From BTD to FUD to WAGMI: Understanding Crypto Acronyms

If you follow crypto on Twitter, Discord or another platform, you may see people saying that they have “FOMO” or that the market is driven by “FUD.” Here’s what you need to know to decode the conversation.

Updated Apr 10, 2024 at 2:20 a.m. UTC

Acronyms are common in the crypto world. They can look confusing at first, but once you know the meaning behind the alphabet soup, it is easy to understand and join the crypto conversation.

Let's break down some of the most important and common acronyms from the commonly used ones to those used as trading advice. Once you understand the meanings, you can talk like a pro.

Crypto acronym glossary

Common technical acronyms

CEX: Centralized Exchange is an exchange like Binance or Coinbase that matches up buyers and sellers of cryptocurrencies and holds customer funds.

DAO: Decentralized Autonomous Organization is a member-governed organization with no central authority like a CEO or directors. It is an organizational structure whose rules and regulations are embedded in code and enforced through the use of smart contracts.

Dapp: Decentralized Application is an application that runs on a peer-to-peer network without any central authority or middlemen. It uses a blockchain as its base layer to store data and verify transactions.

DeFi: Decentralized Finance is a method in which financial transactions do not involve an intermediary such as an institution or agent.

DEX: Decentralized Exchange is an exchange where orders are matched via a peer-to-peer network without requiring an intermediary to hold all user funds or deposits in accounts

EVM: Ethereum Virtual Machine is a virtual environment that facilitates the execution of smart contracts and manages its internal state.

PoA: Proof of Authority is a consensus mechanism where a centralized authority controls who is allowed to verify transactions based on their track record of reliability within the blockchain network.

PoS: Proof-of-Stake is a consensus mechanism that requires participants to stake their crypto in order to be a validator of transactions within a blockchain network. In return for staking, these validators have the opportunity to verify transactions to earn more crypto as a reward.

PoW: Proof-of-Work is the consensus mechanism used by Bitcoin and is one of the most common consensus protocols used in blockchain networks. In PoW, miners compete to solve complex mathematical problems to add blocks to a blockchain ledger and receive rewards for their work from the network.

Crypto exchange acronyms

2FA: Two Factor Authentication adds another layer of security by requiring a second method of verification in addition to a password before granting access. This could be a code sent via text message or generated by an app like Google Authenticator.

ICO: Initial Coin Offering is a way to raise money for a crypto project by minting a native digital token and selling it.

KYC: Know Your Customer refers to the procedures businesses must follow when verifying the identity of their customers.

P2P: Peer to Peer refers to any interaction that happens directly between two parties without an intermediary.

PnD: Pump and Dump occurs when a person or group of people artificially inflate the price of an asset and then sell it quickly for a profit.

ROI: Return on Investment is how much you earn from what you invested in an asset.

SATS: A Satoshi is the smallest unit of a bitcoin. There are 100 million satoshis (sats) in one bitcoin.

Trading advice acronyms

BTD: Buy the Dip is often used when the price of a coin falls dramatically. It is seen as an opportunity to buy at the lower price before it rises again.

DYOR: Do Your Own Research means that before investing in anything, including cryptocurrency, it's important to do your own research and not just rely on other people's advice or opinions.

FOMO: Fear of Missing Out is a common crypto refrain. Most often used in the context of worrying about missing out on an opportunity to make money, but can also be used generally for anxiety of missing out on being part of events or new projects.

FUD: Fear, Uncertainty and Doubt is used when people share negative information about cryptocurrencies online. The person sharing may be accused of spreading “FUD” or that people selling an asset are doing it out of FUD.

NGMI: Not Gonna Make It is used by the crypto community for projects that are going to fail, or if someone has made a bad decision as an investor while ignoring market data or advice, you’re “ngmi.”

WAGMI: We're All Gonna Make It is used as a rallying cry in the crypto community. It’s often used in the context of everyone sticking together and succeeding by investing in a crypto token or project.

This article was originally published on Jun 28, 2022 at 3:21 p.m. UTC


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Mike  Antolin

Mike Antolin was CoinDesk's SEO Content Writer for Learn.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.