Crypto Slang Dictionary: HODL, Apeing & Degen Speak

Crypto has developed a language of its own. Spend a few minutes on Crypto Twitter, Discord, or Telegram, and you'll see people talking about apeing into shitcoins, getting rugged, or insisting they're still going to make it despite being rekt.

If you're new to crypto, it can feel like everyone is speaking a different language. The good news is that most of these terms are easy to understand once you know the basics. Our crypto slang dictionary explains the most common words and phrases you'll come across, from Apeing to WAGMI.

Addy

Short for "address", an addy is a wallet address used to send or receive cryptocurrency. You'll often see people ask, "Drop your addy" when sending tokens or NFTs.

Anon

Short for "anonymous". In crypto, people often refer to each other as "anon" regardless of whether their real identity is known. It's used as a casual way to address someone online.

Apeing

Apeing refers to buying heavily into a cryptocurrency or project without doing much research. The term comes from the phrase "apes together strong" and is usually associated with FOMO-driven investing.

Bagholder

A bagholder is someone left holding a cryptocurrency after its price has crashed. They're still carrying the "bag" while everyone else has sold.

Based

Originally internet slang, "based" is used to describe someone with an opinion that's respected, confident, or unapologetically honest. In crypto, it's often used as a compliment.

BTD

Short for "Buy The Dip". Investors use BTD to encourage buying an asset after its price has fallen, with the expectation that it will recover. Also known as BTFD.

Copium

Copium is a joke term describing the excuses investors make after a bad trade or falling prices. Someone "on copium" is convincing themselves everything will work out despite evidence to the contrary.

Cryptosis

Cryptosis jokingly describes becoming obsessed with crypto. Symptoms include checking charts every few minutes, reading whitepapers for fun, and talking about blockchain at every opportunity.

CT

Short for Crypto Twitter, now often used to describe the crypto community on X. CT is where many projects, influencers, and traders share news, memes, and market commentary.

CTO

Short for Community Takeover. A CTO happens when the original developers abandon a project and the community steps in to continue building and promoting it.

Degen

Short for "degenerate". A degen is someone who takes extremely high-risk trades, often chasing new meme coins, leverage, or experimental DeFi protocols.

Diamond Hands

Diamond hands refers to someone who refuses to sell despite market volatility. The phrase celebrates investors who hold through crashes in the hope of bigger gains.

DYOR

Short for "Do Your Own Research". It's a reminder not to rely solely on influencers or social media before investing.

Fish

A fish is a small retail investor with relatively little capital. It's the opposite of a whale.

Flappening

A tongue-in-cheek variation of "The Flippening". It describes a dramatic collapse in a cryptocurrency's price rather than it overtaking another asset.

Flatcoin

A flatcoin is a cryptocurrency designed to maintain purchasing power instead of tracking a fixed fiat currency like a stablecoin. The concept is still relatively new and experimental.

Flippening

The Flippening refers to the hypothetical event where Ethereum surpasses Bitcoin in market capitalisation. The term is sometimes used more broadly when one crypto overtakes another.

FOMO

Short for "Fear Of Missing Out". FOMO describes buying an asset because its price is rapidly increasing and you don't want to miss potential profits.

FUD

Short for "Fear, Uncertainty and Doubt". FUD refers to negative news, rumours, or sentiment that may cause investors to panic sell.

GM

Short for "Good Morning". It's a simple greeting that's become a daily tradition across crypto communities.

GN

Short for "Good Night". Like GM, GN is commonly used to sign off from crypto conversations.

GOAT

Short for "Greatest Of All Time". In crypto, GOAT is used to praise respected founders, developers, traders, or projects.

HODL

HODL started as a misspelling of "hold" in a famous 2013 Bitcoin forum post. It now means holding cryptocurrency for the long term instead of selling during market swings.

Hype Man

A hype man is someone who constantly promotes a project, often encouraging others to buy. Sometimes they're genuine supporters, while other times they're paid promoters.

IYKYK

Short for "If You Know, You Know". It's often used when referencing inside jokes, niche crypto culture, or opportunities recognised only by experienced investors.

Jeet

Jeet is a slang term for someone who sells too early, usually for a small profit. It's commonly used in meme coin communities.

JOMO

Short for "Joy Of Missing Out". Unlike FOMO, JOMO describes feeling happy about avoiding risky investments or market hype.

LARP

Short for "Live Action Role Play". In crypto, someone accused of LARPing is pretending to be wealthier, more knowledgeable, or more influential than they really are.

