wallet is created. The main goal is to make sure that if an event takes place where a password gets lost, the wallets can still be accessed.</p>\n<p>In cryptocurrency, there are two sorts of mnemonics - <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mnemonic-phrase/">mnemonic phrases</a> and mnemonic passes</strong>. To mention a few acronyms, a mnemonic phrase is also known as <strong>a seed key, mnemonic seed, and recovery seed.</strong></p>\n<p>When a new crypto wallet is created, users are recommended to write down a mnemonic phrase (12, 18, or 24 syllables long) on a piece of paper and keep it somewhere secure. 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Investing","slug":"trading-and-investing","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-trading.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-trading-101.jpg","rating":80,"sections":[{"slug":"where-to-trade-crypto","title":"Where Can You Trade 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One?","featured_image_id":11310,"status":"published","chapter_id":7,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/ico-vs-ido","featured_image":{"id":11310,"uuid":"315e8a2b-93a1-4870-be48-a2a09d801663","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/ico-vs-ido-featured-image.jpg","path":"crypto/storage/optimized/ico-vs-ido-featured-image.jpg","original_path":"crypto/storage/original/ico-vs-ido-featured-image.jpg","name":"ico-vs-ido-featured-image.jpg","original_name":"ico-vs-ido-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.39KB"},"youtube_video":null},{"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-arbitrage-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/investing-in-cryptocurrency","featured_image":null,"youtube_video":null},{"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","featured_image_id":6526,"status":"published","chapter_id":7,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-crypto-taxes","featured_image":{"id":6526,"uuid":"1e44162c-ef1d-4010-81b4-9e8d1809aedf","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","path":"crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","original_path":"crypto/storage/media/how-to-avoid-crypto-taxes.jpg","name":"how-to-avoid-crypto-taxes.o.jpg","original_name":"how-to-avoid-crypto-taxes.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"99.10KB"},"youtube_video":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto 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":502,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Money Flow Index (MFI)?","slug":"what-is-money-flow-index-mfi","section":"M","keyword":"Money Flow Index (MFI)","status":"published","definition":"a technical indicator that uses price and volume to determine if an asset is under purchasing or selling pressure.","content":"<p><strong>Money Flow Index (MFI)</strong> was developed by Avrum Soudack and Gene Quong as an indicator that uses price and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-volume/">volume to determine if an asset is under purchasing or selling pressure.</p>\n<p>Purchasing pressure can be indicated when there is an <strong>unusual rise in price</strong> showing a positive money flow. Selling pressure, on the other hand, can be indicated when there is an unfavorable fall in price showing a negative money flow.&nbsp;</p>\n<p><strong>The sum of positive and negative money flows</strong> creates a money flow ratio (often known as a money ratio). This ratio is used to determine the MFI, and it ranges from 0 to 100. Since it uses volume and price, it can be used to predict both &ndash; price peaks and troughs.</p>\n<h2>What Is the Purpose of the Money Flow Index (MFI)?</h2>\n<p>When it comes to studying a divergence in an asset's chart, the MFI is one of the most effective tools for that. A divergence occurs when the MFI oscillator moves in the opposite direction of the price, indicating that the present <strong>price trend is reversing</strong>. Because of the risk of a price reversal, experienced traders avoid opening deals when an asset is overbought.</p>\n<p>MFI is linked closely to the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-relative-strength-index-rsi/">Relative Strength Index (RSI)</strong></a>. However, they are not the same because the MFI indicator, <strong>unlike the RSI</strong>, takes volume into consideration. Many market analysts prefer MFI to RSI because it provides more timely signs and warnings of impending reversals.</p>\n<h2>What Is the Best Setting for Money Flow Index (MFI)?</h2>\n<p>There are various MFI settings that depend on traders but <strong>the most recommended one</strong> is setting the <span style=\"color: #169179;\">overbought signal line to 80</span> and the <span style=\"color: #169179;\">oversold signal line to 20</span>. When an asset is traded above its <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-intrinsic-value/">intrinsic or fair value</strong></a> &ndash; it is <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-does-overbought-mean/">overbought, and when it is traded at a lower price &ndash; it is <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-oversold/">oversold.

