in the case of “to the moon”, you can buy “lambo”. When there are conditions for falling prices, it is said that a “bearish” situation has developed. If there is a belief that prices have started to rise, it is considered to be a “bullish” situation. The latest news, articles, and resources sent to your inbox. Literally means “profile picture,” but in the NFT world, also means a project that often doesn’t have utility beyond use as an avatar on social media.
- Cryptoland does not rely on trusted third parties, it is characterized by the proposal and adoption of open-source protocols that are incentive-compatible within the network.
- A floor price that is higher than the mint price means a project has demand; a project with a floor price lower than mint price is usually a bad sign, investment-wise.
- This is the act of holding your position on the crypto regardless of the surrounding market environment.
- To make sense of such crypto-slang, CNBC Make It asked Peter Saddington, a serial entrepreneur and early bitcoin investor who runs a bitcoin community called The Bitcoin Pub, to break it down.
- A faucet is a website on which you can receive free cryptocurrency at certain time intervals.
People that are overenthusiastic about a coin’s prospects are labeled as moonbois. Going to “the moon” refers to a surge in price, either through marketing efforts or a fundamental increase in value. GM is short for good morning and really is only that – a way of spreading positivity and wishing others a good day. We don’t know where the expression originated and how it turned into a meme, but it has become one of the most ubiquitous memes in the web3 space.
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Altcoin refers to cryptocurrencies that are an alternative to bitcoin, the first cryptocurrency. A slang term for “address”, as in a crypto wallet’s address. Vaporware refers to a blockchain or software project that is still a concept and does not yet have a working product.
- Digital currency bitcoin has seen a tumultuous ride in recent weeks, as the price fell to trade below $6,000 per coin in June, down from a high of over $19,000 last year.
- You may have to attend a few bitcoin meetups in order to hear this one tossed around.
- To get cryptocurrency, you need to go to the specific page of an advertiser.
- UXTO is the abbreviation of ‘Unspent Transaction Output’.
FUD — whether deliberate or not — can affect the market value of a coin, a company, or a project — and even an entire market. When markets are rising, individuals may give into feelings of FOMO; when markets are cooling, FUD can spread more easily. DYOR stands for ‘do your own research.’ In crypto, it’s commonly used to remind investors to vet a project what does an it security specialist do before investing. Bagholder describes a person who holds onto their assets despite a continuous decrease in their value. They may hold their position even when an asset’s value crashes to essentially zero, usually out of hope that its price will eventually bounce back . A maximalist is another crypto slangs someone who is all in on something.
The organisation’s records are examined and checked to ensure that they fairly and accurately reflect the transactions that have been made. If it is done by employees themselves, it is called an internal audit. “To the mooooon” is one of the most common phrases in crypto.
There are so many new technical terms and slang you need to digest and understand. We are here to help with a list of crypto vocabulary to make navigating this new world just a little bit more manageable. In the early days of crypto, many wealthy cryptocurrency investors purchased Lamborghinis as a status symbol to prove their success in the market. Following that, Lamborghinis became synonymous with a crypto’s success, with many people in the community using the crypto slang phrase ‘When Lambo?
- HODL stands for hold on for dear life and expresses the intention to not sell under any circumstances, no matter how bad the volatility gets.
- Of course, Bitcoin enthusiasts would not let this typo pass.
- Only one of the two can be valid on the blockchain, so the other expires and becomes an orphan block.
- It is a financial contract, which obliges the buyer to buy a security or the seller to sell it.
For example, if a bag holder refuses to let go, he’s going to get rekt. All examples listed in this article are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by Crypto.com to invest, buy, or sell any coins, tokens, or other crypto assets. Returns on the buying and selling of crypto assets may be subject to tax, including capital gains tax, in your jurisdiction.
People who are overly enthusiastic about a coin’s prospects are labelled as moonbois or moonboys. Ape or apeing is when someone buys a token or NFT shortly after it launches without previously conducting proper research. The crypto world is full of technical jargon, slang, and acronyms. Here’s everything to know so you can join the conversation.
To the Moon
Ethereum or Litecoin are possible cryptos that will take its place. A messaging app, similar to Slack, used by many crypto projects to organize. Allows for gated channels that are exclusive to holders of beginner’s guide of forex technical analysis the project’s NFT. You may be advised to “join the Discord” for a specific project to get the inside scoop. The term itself did not originate from the crypto space but is widely used in the community.
With all the attention, jargon that was once just used for inside jokes in early cryptocurrency chat rooms and on Reddit threads has now become a part of the dialogue. Getting into Bitcoin can be pretty overwhelming not just because of its mysterious nature but also because of the number of unfamiliar words you’ll encounter. Now that you understand the most commonly used jargon in the Bitcoin community, you can sound like an expert. This article/post contains references to products or services from one or more of our advertisers or partners. We may receive compensation when you click on links to those products or services. A system that ties mining capability to computational power.
These coins can then be deposited back to a wallet, which supports the coin. 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.