1. GM – good morning
Let's start with the pleasantries, because we're a polite and friendly bunch here in the crypto space.
GM stands for good morning. When someone wakes up, they might tweet GM to their followers. Nothing more to it.
2. GN – good night
No prizes for guessing that one correctly. GN is said before clocking off for the evening. There's a running joke in the crypto community that you say GM a few hours after saying GN, as lots of people don't sleep much and are up into the late hours researching crypto.
3. HODL - hold on for dear life
One of my very favourites. HODL stands for hold on for dear life, not to be confused with the misspelling of hold.
On bitcointalk.org in 2013, a user called 'GameKyuubi' posted a thread titled 'I AM HODLING'. Despite typing the title out twice before posting, he still managed to spell 'hold' wrong. The thread went viral and it became a meme with many people deeming themselves as 'hodlers'.
GameKyuubi had drunk whisky that night, and blames the misspelling on that. Thank goodness for the booze, because HODL is definitely one of crypto's most used terms.
You've definitely heard of Bitcoin, and you've probably heard of Ethereum. But what on earth is Doge? Doge is the nickname for the cryptocurrency Dogecoin, which was set up as a joke to prove that anyone can create a crypto.
During the famous rally of GameStop, Elon Musk tweeted his support for Dogecoin which drove the awareness (and price) of the coin to new heights of $0.73, bringing its market cap to a staggering $70 billion. That's a lot for a coin that started as a joke.
Where will Dogecoin end up? Who knows. Some think it'll fade from existence, whilst others are hedging their bets it'll be the currency of Mars thanks to Musk's ongoing support.
5. Diamond hands/ Paper hands
To have diamond hands is to HODL. Your hands are so tough that there's no way you're dropping your investment. On the other hand (hand pun intended), paper hands means you're likely to fold on your investment.
Oh to be a whale. If you're a whale in crypto, then you've made it. Whales are people who own such a large amount of crypto that they can affect the markets by buying and selling. Us minions often follow in the footsteps of whales when trying to assess the markets.
7. NFA – not financial advice
An important one when listening or reading any type of research.
Resources are good, but whether you see this disclaimer or not, just be reminded that the nothing you see is financial advice unless given to you specifically by a regulated financial advisor.
Not only when you see this – remember nothing you see is financial advice unless given to you specifically by a regulated financial advisor.
8. DYOR - do your own research
It is what it says on the tin. Always do your own research when making investment decisions.
9. FUD – fear, uncertainty and doubt
Ahhh the fud spreader. The HODLer’s nemesis. This is someone who is spreading negative predictions and thoughts. They are invoking fear, uncertainty and doubt into the market and when this is done collectively, it can drive the overall market price down.
10. WAGMI - We are all gonna make it
Another personal favourite of mine.
Say what you like about crypto, you can't deny the togetherness of the community and few acronyms symbolise this like WAGMI.
It’s often used when someone has just made a purchase, and they want to notify their followers that they're feeling good about it.
That’s all for crypto terms today, but you can always read more about what the blockchain is and whether all cryptos use the same blockchain.
Make sure to let us know if you'd like to hear more crypto terms!
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