After the post lifting off ban by the Supreme Court of India, it enabled people to buy cryptocurrency in India. Still, there are countries that have not given legal status to this new form of financial technology. This means there is still some kind of fear of losing your precious money by investing in cryptocurrency. But today we are going to introduce you with fearful terms in cryptocurrency text. These are FUD and FOMO. Well, our main motive is not to make you really get feared but to impart knowledge about these two important terms.
FUD and FOMO are two most essential terms which are must to be known by a budding entrepreneur who wants to deal in cryptocurrency as a career in business. But FUD and FOMO are something which is very mandatory or important to know about.
Wherever there is doubt, fear, and uncertainty through media, one can understand it to be FUD. Whereas the fear of missing out explains FOMO. Both FUD and FOMO are indicators of the spread of fear that appear as the barrier in the process of trading. Both these terms are negative terms that generate fear in the crypto field.
People who are too inquisitive to know about the easiest way to buy cryptocurrency must also update their knowledge about FUD. It is a kind of spreading news which is bad enough to affect the price of crypto coin. And it is not because of charts or fundamentals but is spread across social media. Note that it is not always authentic. It can even vary around silly fact which is far from reality. The main motive of the FUD is to create fear or doubt.
A very important difference between the FUD and FOMO is that FOMO in comparison to FUD is personal. It indicates a different mode of fear, where you are being made to felt something missing and is enjoyed by others. As for an example, there can be fear of missing gains related to Bitcoin, while others are making the best benefit out of it. FOMO drives people for purchasing the coin, but won’t mention any profitable angle surrounding the coin.
