HODL originates from a 2013 post by GameKyuubi on Bitcoin forum Bitcointalk that explains why he is still holding onto his Bitcoin despite its crashing price. It means hold, as in, to hold cryptocurrencies instead of selling them. HODL: HODL is another misspelling that caught on and became a key cryptocurrency slang word. Beyond Binance, SAFU is interchangeable with safe. After the world’s largest crypto exchange, Binance, was hacked in 2018, the company’s CEO declared that “all funds are safe.” According to Binance’s etymology of the term (which makes no mention of the hack), a YouTuber called Bizonacci posted a viral video titled “Funds are Safu.” Binance quickly claimed the term for itself, naming a billion-dollar insurance fund the Secure Asset Fund for Users (SAFU). There is no standardized definition as to what a whale is, but Glassnode defines a Bitcoin whale as an entity that controls between 1,000 and 5,000 Bitcoin. Whale: A whale is a trader who has the ability to move markets by selling or buying vast numbers of coins. In crypto speak, they are the opposite of cryptocurrencies, which run on blockchains. Fiat currencies are government currencies that aren’t backed by gold but have been declared legal tender.

You might see traders asking Wen Moon? or Wen Lambo? when they vent their impatience about the lack of a meteoric price rise of a cryptocurrency project in which they have invested.įiat: Fiat refers to regular money, like the US or Canadian dollar, or the British pound. Crypto traders might also refer to the Lambo-a price at which one can buy a Lamborghini. Wen Moon: When the price of a cryptocurrency rises, it goes To Da Moon-i.e., very high. It’s a gamble made out of panic after witnessing a steep price rise sometimes it works, sometimes it does not.

Investors who FOMO into projects do so because they are worried about missing out on the next big thing. This crypto acronym is used occasionally in the wider world but almost daily in crypto, a frothy, volatile market that rewards early investors. Everyone who was a victim got rekt.īagholder: someone who holds lots of tokens that depreciate in valueįOMO: Fear of Missing Out. Rekt.news curates a list of the biggest exploits and scams. Perhaps you didn’t DYOR, perhaps you fell victim to a Rugpull or a Pump and Dump Scheme. Rekt: Pronounced “wrecked,” rekt describes what happens if you lose your money to a bad crypto trade. Rugged is invoked to attribute blame to scammy developers. Rugged: Based on the term “rugpull,” “rugged” refers to a decentralized finance project that turned out to be nothing more than an exit scam. A lot of the time, if you deleted this disclaimer, the post would read as financial advice. Similar to DYOR, it’s a disclaimer tagged onto posts that reminds the reader that the writer is not advising you to do something. Commanding investors to DYOR is also a way of shirking responsibility-some NFT sales and ICOs sell out in minutes, making it infeasible to do one’s own research. It’s a way of reminding the investor to vet a project before investing. However, lots of new projects are scams and you should research whatever you plan to invest in before you throw money at it. Lots of blockchain projects pop up all the time, each of them vying for your investment dollars. Like most invocations of crypto trading slang, don’t interpret WAGMI and NGMI as financial advice.ĭYOR: Do Your Own Research. WAGMI is usually pegged to the end of a message that defines some in-group who, usually by investing in a certain project, will soon become wealthy beyond their wildest dreams.

Journalists, critics, and naysayers are usually NGMI, while crypto natives and forward thinkers usually are. The first is a put-down to anyone who isn’t going to become insanely rich from crypto trading. NGMI/WAGMI: Not Going to Make It and We’re All Going To Make It. Amusingly, most crypto Discord servers have a channel entirely devoted to spamming GM-shooting a GM to a chat is a way of checking in to the community. You’ll see GM throughout Telegram price chats-it’s the waking call of the crypto native. You might read tweets that start with GM, or consist entirely of the two letters. GM: GM or gm simply stands for “Good morning,” and it’s the way many crypto traders start their day. To help you get started, we’ve curated a dictionary of some of the more popular words, phrases and acronyms. If you read the missives, screeds, or tweets produced by the tight-knit crypto trading community, you’ll soon realize that they draw on a lexicon of dozens of slang terms and pieces of crypto jargon.Ĭryptocurrency slang phrases like GM (Good morning), WAGMI (We’re All Going to Make It) are repeated incessantly in Telegram groups and Discord chats and in Twitter replies, and they can be confusing to anyone who isn’t familiar with them.

If you want to get into crypto trading, it’s not just the technology that you’ll have to wrap your head around.

Wallstreetbets lingo guide