If you have been regularly following crypto news, then you must have come across important crypto terms like FOMO and HODL. But do you know the difference between the two? If not, then let us tell you that most of the users consider these two terms as pole opposite to each other. By HODLing you expect an increase in the value, but if you don’t prefer it, then most probably, you go for FOMO, expecting many exciting opportunities. Avoid being a fool. Today, in this article, we will let you knowing about JOMO. A term that you might not be knowing much. So know it now.
But before we move ahead to knowing about JOMO, first let you know about what is HODL in crypto? So this is a term that was used by a drunken trader on Bitcoin forum saying ‘’I am HODLing. The actual meaning of this term is holding the cryptocurrency. The word HODL unexpectedly became a popular term which is a misspelt version of the word ‘Hold’. Coming on to another term is FOMO. The full abbreviation of this word means ‘Fear Of Missing Out’. But since our main topic is about JOMO, so let us concentrate on it. JOMO stands for Joy of missing out.
While exploring the crypto world, you must have noticed that most of the users focus much on the trading aspect of cryptocurrencies. This becomes important to check out those who keep themselves away from the deals that appear authentic. Now the fact about JOMO will make you understand in this regard. JOMO is a situation when the trader seems happy by not taking any active participation in the latest trends of cryptocurrency. Or say, the trader is much interested in HODL, instead of falling in a situation where there is a feeling of panic for selling. Apart from it, there is a fear of FOMO in buying crypto coins.
How Is JOMO Different From FOMO
While knowing about JOMO, you need to understand that it is the opposite of FOMO. Crypto enthusiasts mostly prefer this term to show their happiness of not being involved in any crypto industry short-term benefits like trading. It is because they are well aware of the fact about fluctuating values and ICOs scams. Being a crypto user, you must have experienced JOMO during the high price, but later got down. And you smartly kept yourself away from the initial coin offering trying to drag your attention for a deal.
If you regularly follow the latest news on cryptocurrency, then you need to understand that trading in cryptocurrency should not be your ultimate aim. No doubt, it has become a well-known digital technology in today’s context, but there are also risks involved in it. By JOMOing, you can save your money from any unexpected danger while trading in cryptocurrencies. You must prefer those projects that are useful and unique.
So if you haven’t been knowing about JOMO, then today we let you understand it. It is the opposite of FOMO. JOMO helps you in falling into any trap or any other risks in cryptocurrency trading. This way you can save your precious money and danger. Cryptocurrency is indeed a popular financial phenomenon, but it does involve some risks, especially for those who focus on trading more. JOMO saves them from not participating in any ICO schemes that might not be completely authentic. Also, you should not forget about the volatility factor, where the price can anytime go up and down.