In your crypto journey, you’ve likely stumbled upon words or phrases you didn’t get, right? And that’s totally normal because the crypto world is packed with technical terms, slang, and acronyms.
So, if you’re wondering what WAGMI, NGMI, or GM mean, you’re not alone! But don’t worry. In this article, we’ll dive into the popular slang (WAGMI, NGMI, and GM) used in today’s Web3 and crypto market.
Understanding Crypto Slang: What is a Crypto Slang?
Crypto slang refers to the informal terms, phrases, and abbreviations people use when discussing various topics, concepts, actions, and events regarding crypto space within online communities.
These terms are often created and adopted organically within online communities and forums, evolving over time to reflect current trends and experiences.
Crypto slang serves two main purposes:
1. It acts as shorthand for long technical terms or phrases, simplifying communication in the crypto community.
2. It adds a playful and humorous touch by referencing internet memes, popular culture, or specific events within the cryptocurrency world. This helps create a sense of community identity and shared understanding among crypto enthusiasts.
WAGMI Meaning
WAGMI stands for “We’re All Gonna Make It,” and it is an acronym used on social media platforms among traders and investors to express optimism and encouragement (to encourages investors).
It suggests that both the user and others will succeed in profiting from their investments over time despite temporary fluctuations in portfolio value due to market volatility or uncertainty.
WAGMI Meaning in Crypto Community
Whether talking about the stock market or the crypto market, WAGMI is understood and perceived the same: WAGMI is a rallying cry abbreviation for “We’re All Gonna Make It,” frequently used in online communities, particularly in the crypto world to express optimism and encouragement. It’s a phrase that embodies unity, determination, and positiveness among individuals who share a common interest in cryptocurrencies and their potential for future success.
This expression reflects a positive mindset toward achieving success or reaching a specific goal, commonly embraced by those involved in crypto projects or invested in a crypto asset or non-fungible tokens (NFTs), who believe in their eventual triumph.
The crypto slang WAGMI became popular in 2021 thanks to the WallStreetBets (WSB), a subreddit community on Reddit known for their bold stock trading strategies. As cryptocurrency prices soared and attracted mainstream attention, crypto traders and crypto investors started using WAGMI as a way to show solidarity.
WAGMI also fits into the idea of Web3, which believes that working together as a community will lead to positive outcomes and financial success in the long term.
People use WAGMI to boost confidence in the crypto market, but it can also be used sarcastically, especially when prices are falling.
Real World Examples of Situations When You Can Use WAGMI
1. Scenario: You see a friend on social media who is discouraged because the price of his favorite cryptocurrency has dropped significantly.
WAGMI usage: You reply to their post with, “Hey, stay strong! Remember, WAGMI. This could be a good buying opportunity in the long run.”
2. Scenario: You are participating in an online discussion about a new decentralized finance (DeFi) project.
WAGMI usage: You contribute to the conversation by saying, “The project’s roadmap looks promising, and the team seems experienced. WAGMI if they can deliver on their plans!”
3. Scenario: You are attending a meetup event for crypto enthusiasts. During a casual conversation, someone expresses their excitement about major institutions’ increasing adoption of cryptocurrencies.
WAGMI usage: You reply with a smile, “I agree, it’s a positive sign for the future! WAGMI as crypto continues to gain mainstream acceptance.”
GM Meaning
GM is short for “Good Morning” and is commonly used as a social greeting to cultivate a sense of connection and camaraderie within online communities.
Although closely associated with crypto slang, “GM” predates the rise of crypto communities.
GM Meaning in Crypto Community
In the same way as in other industries, in crypto, GM has the same meaning:
GM is an abbreviation for “Good Morning,” a widely used greeting within the crypto community.
Crypto enthusiasts frequently come together on platforms such as Discord, X (Twitter), Telegram, or chat groups to exchange insights, discuss market trends, and enjoy casual conversations.
Saying “GM” is a friendly way to kick off the day and establish connections with other community members.
This familiar greeting holds special importance for Web3 enthusiasts on social media channels.
Moreover, it’s occasionally used as a promotional tactic for particular NFT projects. Recipients are urged to reply with a GM message, tag friends, and display their own NFT creations, fostering engagement and NFT community involvement.
Real World Examples of Situations When You Can Use GM
1. Scenario: You wake up and check your phone, seeing several messages from your crypto community group chat.
GM usage: You post a message in the chat saying, “GM everyone! Feeling bullish today, what about you?”
