It's called a portmanteau. It consists of fusing words as well as their meanings. It's also shorter in syllable length.
But is it really necessary to do it? Maybe I'm alone in this, but when people to that I think it makes them sound less intelligent.
that's rich coming from the nation that invented the XGate.
How am I to blame for that? Because some stupid people who aren't affiliated with me in any way, aside from living in the same nation as me, come up with some stupid words that means I'm not allowed to criticize any stupid words?