Learn / Glossary
Glossary
Stuck on a word? Look it up here. Search below or scroll through A to Z. Where a lesson explains the idea in more detail, we link to it.
- Address
- A long string of letters and numbers that works like an account number. You share it so people can send you crypto. It is safe to share, unlike your private key. Lesson 8.
- Altcoin
- Any cryptocurrency other than Bitcoin. The name is short for “alternative coin”.
- Bear market
- A long stretch when prices keep falling and most people feel gloomy about the market.
- Bitcoin (BTC)
- The first cryptocurrency, started in 2009. There will only ever be 21 million bitcoin. Lesson 5.
- Block
- A bundle of new transactions that is added to a blockchain. Each block links to the one before it. Lesson 1.
- Blockchain
- A shared record book kept by many computers. New entries are linked to the old ones, so it is very hard to change anything in secret. Lesson 1.
- Bull market
- A long stretch when prices keep rising and most people feel confident. Prices can still fall sharply along the way.
- Cold wallet
- A wallet that keeps your keys offline, often a small device. It is harder for hackers to reach than a hot wallet. Lesson 8.
- Coin
- A cryptocurrency that runs on its own blockchain, such as Bitcoin or SOL. Compare with token. Lesson 4.
- Cryptocurrency
- Digital money that exists only on a blockchain, with no bank issuing it. Lesson 4.
- Cryptography
- Maths used to keep information secret and secure. It is what makes crypto records hard to fake.
- Decentralised
- No single person, company or government is in charge. Control is spread across many participants who follow shared rules. Lesson 2.
- DeFi
- Short for decentralised finance. Services such as lending and trading that run on smart contracts instead of banks. They can be risky, because mistakes in the code or outright scams can cost you money.
- Ether (ETH)
- The coin of the Ethereum blockchain. Lesson 6.
- Ethereum
- A blockchain launched in 2015 that lets people run smart contracts. Lesson 6.
- Exchange
- A company or website where you can buy, sell and swap crypto. If you leave coins there, the company holds the keys for you.
- Fiat
- Regular government-issued money, such as the TT dollar or the US dollar.
- FOMO
- Fear of missing out. The pressure to buy because prices are rising and everyone is talking about it. It often leads to rushed decisions.
- Gas fee
- The fee you pay to have a transaction processed on a network such as Ethereum. It changes with demand.
- Halving
- A planned event, about every four years, when the reward for adding new Bitcoin blocks is cut in half. It slows the rate at which new bitcoin is created.
- HODL
- Slang for holding on to crypto instead of selling it. It began as a typing mistake for “hold”.
- Hot wallet
- A wallet app or browser add-on that is connected to the internet. Convenient, but more exposed to hackers. Lesson 8.
- KYC
- Short for “know your customer”. The ID checks that exchanges and other regulated businesses ask for before you can use them.
- Market cap
- A coin’s price multiplied by the number of coins in circulation. It shows how big a coin is overall. See the Markets page.
- Mining
- How some blockchains, including Bitcoin, use powerful computers to confirm transactions and add new blocks. Miners earn new coins as a reward.
- NFT
- Short for non-fungible token. A unique digital item recorded on a blockchain, such as a piece of digital art. Owning one is not always the same as owning the rights to the work.
- Phishing
- A trick that uses fake messages or websites to get you to hand over passwords, keys or recovery phrases. See Scam Watch.
- Private key
- The secret that approves sending your crypto. Anyone who has it can take your coins, so never share it. Lesson 8.
- Public key
- A key made to go with your private key. Your address comes from it. It is safe to share.
- Recovery phrase
- Usually 12 or 24 words that can rebuild your wallet if you lose your phone. Also called a seed phrase. Keep it offline and never share it. Lesson 8.
- Rug pull
- A scam where the people behind a project take investors’ money and disappear. See Scam Watch.
- Self-custody
- Holding your own keys instead of leaving coins with a company. You have full control, and full responsibility. Lesson 8.
- Smart contract
- A small program on a blockchain that follows rules written in code, for example “if this payment arrives, then do that”. Lesson 6.
- Solana (SOL)
- A blockchain launched in 2020, designed to be fast with low fees. Lesson 7.
- Stablecoin
- A coin designed to stay close to a steady value, usually US$1. Often used to move money between exchanges and wallets. It is not risk-free, and some have lost their steady value in the past.
- Staking
- Locking up coins to help run some blockchains, in return for rewards. Your coins may be locked for a time, and their price can still fall.
- Token
- A crypto asset built on top of another blockchain, such as Ethereum. Compare with coin. Lesson 4.
- Transaction
- A record of crypto moving from one address to another. Once confirmed, it cannot be reversed.
- Volatility
- How much and how fast a price moves up and down. Crypto prices are often very volatile.
- Wallet
- An app or device that holds the keys that prove your crypto is yours. The coins themselves live on the blockchain. Lesson 8.
- Whale
- A person or group holding a very large amount of a coin. Their buying or selling can shake the price.
Missing a word? Tell us on the About page and we will add it. Educational only, not financial advice.