Learn the Crypto Slang – Part Five

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Learn the Crypto Slang – Part Five

When reading crypto articles, do you often come across slang expressions such as „DEX“, „DYOR“, or „FUD“ that you might not completely understand? That won’t be a problem for you anymore! 

Fumbi has prepared for you a five-week blog series with the most important abbreviations and terms from the world of crypto. It doesn’t matter whether you are a novice or a professional. The crypto world is rapidly evolving, so it’s essential to keep up with the slang used by the crypto community.

In part five, we prepared for you the following ten terms from the world of cryptocurrencies:

  1. Altcoin – An altcoin is a generic term for alternative cryptocurrencies, which means all cryptocurrencies except Bitcoin. The most famous altcoins include Ethereum, Cardano and Polkadot.
  1. Crypto OG – In the world of cryptocurrencies, OG is a highly respected person who often has a wealth of experience in using cryptocurrencies.
  1. Faucet – Faucets are websites or applications that reward users with new cryptocurrencies for completing easy tasks (for example, solving Captchas). The main goal is to spread awareness about the world of crypto.
  1. Blok Genesis – It is the first block ever mined on the blockchain of any cryptocurrency. In the case of Bitcoin, the genesis block was mined on 3 January 2009 and contained an initial block reward of 50 BTC.
  1. Laser eyes – They symbolise a bullish attitude towards Bitcoin and other cryptocurrencies. They have become especially popular on Twitter at the beginning of last year, when celebrities and famous personalities began adding laser-eyes to their profile pictures.
  1. Memecoin – It’s a type of cryptocurrency created out of a recession or in response to a certain funny event or situation. However, the purpose of these cryptocurrencies isn’t solving economic problems. Currently, the most famous meme coins are Dogecoin and Shiba Inu.
  1. Mempool – Mempool is a term for the „digital waiting room“ where transactions are collected before miners include them in a block.
  1. Satoshi – Satoshi is the smallest unit of the most popular cryptocurrency, Bitcoin. One satoshi is equivalent to 0.000000001 BTC and is named after Satoshi Nakamoto, founder of the Bitcoin network.
  1. Stablecoin – Stablecoin is a cryptoasset pegged to a fiat currency of the traditional world. As a rule, stablecoin mirrors the price of the stabilising currency (for example, USD or EUR), which makes its price stable in time. The most popular stablecoins include USDT, USDC and UST.
  1. Vaporware – A term for a long-awaited crypto project, the launch of which was announced a long time ago but never became a reality.

Do you want to improve and know all of the essential terms from the world of cryptocurrencies? Take a look at our Fumbi dictionary, where you’ll find many more terms and abbreviations.

In case you’ve missed our previous crypto slang articles, you can find them at the following links:

Learn the Crypto Slang – Part One

Learn the Crypto Slang – Part Two

Learn the Crypto Slang – Part Three

Learn the Crypto Slang – Part Four

Invest with Fumbi

If you want to capitalise on the potential of cryptocurrencies for your future, begin investing with our Fumbi Index Portfolio. We update the cryptocurrencies in the portfolio every three months – we add cryptocurrencies with the potential to grow and discard those which no longer meet our criteria. Furthermore, your investment is regularly administered by the sophisticated Fumbi Algorithm that follows the market’s growth as a whole and doesn’t rely on individual cryptoassets.

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Juraj Forgacs

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