/n

Money Flow Index (MFI) Formula</h3>\n<p><img title=\"Glossary: Money Flow Index formula.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/glossary-money-flow-index-formula-623adfca8599a.o.jpg/" alt=\"Glossary: Money Flow Index formula.\" width=\"427\" height=\"61\" /></p>\n<p><em>Where:</em></p>\n<p><img title=\"Glossary: Money Flow Ratio, Raw Money Flow, and Typical Price formulas.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/glossary-money-flow-index-other-formulas-623adfcb55d44.o.jpg/" alt=\"Glossary: Money Flow Ratio, Raw Money Flow, and Typical Price formulas.\" width=\"412\" height=\"150\" /></p>\n<p>However, note that even though the MFI is a pretty reliable indicator, it can still provide you with <strong>some misleading information</strong> due to the lack of movement in the price action of an asset in the buying window.</p>\n<p>Besides, the signals about price reversal indicated with MFI might not be very consistent all the time which is why you should consider using other technical indicators (like <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-on-balance-volume-obv/">OBV indicator</strong></a>, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-aroon-indicator/">Aroon indicator</strong></a>, RSI, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-moving-average-convergence-divergence-macd/">MACD, etc.) additionally.</p>","level":"medium","meta_title":"What is Money Flow Index (MFI)? Definition & Meaning | Crypto Wiki","meta_description":"Money Flow Index (MFI) meaning: Money Flow Index (MFI) - a technical indicator that uses price and volume to determine if an asset is under purchasing or selling pressure.","meta_keywords":null,"language":"en","created_at":"2022-03-22T14:49:46.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-money-flow-index-mfi"},"prevSection":{"id":500,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Mining Difficulty?","slug":"what-is-mining-difficulty","section":"M","keyword":"Mining Difficulty","status":"published","definition":"determines how time-consuming and difficult it is to locate the right hash for every block.","content":"<p>Mining difficulty can also be referred to as the complexity of <strong>solving a cryptographic puzzle in question.</strong></p>\n<p>Cryptocurrency difficulty is a measure used by <a href=https://www.bitdegree.org/"/crypto/buy-bitcoin-btc/">Bitcoin and other cryptocurrencies to maintain a consistent average time between blocks when the network's hash power varies. The difficulty of cryptocurrency is essential because a high difficulty can help defend the blockchain network from malicious attacks.</p>\n<p>The difficulty of mining new blocks might go up or down over time, depending on the number of miners in the network. Therefore, the more miners there are, the more difficult it is to mine cryptocurrency. Rises in complexity, on the other hand, are frequently required since they effectively maintain the desired block duration consistent.</p>\n<p>For instance, on April 2, 2021, Bitcoin&rsquo;s cryptocurrency difficulty was 23.14 trillion. However, there is a big change compared to April 1, 2018, when it was 3.51 trillion.</p>\n<p>The early miners mined Bitcoin using <strong>CPUs,</strong> however, it was later discovered that graphics cards (GPUs) are preferable for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining/">mining. Moreover, Bitcoin and other digital currencies are mined via <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining-pool/">mining pools</strong></a>, in which a large number of miners join forces and merge their <strong>hash rates</strong> in order to get block rewards.</p>\n<p>Speaking of Bitcoin, when a cryptocurrency gains momentum, the quantity of computers participating in the peer-to-peer network grows. Miners fight against one another for restricted block rewards, and as the network grows in size and computational capacity, the hash power of the whole network grows.</p>\n<p>Currently, the usual block time for Bitcoin is 10 minutes, thus the complexity must be changed to keep this stage.</p>\n<p>Other cryptocurrencies, such as Litecoin, strive for more frequent blocks, therefore, it aims for 2.5 minutes. The problem is that the quantity of computer power controlled by the network's miners together can greatly fluctuate.</p>","level":"easy","meta_title":"What is Mining Difficulty? Definition & Meaning | Crypto Wiki","meta_description":"Mining Difficulty meaning: Mining Difficulty - determines how time-consuming and difficult it is to locate the right hash for every block.","meta_keywords":null,"language":"en","created_at":"2022-03-22T13:58:43.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-mining-difficulty"},"currentChapter":"M","currentSection":"what-is-mnemonics","chapterTitle":"M","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-mnemonics","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Crypto Terms: Letter M

What is Mnemonics?

Mnemonics MEANING:
Mnemonics - are a type of memory device that with information retention and retrieve memories.
Easy
1 minute

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

Mnemonics can be rhymes, abbreviations, or songs.

From a cryptocurrency perspective, mnemonics are a bunch of words (typically above 12) that are created at the same time a new crypto wallet is created. The main goal is to make sure that if an event takes place where a password gets lost, the wallets can still be accessed.

In cryptocurrency, there are two sorts of mnemonics - mnemonic phrases and mnemonic passes. To mention a few acronyms, a mnemonic phrase is also known as a seed key, mnemonic seed, and recovery seed.

When a new crypto wallet is created, users are recommended to write down a mnemonic phrase (12, 18, or 24 syllables long) on a piece of paper and keep it somewhere secure. Therefore, this prevents users from being blocked out of their crypto wallets.

There are several apparent advantages to utilizing a mnemonic phrase, such as the enhanced protection of the crypto wallet that is automatically easier to keep.

Mnemonic passes also known as seed extensions or mnemonic extensions, are an additional security feature based on mnemonic phrases that serve as two-factor authentication for the crypto wallet.

However, it can get very complicated to retrieve information about a cryptocurrency wallet since it works in a decentralized and private manner. This is where mnemonics come in handy. They can be employed to retrieve information.