Crypto Slangs
Hello subs! Thank you to the 2 new subscribers who have joined Cryptalks on the journey of learning about the future. Our community now stands strong at 43 members. Really stoked to have y’all!
You are probably looking at the title of this post and wondering why I don’t use Grammarly. That’s because HODL and SAFU are not spelling errors. They are backronyms in the cryptoverse. Y’all have read a bunch of educational not-so-boring posts in this newsletter but because I love y’all I decided to make this post a little more entertaining. Think of this piece as your baptism for the cryptoverse.
In today’s newsletter we’re going to look at the most widely used crypto slangs so when you introduce yourself as a reader of Cryptalks to others in the space, you aren’t clueless about the terms they use. I won’t send y’all unprepared for the social test guys. So let’s jump right in!
SAFU - Backronym for safe. Are your funds SAFU in a centralised exchange? Not at all! Get yourself a Metamask wallet or a hardware wallet! Find out how to here.
HODL - Backronym for hold. It’s used when you buy a token and it loses it’s value by 60% but you HODL because you are a believer and in it for the long term.
💎 hands - HODLers are called diamond hands because like diamonds, they don’t crack under pressure. You better be 💎 hands, reader!
Paper hands - Traders who sell at the first sign of danger. They are NGMI.
NGMI - Not gonna make it. If you don’t believe in crypto, you shouldn’t be reading this and oh, you’re NGMI!
WAGMI - We all gonna make it. That’s right, WAGMI Cryptalks fam!
LFG - Let’s fucking goooo! Used when you’re excited about something.
FOMO - Fear of missing out. My advice to y’all is to never buy into a project out of FOMO. Always DYOR!
JOMO - Joy of missing out. When a project you did your research on and chose not to invest in tanks.
REKT - Misspelled wrecked. When a trader apes into a project and is in heavy losses because of it. Funny story, I’ve been rekt a couple of times and I’ll tell you an interesting story if you keep reading and hit the like button. 🥲
Wen Moon/Wen Lambo - Usually asked to other HODLers. An act of asking when are we going to get rich.
FUD - Fear, Uncertainty, Doubt created by false statements to drop the prices so that they can buy the token on the cheap.
JP Morgan created FUD around Bitcoin back in 2019 to buy it at a bargain price.
Whale - Dude with a lot of tokens of a cryptocurrency
Bagholder - A trader who has a lot of coins of a particular cryptocurrency but is unwilling to sell because the price is meager. (This is me in my REKT story.)
DUMP - Downward price movement
PUMP - Upward price movement
ALT-COIN - Any cryptocurrency other than bitcoin
ASHDRAKED - A situation where you lose your entire investment. Apple would call it REKT Pro Max.
BTFD - Buy the fucking dip! An indication to buy a token when it has been dumped hard.
SHIT COIN - A coin with no potential value or utility.
SOL - Shit out of luck. When you’ve been losing money for a while and you just can’t catch a break!
APE(D) IN - When you throw in way more money than is reasonable into a highly dubious project. Urban dictionary has given an amazing definition for this. Check it out here.
FTC - For the culture.
Rug pull - When the developers of a shit coin take all your precious Ethereum and render the shit coin worthless in the process.
Shill - Advertising of a project (before it ends up being a rug pull)
GM - Good morning. You greet all your fellow Cryptosapiens with gm.
That’s that fellas! I’m sure I've missed out on a few so help me out in the comments please? Let’s hear my story now. Dad, if you’re reading this, now is the time to stop otherwise I’m NGMI home today.
Late last year, I aped into a shitcoin. Why did I ape in? Well, I did it FTC. The name of the coin was $GM. That was my first and last shit coin purchase (yet). I learnt my lesson. Always DYOR. But, sometimes just do it FTC yeah? No! (Yes!)
Oh I forgot one more, NFA - Not financial advice. Nothing I say in any of the posts is!
Happy reading y’all, I’ll see you on the next one. Don’t forget to drop a like if y’all learnt something valuable today. It takes less than a minute and it helps the substack algorithm to show this newsletter to more people! It also low-key (high-key) makes me feel good when y’all show some love. 😜
If you haven’t subscribed yet, I’m sorry to say but you’re NGMI. Click on the button below and confirm your subscription!