44 NFT & Crypto Slang Terms You Need to Know in 2023 Udonis

SAFU is actually Binance’s initiative that protects people’s funds and is short for Secure Asset Fund for Users. In 2018, Binance’s CEO tweeted “funds are safe” and the YouTuber Bizonnaci made a funny video based on it, but changing it to “funds are safu”, and it stuck. GOAT stands for “greatest of all time” and it’s one of the best compliments you can give someone in crypto and other communities. It refers to when the floor price of an NFT project is rising fast because it’s being bought quickly. Looking to get critical illness coverage but not sure how much you’ll need?

WAGBO stands for “we are gonna be okay” and it’s similar to WAGMI – its primary use is to encourage people and ensure that everything is going to be okay. WAGMI is the opposite of NGMI and it means “we’re all gonna make it”. People from the crypto sphere use it to spread hope and optimism to the community. P2E refers to play-to-earn games, which are a popular type of blockchain games where players can earn by playing.

Tornado Cash Sanctions Key to Drop in Crypto Hacks Last Quarter: TRM Labs

The crypto community uses the acronym to inspire positivity and confidence in a project. It also encourages the community to support each other and not lose hope. ATH is short for ‘all-time high’ and refers to the highest price an asset has historically reached since it was first listed.

A type of scam, pump-and-dump schemes involve artificially inflating the price of an asset through false or misleading positive information. Typically, a group of people will buy large quantities of a particular asset at a low price all at once, driving up the demand and price of the respective asset. A person with a traditional mindset and little or no knowledge of cryptocurrencies.

Layer-1 Blockchain

It’s important to be aware of wrapped Bitcoin when considering investing in either Bitcoin or Ethereum, as it could impact the value of your investment. Wrapping your Bitcoin Crypto slang can be seen as positive, as it allows you to use the benefits of both networks. However, it can also be seen as negative, as it can lead to an inflation of the currency.

The current state of the cryptocurrency market can be determined by looking at the overall trend of prices. Shilling is when someone with a vested interest promotes a particular cryptocurrency in order to create excitement and entice potential investors to buy. Individuals who are paid to promote a certain coin or token may also be considered shillers.

FUD (Fear, Uncertainty and Doubt)

These are just a few of the many terms that you’ll come across when reading about cryptocurrency. The goal of web three is to create a more open, secure, and accessible internet. Web three-dot-zero is being built by companies and https://investmentsanalysis.info/ projects such as Ethereum, IPFS, and ENS. One of the most popular Oracles in cryptocurrency is called Chainlink. Chainlink is a decentralised Oracle network that provides data and information to smart contracts on Ethereum.

Vaporware is the fancy name for coins that you really don’t want in your wallet. These coins are surrounded by hype and artificially inflated in value. In reality, though, they may be worth next to nothing – also known as, well, a type of coin that rhymes with ‘Bitcoin.’ Don’t be left holding this bag, unless you want to be #rekt. Cryptocurrency slang is far too modern for this to be a The Honeymooners reference, so what does ‘to the moon!