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Top Crypto Slang Terms You Should Know In 2022 Smartphone hacks, Phone, Cell phone

Donnerstag, Februar 13, 2020

IRL. Shorthand for ‘in real life,’ IRL is an acronym commonly used in the web3 space to describe a person, place, thing or event in physical – as opposed to virtual – reality. Cryptocurrency, which is not subject to the authority of any centralized authority, is often positioned as the opposite of fiat money. Not to be confused with the car brand, fiat money is a term used to refer to any kind of currency that has been declared legal tender by a government body. (The declaration itself is often called a fiat.) Fiat money isn’t backed by any intrinsically valuable commodity, such as precious metals like gold and silver.

crypto slang terms

NFAs aim to represent the true value of an airdrop reward when an initial DEX offering takes place. This is achieved through a model that’s not too dissimilar to a futures contract, an agreement to buy or get backed sell assets that will be activated at a future date. The only difference is that the project owner releasing the NFA makes a promise to deliver the token or other digital assets on a future launch date.

Smart Contract

Web three is being built on decentralised technologies such as blockchain and distributed ledger technology. It’s important to be aware of halvings when considering investing in Bitcoin, as it could impact the value of your investment. “Halving” is a term used to describe when the block reward for miners is cut in half. This happens every four years and can have a big impact on the price of Bitcoin. It’s important to be aware of wrapped Bitcoin when considering investing in either Bitcoin or Ethereum, as it could impact the value of your investment.

It refers to a form of lazy investing that is often times more of a gamble and can be the result of FOMO. It is also often used to encourage like minded community members that are also holders to outlast temporary downward trends in order to pay off in the long run. Used in times when a whale sells a large portion of their bag.

  • Melon is a term that refers to bitcoin itself, the digital currency.
  • However, they can also be seen as negative, as they require a lot of energy to run.
  • When you are “diamond handing” something, you are holding on to your investment despite some foreseen turbulence.
  • Oracles are also important because they can provide data and information to smart contracts.
  • Proof of stake is a consensus mechanism for processing transactions and creating new blocks in a blockchain.

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Crypto transactions are public, so you can figure out how much cryptocurrency is in a wallet, even if you don’t know who owns that wallet. A whale may be able to affect a crypto’s price by quickly buying or selling their coins. FUD stands for “fear, uncertainty and doubt” and it something that is “spread” by people that are trying to instill doubt in the minds of investors of a particular coin or stock. The slang term „shill“ describes the strong—sometimes shameless—promotion of a certain crypto coin. There are many reasons why someone would „shill,“ from wanting a currency to increase in value so that the market price increases to being paid for promoting a certain coin or token. A no-coiner is a person who’s against cryptocurrency and believes it’s going to fail.

crypto slang terms

A smol brain or smooth brain is the opposite of a gigabrain and refers to someone considered uneducated or not knowing something that is seen as common knowledge. Instead of „when Lambo?“ you may often see „wen Lambo?“ or „wen moon?“ on Twitter. This is another way of ridiculing people expecting quick and easy profits. Related to this is misspelling „what“ on purpose like in „wat mean?“ It is another way of poking fun of people asking simplistic or „stupid“ questions. Refers to a game-theoretic payout beneficial to both parties. It refers to the prisoner’s dilemma, where both parties are better off cooperating instead of defecting and receiving a (-3,-3) payout.

No Coiner

But a digital twin is more than a mere three-dimensional simulacrum – they’re designed, ideally, to be as dynamic and environment-dependent as the objects they’re imitating. For example, let’s say a team of engineers is making structural improvements to a bridge. They could design a simulation of that bridge, a simple 3D model, which would allow them to make basic measurements and study the overall structure.

crypto slang terms

Both are related to the concept of „making it,“ becoming financially independent or wealthy by investing in cryptocurrencies . Investors that HODL are said to have diamond hands, meaning they are not prepared to sell their holdings for any price. This probably originated during the Gamestop short squeeze in early 2021 when retail traders caused a price surge of a seemingly low-value stock.

