70 words every crypto and NFT trader should know

The world of crypto and NFT can be intimidating as there are a lot of words, phrases, jargon, and concepts to know.

So, if you’re planning to trade cryptocurrencies or NFTs, there are things and terms you need to understand before plunging into the volatile world of the crypto market. But don’t worry, we’re here to help you out.

Here is a comprehensive list of terms, phrases, and slang that will take you a step closer to becoming a crypto conversant. Expand your crypto and NFT vocabulary with the words listed below.

1. Airdrop
   A marketing strategy that uses giveaways, such as coins and tokens, to promote a new or upcoming cryptocurrency.
2. All-Time High (ATH)
   The highest price ever reached by a cryptocurrency.
3. All-Time Low (ATL)
   The lowest price ever reached by a cryptocurrency.
4. Alt Coins
   This is the collective term for every cryptocurrency in existence that is not named Bitcoin (BTC).
5. Ape or Apeing
   A crypto trader buys a new token as soon as it launches without prior and careful research about the new crypto project. 
6. Arbitrage
   The act of buying an asset from one exchange where it’s cheaper and selling it to another exchange where the price is higher.
7. Bitcoin
   The first, largest, and most popular cryptocurrency in the world. It was created by the mysterious Satoshi Nakamoto and introduced a decentralized ledger called a blockchain.
8. Bitcoin Maximalist
   People or groups of people who believe that Bitcoin (BTC) is the only valuable cryptocurrency that will be needed in the future, as it is the only one in line with the original ideals of cryptocurrency created by Satoshi Nakamoto.
9. Bagholder
   This term is used for people holding on to a cryptocurrency that has plunged significantly in price – even if their holdings became worthless or went to zero.  
10. Bear Market
    This stock market term is also used in crypto to indicate that the market is going down. Bearish investors assume that prices will go down or continue to go down.
11. Blockchain
    It is a type of digital database or ledger that uses peer-to-peer networking shared among its users. The blockchain is the underlying technology behind Bitcoin and other cryptocurrencies.
12. Bull Market
    This is the opposite of a bear market, indicating that the market is going up. Bullish investors assume prices will go up or continue to increase.
13. Buy the (f*cking) dip (BTD or BTFD)
    This is a trading strategy for buying any crypto asset when the price falls, hoping to gain profit once the price starts rising again. 
14. Cryptocurrency
    A decentralized digital asset or alternative money can be used to buy and sell goods and services. Bitcoin (BTC) and Ethereum (ETH) are popular cryptocurrency examples.
15. Cryptocurrency Bubble
    An event when the prices of the crypto market go beyond its hypothetical value. The short history of the crypto market has been marked by several bubbles and crashes.
16. Cryptojacking
    An illegal use of other people’s computing power, such as computers and smartphones, to mine cryptocurrency.
17. Crypto Bro
    It is a derogatory term for someone (usually a male) who is over-enthusiastic, highly opinionated about cryptocurrency, and can be condescending or dogmatic.
18. Crypto Winter
    A period in the cryptocurrency cycle when the prices are performing poorly, and the market sentiments are weak to attract other investors. This is similar to the bear market in the stock market.
19. CT or Crypto Twitter
    It is a niche community of crypto enthusiasts utilizing Twitter (now X) to communicate about crypto and NFT. 
20. DeFi
    Shorthand for Decentralized Finance and is developed using blockchain technology. It involves creating a decentralized version of traditional finance (TradFi) unregulated by a central governing authority. DeFi includes banking, lending, payment processing, and more.
21. Degen
    This is short for “degenerate” and describes people who invest or trade in risky coins and projects, even without prior research.
22. Diamond Hands
    This is a term used to describe crypto traders with a high-risk appetite. Regardless of the price fluctuation, they will not sell and are willing to hold on to their coins or tokens until the end – whether good or bad. 
23. Do Your Own Research (DYOR)
    This is general advice to investors to anyone planning to invest in cryptocurrencies to do their research first before placing their money in any coins or projects.
