An Illustrated Glossary of Cryptocurrency Slang (Infographic)

From "whales" to "shills" and "bag holders," if you want to be a successful cryptocurrency investor, here are the terms you should know.

learn more about Rose Leadem

By Rose Leadem

Prasit photo | Getty Images

Opinions expressed by Entrepreneur contributors are their own.

Since the rise of Bitcoin over the past few years, cryptocurrencies have been all the hype. And if you're interested in hopping on-board the crypto-train, it's important to know what you're talking about. Just like the pool of investors and the market itself have grown considerably over the years, so has the culture, along with new slang and memes popping up everyday.

Related: 14 Things You Need to Know About Bitcoin

To equip yourself with up-to-date cryptocurrency slang, here's a quick glossary of important terms you should know. For starters, get used to hearing the word "whale" thrown around. Whales are investors who own five percent or more of any cryptocurrency coin. Other names to be aware of are "shills" and "bag holders." A shill is basically a scammer in the crypto-world -- a person who promotes altcoins for their own benefit. They encourage others to invest in altcoins in order bump up their own investments. Bag holders are people who hold onto their investments for too long. When it comes investing in the volatile cryptocurrency market, it's incredibly important to know when to hold on and when to let go.

Speaking of holding onto investments, another common term is the acronym, "HODL," meaning "hold on for dear life." This term was coined after someone accidentally wrote HODL instead of "hold" in a 2013 Bitcoin forum. From the hashtag #REKT, used to describe investors who experience a major coin collapse, to the phrase "to the moon!", meaning a coin is increasing extremely fast, there are a number of tricky terms to learn if you plan on being a successful crypto-investor.

Related: What are the Fundamental Benefits of Bitcoin Over Traditional Money?

To prepare yourself, check out 99Bitcoin's infographic below for an illustrated glossary of cryptocurrency slang.

Rose Leadem
Rose Leadem is a freelance writer for Entrepreneur.com. 

Related Topics

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.

Marketing

6 Ways to Wring All the Value from Your Earned Media Coverage

Press coverage can help your brand gain visibility and increase credibility — but not if no one sees it. What can you do to get more value from the media placements you've worked so hard to earn?

Living

Invest in Yourself: 10 Things Every Working Woman Should Do This Year

When striving for success, it is easy to forget about your mental and physical health. But without health, you cannot fully succeed. Follow these ten lifestyle strategies for success in your personal and professional life.

Business News

Out With the Kibble and In With the Steak. The World's Richest Dog Has a Net Worth of $400 Million – And a New Netflix Docuseries Too

'Gunther's Millions' is set to unpack the pooch's mysterious fortune and what those around him have done with his inheritance.

Business Ideas

55 Small Business Ideas To Start Right Now

To start one of these home-based businesses, you don't need a lot of funding -- just energy, passion and the drive to succeed.