If you’ve stumbled into the world of blockchain and crypto, you’ve realized there are numerous terms you’ve likely never heard of and you’re not sure what the heck it means, and you may be too afraid to ask.
So Much Crypto Lingo, So Little Time!
We include the most popular definitions you will need to know to navigate your way around the crypto-verse. All in one, simple, and easy to navigate collection.
Cryptocurrency Slang Definitions
Fear Uncertainty and Doubt (FUD)
The term means spreading doubts about a competitor’s product but in crypto-speak, it means spreading fear, uncertainty, and doubt about a specific blockchain project.
Hold On For Dear Life (HODL)
HODL is slang in the crypto community which refers to the strategy of holding onto a cryptocurrency rather than selling it, especially when prices drop.
Moon, Mooning, To The Moon (TTM)
Used to refer to the increase in the price of a coin. If a token is mooning, that means it’s increasing rapidly in price. The moon reflects an investor’s belief or hope that a coin will increase in price.
Schilling is an unsolicited endorsement or promotion of a blockchain project or coin. Commonly used to create hype around a project and increase its value.
Pump, Pump And Dump
Schemes used to artificially inflate the price of a coin and then investors sell quickly to realize the profits.
This is a question about when someone will be rich. The Lambo refers to the crypto bros purchasing Lambos after reaching crypto riches from their investments.
Bitcoin is the first-ever cryptocurrency created on a blockchain. It’s used as a means of payment between two parties. Its creation is attributed to Satoshi Nakomoto, which is the name used by the anonymous person or people who created Bitcoin.
A satoshi is the smallest value of a Bitcoin that’s recorded on the blockchain. It’s equivalent to one hundredth million of a Bitcoin, or 0.00000001 BTC.
Any cryptocurrency other than Bitcoin. The name comes from the fact that all other coins were invented as an alternative to the original Bitcoin.
Cold Storage, Cold Storage Wallet
Cold storage refers to keeping cryptocurrencies offline and not connected online to prevent hacking and cyber attacks. This could take many forms including putting the information on a USB drive, purchasing a hardware wallet or keeping a piece of paper with your information in a safety deposit box.
A fork is a point where a blockchain splits into two separate chains due to new rules built into the blockchain code or the majority of miners of that blockchain wanting to split off into another blockchain.
Initial Coin Offering (ICO)
An initial coin offering or ICO is a way for blockchain projects to raise funds for their company by selling off their own tokens.
Security Token Offering (STO)
Similar to an ICO, except these are securities and the tokens you purchase are backed by something tangible in the real world like physical assets, profits or revenues.
A software wallet is a digital wallet to store cryptocurrencies completely online.