24. Dump or Dumping
    The abrupt selling of a significant amount of crypto or NFT, usually by a whale, that can drag the prices even lower.
25. Fiat Money
    It is the currency issued or printed by the government, often not backed by a commodity like gold. Some examples of fiat money are the US Dollars (USD) and the Philippine Peso (PHP).
26. Flippening
    A term used to describe the hypothetical moment when the value of Ethereum (ETH) overtakes the value of Bitcoin (BTC) to become the biggest cryptocurrency in the world. 
27. Flappening
    A term used to describe the hypothecal moment when the value of Litecoin (LTC) overtakes the value of Bitcoin Cash (BCH)
28. Fear of Missing Out (FOMO)
    Like everyday life, FOMO happens in the cryptocurrency market when people start buying an already high-priced coin or token in fear of missing out on the opportunity to earn.
29. FML
    This stands for “F*ck My Life,” commonly used to express misery and despair in the crypto market. 
30. FUD
    This refers to fear, uncertainty, and doubt when people (especially outside the crypto space) spread negative sentiments or false information about the crypto market that can cause HODLers to feel and have negative perceptions about their crypto holdings. 
31. GM.
    This abbreviation for “good morning” is commonly used as the first greeting for the day among the crypto and NFT community to promote positivity and build solidarity.
32. GN
    Similar to GM, this is a common greeting in the crypto and NFT space, which means “good night” and signifies that the user is logging off. 
33. Going Long
    A trading strategy of buying a cryptocurrency, hoping it will increase in value over time.
34. Going Short
    A trading strategy of selling a cryptocurrency with the purpose of buying it later. 
35. HODL or Hold On For Dear Life
    It started as a misspelling of “hold” but eventually became a rallying cry of the crypto market to not sell their coins, regardless of the market’s ups and downs.
36. IYKYK.
    It is short for If You Know, You Know. It implies that some people know information not available to the general public and will only make sense to a small group of people. 
37. Initial Coin Offering (ICO)
    The term used by the cryptocurrency industry to raise funds to create new coins or services. This is similar to the stock market’s initial public offering (IPO).
38. KYC
    Short for “Know Your Customers,” which is a required identification and verification of new clients when opening an account, usually by uploading a government-issued ID, like a passport or driver’s license.
39. LFG
    This stands for “Let’s F*cking Go,” which is a common expression in the crypto space that indicates excitement and enthusiasm for a crypto project.
40. Leverage
    It is a loan or borrowed capital to increase a crypto trader’s buying power. For instance, if you only have a $1,000 initial investment and want to use 10x leverage, you’re essentially increasing your trading capital to $10,000. However, there is also a liquidation risk if the prices go the other way – a double-edged sword.
41. Market Capitalization or Market Cap
    This is the total market value of a cryptocurrency, calculated by multiplying the total number of coins or tokens in circulation by its current market price.
42. Meme Coins
    These cryptocurrencies are inspired by popular Internet memes and have little to no use case and are using their humor and familiarity to attract young crypto enthusiasts into investing. Some of the most popular meme coins are Dogecoin (DOGE) and Shiba Inu (SHIB).
43. Mint
    It is the act of making an artwork available on a blockchain as an NFT.
44. Mooning or Going To the Moon
    San ka punta to the moon! But for cryptocurrency, this term refers to when a coin suddenly spikes in price as if it will not stop going up and up – like a rocket “going to the moon.” Similarly, “Wen Moon” is a term used to ask when a crypto’s price will shoot up.
45. NAGMI
    This means “Not Gonna Make It” and is the opposite of WAGMI. It implies negativity, failure, or frustration about their future in crypto or NFT.
46. NFA
    Also means “Not Financial Advice.” This is a common disclaimer by influencers and writers in the crypto space to indicate that they are not liable for any negative outcomes of people’s trading decisions based on their opinions.
