Crypto Jargon: From Beginners to OG

To move from crypto beginner to OG, you really need to master the jargons in order to navigate the complexities of the crypto space. Just like most financial instruments, crypto has its own language–especially considering how deeply rooted it is in the digital space.

So, whether you’re just starting out, actively trading crypto assets, or living that full-time degen life, knowing your way around the crypto jargon can definitely help you win in the crypto space.

Beginner Must-Know Terms

For those entering the crypto space, most crypto terms will sound like they’re derived from the depths of the internet. 

But don’t worry we’ll break down these essential terms to help you better navigate your way.

• HODL – Originally a typo for “hold,” it now stands for “Hold On for Dear Life.” It encourages long-term thinking, especially during volatile market swings.
  
• Fiat – Traditional government-issued currency like NZD, USD, or EUR. Crypto is often seen as an alternative to fiat money.
  
• Stablecoins – Cryptocurrencies pegged to a stable asset, like the US dollar. They reduce exposure to volatility and are often used for trading or saving (e.g., USDT, USDC).
  
• Blockchain – A decentralised digital ledger of all transactions across a network. It ensures transparency, security, and immutability.
  
• Crypto Mining – The process of solving complex problems to validate blockchain transactions. Miners are rewarded with new cryptocurrency for their efforts.
  
• Gas Fees – The fees paid to process transactions on networks like Ethereum. Gas prices fluctuate depending on network congestion.
  
• Private Key – A secure string of data that gives you access to your crypto. It must be kept secret—losing it means losing access to your funds permanently.
  
• Cold Wallet – A crypto wallet that is kept offline, making it less vulnerable to hacks. Common forms include hardware wallets and paper wallets.
  
• Hot Wallet – A wallet connected to the internet (like mobile apps or browser extensions). It offers convenience, but it’s more susceptible to attacks.
  
• Slippage – The difference between a trade’s expected price and the price at which it is actually executed. It usually occurs in volatile or low-liquidity markets.
  
• Liquidity – The ease with which a crypto asset can be bought or sold. High liquidity means faster and more stable trades.
  
• Smart Contracts – Self-executing contracts with terms written in code. These are foundational to DeFi and automate processes without needing intermediaries.
  
• DeFi (Decentralised Finance) – Financial services like lending, borrowing, and trading that are run on smart contracts, without traditional banks.

Next time you see these terms on social media, you’ll have an idea of what they mean and hopefully a better understanding of what they refer to.

New to crypto? Read our crypto 101 guide to get started.

Active Trader Terms

Now, with the basics out of the way, we’ll move on to the even more borderline-cryptic jargon. These next set of terms you’ll most likely encounter in the various crypto communities online and social media platforms.

If you’re already trading, swapping tokens, or yield farming, these terms are essential to understand the risks and trends in the market.

• Mooning – When a coin’s price is rapidly increasing or expected to “go to the moon.”
  
• Bag Holder – Someone holding a token that has dropped significantly in value, often refusing to sell in the hope it rebounds.
  
• Whale – A trader or institution with a large amount of a specific cryptocurrency. Their trades can move markets due to their size.
  
• Apeing – Investing impulsively into a coin or NFT project without due diligence, usually driven by hype or FOMO.
  
• Diamond Hands – A term of pride for investors who refuse to sell despite market downturns. It implies long-term conviction.
  
• Shitcoin – A derogatory term for a crypto project with little to no utility, development, or community support.
  
• Yield Farming – Earning passive income by locking up crypto in DeFi protocols in exchange for interest or reward tokens.
  
• Rug Pull – A malicious act where project developers abandon the project and run away with investor funds, leaving tokens worthless.
  
• Staking – Locking up crypto to help secure a blockchain network (like Ethereum) and earn rewards in return.
  
• NFTs (Non-Fungible Tokens) – Unique, verifiable digital assets on the blockchain. Common uses include art, music, gaming items, and collectibles.
  
• 51% Attack – When one party gains over 50% control of a blockchain’s computing power, allowing them to manipulate transactions or double-spend.
  
• Exit Liquidity – Investors who buy into a token right before early holders sell off, essentially “providing liquidity” for their exit.
  
• Multi-Chain Wallets – Wallets that support multiple blockchain networks, allowing users to manage a range of assets from one place.
  
• MPC Wallets (Multi-Party Computation) – A secure type of wallet that splits private key control among several parties, reducing risk.

It’s worth noting that some of these terms and definitions are just the tip of the iceberg. The context in which they are used is just as important in deciphering their references. Be sure to keep an eye out when you come across these terms online!

Degen Terms of Crypto OGs

These are the terms you’ll find in crypto X threads, meme channels, and Discord servers. If you’re here, you’ve probably already been rekt once or twice (we’ve all been there).

• WAGMI – “We’re All Gonna Make It.” A phrase of solidarity and optimism within crypto communities, often during hard times.
  
• Degen – Short for “degenerate.” Refers to someone who takes high-risk positions in low-cap projects or NFTs for potential high returns.
  
• Goxxed – Losing your crypto on a failed exchange (named after the infamous Mt. Gox hack).
  
• Vaporware – A hyped project that never delivers a working product, despite grand promises and marketing.
  
• Dust – Tiny, leftover amounts of crypto in wallets, usually too small to trade. Some blockchains even airdrop “dust” for spam.
  
• Brain Wallet – A type of wallet where the private key is memorised as a passphrase. Extremely risky—if you forget it, your crypto is gone.
  
• Kimchi Premium – The price gap for cryptocurrencies between South Korean exchanges and global ones. Caused by capital controls and demand.
  
• Astroturfing – When a project fakes grassroots support through fake accounts, paid comments, or spammy promotion.
  
• Rektpleb – A blend of “wrecked” and “pleb,” mocking inexperienced traders who lost everything.
  
• Honey Pot – A malicious smart contract that tricks users into depositing funds with no way to withdraw them.
  
• Bagel – Slang for a coin that’s worth absolutely zero. A joke on your “portfolio going to bagels.”
  
• Faketoshi – Anyone falsely claiming to be Satoshi Nakamoto, Bitcoin’s mysterious creator.

As I mentioned, you’ll likely come across these terms deep in degen territory, thrown around buried in online threads. These are the type of terms where it makes little sense without any and/or proper context–which makes them all the more interesting!

Takeaways

Whether you’re just setting up your first wallet or exploring Altcoin gems at 2 in the morning, understanding the language of crypto helps you spot risks, engage with communities and avoid getting rekt. 

Keep this glossary handy as your reference—and remember: in crypto, staying informed is just as important as staying secure! Be sure to stay up to date with the latest by reading our weekly market updates!

This is just the beginning: Learn crypto the easy way.