by One day I decided I would start trading cryptocurrencies. In that quest, I joined a trading chat room on Telegram.
There, I was surprised to see that I was not able to understand any of their conversations. The people inside this chat were using jargons and terminologies that I hadn’t ever heard anywhere else in my life.
I looked in my Oxford dictionary and couldn’t find any of these words! Then I asked my good friend Google…
From there, I learned about all these terms, and I was finally able to understand the conversations in the Telegram group.
But if you are also new to Bitcoin and the cryptocurrency space, you may not know what any of these things mean.
Am I right?
Even on cryptocurrency Reddit threads, Telegram groups, WhatsApp messages, and Slack channels, you must have noticed people misspelling “HOLD” as “HODL” despite having an auto-correct feature on their phones or computers.
In these crypto communities, offline or online, with the rise of cryptocurrencies, a new breed of lingo has also developed. If you join a crypto-conversation without knowing these jargons, you might feel left out and more than a bit puzzled.
So today, I am going to discuss a few of the popular jargon in this cryptocurrency space.
What is “HODL”?
The very first time the term HODL appeared on the Bitcoin talk forum was in 2013 and came from a member named GameKyuubi under the thread “I AM HODLING”.
From the look of the post, he was drunk and wanted to convey the fact that he was holding his BTC despite the serious fall that had just happened.
Since then, this misspelled term became very popular in the Bitcoin and cryptocurrency world. Whenever a person says in a conversation that he/she is hodling or suggests to hodl, it means that they believe their coin will be profitable one day, if not today.
So basically, “HODL” was originally a typo which has now popularly earned the status of a humorous backronym:
- “HODL” – “Hold on for dear life”
If you’re new to the cryptocurrency space, you’ve probably seen some other jargons that you don’t know about. Here’s a quick reference dictionary for some common crypto-terms:
Popular Terms every cryptocurrency day traders must know:
1. FOMO
Fear of missing out. It means the fear of missing out on the profit which might result from an investment or a decision.
The Wiki definition – A pervasive apprehension that others might be having rewarding experiences from which one is absent.
2. ATH
All time high. This means that the price of a certain cryptocurrency or coin has broken all of its past records and is trading at the highest price it has ever achieved.
3. BEAR
This is a term borrowed from the Wall Street people. This means a trader/investor who believes the prices of a particular cryptocurrency or market will fall and wants to profit from that fall.
4. WHALE
This is a term borrowed from gambling people. It means a trader with a fat account, usually one who is bullish (one who thinks the market will rise) on the price of any specific cryptocurrency. These people are also referred to as bullish whales.
5. BEARWHALE
This means a trader with a fat account who is bearish on the price of a cryptocurrency.
6. BAGHODLER
This is an investor or a trader who has been holding (or hodling) for too long on a particular cryptocurrency and now has to face the consequences of that decision.
7. REKT
This is a misspelling of “wrecked”. This term refers to a trader or investor who is utterly ruined and destroyed with losses from the current downfall of a price.
8. TO THE MOON
This refers to a crypto’s upward momentum as it keeps climbing in price, as in, “The price of this coin will one day go to the moon!”
9. ADDY
This refers to a cryptocurrency public address (or key). For example: “Tell me your ADDY, please.”
10. FUD
Fear, uncertainty, and doubt. This term usually refers to investors who are unsure of the potential of a situation.
11. CHOYNA
A deliberately distorted way of referring to China. As China is a country which is immensely influential in the Bitcoin space, it has largely dominated mining and trading activities.