2. Scenario: You are browsing X (Twitter) and see a tweet from a popular crypto influencer.
GM usage: You reply to the tweet with, “GM [influencer’s name]! Interesting insights, thanks for sharing.”
3. Scenario: You are participating in a live Q&A session with a crypto project developer.
GM usage: Before asking your question, you say, “GM and thanks for taking the time to answer questions!”
NGMI Meaning
NGMI is an abbreviation for “Not Gonna Make It,” an internet slang term commonly used to convey a sense of hopelessness or lack of confidence in something, often reflecting feelings of frustration or disappointment.
While this term is generally employed within finance, it’s particularly accentuated in the context of crypto investments.
NGMI Meaning in Crypto Community
“Not Gonna Make It,” or NGMI, is a slang term frequently used in online communities, especially within crypto investing and trading. Originating from social media platforms, it signifies a lack of confidence or frustration.
When someone employs the term NGMI, they’re expressing skepticism about an individual’s, or even their own, ability to make successful trades or consistently generate profits in the market.
It could be used humorously or self-deprecatingly, acknowledging the challenges and risks of crypto trading or identifying worthwhile cryptocurrency investments.
Alternatively, it may refer to someone who prefers to secure profits rather than simply holding onto their crypto assets and waiting for even larger gains.
Furthermore, NGMI can be used to mock a specific project, such as a newly launched meme coin.
Real World Examples of Situations When You Can Use NGMI
1. Scenario: You are on a social media platform where someone is promoting a “guaranteed” get-rich-quick scheme related to cryptocurrency.
NGMI usage: You reply to the post with, “This sounds too good to be true. Be careful, it’s NGMI with these types of schemes.”
2. Scenario: You are in an online discussion about a particular crypto project that has received negative press and seems to be facing technical difficulties.
NGMI usage: You contribute to the conversation by saying, “The project’s roadmap seems unrealistic, and they haven’t addressed the recent issues. This one might be NGMI.”
3. Scenario: You advise a friend to consider investing in a new cryptocurrency with a minimal track record and limited information available.
NGMI usage: You advise your friend to do their research and explain, “It’s hard to say without more information, but blindly investing in something unknown could be NGMI.”
WAGMI Meaning vs. GM & NGMI Meaning
WAGMI and NGMI are opposite terms in the cryptocurrency lexicon.
WAGMI, short for “We’re All Gonna Make It,” exudes positivity (or positive connotation) and confidence within the crypto community, symbolizing unity and optimism even during challenging times.
Conversely, NGMI, or “Not Gonna Make It,” carries a negative connotation, expressing frustration or a lack of confidence in the crypto markets. It signifies doubt or skepticism about one’s ability to succeed in trading or investing.
In contrast to these 2 terms we already mentioned, GM, short for “Good Morning,” is a simple and universal greeting used to start conversations on multiple platforms and chat groups (such as Telegram groups or Discord groups). It is not specifically related to either WAGMI or NGMI. GM serves as a friendly gesture to promote interaction and establish a welcoming atmosphere among individuals, irrespective of their specific interests or activities.
Related article: Crypto Glossary – Cryptocurrency Terms You Should Know
FAQs
What Does WAGMI Mean in Crypto?
WAGMI is an optimistic phrase, standing for “We’re all going/gonna make it.” It’s a rallying call in the crypto world, expressing confidence and unity among enthusiasts.
What Does WAGMI Mean in NFTs?
In NFTs, WAGMI serves a purpose similar to that of crypto: boosting the morale of buyers, particularly of specific NFT projects. It’s used to instill optimism and a sense of community among NFT collectors.
What is the Difference Between NGMI and WAGMI?
NGMI, or “not going to/gonna make it,” is the opposite of WAGMI. While WAGMI embodies confidence and positivity, NGMI expresses doubt or skepticism. However, both can also be used sarcastically, flipping their meanings.
Conclusion
The world of cryptocurrency has its own unique language, filled with slang terms like WAGMI, GM, and NGMI. Understanding these informal expressions can help you navigate online neighborhoods, engage in conversations, and gain a deeper understanding of the collective belief within the crypto culture.
However, remember that while this article explores the meaning and usage of crypto slang, it is crucial to conduct your own research and exercise caution before making investment decisions. Cryptocurrency is a volatile and complex market, and WAGMI should not be taken as financial advice. Always prioritize responsible investing practices and consult with qualified financial professionals before committing your funds.
Understanding the language and approaching the market with caution and research allows you to navigate the crypto space more confidently and make informed decisions.
