cryptocurrency terminology and cryptocurrency slangsThe Internet is full of urban slang and lingo which would confuse many people. If you look into any Cryptocurrency forums, Reddit threads, Telegram groups or Slack channels, you’ll see a lot of Cryptocurrency terminology you might not understand at first. Well, don’t let it get on your nerves. We have put together a lot of Cryptocurrency slang that we came across on our journey to give you a boost in the crypto world.

A Glossary of Cryptocurrency Terminology and Slang

We have sorted the Cryptocurrency slang in alphabetical order for your convenience.

  1. 51% Attack: When more than half of the computing power of a network is controlled by a single entity or group, they may issue conflicting transactions to harm the network. So, they can literally do anything with the network.
  2. Agreement Ledger: An agreement ledger is a distributed ledger used by two or more parties to negotiate and reach an agreement.
  3. Alt Coin: Altcoin is a term given to Cryptocurrencies other than Bitcoin. For instance Ethereum, Ripple, Neo coin etc.
  4. Arbitrage: It means taking advantage of a difference in price of the same commodity in two different exchanges.
  5. ATH: It’s an acronym for “All-Time-High”. It’s self-explanatory and it means that a coin broke its previous records.
  6. Attestation Ledger: An Attestation ledger is a form of a distributed ledger that provides an evidence or solid record of agreements, commitments and statements.
  7. Bagholder: It means someone is still holding a cryptocurrency after the value of a coin crashes.
  8. Bearish: An expression for falling value of a coin. For instance, “Bitcoin market was bearish today” signifies Bitcoin had a bad run today.
  9. Blockchain: A blockchain is a shared ledger of a cryptocurrency where transactions are permanently recorded by appending blocks. The blockchain serves as a historical record of all transactions that ever occurred.
  10. Block Reward: It is a form of incentive for the miner who successfully calculated the hash in a block during cryptocurrency mining.
  11. BTFD: It’s a short form for “Buy the Fucking Dip.” It means advising someone to grab a coin whose value presumably hit the rock bottom.
  12. Bullish: An expression for increasing value of a coin. For instance, “Bitcoin market was bullish today” signifies Bitcoin had a good run today.
  13. Cold Storage: A ‘Cold Storage’ is an offline storage to safe keep Cryptocurrency from online hackers. Most common methods are hardware wallets, software wallets that are cut off from the network.
  14. Cryptographic Hash Function: Cryptographic hashes are encrypted, fixed-size hash values used for Cryptocurrency transactions.
  15. DAO: It’s an acronym for ‘Decentralized Autonomous Organizations.’ These organisations run without human intervention on transparent business rules.
  16. Dapp: It’s called ‘Decentralized application’ that runs on an open source blockchain like Ethereum blockchain.
  17. DYOR: You might have seen this a lot. It means “Do Your Own Research.” It’s a term often used to advise traders to do their own research before investing in something.
  18. Exchange: A website or service where you can buy or sell Cryptocurrencies using bank or credit card.
  19. FIAT: FIAT currencies are government issued currency like USD, Euro etc…
  20. Fill or Kill: A limit order that will not process unless an opposite order exceeds this limit order’s amount.
  21. FOMO: It’s a short form of Fear Of Missing Out. It means the fear of being left alone on the profit from an investment. People use this when they see some coin skyrocket and they don’t have it.
  22. Fork: Forks create an alternate version of the blockchain. This means two blockchains run simultaneously on different parts of the network.
  23. FUD: It’s the short form of “Fear, Uncertainty and Doubt’. Used when someone is uncertain of the potential of something or if someone spreads rumours for personal gain.
  24. Gas: It is a measurement of how much processing is required by the ethereum network to process a transaction. You can see this term in smart contracts and token sales.
  25. Hard Fork: It renders previously invalid transactions valid, and vice versa. Hard fork requires all nodes and users to upgrade to the latest version of the protocol software.
  26. Hash: Performing a cryptographic hash function on the output data.
  27. Hash Rate: It means hashes per second. It’s an expression to measure the performance of mining rig.
  28. HODLIt means HOLD and usually called “Hold On for Dear Life”
  29. ICO: It is an acronym for Initial Coin OfferingIt’s a crypto term for crowdfunding programmes.
  30. Mining: Cryptocurrency mining is a way to validate blockchain transactions. The miners get coins as an incentive for validating transactions. It requires a good hardware to perform complex hashes.
  31. Mining Rig: Computers specifically designed for mining cryptocurrencies like Ethereum and Bitcoin. They usually have powerful GPUs in an array to increase computing power.
  32. Node: A copy of the ledger operated by a participant on the blockchain network.
  33. Peer to Peer: Peer to Peer (P2P) refers to the decentralized transaction between two or more parties without the need of middlemen.
  34. Public Address: A public address is the cryptographic hash of a public key. It can be shared with others for transactions.
  35. Private Key: A private key is a cryptographic hash to store coins in a wallet. It acts as passwords to keep your coins secure. Never share it with anyone.
  36. Proof of Stake: A consensus distribution algorithm that rewards earnings based on the number of coins you own or hold. This means the more you invest in the coin, the more you gain by mining it.
  37. Proof of Work: A consensus distribution algorithm that requires an active role in mining data blocks. This usually means that the user with more computational more is rewarded more.
  38. Pump and Dump: One more popular term. You might often see a huge spike in a coin’s value followed by a drop. Usually done by big investors to induce FOMO in novice investors and then dump the coins after gaining huge returns.
  39. REKT: A twisted word for “wrecked”. It means someone lost a huge investment in some coin.
  40. ROI: Acronym for “Return on Investment.” It shows the percentage money has been made compared to an initial investment. So, 100% ROI means double the money.
  41. SHA-256: It is a cryptographic algorithm popular in the crypto world.
  42. Smart ContractsSmart contracts are trustless peer-to-peer contracts to automatically validate certain terms and conditions.
  43. Soft Fork: In a soft fork, only previously valid transactions are made invalid. Since old nodes recognize the new blocks as valid, a soft fork is essentially backwards-compatible. A soft fork requires miners to upgrade in order to enforce.
  44. Solidity: It is one of the most popular languages that smart contracts can be written in.
  45. Tokens: Tokens are generated by ICOs to exchange with the cryptocurrency in the ICO sales.
  46. To the Moon: Indicates that a coin’s price is skyrocketing and in a figurative tone “To the Moon!!!”
  47. Wallet: A physical or software wallet to store tokens and cryptocurrency.
  48. Whale: Popular term borrowed from Wall Street. Whales are huge players who make huge investments and control markets.

Hopefully, we have covered most of the popular cryptocurrency slang. Let us know of any other cryptocurrency terminology that we can add to this article.