12. ALTCOIN = Any cryptocurrency other than bitcoin.
13. ASHDRAKED = A situation where you lost all your money.
14. BTFD = Buy The Fucking Dip (an indication to buy a coin when it has dumped so hard)
15. DILDO = Long green or red candles
16. DUMP = To Sell off a coin
17. DUMPING = Downward price movement
18. DYOR = Do Your Own Research
19. FA = Fundamental Analysis
20. JOMO = Joy Of Missing Out
21. LONG = Margin bull position
22. MCAP = Market Capitalization
23. OTC = Over The Counter
24. PUMP = PUMP refers to someone with sufficient funds (a WHALE, in other words) to be able to make a significant purchase that results in a rise in the price. This is the PUMP (pumping up the price). When the price inflates to a level that suits the whale, they jump back into the market and sell, thus netting a tidy profit. This is the DUMP. Many influences cause a crypto’s price to vary. Pumping and Dumping is when this is deliberately done by a buyer (who then becomes a seller) for a short-term gain. It’s usually at everyone else’s expense (or at least, the ‘little peoples’ expense), so it’s a selfish trading activity.
25. SHITCOIN = A coin with no potential value or use
26. SHORT = Margin bear position
27. SWING = Zig zag price movement (Upwards and downwards)
28. TA = Technical Analysis
29. REVERSE INDICATOR = Someone who is always wrong predicting price movements.
Disclaimer: These terms are all used for fun and humor. I have collected them from the internet and chat rooms via various resources. Moreover, as they are subjective terms, I don’t hold any responsibility for the correctness of exact meanings.
Know some more common crypto jargons that I can add to this list? Let me know about them in the comments below!
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Wow these are great explanations
Thank you so much for putting this together. I came here looking for the definition of HODL. Thanks again!
Sudhir – Could you please refer the best wallet and exchange cryptocurrency platform besides coinbase? I have been researching for the past 3 days nearly non-stop and keep running into road blocks. I registered (almost complete) with coinbase till they wanted a copy of my license and 2nd photo ID. I thought that was creepy so continued on to register to Exodus. You can’t buy or sell in Exodus unless you have BTC. They tell you to buy from coinbase. With all the IRS action I don’t want to use coinbase. I tried to register in Kraken it was down saying they had too much activity> YIKES! Any suggestions?
You can check some Coinbase alternatives here- https://coinsutra.com/coinbase-alternatives/
Coinigy
Haha awesome I use these terms on my bitcoin podcast all the time. Especially with Cardano (ADA) coin I am Super HODL!!!
Thanks for the detailed explanations… Woow!
Came here searching for “HODL” … Lol… Funny term 🙂
Very generous with your helpful information. It’s refreshing. Thanks Sudhir
Cheers! Let’s teach others friends & family members too about cryptos. They will need a helping hand to thrive…
Hi Sudhir. Can I direct message you my friend? Nice write up by the way
I think you shoudl hodl a responsibility for the correctness of exact meanings, because we all read that and will use
It wasn’t a man who coined the word Hodl. The OP was a woman.
Great stuf!
Please add “Pump”
-Used to gain interest in a particular crypto.
dump and pump, please add ittt
Thanks for the detailed explanations!
Came here searching for “HODL” Lol
Sure will add that!
Hi, my question is which coins should someone hodl now apart from BTC, cause bitcoin is so costly now.
LTC, ETH, XMR
Pump & Dump
Is when a significant person or group in terms of number of followers on social networks, announces something good or bad, as for a coin and immediately the price rises or falls respectively exorbitantly.
Good read Sudhir.
Much better than “Covfefe”
Hey Sudhir,
From a long time, I was wondering about what does HODL means as most people in forums use this slang.
Thanks for sharing. Great collection!
There are a few types of people involved here:
The True HODL’r: Puts “play money” into the crypto market with no foreseeable reason for needing that money at all and truly invests into the idea of whatever currency they buy.
The FODL’r: Puts money into the crypto market with the intentions of letting it grow but runs into hard times and is forced to sell due to personal circumstances.
Trader: These guys work all day to make a few bucks and push the ‘buy low, sell high’ idea of our market. A valuable asset but not necessarily for everyone.
The Lover: Wants to be in, affords to be in a little but can’t fully commit because of financial situation. Often a DCA enthusiast and maybe smart about they’re purchases but limited due to their enthusiasm about the Big 3 over the whole market. (I’d rather wait to date a 7 then settle for a 4 mindset)
The SODL’r: The type we love to help us buy more.
