What is LFG? Explore 28 cryptocurrency slang terms you need to master

Have you ever felt lost when browsing Twitter or cryptocurrency forums? Phrases like HODL, FOMO, FUD, or mysterious abbreviations like LFG, IYKYK, BTD keep popping up everywhere, and you don’t understand their meanings. What is LFG? Does Bagholder relate to trading? Let’s explore the most common terms in the crypto community so you can confidently join discussions without feeling out of place.

Psychological behaviors in trading: From FOMO to HODL

FOMO (Fear of Missing Out) is a trader’s fear of missing a profit opportunity. This is the main driver behind Bitcoin’s rapid price swings in 2017. This fear often causes individuals to make emotional rather than rational decisions.

Conversely, HODL (a misspelling of “Hold”) represents a long-term buy-and-hold strategy. The term originated from a 2013 post on the Bitcointalk forum. A HODLer will stubbornly keep their position regardless of price fluctuations, believing in the long-term value increase of cryptocurrency.

FUD (Fear, Uncertainty, Doubt) is a psychological tactic used to influence people negatively. It can be deliberate efforts to manipulate prices downward or general skepticism about crypto. Unlike FOMO, which occurs during market rallies, FUD spreads easily during downturns.

Trader actions: From Ape to Diamond Hands

Ape or aping describes buying tokens immediately after launch without thorough research. This is often impulsive and high-risk.

BTD (Buy The Dip) is a strategy encouraging buying assets at lower prices, with the idea that prices will eventually recover and rise.

Diamond Hands and Paper Hands are opposing terms. Diamond Hands refers to traders with high risk tolerance who hold their positions despite market volatility. In contrast, Paper Hands panic-sell at the first sign of trouble, showing low risk tolerance.

Weak Hands describes those who sell their crypto at the first sign of a price drop, similar to Paper Hands.

Common scam strategies to watch out for

Rug Pull is a scam where developers abandon a project before completion, withdraw all assets, and leave investors with worthless tokens. The name comes from “pulling the rug out from under someone,” implying sudden betrayal.

Pump and Dump is a scam involving artificially inflating a token’s price through false information, then selling off at the peak for quick profit. Usually, a group buys large amounts at low prices, boosts demand, then dumps to profit, leaving late buyers with losses.

Cryptojacking is a cybercrime where hackers secretly hijack victims’ computing power to mine cryptocurrencies, which became widespread around 2017 as crypto prices surged.

What does the crypto community say: GM, LFG, WAGMI

GM (Good Morning) is a way to start the day online. Community members often tweet GM to greet each other, and followers reply with GM as well.

LFG (Let’s F–ing Go!) expresses excitement about a project. It’s one of the most energetic terms in crypto, often used when markets are rising or positive news breaks.

WAGMI (We All Gonna Make It) is widely used to inspire optimism and confidence in a project. It encourages community support and hope.

NGMI (Never Gonna Make It) is the opposite of WAGMI, used to predict failure or mock critics.

IYKYK (If You Know, You Know) implies that a post only makes sense to those in the know, sometimes used sarcastically.

Advanced vocabulary: Whale, Sats, Flippening

Whale refers to an individual or organization holding large amounts of crypto. While no official threshold exists, whales are big enough to influence market prices. Due to their large trades, whales can cause temporary volatility, especially in low-liquidity assets. Related term: Bear Whale—a whale who tends to sell off or push prices down.

Sats is short for Satoshis, the smallest unit of Bitcoin (BTC), named after Bitcoin’s creator Satoshi Nakamoto. 1 Bitcoin equals 100 million Satoshis. Think of Sats like cents in dollars.

Flippening (the “flip”) describes a potential event where Ethereum (ETH) surpasses Bitcoin (BTC) in market cap. Coined in 2017, it refers to ETH overtaking BTC. A related term is Flappening, introduced by Charlie Lee in 2018, describing Litecoin (LTC) surpassing Bitcoin Cash (BCH).

Moon or Mooning describes a cryptocurrency’s rapid price increase. When a coin is “going to the moon,” its price is skyrocketing. Enthusiasts called Moonbois or Moonboys are those overly optimistic about price surges. The phrase “When Lambo?” is often used sarcastically to mock traders obsessed with quick riches, referencing wealthy investors buying Lamborghini supercars.

Other key player terms

Bagholder describes someone holding assets despite continuous declines. They may hold even when the value drops to near zero, often out of hope or fear of losses.

Bitcoin Maximalist believes Bitcoin is the only valuable cryptocurrency and the only digital asset worth supporting.

No-coiner is a derogatory term for someone strongly criticizing crypto, believing it has little or no value.

Normie refers to a person with traditional thinking and little or no crypto knowledge.

Cryptosis describes someone obsessed with learning about crypto and constantly talking about it.

Shilling is when someone promotes a specific cryptocurrency for personal gain. Paid promoters or those paid to advertise a coin are also considered shillers.

Other essential terms

Rekt (wrecked) slang for experiencing severe financial loss.

Vaporware refers to a blockchain project that remains a concept without an actual working product. Software projects may be hyped months or years before launch or never released at all.

DYOR (Do Your Own Research) reminds investors to thoroughly research projects before investing. It’s a fundamental principle in crypto communities.

Conclusion: Knowledge is key

From the energetic LFG (Let’s F–ing Go!) to cautious DYOR (Do Your Own Research), crypto slang reflects the community’s psychology, actions, and culture. Understanding these terms helps you grasp the market language and avoid common pitfalls. LFG and all other terms are part of a vibrant, evolving language. Stay updated, do your research, and trade wisely.