47. NFT
    It means non-fungible tokens. These assets are converted into digital tokens with a unique identification code that can’t be replicated. Some common examples of NFTs are digital artworks, in-game items, and other digital collectibles.
48. No-Coiner
    A no-coiner is someone who doesn’t believe in the utility or value of cryptocurrencies, so they don’t have any coins themselves.
49. Normie
    This slang refers to newbies or people who don’t know or are inexperienced in the cryptocurrency markets. They may still think in the traditional mindset and avoid the crypto market.
50. P2E or Play-to-Earn
    These are games that allow players to earn real money by playing and getting rewarded with cryptocurrency and NFTs that they can sell. One of the most popular P2E games in the Philippines was Axie Infinity.
51. Paper Hands
    Opposite of diamond hands. Crypto traders with paper hands have a low-risk appetite. They will immediately sell their coins or tokens at the first sign of trouble.
52. PFP
    This means Picture-for-Profile NFTs that can be used on social media as a profile picture, usually in X (formerly Twitter). One of the most popular PFP NFTs are the Bored Ape Yacht Club and CryptoPunks.
53. Pump and Dump
    These are crypto scams where defrauders will buy huge stakes of coins or tokens to increase their prices and temporarily hold them. They will then hype it to create demand for new buyers (hence, pumping) before selling everything they own (thus, dumping) for profit, leaving the rest of the late buyers to suffer losses.
54. REKT
    The term is a misspelling of “wrecked,” indicating someone who suffered heavy losses in their trading position, whether due to poor trading decisions or normal market volatility. 
55. Resistance
    A technical analysis (TA) indicator that shows a price level that will prevent the value of assets from flying higher. This is also a psychological level where sellers come in.
56. Rug Pull
    This is a common crypto scam where deceptive developers lure investors into investing in a new crypto project development that seems legit but will soon disappear or abandon the project along with the raised funds, leaving investors with worthless assets.
57. SAFU
    Also known as “Secure Asset Fund for Users”. This is a type of emergency fund that aims to protect users. It was created by the cryptocurrency exchange Binance.
58. Satoshi or Sats
    A term derived from Bitcoin’s mysterious founder, Satoshi Nakamoto. It is the smallest fraction of Bitcoin that can be traded, which is 0.00000001 BTC. 
59. Scamcoins
    As the name suggests, it is a fake cryptocurrency whose primary aim is to steal money from unsuspecting investors.
60. Shill or Shilling
    It is a term for a person or group of people who promote a cryptocurrency by hyping it, usually for their own benefit. 
61. Sh*t Coins
    As the name suggests, it is a highly speculative cryptocurrency offering no value or purpose. It is also often used in crypto scams.
62. Support.
    A technical analysis (TA) indicator that shows a price level that will prevent the value of an asset from falling deeper. This is also a psychological level where buyers come in.
63. Sweeping the Floor
    It means buying an NFT at floor (bottom) prices, especially for promising projects.
64. Stablecoins
    These cryptocurrencies have a value tied up to another asset class, making them less volatile and, hence, ‘stable.’ For instance, Tether (USDT) is a stablecoin tied to the US Dollar (USD) value.
65. Technical Analysis (TA)
    TA is a trading and investing method that uses chart patterns and other technical indicators to create a more informed decision in trading and investing. 
66. TradFi
    Also known as Traditional Finance, which involves the conventional way of handling money through banks, insurance companies, and the stock market.
67. Volatility.
    This is a statistical measure of how much an asset’s price moves up or down over time. The more volatile an asset is, the more riskier it is. Cryptocurrency is a very volatile asset. 
68. WAGMI or GMI
    An abbreviation of “We’re All Gonna Make It/ Gonna Make It”. It is a slang used to share optimism about the future of crypto and NFT.
69. Wen Lambo
    Wen is an intentional misspelling of “when.” It is a phrase used to ask when a crypto holder will finally become rich enough to afford a Lamborghini – a status symbol in the crypto space.
70. Whale
    These are people or institutions that own a large stake in cryptocurrency and can influence the prices by buying or selling.