fish, is someone who has a modest amount of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-digital-asset/">digital assets</strong></a>, which means that their crypto purchases or sales barely have an impact on the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-market/">market. It is the opposite of a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-whale/">whale who holds a <strong>significant amount of cryptocurrency </strong>and has a huge impact on the market.</p>\n<p>However, even a minnow can have a tremendous impact in exceptional circumstances. 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Apart from that, it also allows users to receive and transmit virtual currencies. The main advantages of mobile wallets are ease of use, easy accessibility, and <strong>quick transaction processing time</strong>.</p>\n<p>Therefore, if you have, let&rsquo;s say, <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum (ETH)</strong></a> in your mobile wallet, your private keys will allow you to access and send ETH to any address on the blockchain. A similar situation is with centralized mobile wallets that hold <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fiat/">fiat money</strong></strong></a>, there&rsquo;s just the difference that your funds are then held by a custodian or a bank rather than on a blockchain.</p>\n<p>To gain access, most traditional mobile wallets require a username and password combination. Besides, you&rsquo;ll be provided with a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-seed-phrase/">seed phrase</strong></a> for instances when you forget the password of your crypto-based mobile <strong>wallet</strong> and you want to reset it. Abra, Jaxx Liberty, Exodus, <strong>Coinomi</strong>, Electrum, and Mycelium are some of the most popular crypto mobile wallets.</p>\n<p>Though note that mobile wallets are <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hot-wallet/">hot wallets</strong></a> because they work only when connected to the internet. This&nbsp;means that they are <strong>less secure</strong> than <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cold-wallet/">cold wallets</strong></a> that function without an internet connection.</p>\n<p>Keep in mind that you always have to consider security, seed phrase,<strong> storage options</strong>, supported assets, and ease of use when choosing a mobile wallet. Besides, you should always look for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-two-factor-authentication-2fa/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>two-factor authentication</strong></a> for more advanced security.</p>","level":"easy","meta_title":"What is Mobile Wallet? 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This means that a miner's ability to obtain <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining-reward/">crypto rewards</strong></a> requires an ever-increasing amount of processing power (and electricity). Besides, sometimes the infrastructure required for finding a block can get pretty expensive for an individual miner.&nbsp;</p>\n<p>That&rsquo;s where <strong>mining pools come to the rescue</strong>. The chances of finding the next block and being rewarded with crypto increase a lot when miners pool their processing power and resources into one collective organization. The pool rewards are subsequently divided between its members. However, keep in mind that the <strong>split of rewards </strong>might depend on the amount of contribution of each member (it&rsquo;s not always equal).</p>\n<p>In addition, note that there are a few downsides to mining pools. There were some instances of websites that claimed to offer cloud-based mining pools but turned out to be scams. Therefore, you always have to be careful when choosing a mining pool. Besides, keep in mind that you might be required to <strong>comply with a set of specific criteria inside a pool</strong> in order to be eligible for a block reward.</p>","level":"easy","meta_title":"What is Mining Pool? 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Handbook Cover Page
Crypto Terms: Letter M

What is Minnow?

Minnow MEANING:
Minnow - someone who owns a minor amount of crypto assets and makes small investments.
Easy
1 minute

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

A minnow, also known as a fish, is someone who has a modest amount of digital assets, which means that their crypto purchases or sales barely have an impact on the market. It is the opposite of a whale who holds a significant amount of cryptocurrency and has a huge impact on the market.

However, even a minnow can have a tremendous impact in exceptional circumstances. For example, some altcoins have extremely low trading volumes and a severe lack of liquidity, which means that their prices might swing drastically, even after a minor sale.

Though note that ​​there is no precise definition of how much cryptocurrency an individual must own to be considered a minnow. However, the vast majority of investors fall under this category.
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