Crypto Slang – 10 Phrases You Should Know

In the world of the internet, buzzwords change frequently and quickly. If we want to understand current trends, it is necessary to know these terms. Without this knowledge, we can fall behind, and the market does not wait.

Bitcoin Maxi’s meaning
A bitcoin maxi or maximalist, as the name suggests, refers to those who are exclusively interested in BTC in the world of cryptocurrencies. They are convinced of its superiority over other coins. They believe that only bitcoin has true value. However, it is not necessarily a pejorative term (although it is sometimes used in a negative sense). Bitcoin maxis are often early adopters (i.e. they bought at the beginning of the crypto boom) and have owned almost only BTC ever since. It is not uncommon for them to identify to a large extent with Satoshi Nakamoto’s original goals and views regarding digital currencies.

Diamond Hands and Paper Hands’ meaning
“Diamond hands” are traders who hold a given coin until the penultimate moment, regardless of the market situation. Nothing can influence them, there is no -90% drop that would make them willing to sell their crypto. It is practically synonymous with very high risk taking. It is often contrasted with Paper Hands, who do the opposite. For them, even a minor correction can be enough to sell their crypto. In such cases, diamond hands blame paper hands for the break (since the price of a coin with a low mcap can be greatly reduced by mass selling). According to the diamond hands mentality, whoever holds on will eventually make a big profit. However, this attitude usually ignores the realities of the market.

Bagholder’s meaning
“Bagholders” are investors in the crypto market who never sell their assets. Unlike diamond hands, the slang word has a much more negative connotation. There are several explanations for what is behind the bagholder mentality. Buying out of FOMO, failing to manage your portfolio due to lack of time, or holding onto bad positions for psychological reasons.

FOMO’s meaning
FOMO, or “fear of missing out,” is a slang term widely used in the age of the internet and social media, but we’ll focus specifically on the crypto meaning. FOMO is a trading or investing behavior where someone is afraid of missing out on a potentially profitable opportunity and buys because of it. FOMO is not dictated by logic or reason, but solely by emotions. Exponential rises and -80% falls are often driven by FOMO.

HODL’s meaning
The word “hold” is an intentional misspelling, although some interpretations suggest it stands for “hold on for dear life.” In crypto slang, it is synonymous with long-term investment. When someone HODLs, they are not concerned with short-term price fluctuations, but rather hold their investment regardless of them. These individuals are called “holders,” referring to the long-term holding of a coin in their portfolio.

FUD’s meaning
FUD is an acronym formed from the initial letters of the words “fear, uncertainty and doubt”, and literally means fear, insecurity and doubt. It is basically present not only in the crypto world. It appears in sales, marketing, but also in politics, when someone tries to influence people’s perception of reality by spreading negative or even false information, thereby instilling fear in them and leading them to take some action. In the crypto world, it is usually used for two distinct phenomena.

On the one hand, when someone intentionally creates fear and uncertainty about a given coin or project in order to negatively influence the price.
On the other hand, when someone is skeptical about crypto as an asset class and only spreads negative, possibly unfounded information.

Moon’s meaning
The slang term is used for cryptocurrencies that, according to some predictions (or just coin enthusiasts), are about to skyrocket. In other words, their price is so high that it will metaphorically reach the moon.

Pump and Dump’s meaning
In a broader sense, it refers to the phenomenon when the price of a given token suddenly increases dramatically, almost out of nowhere. Then, as quickly as it rose, it falls back. It usually occurs in the case of (often meme) coins with low market capitalization. In addition, a certain type of scam is called pump & dump. In this scam, a group of investors suddenly starts buying a certain “dead” coin, thereby driving up its price, and then sells it almost immediately – to the detriment of those who learned about the “opportunity” late. In such scams, it is important to know that an insider circle always learns about the selected coin before the general public, so their profit is guaranteed – to the detriment of others who only join later.

Shill’s meaning
Shilling is when someone, often without objectivity, promotes a cryptocurrency and encourages people to buy it. This activity is often carried out by influencers who receive money for advertising a memecoin, for example. The person is called a shiller, the activity is called a shilling.

Whale’s meaning
Whales are individuals who own large amounts of cryptocurrency. With their capital, they are able to make a significant impact on the market and move the price with a single purchase or sale. Investors usually track the activity of whale wallets, as this can help them identify future market trends.