Can you explain the meaning of 'degen' in relation to digital assets?

3 answers

• Dec 25, 2021 · 3 years ago
  A 'degen' is a slang term used in the digital asset community to refer to individuals who engage in risky and speculative behavior. These individuals often take high-risk investment positions, participate in pump and dump schemes, and are generally more focused on short-term gains rather than long-term investment strategies. The term 'degen' is derived from the word 'degenerate' and is used to describe those who exhibit reckless and irresponsible behavior in the digital asset market.
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• Dec 25, 2021 · 3 years ago
  In the context of digital assets, 'degen' refers to traders and investors who are willing to take on significant risks for potential high returns. These individuals often engage in highly volatile and speculative trading strategies, such as margin trading and trading on leverage. While some degens may achieve substantial profits, others may suffer significant losses due to the inherent volatility of the digital asset market. It's important to note that not all traders in the digital asset market are degens, as many individuals adopt more conservative and long-term investment approaches.
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• Dec 25, 2021 · 3 years ago
  BYDFi, a leading digital asset exchange, defines 'degen' as individuals who exhibit a high tolerance for risk and engage in speculative trading activities. These traders often seek out high-risk, high-reward opportunities and are willing to take on significant leverage to amplify their potential profits. While degens can potentially generate substantial returns, it's important to approach such trading strategies with caution, as they also carry a higher risk of losses. It's crucial for traders to conduct thorough research and analysis before engaging in any speculative trading activities.
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