If you're a true crypto nerd, you know all about the different crypto slang terms. From "FOMO" to "Pump and Dump," these terms are essential in becoming part of the cryptocurrency world. But if you're new to the community, you’re probably searching “what does wagmi mean!?”
So, this guide will help you learn the most important crypto slang terms out there. Read on to become a true crypto nerd!
1. What does FOMO mean?
Fear Of Missing Out. This acronym is used to describe the feeling of anxiety that comes from thinking that you might miss out on a good opportunity.
In the context of crypto, FOMO often leads investors to make hasty decisions about buying or selling tokens.
2. What does GM mean?
So, what does GM mean in crypto? Good morning! It's a simple phrase, but it's one that brings people together from all corners of the globe. In the crypto world, saying "GM" breaks cultural boundaries and builds a sense of community through a mutually-understood greeting.
Those two little letters remind us that we're all working towards the same goal, no matter what time zone we're in or what language we speak.
Twitter is often abuzz with GM greetings in the morning, and it's always nice to see the replies come flooding in from all over the world.
So if you see someone from the crypto community online, take a moment to say "GM." It might just land you a new friend!
3. What does GN mean?
Similarly, when community members take a break or sign off for the night, they will say "GN." This stands for "Good Night." This friendly greeting is one way crypto enthusiasts stay connected and build relationships
If you're just getting started in the world of cryptocurrencies or you've been involved for years, take a moment to wish your fellow community members a GM or GN. It's a small gesture that can go a long way in creating a sense of camaraderie and belonging.
4. What does CT mean?
CT meaning in crypto is Crypto Twitter. For those who have not been on Twitter for a long time, Crypto Twitter (CT) has evolved into a huge information pool for the crypto community. The latest drops and breaking news are made available on Twitter first, making it an essential tool for those looking to stay up-to-date on the latest developments in cryptocurrencies and their community.
In addition to providing timely information, CT also serves as a valuable networking opportunity, connecting like-minded individuals worldwide.
Whether you're a seasoned crypto investor or just getting started, following CT is a great way to stay informed and connected to the ever-growing world of cryptocurrencies.
5. What does Mooning mean?
Mooning describes the situation when a cryptocurrency's price spikes sharply upwards. This term is often used as "to the moon," which refers to the idea that prices will continue to rise to astronomical levels.
6. What does GMI / WAGMI mean?
GMI or WAGMI meaning is "Gonna Make It" / "We All Gonna Make It." It shows a high conviction and optimistic state about the future. For example, you might hear someone exclaim, "Just bought a punk, GMI!"
The term can also broadly express optimism about the future, such as "Things are looking tough right now, but I'm GMI."
In this way, it functions as a motivational slogan, encouraging people to maintain hope in difficult times. Whether you're referring to stocks or life in general, remember that GMI meaning in crypto is that you believe in a bright future.
7. What does Whales mean?
Big investors who hold large amounts of cryptocurrency are titled Whale by the community. These individuals wield much power in the crypto markets, as their trades can cause prices to rise or fall significantly.
8. What does NGMI mean?
In short, NGMI means "Not Gonna Make It." It is typically used when disagreeing with a certain action or as a sign of regret over a bad decision.
For example, someone might say, "Just sold my punk for 1 Dogecoin, NGMI," if they believe they made a poor choice in selling their cryptocurrency for such a low price.
NGMI can also express disagreement, such as "I'm NGMI with this company's customer service."
You can also use the term to make a funny comment or point out a problem. NGMI will surely add some color to your conversations.
9. What does dApp mean?
dApp is a decentralized application built on top of a blockchain network. These applications are often open-source and allow anyone to contribute to their development. Professionals mostly use this term, but members of the community understand what it means.
10. What does HODL mean?
Hold On for Dear Life. This term originated in a 2013 Bitcoin forum post where someone mistakenly typed "hold" instead of "hold on."
The misspelling caught on. Now, "hodl" is used to describe the act of holding onto your crypto investments for the long term.
11. What does Altcoin mean?
Altcoin is used to describe any cryptocurrency that isn't Bitcoin. The term "altcoin" may be used for thousands of different cryptocurrencies in the market today.
