Although the Bitcoin was around from 2009, the real bull run happened in 2017. Many people are rushing to buy bitcoin after a huge media coverage these days. Along with Bitcoin, other cryptocurrencies also gained popularity. This means that a lot of new people have started their crypto journey recently and are new to the cryptocurrency terminology. Have you come across the most popular crypto word “HODL” in any of the Slack groups, Telegram channels or Reddit? You might think, what is HODL in cryptocurrency terminology? Is it an Internet slang or an acronym?
One of the most important thing in money business like Cryptocurrency is to stay updated with the market. You can do this by following Reddit threads, Telegram channels, Slack groups and other Crypto communities you’re familiar with. When I started, I followed some of the active Reddit threads and Telegram groups to get some crypto knowledge. But soon I started to see some terms I’m not familiar with and I thought most of them were typos. However, I started seeing the term “HODL” repeatedly in many forums which made me curious.
Finally, I came to know the cryptocurrency slangs through other Bitcoiners and from my intelligent buddy Google. In this article, I will share some of the popular cryptocurrency jargons you should know.
What is HODL in Cryptocurrency Terminology?
For those of you who think it’s probably a typo, auto-correct mistake or HODOR went crazy, No!!! HODL is a pretty conscious term in the crypto world and it actually means “HOLD” but in a humorous way. Going into the history of HODL, reportedly, it first appeared on the Bitcoin talk forum in 2013 by the user GameKyuubi under the thread “I AM HODLING”.
He might be drunk at the time of posting this but he soon became a legend for inventing a new Internet meme. Making things much humorous, HODL is being circulated as “Hold On for Dear Life”. Currently, “HODL” has become an Internet slogan amidst the Bitcoin market uncertainties.
More Cryptocurrency Slangs
If you’re interested, below are some more cryptocurrency slangs you might need to know:
- 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.
- ATH: It’s “All-Time High“self-explanatory. People use this when some coin broke all of its previous records.
- 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.
- Whale: Popular term borrowed from Wall Street. Whales are huge players who make huge investments and control markets.
- 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.
- Bag Holder: Person who bought a coin at a high price and missed his opportunity to sell it, ultimately rendering them useless.
- REKT: A twisted word for “wrecked”. It means someone lost a huge investment in some coin.
- ICO: It is an acronym for Initial Coin Offering. It’s a crypto term for crowdfunding programmes.
- To the Moon: Indicates that a coin’s price is skyrocketing and in a figurative tone “To the Moon!!!”
- Fill or Kill: A limit order that will not process unless an opposite order exceeds this limit order’s amount.
So, crypto ain’t stranger now, right? Share some of the crazy things you came across in crypto world in the comments section.