The crypto industry is ever-changing and bustling with information. It comes as no surprise that a lot of memes and slang have emerged with the rise of the crypto sphere. It’s pretty handy to understand the lingo as you go through articles and chat with crypto enthusiasts along the way.

Here’s a list of commonly used phrases and terms that will make you feel right at home in the crypto community. Let’s dive in!

Addy – A Public Key (Address)

An abbreviated name for the public key (address) of a cryptocurrency wallet. You can share your Addy to receive transactions. Though not widely used in everyday life, it is a common term in the crypto space.

Bear Market

A market condition characterised by declining cryptocurrency prices.

Bitcoin Dominance

Refers to the percentage of the total cryptocurrency market cap that is attributed to Bitcoin. Read more about it here.

BTFD – Buy The F*king Dip**

A slang phrase used when traders suggest buying a digital currency that has experienced a drop in value.

Bull Market

A market condition characterised by rising cryptocurrency prices.

Coin Burn

The intentional removal of a specific amount of a cryptocurrency from circulation, it’s often done to increase the value of the remaining coins.

DeFi – Decentralised Finance

An ecosystem of decentralised financial services built on public blockchains. It provides an alternative to traditional financial systems, eliminating intermediaries and government control.

DYOR – Do Your Own Research

A crucial piece of advice for all investors, emphasising the importance of conducting thorough research before making financial decisions, while considering individual capabilities, risk tolerance, and trading style.

FCFS – First Come, First Served

A term used in Initial Coin Offerings (ICOs), where coins are sold to the first buyers at a fixed price until the supply runs out. However, the drawback is that early participants may purchase all the coins, leaving nothing for others.

Fiat

Refers to government-issued currencies like the U.S. dollar or Japanese yen, controlled by a central authority. Bitcoin, in contrast, is a decentralised alternative to traditional fiat currencies.

FOMO – Fear Of Missing Out

A feeling of greed and urgency during a bull run when people rush to buy assets as prices increase rapidly.

FUD – Fear, Uncertainty, and Doubt

Refers to negative information or rumours intentionally spread to create fear and uncertainty in the market. FUD can affect market sentiment and tolerance towards a particular project, entity, or period.

HODL – Hold On For Dear Life

One of the most commonly used terms in the crypto community, it means holding onto a cryptocurrency with the anticipation of its price increasing.

KYC – Know Your Customer

Regulations requiring companies holding ICOs to verify the identity of their investors, often referred to as KYC requirements.

LAMBO

Short for Lamborghini, used to express the idea of getting rich quickly enough to afford such a luxury car.

Margin Bear Position

A trading position that benefits from a decline in the price of an asset.

Margin Bull Position

A trading position that benefits from an increase in the price of an asset.

Moon/Mooning

When a cryptocurrency’s price rises sharply, often used humorously, like saying the coin is “going to the moon!”

Not your keys, not your coins

An essential principle in crypto, emphasising the need for individuals to hold their private keys to ensure the security of their crypto holdings.

Rug Pull

A deceptive practice where the creators of a cryptocurrency project or token abruptly abandon it, leaving investors with worthless assets.

Whales

Individual investors or trading firms with significant amounts of Bitcoin or other cryptocurrencies, capable of influencing prices with their large trades.