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cRYPTO Glossary
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Accepting Risk (Acceptance)
Accepting risk, also known as risk acceptance, is a risk management strategy where companies choose to accept risks associated with certain events instead of investing resources to mitigate them.
Explanation of Specific Terms:
- Risk management strategy: A plan or approach to identify, assess, and address potential risks.
- Accept risks: Choosing to tolerate potential negative outcomes without taking steps to prevent them.
- Certain events: Specific situations or occurrences that could result in negative consequences for the company.
- Investing resources: Allocating time, money, or effort to prevent or reduce the impact of risks.
Key Points for Beginners:
- Why it's important: Accepting risk can be a cost-effective strategy when the cost of mitigating a risk is higher than the potential impact of the risk itself.
- How it works: Companies evaluate the potential risks and decide if they are willing to tolerate them, based on factors like likelihood and impact, instead of spending resources to avoid them.
Valdis Zhvaginsh
Crypto Enthusiast, CWT Editor
Hello, I'm Valdis
When I began exploring cryptocurrencies, I had many questions. Over time, I've gathered some of the best resources that helped me, and I believe they can be useful to you as well.
I hope these resources assist you in starting your journey into the world of cryptocurrencies and provide useful tools for everyday tasks.
If you have any suggestions or corrections, please contact me
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