What does Noob Trap mean?
The word “Noob” (also “Newb” or “Newbie”) is a term that means “new blood” or newcomers to a community. In the case of cryptocurrencies it is those who are new to the technology and lack complete understanding of how cryptocurrencies, and the cryptocurrency markets, function.
While most of the people involved in cryptocurrency investing and trading are good people who are willing to help a “Noob” gain the knowledge they need to become profitable, there are other unscrupulous folks who are more than happy to take advantage of the lack of knowledge and savvy of the noob. These folks will manipulate markets in order to take advantage of the naïve noob, and to take their money.
Fortunately, the cryptocurrency markets are becoming mature enough that it is possible to study past manipulations and become knowledgeable enough to avoid current and future noob traps. For better understanding of the types of noob traps there are in the digital currency world, see the terms Bear Trap, Bull Trap and Pump and Dump.