Hodl Your Coins and Ignore the FUD: Crypto Slang Explained

Bitcoin Jul 30, 2020

Twitter, Reddit, and crypto blogs are some of the best ways to learn about cryptocurrency, but it's easy to get sidetracked by the mystifying terminology used in the world of crypto. But it's not just online where this is important: whenever you interact with the many places that accept Bitcoin, you need to know how to fit in so you can spend your crypto wisely and avoid becoming a target. But don’t worry, Coinmap has compiled a list of some of the most-used crypto slang terms to help you out. So the next time you read something like “ignore the FUD and don’t have weak hands”, you’ll know exactly what it means and how to respond!

Common crypto terms and phrases

Hodl - Originally a typo of "hold", this was quickly adopted by the irreverent crypto community. When you hodl, you’re resisting the temptation to sell or spend bitcoin, even when it might be a great time to do either. Hodlers amass and keep a tight hold on their coins and aren’t looking to part them anytime soon.

To the moon - A joyous exclamation when crypto prices are quickly rising. Some even use "moon" as a verb.

“Bitcoin is mooning right now, it crossed $15,000!”

And while Bitcoin may not be reaching its previous highs quite yet, it's been on a steady rise—there's no better time to buy crypto and hodl on tight!

Space rocket with silver Bitcoin by Marco Verch, licensed under CC BY 2.0.

FUD - Also used outside the crypto sphere, this stands for fear, uncertainty, and doubt. FUD is either spread as a normal reaction to market uncertainty, or intentionally by companies, the media, or crypto analysts to weaken the market, competition, or a specific opponent. There’s a great name for someone who intentionally spreads FUD—they are, of course, a FUDster.

“Ignore the FUD, hodl your coins!”

Crypto happenings

Halving / the Halvening - "The Halvening" sounds like a dodgy horror movie, but it’s something that happens to Bitcoin roughly every 4 years. This is when the number of block rewards (new bitcoins entering circulation through mining) drops by half. It creates excitement because demand stays the same, while there is less supply; in theory, this will push up the price—a good sign for those wise enough to invest in crypto.

The flippening - The theoretical moment when another cryptocurrency overtakes Bitcoin and dominates the market. This often comes up around Ethereum, the cryptocurrency with the second-highest market share after Bitcoin.

“I’m telling you, the way Ethereum is going, we’ll see the flippening by the end of the year!”

Crypto trader nicknames

Nocoiner - Someone who doesn’t have any coins, is uninterested in, or scoffs at cryptocurrency. It can be used for anyone without coins, but usually this just means a crypto skeptic. Luckily, we have some good arguments to convince nocoiners that crypto investments are a good idea.

Wholecoiner - If you own one “whole” bitcoin, congratulations—you can call yourself a wholecoiner! Because of the rising value of Bitcoin, this has become a pretty exclusive club, so wholecoiners are often dubbed "the new 1%" by some.

Altcoiner - An altcoin is a cryptocurrency that isn’t Bitcoin, so an altcoiner is simply someone who owns any cryptocurrency other than Bitcoin.

Pile of cryptocurrency coins including Bitcoin, Monero, ZCash, Ethereum, Litecoin, Ripple, and Dash by QuoteInspector.com, licensed under CC BY-ND 2.0.

Bitcoin maximalist - This person won’t go near any altcoin—they're doggedly determined that Bitcoin is the only true cryptocurrency and nothing else will come close. Don’t even attempt to change their mind: it's not going to happen.

Shitcoiner - The less polite term used by bitcoin maximalists instead of "altcoiner". Enough said.

Weak hands - Think of weak hands as the opposite of hodlers. They’re likely to sell their coins as soon as there’s a hint of market decline without planning or strategizing and are prone to panic - therefore, they’re the perfect target for FUDsters. Basically, you never want to have weak hands.

Whale - Unsurprisingly, this is a big player in the crypto market, someone who’s holding a large amount of coins and wields a lot of power. When these guys buy or sell, they have the ability to move the market almost single-handedly.

Bagholders - Like weak hands, this is something you never want to be. Bagholders are unfortunate souls who hoped to sell their coins at a higher price but missed their chance as the market moved too quickly - therefore, they are "holding bags" of low-value coins.

Maybe you’re a whale, a hodler, or a wholecoiner—or all of the above if you're lucky. Perhaps you’re predicting the flippening, or have benefited from the recent halving. Or maybe you're just getting started in the world of crypto. One thing's for sure: to participate fully in the world of crypto and take advantage of all the Bitcoin merchants you find on our heatmap (if you're not hodling, that is!), you have to get your hands on some crypto. Our sister site Invity.io has a comparison tool that makes it the best way to buy crypto, and it even has its own list of crypto terms you should know!

Cover photo: Definition of blog by Doug Belshaw, licensed under CC BY 2.0.

Coinmap gives you the best places in the world to spend cryptocurrencies. But before you spend crypto, you have to get some: our companion project Invity.io gives you the best all-in-one place to buy, exchange, and save digital currencies.