“The bulls are back guys. Make sure you buy the dip unless NGMI.”

Sounds strange, right?

Navigating the crypto space can be quite daunting and frustrating when you don’t understand the language used on a day-to-day basis.

As a newbie in the space, I had always felt lost whenever I participated in crypto conversations, not until I took the time to learn what they meant. I know you might feel that way too. That’s why I wrote this article. I wrote this article to explain some crypto terms, mostly the popular ones. That way, you won't feel left out during crypto conversations.

Bullish market/Bulls

This is a term used to refer to the improving condition of the crypto market. It means that the prices of crypto assets are increasing in value.

Bearish market/Bears

This is the opposite of a bullish market. Here, the crypto assets are depreciating. During this period, less trading activity is recorded.

Alpha

This refers to a new insight or knowledge in the crypto space that can make you money when utilized.

LFG

It means Let’s fucking go. It expresses excitement about a new token, project, or community.

DYOR

This is one of the most popular phrases used in the crypto ecosystem and it means “Do your own research”. It tells you to do your research before you buy any asset. In crypto, no one is responsible for your loss or profit. Hence, you are advised to DYOR.

Altcoin

This refers to all cryptocurrencies apart from bitcoin—for example, $ETH (Ethereum),$SOL (Solana), $FTM Fantom. Bitcoin is the first cryptocurrency that was created.

GM

It means Good morning. It’s used to promote positive vibes in a community and can be said at any time of the day.

Gas

It’s a term used for transaction fees paid to a particular blockchain.

Hodl

This is the crypto version of hold. It means to hold a crypto token for a particular period.

Rekt

Rekt is the crypto version of Wrecked. It means to incur a loss either during trading or investment.

Shitcoin

This refers to any cryptocurrency that doesn’t have any value.

Shilling

This is an illicit way of promoting a cryptocurrency to a particular audience.

Airdrop

It's a marketing strategy by crypto projects to distribute free tokens to users for performing certain tasks.

Memecoin

This is a type of shitcoin that’s created based on popular memes or ideas people find interesting.

Whales

These are a set of individuals who hold a large amount of cryptocurrency. Their transactions are also large enough to make an impact on the markets.

Rugpull

It’s a type of crypto scam where a developer creates a project, attracts funding from investors, then abandons the project and runs away with the money.

Dip

It’s described as a fall in the price of a cryptocurrency.

FOMO

It stands for Fear of Missing Out. It’s a stage where one makes irrational decisions because of the fear of missing out on a token that has started pumping.

FUD

It stands for Fear, Uncertainty, and Doubt. It’s a negative feeling spread across the crypto community.

Moon

This is used to describe the continuous increase in the price of a crypto asset.

Ape

This is when a trader buys into a token immediately usually due to the FOMO.

Diamond Hands

Investors who hodl their crypto assets regardless of the current price and what is going about the crypto assets they are hodling are regarded as Diamond hands.

NGMI/WAGMI

It means “Not Going To Make It” and “We are Going to Make It”. This is used to express a negative or positive opinion regarding a particular crypto subject matter.

Pump

This is when a crypto asset increases in price at a very fast rate, which is usually more than normal.

NFA

It means Not Financial Advice. It's a phrase used by crypto traders, and influencers to protect themselves whenever they post about crypto tokens or trades. That means that whatever result you get using the information they shared is on you.

ATH/ATL

This stands for All-time high and All-time low. It is the highest price and lowest price a crypto token has reached.

CEX (Centralized exchange)

It's a platform controlled by a single company where users can buy and sell cryptocurrencies.

DEX (Decentralized Exchange)

It’s a platform where you can buy and sell crypto tokens without middlemen.

KYC

It stands for Know Your Customer. It’s a mandatory procedure you must undergo to register on centralized exchanges.

Degen

This is a person who buys into risky crypto projects without doing enough research. Such a decision is usually based on feelings or market sentiments.

CONCLUSION

Knowing the meanings of certain terms used in the Crypto space is one of the key ways to understand what is going on in the ecosystem. The list above is not comprehensive, but it is designed to give you a headstart. Make sure to always look up the meanings of any new or unfamiliar term you hear during conversations. That way, you will always stay ahead.