LFG

Short for "Let's F***ing Go". It's an expression of excitement used when prices rise, milestones are reached, or new products launch.

Maxi

A maxi, or maximalist, believes one cryptocurrency is vastly superior to all others. Bitcoin maxis are the best-known example.

Moonboy

A moonboy is an overly optimistic investor who constantly predicts huge price increases regardless of market conditions.

Mooning

When a cryptocurrency is mooning, its price is rising rapidly. The phrase comes from the idea that the asset is "going to the moon".

NGMI

Short for "Not Gonna Make It". It's used to mock poor investment decisions or bad takes.

No-coiner

A no-coiner is someone who owns no cryptocurrency, often while being sceptical or critical of the industry.

Normies

Normies refers to people outside the crypto community who aren't deeply involved in blockchain or digital assets.

Paper Hands

Paper hands describes someone who sells quickly at the first sign of price declines or volatility.

Pleb

Originally meaning an ordinary person, "pleb" is often used affectionately within Bitcoin communities to describe everyday investors steadily accumulating Bitcoin.

Pseudonymous

Pseudonymous means using a consistent identity that isn't your real name. Most blockchain wallet addresses are pseudonymous because transactions are publicly visible even if the owner's identity isn't immediately known.

Rekt

Short for "wrecked". Rekt describes suffering heavy trading losses, usually after a sharp market downturn or leveraged trade.

Rugged

If you've been rugged, you've fallen victim to a rug pull. This happens when developers abandon a project or steal investors' funds, causing the token's value to collapse.

SAFU

SAFU originated from a viral exchange meme based on the phrase "funds are safe". It's now used jokingly to reassure people that assets or systems are secure.

Shill

To shill is to aggressively promote a cryptocurrency, often because the promoter already owns it or has been paid to advertise it.

Shitcoin

Shitcoin refers to a cryptocurrency considered to have little utility, poor fundamentals, or questionable long-term prospects. It's often used jokingly, especially for meme coins.

Valhalla

Borrowed from Norse mythology, Valhalla is used to describe reaching massive financial success through crypto investing, often after holding through volatility.

Vaporware

Vaporware describes a crypto project that makes big promises but never delivers a working product.

WAGMI

Short for "We're All Gonna Make It". WAGMI expresses optimism that the community will succeed together.

Whale

A whale is an individual or organisation that owns a very large amount of cryptocurrency. Their trades can sometimes move markets.

When Lambo?

"When Lambo?" jokingly asks when crypto profits will be large enough to buy a Lamborghini. It's become shorthand for getting rich through crypto. Also known as “wen lambo?” and “wen moon?”

Whitelist

A whitelist is a list of approved wallet addresses that receive early access to token launches, NFT mints, or other exclusive events.

Whitepaper

A whitepaper is a technical document explaining a cryptocurrency project, including its goals, technology, tokenomics, and roadmap. Reading the whitepaper is an important part of DYOR.

Whole Coiner

A whole coiner is someone who owns at least one full Bitcoin. As Bitcoin has become more expensive, the term has become something of a milestone within the community.

Privacy in crypto: pseudonymous vs anonymous

One of the biggest misconceptions about crypto is that it's anonymous. In reality, most public blockchains like Bitcoin and Ethereum are pseudonymous.

A pseudonymous wallet isn't directly linked to your name, but every transaction is permanently recorded on a public blockchain. If someone connects your wallet address to your identity, they can often trace your transaction history.

Anonymous systems, on the other hand, are designed to hide the sender, recipient, or transaction amount. Privacy-focused cryptocurrencies use technologies that make blockchain activity much harder to trace.

For most crypto investors, it's safest to assume that blockchain activity can be analysed and linked back to them, especially when using exchanges that require identity verification.

Crypto communities

Crypto communities live online, and most projects have dedicated spaces where investors can follow updates, ask questions, and discuss the market.

Discord is popular for gaming, NFT, and Web3 communities, with channels for announcements, support, governance, and general discussion.

Reddit hosts some of the largest crypto communities, where users share news, technical analysis, educational content, and memes.

Crypto projects widely use Telegram for real-time announcements and community chats. It's also where many token launches and trading groups operate, although users should always be cautious of scams and impersonators.

Degens still get taxed

Whether you're HODLing, apeing into meme coins, or trading like a degen, your crypto activity may still have tax consequences. Learn more in our guides, or use Koinly to automatically import your transactions, calculate your gains, losses, and income, and generate tax reports to help make crypto tax season much simpler.