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Crypto Slangs You Should Know
Tech-savvy millennials meet finance
The Crypto community uses some jargon that comes from the traditional finance community such as “bear”/“bull” and “long”/“short”. However as crypto is full of a younger crowd made up of mostly millennials and Generation Z, they have come up with some slang terms to better describe the various scenarios that they go through in this roller coaster that is called the “crypto markets”.
Token
Its actual definition comes from when companies ICO (initial coin offering), and give out their shares in forms of cryptocurrency. However in the community this word has become synonymous to refer to any cryptocurrency.
FOMO
This is one that has even gone mainstream even on traditional “news” channels like CNBC Money.
FOMO = Fear Of Missing Out. It generally has a negative connotation of people (normies/noobs) acting with a herd mentality and buying into tokens like Bitcoin after the price has been artificially raised because of media coverage.
Normie
Crypto investors refer to people who still think with a traditional mindset and as a result have decided to stay out of the crypto market as “normies”.
Noob
Borrowed from gaming culture, a noob or sometimes referred as a “noobie” or “newbie” is a person who has newly gotten interested in crypto currency.
FOLE
Pronounced faw-lee, FOLE is the opposite of FOMO. It stands for Fear Of Losing Everything. Just like FOMO greeds people to buying in, FOLE fears people into selling when the price of their token is going down because they feel that it will crash to the bottom. The issue with FOLE is that, it can urge people to sell and incur a loss whereas they could’ve held it longer until the price of their token/cryptocurrency went back up again.
Hopium
Portmanteau of “hope” and “opium” is the “under the influence” like state traders feel sometimes while waiting for their tokens to raise in price. This word is especially used when the feelings of the traders is based on pure speculation and not actual fundamentals.
