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SAFU

In the cryptocurrency world, "SAFU" is a popular term originating from a misspelling of "safe." It gained prominence following a tweet from Binance CEO Changpeng Zhao (CZ), which reassured users that their funds were "SAFU," or safe. Since then, SAFU has evolved into a broader term to assure users that their funds or investments are secure.

SAFU in Practice:

  • Binance Secure Asset Fund for Users (SAFU): Binance established a Secure Asset Fund for Users (SAFU) in 2018. This emergency insurance fund is designed to protect users' funds in extreme cases, such as security breaches or technical failures. A portion of trading fees is allocated to the SAFU fund to maintain stability.
  • General Use: In the broader crypto community, the term is used humorously and sincerely to reassure users about the security measures, whether for exchanges, wallets, or investment platforms.

PoO (Proof of ownership)

Proof of ownership refers to the mechanisms and technologies that demonstrate an individual's control over a particular digital asset.

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Phishing

Phishing is fraudulent attempts to obtain sensitive information, such as private keys, wallet passwords, or other credentials, by pretending to be trustworthy in electronic communications.

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OTC

Over-the-counter (OTC) trading in cryptocurrency is a method of trading digital currencies directly between two parties, outside of regular exchanges.

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