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COMMONLY USED CRYPTO ACRONYMS AND MEANING (Day 3) ... Cont'd #2FA = Two-Factor Authentication. It helps in adding an additional layer of security through a second verification step alongside the password for granting accessibility. E.g Phone number, Google authenticator, Binance authenticator... #P2P = Peer-To-Peer. Refers to interactions that do not involve any intermediaries between the parties involved in the interaction. #KYC = Know Your Customer. This refers to the procedures which businesses should follow during the verification of customer identity. #PnD = Pump and Dump. Happen when an individual or a group of individuals inflate the price of a crypto asset by buying more assets, thereby creating demand. The schemers then exchange their high-priced crypto assets for profits, leaving customers with worthless assets.
COMMONLY USED CRYPTO ACRONYMS AND MEANING (Day 3)
... Cont'd

#2FA = Two-Factor Authentication.
It helps in adding an additional layer of security through a second verification step alongside the password for granting accessibility. E.g Phone number, Google authenticator, Binance authenticator...

#P2P = Peer-To-Peer.
Refers to interactions that do not involve any intermediaries between the parties involved in the interaction.

#KYC = Know Your Customer.
This refers to the procedures which businesses should follow during the verification of customer identity.

#PnD = Pump and Dump.
Happen when an individual or a group of individuals inflate the price of a crypto asset by buying more assets, thereby creating demand. The schemers then exchange their high-priced crypto assets for profits, leaving customers with worthless assets.
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