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Iamveetoria
@iamveektoria
WTF is Degening❔ 🙂‍↔️ Imagine a game where you can win big, lose big, and everything moves at lightning speed. That’s degening in Web3! A “Degen” is a trader who jumps into highly speculative investments with little to no research. Known for extreme risk tolerance, degens thrive in volatile markets, constantly chasing trends like decentralized finance (DeFi) and non-fungible tokens (NFTs). The term “degen” comes from “degenerate,” originally used to describe reckless gamblers. In crypto, it refers to those diving into high-risk assets like meme coins, NFTs, and DeFi projects hoping for quick profits. It’s not about playing it safe; it’s about spotting early opportunities, making risky plays, and sometimes gambling purely on hype.
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Iamveetoria
@iamveektoria
How is a Crypto ‘Degen’ Different from a Regular Investor❔ Degens embrace high-risk, speculative trades, often in untested projects with potential for massive gains. Regular investors, however, prioritize long-term stability, avoiding reckless bets in favor of sustainable growth.
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Iamveetoria
@iamveektoria
How Degens Make Money💰 Degens don’t just gamble; they use different strategies to generate profits: → Trading and Flipping Meme Coins and Low-Cap Tokens Buying low and selling high before the hype fades. → NFT Flipping Buying undervalued NFTs and reselling them for profit. Some secure whitelist spots to mint hyped NFTs at lower prices, later selling for gains. Others invest in NFTs to join exclusive communities that offer perks like free airdrops and alpha (insider tips). → Pre-Sales and IDOs Buying tokens before public launch, usually at a lower price, and selling them after their value increases. → Leveraged Trading This trading method amplifies potential returns by borrowing funds to increase position size. High Leverage (50x-100x): Small price movements can result in massive gains or devastating losses. Some mitigate risk by setting stop-loss (SL) orders to avoid liquidation.
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