What is JOMO?
We kicked off our crypto dictionary series with an article on HODL and more recently about FOMO. Lots of users from the crypto community consider HODL and FOMO opposites. For example, you are HODLing because you think the value will increase in the long run, yet if you don’t HODL, you’re more likely to FOMO as there might be tremendous opportunities out there for you (don’t be fooled though!).
This article will focus on JOMO which is short for “the joy of missing out.” Since the majority of crypto users focus more on the trading aspect of the industry, it is important to consider also those who stay away from deals too good to be true. JOMO is best represented by a trader who is happy about not participating in the current cryptocurrency trend. In other words, the trader prefers to HODL, rather than sell in panic or buying digital coins out of FOMO.
JOMO is also the opposite of FOMO and is most often used by crypto enthusiasts who express their happiness that they are not involved with the short-term benefits of the crypto industry such as trading because values fluctuate and scam ICOs are a harsh reality.
If you are a crypto user, you probably felt JOMO when everyone else bought at an all-time high, and the price later dropped or when you stayed away from an ICO that was offering the deal of the century.
But trading cryptocurrency is not the only action you can choose. Stepping away from the dangers of crypto trading could save you lots of money and headache. If you do this, you’re already JOMOing. A more constructive way to get involved with the crypto space is by participating in projects that do bring something new and useful to society. After all, cryptocurrencies and blockchain were created with the purpose of offering an alternative to our traditional financial and digital systems.
Aside from the transparency and safety that the technology is promoting, some projects use it to make our daily life work smoother. Did we convince you yet? If not, consider PumaPay’s billing protocol as a case study. We are working on a neat idea that connects the everyday life with the crypto space in a practical manner. With our service, you will not feel the JOMO because it works. You will be able to pay for your subscriptions through recurring payments or tailor your payment framework. The product is for both consumers and businesses, and it continues to attract a large community of members and companies worldwide.
So, you might have been JOMOing on the Bitcoin’s price dip, but you shouldn’t JOMO on PumaPay’s PullPayment Protocol.