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TOP NFT/CRYPTO SLANGS TO KNOW IN 2023. | by Grace Uche-Odii Ezinne

Image from Udonis

“My brother was a bagholder. The market became bearish, but he did not HODL and got himself Rekt.”

Seeing a text like this as a newbie in crypto only breeds confusion. There is a vast sea of slang and terms used in the crypto space, and to understand the tweets sent, or the discord and telegram group messages, you must wrap your head around each of them.

This blog post will help you know some popular terms, slang, and jargon used in crypto.

It stands for “Do your Own Research”. The crypto community uses this slang as a piece of advice. It serves as a reminder to perform proper research before investing in any crypto project.

Short for “Fear of Missing Out. It refers to a sense of urgency to buy a coin/ token when everyone is talking about it because you are scared you will lose out on the profits. This fear can drive individuals to act impulsively and make investment decisions based on emotions, rather than logic and reasoning.

Altcoin is a combination of the two words “alternative” and “coin.” The slang describes cryptocurrencies/tokens that are not Bitcoin.

It is the Crypto slang for wrecked, rekt is what happens when a trader experiences financial loss due to a bad trade analysis or investment.

This is one of the most popular crypto slang. It means holding your Bitcoin or other coins despite the price volatility. The slang originated as a typo error from a user. It was then changed to “Hold on for Dear Life”

This means acquiring a coin/asset after the price has dropped with the hopes it will rise again in the future. The idea behind BTD is that the price will eventually bounce back and more than likely increase in value.

An Ape is an NFT slang that refers to someone who buys an NFT or a token immediately after its release without conducting proper research first, it is also called apeing.

Mints are new Nft tokens created. Minting is the process of creating new NFT coins/tokens.

A whale refers to someone owning a significant amount of a certain cryptocurrency. Whales have enough funds to manipulate the market. Due to the large size of their orders, a whale’s transactions may create a temporary hike in price volatility, especially in assets with low liquidity.

A bagholder holds on to their coins/investments instead of selling them even though it is losing their market value.

The crypto stock market uses bearish slang to describe a market whose prices are expected to decline. Usually, a lot of people would want to sell off their coins during the bearish season but some people prefer HODL.

Bullish, is the complete opposite of bearish. It is used a describe a market whose prices are skyrocketing.

This NFT slang is used when the floor price of an NFT project is rising because it was bought fast.

DAO refers to Decentralised Autonomous Organizations. It is a blockchain/Web3 community that is run and operated autonomously by its members without any central authority. The members have the power to decide what happens in the community. This power is gotten by purchasing the community token.

Airdrops are ways the crypto market campaigns use to distribute cryptocurrencies to a large audience simultaneously. New coins/tokens are largely distributed this way.

This slang is used when cryptocurrencies develop an upward market trend. When a cryptocurrency is mooning, it means its price is soaring.

People who are overly excited about a coin’s prospective increase are called moonbois/moon boys.

Both terms are used in cryptocurrency but are more prominent in the NFT space — especially in Twitter and Discord groups.

WAGMI is short for We’re all gonna make it. It is used in the crypto community to build confidence and encourage everyone not to lose hope.

NGMI, on the other hand, is short for not gonna make it. It refers to the sentiment that you made a bad decision and your investment will not be successful.

I hope this post helped you understand the crypto world and slangs better. Please like and share! If you have any questions, feel free to leave them in the comment section.

I publish blog posts with the latest crypto, blockchain, and web3 information and How-to-guides.

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