The Other Guy: This guy is either here for karma or money. They don’t really see anything…just a fashion that they may or may not understand. Their importance in the market could be devastating or inconsequential… these people exist as millionaires and ‘hundredaires.’ Let’ em play.
“You and I”: We’re here, we’re in. We are the early-‘ish’ adopters that are hoping to be happy in 5 years that we were aware early enough to recognize a good, upcoming market. We play our money as smart as we can and hope for the best. Our lives can be made but never broken by the crypto market.
“The Forgotten”: Real heroes. These guys invested significant amounts early and forgot. They either lost their account info or don’t care enough to check but they are permanently invested either way. They deserve a moment of silence.
@Nick Nice segregation !!
You should probably add what a Satoshi is – you hear a lot of talk about xyz # of satoshis and usually from conversation it’s at first unclear what relationship that has to BTC, although it appeared to have something to do with the founder/creator of BitCoin. At first I thought it was some kind of joke reference, another “bacronym” or perhaps some other kind of alt coin! n00b! 😀
I later did a bit of Googling:
According to satoshitobitcoin.co, “What is a Satoshi? Each bitcoin (BTC) is divisible to the 8th decimal place, so each BTC can be split into 100,000,000 units. Each unit of bitcoin, or 0.00000001 bitcoin, is called a satoshi. A Satoshi is the smallest unit of Bitcoin.”
For those who don’t know, according to Wikipedia, “Satoshi Nakamoto is the founder of Bitcoin and initial creator of the Original Bitcoin client. He has said in a P2P foundation profile[1] that he is from Japan. Beyond that, not much else is known about him and his identity. He has been working on the Bitcoin project since 2007.[2]
His involvement in the Bitcoin project had tapered and by late 2010 it has ended. The most recent messages reportedly indicate that Satoshi is “gone for good”[3].”
I think you didn’t see it – https://coinsutra.com/what-is-satoshi-btc-usd-converters/
We already have it. Thanks
HODL can also have one other meaning other than “Hold on for dear life”, and that is “Hold on despite loss”.
Cool!!
Hi Sudhir,
Nice explanation of typical trading terminology.
Please add “FOMO” as well to the list
Wow, this is great, succinct and up for help. Came searching for the meaning of HODL, but met quite a number of acronyms that could help me in the world of cryptos. It didnt take me long to share it among friends and acquaintances. Thanks for the explanations.
Keep Coming @Chukwu
You’d add sats as well
You mean Satoshis?
Thank You Dear: clear explanation
Today I am REKT, with all the BEARWHALE in CHOYNA, the BAGHODLERS do what they do when there is FUD, yet in spite of the BEAR the newbies are going ATH and TO THE MOON, wish I was a WHALE I would use my ADDY instead of HODL and feeling FOMO.
Quite innovative 🙂
Thank you very much for this. Could you comment for us the recent communication by Indian officials about cryptocurrencies?
For now, Crypto or Bitcoin none of them is banned. The statement was misinterpreted by the mainstream media who predominantly don’t understand how Bitcoin works.
Our clarification post is ready to go live anytime so keep an eye on CoinSutra today.
Ya’ll ain’t got nothin’ over US’ns. We’all down South here been usin’ HODL for the longest time…HODL your Confederate Money Boys, the South will rise again, or some such paraphrase, just to tickle your fancies, that’s all, JOKE that is, goes the way of all fiat, know what I mean, Verne?
Lots of words you described comes from the wall street world. Trading is the same, no matter what asset are you using for.
I always thought HODL meant hold long as in long term. Thanks for the info. I never drink unless I’m rekt!
newbie in Crytocurrency. this helped me somehow understand jargons i usually read. Ive been into Airdrop as well and received some tokens (now with value already) but don’t know how to earn them like for real money… if there is someone with a good heart willing to help, thanks in advance..
I usually see these terms on facebook and i never know what they mean. finally now i know
Thank you for this great compilation!
umm just want to drop this:
in the group of professional traders(more than 90%) we are using HODL as Hold Over Dividing Line. Other meaning is used by 0.0xxx coin traders