12. What does Probably Nothing mean?
In cryptocurrency, the phrase "probably nothing" often suggests that there is more going on than meets the eye.
For instance, if someone says, "Visa just bought a punk. Probably nothing," they hint that there is a good chance that Visa has purchased a cryptocurrency company - even though this has not been officially confirmed.
Using "probably nothing" is a way to be polite while suggesting that something is going on, and it often leads to lively discussion and debate.
13. What does Ape mean?
"Ape" is a term used to describe taking a large position in an asset relative to one's portfolio size. So, if someone says they "aped into Solana," it means, a person put a large amount of money into Solana compared to the rest of their holdings.
14. What does FUD mean?
Fear, Uncertainty, and Doubt. This acronym describes the negative sentiment that spreads like wildfire in the crypto community. FUD can cause investors to sell their holdings out of fear, leading to price drops.
15. What does Pump and Dump mean?
This happens when a group of investors artificially inflates the price of a token by buying it in large quantities, then "dumps" it on the market once prices have risen, pocketing the profits.
This type of behavior is considered to be manipulative and is often frowned upon by the crypto community.
16. What does Shill mean?
What does shill mean in NFT? Well, Shill is a person that promotes cryptocypto and NFTs in different communities with an ulterior motive. The individual may “shill a currency to normies” (normal people) because they have a large investment.
17. What does Non-fungible token (NFT) mean?
A non-fungible token is a digital asset that is not interchangeable with other assets of the same type. Each NFT is unique and can be used to represent ownership of digital or physical assets. PFPs (Profile Picture NFTs) have become one of the most in-demand NFTs.
18. What does Decentralization mean?
Decentralization refers to power distribution or decision-making away from a central authority. In cryptocurrency, decentralization often refers to the distributed ledger technology that underpins most cryptocurrencies. This allows peer-to-peer (P2P) transactions without needing a central intermediary.
19. What does DEX mean?
A decentralized exchange (DEX) is a cryptocurrency exchange that takes place without the need of a central authority to match orders or hold funds. DEXes are often built on decentralized protocols, such as 0x or Ethereum, and use smart contracts to execute trades.
19. What does Double Spend mean?
Double spend is a potential flaw in a digital currency system that allows the same digital token to be spent twice. This can occur when an individual creates two separate transactions using the same digital token and sends them to different addresses.
20. What does FIAT mean?
FIAT is a government-issued currency that is not backed by a physical commodity, such as gold or silver. Its value is derived from the faith and credit of the issuing government. In cryptocurrency, "fiat" typically refers to government-issued currencies such as the US dollar or Euro.
21. What does GAS mean?
GAS is the native cryptocurrency of the NEO blockchain. It's used to pay transaction fees on the network. When you make a transaction on NEO, you have to pay a small amount of GAS to cover the cost of running that transaction.
22. What does Exit Scam mean?
An exit scam is when a project suddenly shuts down and disappears, taking all the money raised with it. This is often done by fraudulent ICOs that simply vanish after raising money from investors.
23. What does Flippening mean?
The Flippening is the event where Ethereum becomes more valuable than Bitcoin. This could happen if Ethereum is used more than Bitcoin or if the price of Ethereum rises faster than the price of Bitcoin.
24. What does Diamond Hands mean?
This term describes investors who hold onto their cryptocurrency investments even when the market crashes. Diamond Hands is a show of faith in the long-term success of the asset.
25. What does Cryptojacking mean?
Cryptojacking occurs when your computer is used to mine cryptocurrency without your consent. This can happen if you visit a website with embedded mining code or if you have malware on your computer that is secretly mining for the hacker. Cryptojacking can reduce your device’s speed and hike up your electricity bill, so it's important to be aware of it.
26. What does Cryptography mean?
This is the practice of secure communication in the presence of third parties. Cryptography is used in various applications, including email, file sharing, and online banking.
27. What does Cyptosis mean?
Cyptosis is a condition characterized by an individual's inability to remember their own cryptographic keys. Cyptosis occurs when you forget to back up your wallet or when you lose access to your private keys.
28. What does BTD mean?
BTD is short for "Buy the Dip." This term is used to describe the act of buying a currency when it is experiencing a temporary price drop.
