What is Minnow?
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.
Any coins that have been put forward as a stake are not spendable<\/strong>. If a stakeholder breaks the rules of the blockchain or deliberately records inaccurate transaction data to receive rewards, they may lose their wager. Stakeholders follow a high-risk-high-reward strategy by staking large amounts of coins to increase their odds of making a profit.<\/p>\n<p>Although minting can refer to different processes of creating coins or tokens, it is most commonly used to refer to new cryptocurrency created via the Proof-of-Stake mechanism.<\/p>\n<h2>Non-Fungible Tokens<\/h2>\n<p>Non-fungible tokens are <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-erc-721/">ERC-721 standard tokens<\/strong><\/a> built on the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-ethereum-eth/">Ethereum blockchain<\/strong><\/a>. The process of minting an NFT differs from minting cryptocurrency. All new NFTs are added to the Ethereum blockchain and often contain visual files, such as photos or videos, attached to them.<\/p>\n<p>Users who want to mint NFTs must have a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-wallet/">cryptocurrency wallet<\/strong><\/a> with Ethereum (ETH). They can then register their wallet on an NFT marketplace like <strong>OpenSea<\/strong> <strong>or<\/strong> <strong>Rarible<\/strong>. To create the NFT, they can upload the file they want to be attached to the token and pay for the creation using ETH. The NFT is minted when the transaction data is verified.<\/p>\n<p> <\/p>","definition":"the process of creating new cryptocurrency coins via the Proof-of-Stake (PoS) consensus algorithm.","status":"published","meta_title":"What is Minting? Definition & Meaning | Crypto Wiki","meta_description":"Minting meaning: Minting - the process of creating new cryptocurrency coins via the Proof-of-Stake (PoS) consensus algorithm.","meta_keywords":null}" :prev-section="{"id":547,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Cloud_mining","level":"easy","author_id":1,"created_at":"2023-06-19T06:59:00.000000Z","updated_at":"2023-11-21T18:19:20.000000Z","slug":"what-is-mining-rig","title":"What is Mining Rig?","section":"M","keyword":"Mining Rig","content":"<p>Mining rig describes <strong>various types of equipment sets utilized for <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-cryptocurrency/">cryptocurrency mining<\/strong>. There is <strong>no<\/strong> definitive approach for creating a mining rig. It could be a single computer at the back of someone’s apartment, or it could be a large-scale system of various hardware elements located in a warehouse. Either way, both of these equipment sets can be used for cryptocurrency <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-mining/">mining purposes.<\/p>\n<p>A mining rig’s elements are very similar to a regular computer: <strong>a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-central-processing-unit-cpu/">CPU, a motherboard, a lot of storage, RAM, and, of course, multiple graphic cards<\/strong>. There is a greater emphasis on graphic cards since they do most of the dirty work during the mining process.<\/p>\n<p>It’s important to note that every miner usually customizes each of these elements in order to increase their chances of success.<\/p>\n<p>Since <strong>more than one graphic card is needed for a mining rig<\/strong> that is able to successfully discover new blocks, there has been a clash between gaming enthusiasts and cryptocurrency followers. In response to this, many manufacturers whose primary targets are gamers have made their graphic cards an unappealing solution for mining.<\/p>\n<p>Considering how cryptocurrencies are growing in popularity, competitiveness is a natural successor of the increasing numbers of miners. As mining is becoming more competitive, it complicates the mining process and requires more advanced mining rigs. Moreover, these <strong>mining rigs need regular maintenance and upgrades<\/strong> in order to be as successful as possible.<\/p>\n<p> <\/p>","definition":"a term used to describe various types of equipment utilized for cryptocurrency mining.","status":"published","meta_title":"What is Mining Rig? Definition & Meaning | Crypto Wiki","meta_description":"Mining Rig meaning: Mining Rig - a term used to describe various types of equipment utilized for cryptocurrency mining.","meta_keywords":null}" :model="{"id":490,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Slang","level":"easy","author_id":1,"created_at":"2023-06-19T06:59:00.000000Z","updated_at":"2023-11-21T18:20:39.000000Z","slug":"what-is-minnow","title":"What is Minnow?","section":"M","keyword":"Minnow","content":"<p>A <strong>minnow<\/strong>, also known as a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-fish/">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. For example, some <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-altcoin/">altcoins have extremely low <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-trading-volume/">trading volumes<\/strong><\/a> and a severe lack of <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-liquidity/">liquidity, which means that their prices might swing drastically, even after a minor sale.<\/p>\n<p>Though note that \u200b\u200bthere is no precise definition of how much cryptocurrency an individual must own to be considered a <strong>minnow<\/strong>. However, the vast majority of investors fall under this category.<\/p>","definition":"someone who owns a minor amount of crypto assets and makes small investments.","status":"published","meta_title":"What is Minnow? Definition & Meaning | Crypto Wiki","meta_description":"Minnow meaning: Minnow - someone who owns a minor amount of crypto assets and makes small investments.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}" :chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? 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