Cryptocurrency Acronyms and Meaning

NGMI

NGMI stands for ‘not gonna make it.’ In crypto, it is often used as a prediction of future failure as the result of a poor decision (such as selling the bottom despite all market indications that a token’s value is on an upward trend). It can also be used as a label to ridicule people who have taken a stance against crypto or who fail to understand basic crypto concepts.

LFG

LFG is short for ‘let’s f–ing go!’ and is used to express excitement about a project.

KYC

KYC stands for ‘know your customer’ and is used by financial institutions to verify the identity of individuals using their services. In the crypto space, KYC is commonly used by major centralised exchanges and is a standard practice amongst many institutions. In the context of crypto, it typically means being asked for a full legal name and government-issued identification documents when signing up for a platform. This can be a passport, driver’s licence, or other similar forms of identification.

Address

A unique string of letters and numbers to and from which cryptocurrency is sent. An address—which is usually a hashed version of a public key—functions like an email address