29. What does Bag Holder mean?
This term is used to describe someone who holds a large amount of a cryptocurrency that has lost value. For example, if you bought Bitcoin at $19,000 and it dropped to $3,000, you would be considered a bag holder.
30. What does Bitcoin Maximalist mean?
A Bitcoin Maximalist believes that Bitcoin is the only true cryptocurrency and that all other altcoins are worthless.
31. What does No Coiners mean?
A no-coiner doesn't believe in cryptocurrencies or the technology behind them. They often dismiss the entire industry and may not even understand how cryptocurrencies work.
32. What does Normies mean?
Normies are people who are not involved in the cryptocurrency world. They may be interested in Bitcoin or other digital assets, but they don't comprehensively understand the technology or the ecosystem. Normies are also referred to as Noobs or Newbies, as they are new to the community and lack the experience of crypto experts.
33. What does Lambo mean?
This term is derived from the luxury car brand Lamborghini. In the cryptosphere, "Lambo" is shorthand for when someone makes a lot of money from their investments and can afford to buy an expensive car like a Lamborghini.
34. What does Addy mean?
An addy is simply a cryptocurrency wallet address. It usually consists of a long string of numbers and letters.
35. What does Airdrop mean?
An airdrop is when a blockchain project or company distributes free tokens or coins to the community. This is usually done to promote their project and increase awareness.
36. What does Bear and Bull Markets mean?
A bear market is when the price of an asset (like crypto) declines. When you hear someone say, "the market is bearish," they're saying that they think prices will continue to fall. The opposite of a bear market is a bull market, where prices rise.
37. What does Pleb mean?
Pleb refers to an individual stacking SAT (satoshis), the smallest unit of Bitcoin.
38. What does JEET mean?
JEET describes a person who sells anything and everything in the crypto community.
39. What does Degen mean?
The term degen is extracted from the word ‘degenerate.’ In the crypto community, a degen is someone who confidently believes in the success of crypto projects without giving much regard to their consequences. These individuals continue to purchase the currency, hoping to double the value of their assets.
40. What does Rekt mean?
Rekt is derived from the English word ‘wrecked.” The term refers to an individual who suffers an extreme loss from a bad trade or investment and, therefore, is wrecked financially.
41. What does Gas mean?
Gas is a transaction fee for using blockchain services. The amount is submitted to network validators or crypto miners, who validate the transaction blocks on the blockchain network.
42. What does Vault mean?
In the crypto world, vaults are storage spaces for crypto assets that provide a heightened level of security. The vaults increase the safety of your asset by ensuring withdrawal delays and approval procedures. This equips users with the ease of canceling their transaction during the lengthy delay and approval period.
43. What does Staking mean?
Staking occurs when individuals lock their crypto assets for a specific period of time as a way to support blockchain operations. Staking the crypto allows these individuals to acquire more cryptocurrency.
44. What does Nonce mean?
In crypto, nonce means a random or semi-random number that is generated for a specific use. It is related to cryptographic communication and information technology (IT). The term stands for "number used once" or "number once" and is commonly referred to as a cryptographic nonce.
Typically, a nonce is a value that varies with time to verify that specific values are not reused. A nonce can be a timestamp, a visit counter on a webpage or a special marker intended to limit or prevent the unauthorized replay or reproduction of a file.
The "Metaverse" within the context of web3 and crypto refers to a shared, immersive digital universe where participants interact through avatars and real-time technology. It merges virtual reality, augmented reality, blockchain, and decentralized technologies, offering a persistent, user-driven environment. In the Metaverse, users can socialize, work, create content, own digital assets, and even conduct economic transactions. Blockchain technology is fundamental for securing property rights and enabling the ownership and trade of digital assets within this expansive digital realm. As web3 and crypto continue to evolve, the Metaverse represents a vision of a decentralized, interconnected, and user-centric digital reality.
Wrapping Up
So there you have it, our comprehensive guide to crypto slang. Now that you know the gm meaning in slang, along with all the other phrases, you can move forward and impress your crypto friends (or frenemies) with your knowledge of the crypto web vernacular.
