Rekt Definition | Decryptopedia™ by BabyPips.com

Rekt is slang for “wrecked“.

It describes a trader who has lost a substantial amount of money, in a variety of potential ways, including on a single trade, lost over the course of many trades or lost just by hodling.

Rekt also describes crypto assets themselves, those that have suffered huge drops in value.

A bag holder is a good example of someone that’s rekt.

They’re a bag holder because they got rekt at some point in the past.

“SafeMoon just tanked another 50%. That junk is rekt.”

“What rekt me you ask? I got rug pulled by Squid Token. Lost about $2k.”

Related Terms

Rug Pull

A scam tactic perpetrated against crypto traders and investors, that results in all investment funds disappearing without a trace. The scam usually takes the shape of scammers setting up a brand new coin that promises instant gains or too-good-to-be-true scenarios. Once the coin is made public, the scammers (criminals) drum up attention on social media and chat rooms, in hopes of enticing investors to buy the cryptocurrency of the project. The fraud materializes when the founders of the coin disappear without notice, taking all investor funds with them.

Bag holder

A Bag Holder normally describes someone that bought a currency at some price, only to see the digital asset’s price drop before he got a chance to sell it. Now he’s stuck with a bag of worthless cryptocurrencies. You don’t want to be a bag holder.

Bag

A Bag or “Holding A Bag” is slang for owning some quantity, large or small, of a specific cryptocurrency.

Token

A Token is a digital asset that operates on a parent blockchain or on another digital asset’s blockchain because it doesn’t have a blockchain of its own. The term “token” also tends to describe almost all other cryptocurrencies other than Bitcoin and Ethereum, the two largest cryptocurrencies in existence today. Tokens have multiple purposes and use cases.

Noob

Noob, noobie, n00b,newb, or newbie all refer to someone new to crypto trading, digital currencies, or new to cryptocurrencies altogether.