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Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":434,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Kimchi Premium?","slug":"what-is-kimchi-premium","section":"K","keyword":"Kimchi Premium","status":"published","definition":"a phenomenon happening in South Korean crypto exchanges that makes the value of certain tokens higher than it is on other international exchanges.","content":"<p>Kimchi Premium is a phenomenon that occurs in South Korean <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-exchange/">cryptocurrency exchanges</strong></a>, causing the value of specific <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">tokens to be greater than on <strong>other international exchanges</strong>. <em>How does it work? </em>A trader from South Korea needs to buy a token, let&rsquo;s say <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin, from an exchange that is outside of South Korea, and then sell it on one of the South Korean exchanges, let&rsquo;s say Bithumb. This way, the trader <strong>buys a token for a smaller price</strong> elsewhere but sells it for a higher price in South Korea.</p>\n<p>The Kimchi Premium was identified as a phenomenon at the beginning of 2016. The token value differences due to the Kimchi Premium were highest between 2016 and 2018. In January of 2018, the difference between <strong>Bitcoin</strong> values in South Korean exchanges and other international exchanges was about 55%. However, normally, it is about 4.5%.</p>\n<p>The difference between token values all over the world <strong>happens for a reason</strong>. <em>What is the reason? </em>Well, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency trading is a decentralized process. Therefore, when <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain technology</strong></a> evolves and new crypto tokens emerge, it is hard for exchanges all over the world<strong> to keep up </strong>with the constant waves of changes and adapt to them at the same time. Thus, it results in phenomena like Kimchi Premium.</p>\n<p>However, taking advantage of these differences in token values is <strong>not a new practice</strong> in the cryptocurrency world. The Kimchi Premium phenomenon only happens in South Korea but smaller token value differences occur all over the world. Therefore, when traders notice it, they start trading between different exchanges to gain more profit.</p>\n<p>Though taking advantage of the Kimchi Premium is technically a form of arbitrage. Therefore, the South Korean government has imposed <strong>strict capital control restrictions</strong> to prevent traders from making a profit from this phenomenon. Besides, other financial regulations and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-anti-money-laundering-aml/">Anti Money Laundering legislation</strong></a> prevent the traders from manipulating the market through the Kimchi Premium even more.</p>","level":"medium","meta_title":"What is Kimchi Premium? Definition & Meaning | Crypto Wiki","meta_description":"Kimchi Premium meaning: Kimchi Premium - a phenomenon happening in South Korean crypto exchanges that makes the value of certain tokens higher than it is on other international exchanges.","meta_keywords":null,"language":"en","created_at":"2022-03-18T12:39:26.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-kimchi-premium"},"prevSection":{"id":446,"original_id":null,"author_id":40,"translator_id":null,"title":"What is JOMO?","slug":"what-is-jomo","section":"J","keyword":"JOMO","status":"published","definition":"is short for “joy of missing out” and it is the opposite of FOMO or “fear of missing out”.","content":"<p>To specify, JOMO refers to <strong>a trader who is content not to participate in a current cryptocurrency trend or panic selling.</strong></p>\n<p>Everyone is aware by now that <a href=https://www.bitdegree.org/"/crypto/buy-bitcoin-btc/">Bitcoin and other crypto-assets are highly <strong>volatile.</strong> This indicates that investors who have avoided purchasing in Bitcoin and other cryptocurrencies are prone to having JOMO when prices decline.</p>\n<p>It is usually utilized by no-coiners who don&rsquo;t avoid emphasizing their happiness of not being involved in cryptocurrencies, especially when there is an <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/">ICO scam</strong> that was revealed, or when the prices are dropping down in general. However, the greatest cause of JOMO is likely to be experienced when ICOs are shown to be fraudulent, confirming the perception that cryptocurrencies are unstable.</p>\n<p>In addition, <strong>holders</strong> are the investors who hold their cryptocurrencies instead of selling them, even though they are losing profit.</p>\n<p>BTC price, for instance, fell from <strong>$20,089</strong> in December 2017 to slightly over <strong>$3,000</strong> in December 2018, referring to a reduction of <strong>80%.</strong> Many who did not have a connection to Bitcoin, or those who sold it before the price collapsed, are likely to have experienced any level of JOMO in this scenario.</p>\n<p>Likewise, investors hung on to BTC following its rapid price collapse in 2018 and might have gone through JOMO.</p>\n<p><strong>All in all, JOMO refers to a trader who is content not to participate in a current cryptocurrency surge or in the act of selling to earn a profit and avoid loss.</strong></p>","level":"easy","meta_title":"What is JOMO? Definition & Meaning | Crypto Wiki","meta_description":"JOMO meaning: JOMO - is short for “joy of missing out” and it is the opposite of FOMO or “fear of missing out”.","meta_keywords":null,"language":"en","created_at":"2022-03-21T06:32:30.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-jomo"},"currentChapter":"J","currentSection":"what-is-jager","chapterTitle":"J","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-jager","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Crypto Terms: Letter J

What is Jager?

Jager MEANING:
Jager - the smallest unit of BNB.
Easy
1 minute

Let's find out Jager meaning, definition in crypto, what is Jager, and all other detailed facts.

BNB or the Binance Coin is a cryptocurrency that was created by the Binance exchange and trades with a BNB ticker symbol. Jager is the smallest unit of BNB. It’s the same with Wei, which is the smallest unit of Ethereum (ETH). The term came from the Binance Community Manager named Jager. This is because, since the reveal of Binance, he has been a Binance Angel and later became a Community Manager.

To specify:

1 Jager = 0.00000001 BNB

Furthermore, as stated in each coin set of regulations, the majority of cryptocurrencies may be separated into decimals. There are 8 of them in BNB. From a technical standpoint, they are the number of digits after the decimal point.

They determine how divisible a token or a coin is. The scale goes from 0 to 8 (or higher). In other words, from indivisible to divisible.