Are you new to the world of cryptocurrency? Are you baffled by the jargon and terminology that’s thrown around with ease in industry conversations? Don’t worry, you’re not alone. It can all be a bit overwhelming for beginners. To get up to speed, its critical to understand some common abbreviations and industry-specific terminologies. I have compiled a list of crypto lingo so you can sound like an insider in no time and use in day to day Crypto environments (Twitter, Reddit and other Networking Sites). Now, you can get ahead of the curve and join the crypto narrative with ease!
FUD – Fear, Uncertainty & Doubt. Usually the time when market is volatile.
HODL – Hold onto dear life…or just Hold (stake / don’t sell yet). It is said that HODLING started as a misspelling of Holding – which means don’t sell.
LFG – Let’s Go. A spirited response to the bullish market.
TTM – To the moon. The moment we all get rich.
REKT – Misspelling of Wrecked. When someone loses and is ruined from a price crash.
WAGMI – We are all gonna make it. A positive sentiment in crypto community to build confidence and encourage everyone to not lose hope.
GMI – Gonna make it. Shorter version of WAGMI, yet as spirited.
CT – Crypto Twitter. Twitter is one of the most important platforms for discussions on blockchain, crypto, NFTs etc.
MVP – Minimum viable product. A bare minimum product that is often built in speed to be scaled later.
Buy the DIP – ‘Decline In Price’ is is an opportunity to purchase assets.
Nocoiner – A person who scoffs at cryptocurrency, a person without a coin. Cynic, skeptic.
DYOR – do your own research. Don’t just jump in looking at sudden market trends or hearsay, do your research properly.
DAO – decentralized autonomous organization – Members of a DAO own tokens of the DAO.
GM – Good Morning…but an extremely positive outlook.
Altcoin – any coin that came after Bitcoin.
Shitcoin – cryptocurrency that’s useless and has no value.
Crypto Winter – The forecast that crypto will slump.
DeFi – Decentralized Finance.
TradeFi – Traditional Finance.
Dex – Decentralized exchange.
GameFi – Decentralized apps, majorly games. Also known as play-to-earn.
Fiat Currency – paper notes. Issued by governments.
NFT – Non-fungible tokens
Staking – Holding your crypto or lending it.
TVL – Total value locked.
Yield Farming – Lending your tokens to earn interest – APR. They are also called liquidity providers.
APR – Annual percentage revenue.
HFSP – Have fun staying poor.
USDC – USD Currency – fiat.
USDT – USD in tether…it’s pegged same as USD cost.
Noob – A n00b, noobie or newbie; refers to the idea that someone is new to a game, concept, or idea; implying a lack of experience.
Midwit – It utilizes Horseshoe Theory, suggesting that those with very high intelligence (on the right of the curve) and those with low intelligence (on the left of the curve) often agree with each other (for different reasons), while those in the middle with averaged intelligence, also referred to as midwits, usually hold the mainstream opinion.
When Lambo – when the cryptocurrency holder will be able to purchase a Lamborghini or become rich as a result of their crypto assets.