These 21 slang terms in the Bitcoin world are the easiest for newcomers to get confused about; FUD and FOMO are the real nightmares for retail investors.

Entering the crypto world on your first day, you’ll be bombarded with all kinds of unfamiliar terms—some say HODL, others shout FUD, and some discuss FOMO. What do these abbreviations and slang actually mean? Why do seasoned crypto veterans handle them with ease while newcomers are left confused? This article compiles the 21 most common slang terms in the Bitcoin community, covering market sentiment and trading mindset, to help you quickly get acquainted with the crypto “dialect.”

The Three Major Killers of Market Sentiment: FUD, FOMO, and Shill

FUD (Fear, Uncertainty, Doubt) is probably the easiest negative emotion to spread in the crypto space. It represents people spreading negative feelings about Bitcoin and cryptocurrencies—possibly exaggerating risks, hyping up a crash, or spreading rumors that a project is about to rug pull. Once FUD is triggered, it can shake market confidence in a short period.

FOMO (Fear of Missing Out) is the opposite of FUD but equally dangerous. When you see others discussing Bitcoin’s price surges or posting gains on social media, that urgent desire to jump in is FOMO. It causes people to chase the high, often ending up as the “last bagholder.”

Shill (constant promotion and hype) is usually driven by personal gain. Shillers have invested in a certain crypto but aren’t satisfied with their returns, so they keep promoting it on social media and forums to attract more buyers and push the price up, then sell at the top. Ultimately, it’s a game of利益 (profit).

These three market emotions often interact—FUD creates panic selling, Shill triggers FOMO to chase the pump, and together they form a trap for investors.

Traders’ Mindset: From HODL to Rekt

HODL (Hold On for Dear Life) is perhaps the most popular slang in crypto. It originated from a funny misspelling—back in 2013, a user meant to type “hold” but accidentally wrote “HODL.” It later evolved into “Hold On for Dear Life,” meaning to hold onto your Bitcoin regardless of price swings.

Diamond Hands and Paper Hands extend the HODL mindset. Diamond Hands refer to investors who can hold firmly even under huge pressure and panic, requiring strong mental resilience. Paper Hands are those who sell too early out of fear, often at a loss.

Rekt (wrecked) describes investors who suffer huge losses due to a sharp price decline. The term comes from “wrecked,” used in gaming to describe being completely destroyed. When someone loses a lot in crypto, they say “I got rekt.”

Bagholder refers to those holding the last bag—people whose crypto holdings have plummeted to near worthless but still cling to hope, like being dragged down by a bag full of trash.

Trading Strategies and Market Operation Terms

Pump and Dump is a favorite tactic of whales and big players. A group uses false or misleading information to hype a coin, causing retail investors to FOMO buy and push the price up. Then the whales sell off their holdings at the peak, causing the price to crash and trapping the late buyers.

Buy the Dip (BTD) is the belief of HODLers. It means buying assets when prices fall, like grabbing discounts during a sale. The logic is that Bitcoin will trend upward long-term, and temporary dips are buying opportunities.

Whale refers to individuals or entities holding large amounts of crypto—usually over 5% of the total supply. Whales’ moves can influence the market significantly; their accumulation, selling, or transfers are closely watched by retail traders.

Market and Outlook Descriptions

Going to the Moon signifies optimism about Bitcoin’s price skyrocketing in the future. Saying “Bitcoin is about to go to the moon” expresses confidence that this investment will bring substantial returns. It’s a phrase full of hope and anticipation.

Bullish and Bearish are terms borrowed from traditional stock markets. Bullish indicates an upward trend and market enthusiasm; bearish signals a downward trend and investor pessimism. Both significantly impact crypto performance.

Vaporware refers to projects that are heavily promoted but never actually materialize or are never completed. These projects are hyped up but eventually fade away.

Crypto Ecosystem and Community Culture Slang

ICO (Initial Coin Offering) is akin to an IPO in traditional finance. Projects release information and background to the public to raise funds for development. Investors receive new tokens, some with utility, others just representing shares.

NFT (Non-Fungible Token) is a unique digital asset with a built-in identification code. NFTs can be digital art, tweets, music, or other digital collectibles.

Sats (Satoshis) are the smallest unit of Bitcoin—1 Satoshi equals 0.00000001 BTC. Many prefer to use Sats for small transactions instead of BTC.

Market Cap is the total value of a cryptocurrency, calculated by multiplying the current price by circulating supply. It’s an important metric to gauge a project’s size.

WAGMI (We’re All Gonna Make It) and NGMI (Not Gonna Make It) are two extremes of community culture. WAGMI boosts morale—everyone will succeed in this wave; NGMI is a sarcastic way to criticize bad decisions, implying the investment will likely fail. These terms are widely used on Twitter and Discord.

No-coiner refers to those who believe Bitcoin will fail or have little future value. Based on this belief, they refuse to hold any crypto.

Cryptosis is a humorous self-deprecating term for the endless craving and pursuit of crypto knowledge. Though it sounds like a disease, it actually reflects community members’ enthusiasm—they keep browsing forums, convincing friends to discuss crypto, and carefully calculating risks during trades.

KYC (Know Your Customer) is a compliance rule most exchanges enforce to verify user identities, protecting traders and adhering to legal standards.

Summary

From market sentiment with FUD and FOMO, to trading mindsets like HODL and Rekt, and community slang like WAGMI and Cryptosis, these 21 terms form the unique “language system” of the Bitcoin world. Mastering these terms will help you quickly integrate into the crypto community and better understand market discussions and trends. But most importantly, don’t be fooled by the psychological traps these terms represent—FUD can make you miss opportunities, FOMO can cause you to buy at the top. Rationality and knowledge are your best shields.