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Rekt

When a user gets “REKT” in cryptocurrency, it typically means that they have lost a significant amount of money due to a bad trade or investment decision. This slang term is often used in the crypto community to describe someone who has suffered a large financial loss.

One example of a “REKT” situation is the BitMEX trading platform’s flash crash in May 2020, where the price of Bitcoin dropped by nearly 60% in a matter of minutes. Many traders were unable to close their positions quickly enough, resulting in substantial losses. The incident resulted in lawsuits and investigations into BitMEX’s trading practices.

  • Hot Wallet
    A hot walletA hot wallet is a type of cryptocurrency wallet that is connected to the internet, allowing for quick and easy access to your funds. When... More is a type of cryptocurrencyCryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies use decentralized technology […]
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  • Futures Contract
    Futures contracts are financial derivatives that allow traders to buy or sell an underlying asset at a predetermined price and time in the future. They work on an exchangeA cryptocurrency exchange is an online platform that allows users to buy, sell, and trade cryptocurrencies. These exchanges serve as intermediaries between buyers and sellers,... More like […]
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  • Ethereum
    EthereumEthereum is a type of cryptocurrency that is similar to Bitcoin, but with some important differences. One of the key differences is that Ethereum is... More is a type of cryptocurrencyCryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies use decentralized technology called blockchain... […]
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