Crypto Slang You Need To Know

VR technology, though still in its infancy, has been advancing rapidly. Meta’s Oculus Quest headset is an example of a piece of hardware that can transport the wearer to VR worlds. Meatspace refers to the physical world, ie the tangible counterpart to the virtual world of the metaverse.

Funds are safu

Antonopoulos was shamed when he admitted not HODLing his bitcoin because he needed money to cover his rent and other bills. Jaslyn Ng is a young executive who’s tired of insurance agents & financial advisors in Singapore. She finds it difficult to find one she trusts, leading her to learn more about the various insurance & investment plans available. “Web three-dot-zero” (or “web three-dot-oh”) is a term used to describe the next generation of the internet.

MultiSig is a type of wallet that requires more than one signature to authorise a transaction. Nodes are often run by volunteers and can be located all over the world. They can also be used to distribute tokens to people who are interested in using a particular decentralised application.

Clueless investors looking for quick and easy profits in dubious coins are often referred to as “exit liquidity.” The term can be used in a derogatory or sympathetic way. Sometimes shill accounts are revealed to use their followers as exit liquidity for tokens they promoted. Rugged or a rug pull refers to a method of scamming users in the space by removing funds from a smart contract without their knowledge. A project’s leadership may „pull the rug“ and abscond with all money invested in it. „Rugged“ is nowadays also used to describe unfair or illogical treatment.

Peer-to-Peer (P2P)

It implies that the price is so high, it reaches the surface of the moon. Bitcoiners have even started to use “mooning” instead of “increasing” when referring to Bitcoin prices. Cryptocurrency slang is a collection of phrases used in the Bitcoin community that are not always based on official terms. From tokenexus crypto exchange review HODL to FOMO to FUD, there’s a lot to know before diving into the crypto world. “Double spend” is a term used to describe when someone tries to spend the same cryptocurrency coin twice. This can happen if someone has two different wallets and tries to send the same coin to both wallets at the same time.

Some might require you to complete certain tasks, such as talking about the project on social media, before they send the token to your crypto wallet. Sweep the floor is one of the crypto slang terms commonly used in the NFT space. It refers to someone buying all the NFTs in bulk at their floor price. We can compare it to scalpers who purchase concert tickets right when they’re released and then resell them for a higher price. Our list of popular crypto slang terms wouldn’t be complete without DYOR. It stands for “do your own research” and people in the crypto community use it as advice and a reminder for anyone interested in investing to do their due diligence.

The process of adding transactions to blocks and securing the blockchain. Miners are specialized hardware that race to solve equations and add the next block to the chain. The computer that wins receives the block reward for creating the newly added block. When the creators/promoters who is maxitrade broker – visual inspection and review of a cryptocurrency disappear with investors’ money after an ICO. A website or organization that allows and facilitates the transfer of fiat to cryptocurrency as well as the reverse. Some exchanges allow you to trade your crypto for other cryptocurrencies.

To shill something generally means to promote it, or to represent the projects roadmap, or at a very low level make a case to persuade others to buy in. Some reputable and successful crypto outfits with strong communities run “Shill hours” or set a specific time and goal for community members to aim for. But to get you started, here is a list of common crypto slang words. The asset was created through memes and promoted using the support of other meme assets. „Fear of missing out,“ or FOMO, is a catch-all term for the feelings you might have if you aren’t participating in something that you could have enjoyed or benefited from. It’s sometimes preemptive, and can feel like envy, agitation, or anxiety.

Weak Hands

Since the value of most NFTs is determined by their rarity, one that looks rare and is rare will net you a profit. So you may take to social media and show off your NFT with a „looks rare“ comment in the hope that is true. But learning the „crypto language“ is important because otherwise, you may end up feeling like a guest in a private member’s club. Here is a non-exhaustive glossary of crypto expressions you may or may not know the meaning of. When you do not go out with your friends on Saturday night, you have FOMO or the “fear of missing out”. Or, if you miss out on a hot stock in the stock market, you might have FOMO.

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